Term
| Robinson-Patman Act (355) |
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Definition
| passed in 1936, was intended to curb price discrimination by large retailers. It was written in very general terms, so eover the years it has also become applicable to manufacturers. (355)regulates price discrimination in the business-to-business market. |
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Term
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Definition
| One statge in the new product deelopment pricess, consisting of several steps to expand a surviving idea into a concrete business proposal. |
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Term
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Definition
| the stage of product adoption when individuals use or experience the product for the first time |
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Term
| multiple-brand strategy (268) |
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Definition
| they have more than one brand of essentially the same product, aimed either at the same target market or at distinct target markets. (268) |
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Term
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Definition
| a tangible product that the consumer feels comfortaable purcahsing without gathering addistional information and then actually buys with minmum of effort. (208) |
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Term
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Definition
| the beginning of the product adoption process, when individuals become aware that the product exists, but have little information about it |
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Term
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Definition
| is that quantity of output at which total revenue equals total costs, assuming a certain selling price. (333) |
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Term
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Definition
| pricing method that takes into account both demand and costs to determine the best price for profit maximization. (335) |
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Term
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Definition
| a market sturcture in which product differentiation is absent, buyers and sellers are well informed, and the seller has no discernible control over the selling price. |
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Term
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Definition
| a cost that changes directly in relatrion to the number of units produced or sold. |
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Term
| marketing-skimming strategy (350) |
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Definition
a strategy in which the initial price of a product is set high in relation to the target market's range of expeted prices. (350)
1. The product has distinctive, desirable features.
2. Demand is fairly inelastic during the early product life cycle stages.
3. Competition is discouraged by entry barriers. |
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Term
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Definition
| consist of the aggregate demand over an extedned period of time for all brands comprising a generic product category. (241) |
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Term
| market-acceptance stage (243) |
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Definition
| sales and profits rise, frequiently at ta rapid rate. Competitors enter the market, often in large numbers if the profit outlook is particulary attractive. Known as growth stage. |
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Term
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Definition
| a form of price compettitino in which a firm seeks to improve the ratio of a product's benefits to its price and related costs. |
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Term
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Definition
| a brand owned by a retailer or a wholesaler. |
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Term
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Definition
| the practice of placing several units of the same product in one container. |
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Term
| market-penetration pricing (351) |
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Definition
A strategy in which the initial price of a product is set low in relation to the target market's range of expected prices. (351)
1. A large mass market exists for the product.
2. Demand is highly elastic, usually in later product life cycle stages.
3. Large-scale production can yield economies of scale.
4. Fierce competition exists already or is anticipated after product introduction.
5. It will not likely be construed as predatory pricing, which is illegal. |
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Term
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Definition
| Driving competitors out of the marketplace by giving awayy prodeucts or charging a far-below-the-market price. (351) |
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Term
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Definition
| A product's image in relation to directly competitive products as well as other products marketed by the sme company. Alternatively, a firm's strategies and actions related to favorably distinguishing itself from competitors in the minds of selected groups of consumers. Same product positioning. (157) |
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Term
| product mix expansion (237) |
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Definition
| is accomplished by increasing the depth within a particular line and/or the number of lines a firm offers to customers. (237) |
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Term
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Definition
| When a company adds a similar item to an existing product line with the same brand name. (237) |
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Term
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Definition
| a group of customers (people or organizations) for whom a seller designs a particular marketing mix. |
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Term
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Definition
| a deduction from a seller's list price that is offered to a buyer when a large quantity of the product is purchased. |
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Term
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Definition
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Term
| profit maximization objective (322) |
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Definition
| Suggest profiteering, high prices, and monoploy. (322) |
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Term
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Definition
| to add a new product line to the company's present assortment. (237) |
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Term
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Definition
| a brand that has been adopted by a seller and given legal protetion. (258) |
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Term
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Definition
| are intended for personal consumption by households. (208) |
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Term
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Definition
| a tangible product for which a consumer has a strong brand prefence and is willing to expend substantial time and effort locating the deisired brand. (210) |
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Term
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Definition
| business goods taht become part of another tangible product prior to being processed in any way. (211) |
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Term
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Definition
| seperated into five categories: raw matierials, fabicating materials and parts, installations, accessory equipment, and operating supplies. (211) |
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Term
| trickle-down concept(250) |
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Definition
| where a given fashion cycle flows downward through several socioeconomic levels. (250) |
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Term
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Definition
| a strategy of imporving an existing product. (238) |
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Term
| common line-extension strategy |
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Definition
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Term
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Definition
| An effective brand strategy will create a unique identity that will differentiate you from the competition. |
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Term
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Definition
| the part of the brand that appears in the form of a symbo, design, or distinctive color or lettering. (258) |
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Term
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Definition
| Means used to transfer merchandise from the manufacturer to the end user. |
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Term
| nonprofit organization (288) |
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Definition
| provides services but does not have a profit or surplus objective. (288) |
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Term
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Definition
| the recipients of money or services from the organization. This is much like the customer market for a business. (292) |
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Term
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Definition
| the higher the price, the greater the unit sales. (326) |
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Term
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Definition
| A psychological priceing strategy that consists of seting prices at uneven (or odd) amounts, such as $4.99, rather than at even amoutns, such as $5, in the belief that these lower prices will result in larger sales volume. (360) |
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Term
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Definition
| a product or style that becomes immensely popular nearly overnight and the falls out of favor with consumers almost as quickly. (244) |
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Term
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Definition
| used by organizations in services fields. |
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