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Details Title: Marketing Final Description: 106 Cain Total Flash Cards: 38 Created: 04/24/2005 16:19:36	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Product Definition Anything that can be offered to a market for attention, acquisition, use, or consumption that might satsify a want or need. Term Service Definition Any activity or benefit that one party can sell to another that is essentially intangible and does not result in the ownership of anything Term Consumer Product Definition Product bought by final consumer for personal consupmtion Term Convenience Product Definition Consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort Term Shopping Product Definition Consumer good that the custome, in the process of selection and purchase, characteristaically compares on bases such as suitability, quality, price, and style. Term Shopping Product Definition Consumer good that the custome, in the process of selection and purchase, characteristaically compares on bases such as suitability, quality, price, and style. Term Specialty Product Definition Consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a specail purchase effort. Term Unsought Product Definition Consumer product that the consumer either does not know about or knows about but does not normally think of buying. Term Social Marketing Definition The desing, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group. Term Product Quality Definition The ability of a product to perform its functions; it includes the prodcut's overall durability, reliability, precision, ease of operation and repair, and other valued attributes. Term Prodcut Line Definition A group of products that are closely related beacause tehy function in a similar manner, are sold to the same consumer groups, are marketed through the same types of outlets, or fall within given price ranges. Term Product Mix (or Product Assortment) Definition The set of all product lines and items taht a particular seller offers for sale Term Brand Equity Definition The positive differential effect that konwing the brand name has on customer response to the product or service. Term Private (or store) Brand Definition A brand created and owned by a reseller of a product or service. Term Brand Extension Definition Using a successful brand name to launch a new or modified product in a new category Term Line Extension Definition Using a successful brand image to introduce additional items in a given product category under the same brand name,such as new flavors, forms, colors, added ingredients, or package sizes. Term Service Intangibility Definition A major characteristic of services- they cannont be seen, tasted, felt heard, or smelled before they are bought. Term Service Inseparbility Definition A major charactersitic of services- they are produced and consumed at the same time and cannot be separated from their providers, whether the providers are people or machines. Term Service Variability Definition A major characteristic of services- their quality may vary greatly, depending on who provides them and when, where, and how. Term Internal Marketing Definition Marketing by a service firm to train and effectively motviate its customer-contact emplyoees and all the supproting service people to work as a team to provide customers satisfaction. Term Interactive Marketing Definition Marketing by a service firm that recognizes that perceived service quality depends heavily on the quality of buyer-seller interaction. Term New-Product Development Definition The development of original products, product improvements, product modifications, and new brands through the firm's own R&D efforts. Term Idea Generation Definition The systematic search for new product ideas. Term Idea Screening Definition Screening new-product ideas in order to spot good ieas and drop poor ones as soon as possible Term Product Concept Definition A detailed version of the new-product idea stated in meaningful consumer terms Term Concept Testing Definition Testing product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. Term Marketing Strategy Development Definition Designing an intial marketing strategy for a new product based on the product concept Term Business Analysis Definition A review of the sales, costs, and profit projections for a new product to find out whether theses factors satsify the company's objectives. Term Product Development Definition Developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable product. Term Test Marketing Definition The stage of a new-product development in which the product and marketing program are tested in more realistic settings Term Commercialization Definition Introducing a new product into the market Term Sequential Product Development Definition A new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage. Term Simultaneous (or team-based) Product Development Definition An approach to developing new products in which various company departments work closely together, overlapping the steps in the product-development process to sive time and increase effectivness. Term Style Definition A basic and distinctive mode of expression Term Fashion Definition A currently accepted or popular style in a given field Term Fad Definition A fashion that enters quickly, is adopted with great zeal, peaks early, and declines very quickly. Term Introduction Stage Definition The product life-cycle stage in whichc the new product is first distributed and made available for purchase Term Growth Stage Definition The product's life-cycle stage in which a product's sales start climbing quickly