Chap.+5+Product+&+Price

CHAP 5: PRODUCT & PRICE DECISIONS

 * Point of Difference
 * G.O. listing & explaining 7 steps in creating a new product


 * G.O. listing and explaining steps in product life cycle (pg. 103)
 * ACTIVITY: Research the life cycle of a product
 * [[file:Product life cycle activity.docx]]


 * TICKET OUT DOOR: Your line of t-shirts has reached maturity stage. List 3 ways to avoid the decline stage


 * Define
 * consumer perception
 * demand and price
 * When demand increases = __________ price
 * When demand decreases = __________ price
 * Give examples
 * G.O. for inelastic demand (4 reasons) & cost (mark up & cost plus)
 * Competition
 * Non-price competition
 * Marketshare
 * Role Play: Marketing Consultant (pg. 119)