Summary Mkt 3000 Final Exam Review

l11/29/16
MKT 3000
Final review

Final exam: marketing mix or 4 p’s
Chapters 4-8

Product
Goods
- Product (tangibles)
- Services (Intangibles)
- 4 natures
Classification of consumer goods

- Product: convenience goods: consumer buying habit
o Price: low, everyday items, little time making decision
o Place: intensive/ mass marketing
o Promotion: max/ min
- Product: shopping goods
o household items, clothes, appliances; costly; not everyday; takes time to make
decision
o Price: medium budget
o Place: selective
o Promotion: max/ min
- Product: specialty goods: wedding ring/ dress
o Price: high budget items
o Place: exclusive
o Promotion: max
- Product: unsought goods
o people hate to buy, life insurance, doctor visits; avoiding
o Price: unique
o Place: unique
o Promotion: unique

B2B classifications
- Capital items: machines, investments in the product (Depreciation)
- Raw materials: make the finish goods, sell it, and get money (Comes and goes)
- Supplies: necessary to keep the line going

PLC: product life cycle
- Introduction growthmaturitydecline
Brand mix
- Natural: producer