Product 1
Goods
Products that are performed by people or machine.
Services
It is the amount of money a consumer has to pay in exchange of a product.
Price
Factors affecting pricing decision: This factor can lead to a "price war" in the market.
Competitor
Who was the original voice actor for Mickey Mouse?
Walt Disney
Classification of Product: products that are purchased frequently, immediately, and with minimal effort.
Convenience Products
Level of a Product: The very reason a customer buys a product.
Core Benefit
This is the lowest price where a company can still earn profit.
Price Floor
This is the maximum price a customer are willing to pay for a given product.
Price Ceiling
Name 2 Disney princes!
Prince Philip(Sleeping Beauty), Beast/Prince Adam(Beauty&TheBeast), Prince Eric(The Little Mermaid), Prince Charming(Cinderella), Prince Naveen(Princess&TheFrog, Prince Florian(Snow White)
Classification of a Product: These are long-lasting goods that aid in the buyer's production or operation.
Capital Items
New Product Development Process: This step introduces the new product to the market and implements the proposed marketing strategies.
Commercialization
General Pricing Strategies: This pricing strategy starts identifying the needs and value perceptions of its consumers.
Value-Based Pricing
Product Mix Pricing Strategies: This pricing strategy is applied based on the cost differences between products in the line.
Product Line Pricing
Who is the only Disney princess with a tattoo?
Pocahontas
Level of a Product: This level includes attributes and characteristics that set the product apart from its competitors.
Augmented product
Classification of Consumer Product: Products that consumers compared based on suitability, quality, price, and style.
Shopping Product
Product Mix Pricing Strategies: In this pricing strategy, companies determine products that can be combined and offer at a reduced price. This is common in the restaurant industry.
Product Bundle Strategy
Product Mix Pricing Strategies: In this pricing strategy, the consumer might perceive an item that costs P99.75 to be significantly less that P100.
Psychological Pricing
A young boy genius who loves to say "Gotta Blast"
Jimmy Neutron
Provide the four components of Product Decisions
Product Attributes, Branding, Packaging, and Labelling
Provide the Product Life Cycle
Product Development, Introduction, Growth, Maturity, and Decline/Extension
Provide the different factors affecting pricing decisions.
Product Cost, Competitors, Overall Marketing Strategy, Economic Conditions, Government Laws and Regulations.
Provide the pricing strategies under General Pricing Strategies
Value-Based, Cost-Base, and Competition-Based
3 rodents who love to sing.
Alvin and the Chipmunks