Review

* = not in the textbook

Chapter 3

profit
free market
perfect competition
monopoly
oligopy
private property
public property
R & D (research and development)
direct competition
indirect competion
customer loyalty (card)
production cost
Top of the mind
Service base
Product base
value added service
market share
* communism
market segment
landed cost
category killer

Chapter 4

market research
hard data
primary data
secondary data
periodicals
consultants
quantitative research
qualitative research
test marketing
closed ended questions
open ended questions
random sampling
media reasearch
consumer tracking devices
*how store design increases sales
*how store desing decreases shrinkage
*shrinkage
Mean
Mode
Median
* Placelessness
* Elsewhereness
* staples

Chapter 5

feasibility study
invention
innovation
8 stages of product development
utility
form utility (material, sent,flavour, colour, design, packaging)
information utility
place utility
time utility
possession utility
product mappint
marketing oppourtinity analysis
cost benefit analysis
ergonomics
* GATT
* WTO
* Subsidies
* Hyperinflation
* Tween
* Age Compression
* Word of mouth marketing (idea virus)
* commercial real estate
* residential real estate
(*) Slogan
(*) Jingle
* Knock off

Be able to: identify marketing strategies, why some products fail, benefits and disadvantages of a free market, benefits of competition. identify target markets, and be able to recognize good and bad marketing techniques

June 4 2007

Go to the following link and answer the following questions.  

http://www.virgin.com/home.aspx

1.  What is the product mix for the Virgin brand?  
2.  What challenges would such a diverse product mix present for the people in charge of marketing?
3. Go to the About Virgin Link: write a brief overview of the Virgin company?
4.  What type of person is Richard Branson, what are his characteristics, and do you think that his personality has contributed to his success? Explain.
5. Explore the virgin website.  What are 5 things that you find interesting?
6. On a scale of 1-10 how would you rate the Virgin website? EXPLAIN.  

"Be the change you want to see in the world." ... Mahatma Gandhi

Jason Southwell
Frank Hurt Secondary
604-590-1311