next bit name later Flashcards
Government Agencies for Marketing
Federal Trade Commission (FTC) and Consumer Protection Safety Commission (CPSC)
Sustainable Marketing
addresses the need for products to meet the current and future needs of customers
“Bait and Switch” Promotions
advertisements that attract customers by offering great products at low prices and then when they go to buy the product they state there was a limited supply and try and sell the customer a similar product at a higher price
Relationship Marketing
Marketers recognize that buyers and sellers create relationships over time
Product Mix
a business’s portfolio of products
Product Line
group of similar products
Consumer Products
products that are sold to conumers
Classification of Consumer Products
convenience products
shopping products
specialty products
unsough porducts
Convenience Products
products consumers buy frequently with minimum thought (low price and consumed in large quantities) gasoline, detergent and fast food
Shopping Products
products consumers buy carefully and less frequently such as furniture, clothes, airfare, iPhone
Specialty Products
products consumers buy infrequently with a deliberate thought process such as jewelry, automobiles, and computers
Unsought Products
products consumers do not initially or readily recognize they need or want (insurance, medical procedures, and legal services)
