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