Shared Flashcard Set

Details

Marketing Vocab
Ch. 11&12
42
Business
Undergraduate 1
04/04/2011

Additional Business Flashcards

 


 

Cards

Term
Assurance
Definition
The knowledge and courtesy of employees and their ability to convey trust.
Term
Core Service
Definition
The most basic benefit the consumer is buying.
Term
Credence Quality
Definition
A characteristic that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience.
Term
Empathy
Definition
Caring, individualized attention to customers.
Term
Experience Quality
Definition
A characteristic that can be assessed only after use
Term
Gap Model
Definition
A model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality.
Term
Heterogeneity
Definition
The variability of the inputs and outputs of services, which causes services to tend to be less standardized and less uniform than goods.
Term
Inseperability
Definition
The inability of the production and consumption of a service to be separated. Consumers must be present during the production.
Term
Intangibility
Definition
The inability of services to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed.
Term
Internal Marketing
Definition
Treating employees as customers and developing systems and benefits that satisfy their needs.
Term
Mass Customization
Definition
A strategy that uses technology to deliver customized serivces on a mass basis.
Term
Nonprofit Organization
Definition
An organization that exists to achieve some goal other than the usual business goals of profit
Term
Nonprofit Organization Marketing
Definition
The effort by nonprofit organizations to bring about mutually satisfying exchanges with target markets.
Term
Perishability
Definition
The inability of services to be stored, warehoused, or inventoried.
Term
Public Service Advertisement (PSA)
Definition
An announcement that promotes a program of a federal, state, or local government or of a nonprofit organization
Term
Reliability
Definition
The ability to perform a service dependably, accurately, and consistently.
Term
Responisiveness
Definition
The ability to provide prompt serivce.
Term
Search Quality
Definition
A characteristic that can be easily assessed before purchase.
Term
Service
Definition
The result of applying human or mechanical efforts to people or objects.
Term
Supplementary Services
Definition
A group of services that support or enhance the core service.
Term
Tangibles
Definition
The physical evidence of a serivice, including the physical facilities, tools, and equipment used to provide the service.
Term
Adopter
Definition
A consumer who was happy enough with his or her trial experience with a product to use it again.
Term
Brainstorming
Definition
The process of getting a group to think of unlimited ways to vary a product or solve a problem.
Term
Business analysis
Definition
The second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated.
Term
Commercialization
Definition
The decision to market a product.
Term
Concept Test
Definition
A test to evaluate a new-product idea, usually before any prototype has been created.
Term
Decline Stage
Definition
The fourth stage of the product life cycle, characterized by a long-run drop in sales.
Term
Development
Definition
The stage in the product development process in which a prototype is developed and a marketing strategy is outlined.
Term
Diffusion
Definition
The process by which the adoption of an innovation spreads.
Term
Growth Stage
Definition
The second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start acquiring small pioneering firms, and profits are healthy.
Term
Innovation
Definition
A product percieved as new by a potential adopter.
Term
Inroductory Stage
Definition
The first stage of the product life cycle in which the full-scale launch of a new product into the marketplace occurs.
Term
Maturity Stage
Definition
The third stage of the product life cycle during which sales increase at a decreasing rate.
Term
New Product
Definition
A product new to the world, the market, the producer, the seller, or some combination of these.
Term
New-Product Strategy
Definition
A plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.
Term
Product Category
Definition
All brands that satisfy a particular type of need.
Term
Product Development
Definition
A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products.
Term
Product Life Cycle
Definition
A biological metaphor that traces the stages of a product's acceptance, from its introduction (birth) to its decline (death).
Term
Screening
Definition
The first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new-product strategy or are obviously inappropriate for some other reason.
Term
Simulated (laboratory) market testing
Definition
The presentation of advertising and other promotion materials for several products, including a test product, to members of the product's target market. (laboratory market testing)
Term
Simultaneous Product Development
Definition
A team-oriented approach to new-product development.
Term
Test Marketing
Definition
The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.
Supporting users have an ad free experience!