Bus. Econ. 230 -- Marketing
J. Sell
Spring1998

Outline of Materials Covered prior to final examination. This is in addition to the material covered in the first examination review, the second examination review, and the third examination review. Note: You should be able to discuss the following concepts clearly and completely without the use of notes and talk about why each is important to the study of Marketing. You should also be able to give examples of the concepts other than the ones given in class.

I. The Marketing Mix in Detail

A. Creating the Product offer (cont'd.)

a. The Product Offer Mix
b. Product Management

1. New Products -- Acquire or Develop?
2. New Product Development

a) Idea Generation
b) Screening and Analysis
c) Concept Development

Concept testing
Market Strategy Stmt.
Business Analysis
Product Development

d. Market Testing

1) Criteria for tests.
2) Sales Wave Research
3) Lab Tests
4)Mini-mkt. test
5) Full-scale test

e. Introduction & Commercialization

c. The Product Life Cycle

1. What it is.
2. How it is used
3. Problems with it.
4.Product management

B. Price

1. Basic Classification of pricing cases
2. New Products

a. Price Skimming
b. Penetration Pricing

3. Existing Products with Demand Known

a. Basic rule: MR = MC
b. Estimating MR, MC
c. Solving for price, quantity, profit.

4. Existing Products with Unknown Demand

a. Markup concepts.
b. Markup and Price elasticity
c. Elasticity and Cost

5. Adjusting the Base Price

a. Psychological Pricing
b. Cash Flow Pricing
c. Geographical Pricing
d. Marginal Cost Pricing

C. Promotion (Advertising)

1. Promotion vs. Advertising
2. The Economic Functions of Advertising
3. The Advertising Mix

a. Choice of Medium
b. When to Advertise
c. Timing of Advertisements

4. "Subliminal" Advertising

D. Place (Distribution)

1. Transportation Modes

a. Deregulation of transportation
b. Classes of Carriers
c. Advantages & Disadvantages of major transportation modes.

2. Warehousing

a. Storage Warehouses
b. Distribution Warehouses (make- or break- bulk)

3. Inventory Control

a. Costs and benefits of inventory
b. Economic Order Quantity
c. Just-in-time inventory

4. Order processing

5. Packaging and Materials Handling

a. Unitizing
b. Containerization

Updated by Jws on 30 April 1998.