U of U BUS 105 - Final Exam Study Guide (13 pages)

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Final Exam Study Guide

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Final Exam Study Guide


Compilation of notes from lecture 13 to 25. Also includes Sandomir Study Guide Answers from review and main points/answers.

Study Guide
University of Utah
Bus 105 - Foundations of Business

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BUS 1050 1st Edition Final Exam Study Guide Lectures 13 25 Lecture 13 October 22 Cicero and the story of gyges difference versus Plato interpretation of Gyges Plato belives any man would turn bad Cicero belives an educated man would not obligations of friendship Friendships are important in business and is necessary fairness doctrines People do not want to see others fail and instead succeed expediency principle of Aristides Morally right isn t expedient and what is expedient isn t always morally right conclusions on grain affair Grain story Cicero believes that you have the choice to sell grain at any price in demand but it s fair that if anyone asks you must be honest in saying there is more conclusions on house selling affair must report defects If there is something wrong with a product that is not obvious you must notify the buyer caveat vendor vs caveat emptor Seller Beware vs Buyer Beware Competitive pricing Cicero House and Ship example Responsibility of checking quality of product Seller should beware and take responsibility of what is being sold defects what is getting to yes Lecture 14 October 27 1 Gyges value of education 2 fairness doctrine Value of self interest and enlightened behavior 3 Two marketing cases enlightening strategic marketing 4Ps Aquinas 1234 Price Just price sin Product Substance quantity quality Promotion Safety Place Efficiency Anti Arstotelian Depth Number of products in a life Breadth Number of lines in company Total brands all products in company length New Products Price High Product Basic Add extras later to extend life Promotion Advertising Distribution Stages of product life Cycle Growth Price Lower a bit Product Leave basic work on improvements PromotionDistribution good Maturity Price Lower Product Stays Distribution Steady Promotion Reposition Moe to new market Move to new market New use for product baking soda Can protract life cycle Decline Price Lower in some markets raise in others Product Stays the same Promotion Way

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