Mon Jan 19

Today we are going to carry on with Review. Here is a list of Terms from Chapters 2 and 3.


Here is a list of what you are responsible for knowing for the Final Exam. Today we will have to computer based review activities and then you are to work on writing brief definitions for the following terms to study from. We will work on the difficult ones as a group.

* = Not in Textbook
Chapter 2

Customer
Consumer
(*) Consignment
Gatekeeper
Product Life cycles (traditional, seasonal, fad, niche)
fad vs trend
demographics
baby boomers
Thorndikes Law of Effect
Maslow's Hierarchy of Needs
Household name
* Celebrity endorsement
Bust
* Spin off product

Chapter 3

profit
free market
perfect competition
monopoly
oligopy
private property
public property
R & D (research and development)
direct competition
indirect competition
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