Term
| the stage at which new products and marketing programs are introduced |
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Definition
first introduced in test markets
first introduced to public in commercialization |
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Term
| team based new product development |
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Definition
when company departments work closely together in cross-functional teams overlapping product development process
saves time increases effectiveness |
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Term
| cost cutting of older and established brands and PLC |
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Definition
| drop product in decline stage |
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Term
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Definition
product life cycle
development - introduction - growth - maturity - decline |
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Term
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Definition
minimizing "environmental..." impact through PLC
protect consumer/corporation |
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Term
| developing planned market and positive test market results |
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Definition
| lots of product and market testing |
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Term
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Definition
standard - small representative markets (full market campaign conducted in a test city)
controlled - controlled panel of stores
simulated
standard most effective |
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Term
| when a company introduces additional items in a given product category |
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Definition
product line stretching
upward - add prestige
downward - fill a gap or respond to competitor attacks |
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Term
| group of products that are closely related |
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Definition
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Term
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Definition
| helps guide a products evolution |
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Term
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Definition
differentiation - brand stand out
relevance - meets consumer needs
knowledge - what is known about brand
esteem - level of consumer regard for brand |
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Term
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Definition
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Term
| product design and development of a new product |
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Definition
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Term
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Definition
discounted gourmet food
festive vacation type atmosphere
private label goods |
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Term
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Definition
| starts with an ideal selling price based on consumer value and then targets cost that will ensure price is met |
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Term
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Definition
| higher price higher demand |
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Term
| pricing strategy and experience curve |
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Definition
| drop in average per unit production cost that comes with accumulated production experience |
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Term
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Definition
| market consists of one seller |
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Term
| marketer and the 5 major product mix pricing |
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Definition
product line - difference between costs, and competitor prices
optional product - accessory
by-product - produced as a result of product doesn't make profit
product bundle - several product offered at one low price |
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Term
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Definition
| dynamic pricing - price constantly changes to meet the needs of individual customers and situations |
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Term
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Definition
company sells same product at 2 or more prices with the same costs
different versions or locations same cost different price |
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Term
when a competitor cuts its price
the actions to take are |
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Definition
reduce price to match
raise perceived value
improve quality increase price
launch lower price fighting brand
if it wont affect your market share stay at the same price. |
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Term
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Definition
robinson-patman act - prevents unfair price discrimination
discrimination allowed if:
seller can prove costs differ when selling to different retailers
manufacturers different qualities of the same product |
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Term
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Definition
robinson-patman act - prevents unfair price discrimination
discrimination allowed if:
seller can prove costs differ when selling to different retailers
manufacturers different qualities of the same product |
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Term
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Definition
offer producer better efficiency in making goods available to consumer
transportation, wholesaling... |
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Term
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Definition
vertical marketing systems
integrate successful stages of production and distribution under single ownership |
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Term
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Definition
| all aspects of physical distribution |
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Term
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Definition
| truck, tail, water, pipeline, air, internet |
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Term
| setting Chanel objectives in terms of target levels |
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Definition
of customer service
bring product closer to customer ownership |
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Term
| disagreement with intermediaries in the channel |
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Definition
horizontal conflict - among members of same channel level
vertical - among members of different channel levels
disintermediation - cut out intermediaries |
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Term
| distribution systems and international marketers |
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Definition
channels vary from country to country
must be able to adapt to strategies |
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Term
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Definition
carry narrow product line with deep assortment
clothing stores/radio shack |
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Term
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Definition
sold at less than retail and purchased at less than whole sale unwanted or left over goods
or require membership
tj max/sam's club |
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Term
| wholesalers and manufactures |
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Definition
wholesaling by sellers or buyers themselves rather than through independent wholesalers
grainger |
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Term
| integrated marketing communication |
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Definition
| integration of communication channels to deliver a clear consistent and compelling message |
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Term
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Definition
| the process by which the receiver assigns meaning to the symbols |
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Term
| advertising and the shortcomings |
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Definition
expensive
impersonal
cannot be directly persuasive |
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Term
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Definition
not socially responsible
advertise a price when customers come in downplay advertised product and try and sell a more expensive model. |
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Term
| in deciding message structure marketers must decide |
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Definition
is the message conclusive
are strongest arguments presented
is message one (strengths) or two sided |
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Term
| price building and value of companies marketing offer |
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Definition
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Term
| price competition and pricing method |
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Definition
| set price low to prevent competition, stabilize market by matching competition |
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Term
| customers cannot judge quality |
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Definition
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Term
| convenient and upscale of its environment |
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Definition
| small selection of overpriced goods placed conveniently. convenience stores/gas stations |
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Term
| automated warehouse orders |
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Definition
| EDI electronic data interchange |
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