• total product:

basic (generic) product
expected product
augmented product
potential product

• benefits
• features
• goods
• services
• consumer products/business products
• classification of products:

           convenience goods
                - staples, impulse goods
           shopping products
           specialty products
           unsought products

• brand issues:

brand name, brand mark, trademark
brand equity
brand extension
manufacturer brand, private brand, generic brand

• packaging:

key factors in package design
functionality
advertising
communication

• components
• raw materials
• supplies
• mass customization
• quality

 

• innovations
• new product
• why new products fail/succeed
• new product development process

environmental scan
idea generation
screening and evaluation
concept development and testing
business analysis
product design and development
test marketing
commercialization

• cannibalization
• prototype
• total quality management (TQM)
• continuous improvement
• product line

line extensions

• product strategy choices

market penetration strategy
product development strategy
market development strategy
product diversification strategy

• product modification

• product life cycle:

introduction
growth
maturity
decline

• product management

 

• service

• characteristics of services

- intangibility
- perishability
- heterogeneity
- simultaneous production & consumption
- co-production by customers

• client relationship with customers

• three additional marketing mix elements

- people
- process
- physical evidence

• service quality

• dimensions of service quality

- reliability
- responsiveness
- assurance
- empathy
- tangibles

• credence qualities
• experience qualities
• search qualities

• good-service continuum
• inventory restrictions
• nonprofit marketing
• service encounter
• service strategy

 

• price
• key factors in price determination:

- pricing objectives
- customer influences
- cost considerations
- product characteristics
- competitive forces
- legal and regulatory constraints

• profit maximization
• elasticity analysis:

price elasticity of demand
demand curve

• price leader

• price fixing
• predatory pricing
• price discrimination
• deceptive pricing

• price competition

• value

perceived benefits
perceived price

• value pricing

• understanding costs

- cost analysis

- fixed costs, variable costs, total costs

- breakeven analysis

- breakeven point

- marginal analysis

- marginal cost, marginal revenue

• pricing strategies:

- demand-based pricing:

- skimming pricing
- penetration pricing
- prestige pricing
- price lining
- odd-even pricing
- price bundling
- demand-backward pricing

- cost-based pricing

- markup pricing
- cost-plus pricing
- experience curve pricing

- profit-based pricing

- target-profit pricing
- target-return pricing

- competitive-based pricing

- customary pricing
- promotional pricing
- everyday low pricing
- competitive bidding

• list price
• market price