Quiz Tomorrow! (Terms below)

Go to the following link and answer the following questions.

https://www.virgin.com/

1. What is the product mix for the Virgin brand (look under the discover Virgin Tab)?

2. What challenges would such a diverse product mix present for the people in charge of marketing?

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 or ways that they market themselves in a not typical way?

CHAPTER 3 and 5 STUDY TERMS

All of the following are fair game for MONDAY's Test!!

innovation
invention
freasability study (study to see if it can be made and if it will make money)
utility
form utility
information utility
place utility
possession utility
product mapping
knock off
word of mouth marketing
tween
age compression
ergonomics
What can be done in store layout to Increase sales and Decrease Shrinkage.
loss leader
Product Life Cycle (introduction, growth, maturity, decline/decision point)
Economic Cycle
Free Market and some benefits
Command Economy