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DevelopingandManagingGoodsandS
Chapter 11:DevelopingandManagingGoodsandServices
33
Business
Undergraduate 1
04/05/2009

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Term
aesthetic modifications
Definition
Changes to the sensory appeal of a product
Term
brand manager
Definition
The person responsible for a single brand
Term
business analysis
Definition
Evaluating the potential contribution of a product idea to the firm's sales, costs, and profits
Term
client-based relationships
Definition
Interactions that result in satisfied customers who use a service repeatedly over time
Term
commercialization
Definition
Deciding on full-scale manufacturing and marketing plans and preparing budgets
Term
concept testing
Definition
Seeking potential buyers' responses to a product idea
Term
consistency of quality
Definition
The degree to which a product has the same level of quality over time
Term
customer contact
Definition
The level of interaction between provider and customer needed to deliver the service
Term
customer services
Definition
Human or mechanical efforts or activities that add value to a product
Term
functional modifications
Definition
Changes affecting a product's versatility, effectiveness, convenience, or safety
Term
heterogeneity
Definition
Variation in quality
Term
idea generation
Definition
Seeking product ideas to achieve objectives
Term
inseparability
Definition
Being produced and consumed at the same time
Term
intangibility
Definition
A service that is not physical and cannot be touched
Term
level of quality
Definition
The amount of quality a product possesses
Term
line extension
Definition
Development of a product that is closely related to existing products in the line but meets different customer needs
Term
market manager
Definition
The person responsible for managing the marketing activities that serve a particular group of customers
Term
new-product development process
Definition
A seven-phase process for introducing products
Term
perishability
Definition
The inability of unused service capacity to be stored for future use
Term
product deletion
Definition
Eliminating a product from the product mix
Term
product design
Definition
How a product is conceived, planned, and produced
Term
product development
Definition
Determining if producing a product is technically feasible and cost effective
Term
product differentiation
Definition
Creating and designing products so that customers perceive them as different from competing products
Term
product features
Definition
Specific design characteristics that allow a product to perform certain tasks
Term
product manager
Definition
The person within an organization responsible for a product, a product line, or several distinct products that make up a group
Term
product modification
Definition
Change in one or more characteristics of a product
Term
product positioning
Definition
Creating and maintaining a certain concept of a product in customers' minds
Term
quality
Definition
Characteristics of a product that allow it to perform as expected in satisfying customer needs
Term
quality modifications
Definition
Changes relating to a product's dependability and durability
Term
screening
Definition
Choosing the most promising ideas for further review
Term
styling
Definition
The physical appearance of a product
Term
test marketing
Definition
Introducing a product on a limited basis to measure the extent to which potential customers will actually buy it
Term
venture team
Definition
A cross-functional group that creates entirely new products that may be aimed at new markets
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