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Mix & Match
PM003
22
Marketing
11th Grade
03/17/2014

Additional Marketing Flashcards

 


 

Cards

Term
1. Alteration: A product-mix strategy in which a business makes changes to its products or product lines
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2. Broad product mix: A description of the width of a business’s product mix offering many product lines
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3. Cannibalization: The situation that exists when the sale of one of a company’s products takes away sales from another of its products
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4. Competition: The rivalry between two or more businesses to attract scarce customer dollars
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5. Consistency: A product-mix dimension referring to how closely a company’s product lines are related in terms of the products’ end use, methods of distribution and production, target market(s), and/or price range
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6. Contraction: A product-mix strategy in which a business removes, or deletes, product items or product lines from its product mix
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7. Deep product mix: A description of the depth of a business’s product mix offering a great many items in the product line
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8. Depth: A product-mix dimension referring to the number of products and the assortment of sizes, colors, and models offered in a product line
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9. Expansion: A product-mix strategy in which a business expands its product mix by adding additional product items or product lines
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10. Goods: Tangible objects that can be manufactured or produced for resale
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11. Liabilities: Responsibilities of the business, especially legal responsibilities
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12. Narrow product mix: A description of the width of a business’s product mix offering a limited number of product lines
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13. Product item: Each individual good, service, or idea that a business offers for sale
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14. Product line: A group of related product items
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15. Product mix: The particular assortment of goods and services that a business offers in order to meet the needs of its market(s) and its company’s goals
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16. Product-mix strategies: The ways in which businesses handle, or manage, their product mixes
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17. Service(s): Intangible activities that are performed by other people for money; productive acts that satisfy economic wants
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18. Shallow product mix: A description of the depth of a business’s product mix offering few items in the product line
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19. Target market: The particular group of customers a business seeks to attract
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20. Trading down: A product-mix strategy in which a business adds a lower priced product or product line to its product mix
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21. Trading up: A product-mix strategy in which a business adds a higher priced product or product line to its product mix
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22. Width: A product-mix dimension referring to the number of product lines carried by a company
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