Marketing 301 at John Carroll University Exam 2 chapters 11,12 and14

Core customer value-

Actual product

Associated Service

Specialty-

Convenience-

Unsought Types of product

Product Mix Breadth-

Product Line Depth

what makes a brand (elements of a brand)

value of branding

Brand Equity

Branding Strategies

Manufacturer-

Retailer/Private Label Brands

Premium Brands

Generic Brands

Copycat Brands

Exclusive Cobrands

Family Brands

Individual Brands-

Brand dilution

Co-branding-

Brand Licensing-

Brand Repositioning-

Packaging

Product Labeling-

Innovation

Reasons why firms create new products

Diffusion of innovation

Innovators-

Early Adopters

Early Majority-

Late Majority

Laggards-

Different characteristics that impact the speed with which innovation diffuses – Relative Advantage

Different characteristics that impact the speed with which innovation diffuses –Compatibility

Different characteristics that impact the speed with which innovation diffuses- Observability

Different characteristics that impact the speed with which innovation diffuses –Complexity and trial ability

Product development process

Product life cycle-

Role of price in the marketing mix-

The five C’s of Pricing-

Target profit pricing

Target return pricing

Profit maximization

Sales orientation

Competitor orientation

Customer Orientation-

Demand curves and pricing

Price elasticity of demand

Income Effect

Substitution Effect

Cross Price Elasticity

Variable cost

Fixed Cost

Total cost

Break-even analysis

Monopoly

Oligopolistic

Monopolistic competition

Pure Competition

Gray market