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Definition
| good, service, or an idea received in an exchange |
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| tangible, physical entity. Ex: buying a pet, guarantees, warranties |
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| intangible, results of application of human and mechanical efforts |
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| the part of brand that is not made of words such as symbol or design. ex: seminole head |
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| a legal destination of exclusive use of a brand |
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| a name, term, design, symbol, or other feature that identifies the marketer product |
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Definition
1. recognition
2.preference
3 insitence |
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| Why brands are very powerful? instructor research |
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Definition
1. change our perceptions
2. Alter our views of realty
3. Add value where it doesn't really exist |
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| heinz ketchup, 57 sauce, coctail sauce(all have ketchup base) |
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Definition
Heinz owns Lea&Perrin Worcestershire sauce.
BMW's mini copper is an individual brand because Bmw didn't want to be a/w with their typical luxury vehicles |
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Definition
Heinz owns Lea&Perrin Worcestershire sauce.
BMW's mini copper is an individual brand because Bmw didn't want to be a/w with their typical luxury vehicles |
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Definition
| Trader Joe's organic ketchup |
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Definition
Same product category.
EX: V8--V8splash
twix---twixdark--twix white |
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Definition
Different product category.
Ex: Tide to-go, Jell-0 pudding |
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Definition
using an established brand in an unrelated market.
Ex: Yamaha makes pianos and motorcycles |
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| Risk of stretching brand? |
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Definition
| You can hurt the parent brand |
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Definition
when 2 brands presented together.
EX:1. Kraft owns Oscar Meyer and lunchables, so they put them together.
2.Betty Crocker uses Hershey's in cake batter. |
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Term
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| "deed, process, or performance" |
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Term
| USA exports more ..... than we import |
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Definition
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Term
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Definition
.customer switching due to bad services
.customers tend to remember bad services
.customers don't seem to remember bad physical product as much
. It is more expensive to acquire new customer than to keep current customers. |
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Term
| Factors that contributes in the growth of services? |
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Definition
1.Aging poulation-baby boomers
2.Movement to information age( we buy products online, which requires shipping services)
3. Increased leisure time
4.High per capita income
5. Changing social and cultural values |
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Term
| characteristics of services: The BIG 4. |
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Definition
1.Intangibility
2.Perishability: inability of a service to be inventoried or stored
3.Inseparability:simultaneous production and consumption of a service
4.Variability:unwanted or random levels of service quality customers receive when they patronize a service firm |
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Term
| Service and Wine have something in common? |
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Definition
| You don't know about wine or law, so you need to judge it based on price |
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Term
| Why services are intangibles? |
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Definition
1. so you can sample them
2. this makes branding and pricing important
3. They should stress tangible cues(brand logos) |
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Term
| Why is so hard to manage supply and demand in service? |
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Definition
| happy hour gives customer the incentive to come earlier than they normally do |
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Term
| Inseparability(strategic implications) |
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Definition
Employeess are the key.
If you were treated rudely, you remember as a bad experience
Key:physical enviroment
Key:risk expectations |
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Term
| Services marketing The 7 P'S: |
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Definition
| product, place, promotion, price, people, process, and physical evidence |
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Definition
1.people
2.process
3.physical evidence |
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Term
The services mix: 3 new P's
People: |
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Definition
functional quality:
Employee and customer, managing appearence(dress code), sometimes people are the service(consulting). |
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Term
The services mix:3 P's
Process |
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Definition
The operational flow.
Wendys has one single line fair because its first some, first serve |
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Term
The services mix: 3 P's
Physical evidence |
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Definition
the tangible aspects.
How evaluate companies:brochures,catalog
UPS:wear brown uniform |
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Term
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Definition
| (RELIABILITY+RESPONSIVENESS+EMPATHY+ASSURANCE+TANGIBLES)-(EXPECTED SERVICES+PERCEIVED SERVICES)=SERVICE QUALITY |
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Term
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Definition
flawed when you use it to compare to your competitors.
. use of disconfirmation
.comparison value
.5 dimension, dont capture the whole construct |
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Term
| Who is the most powerful channel member in history? |
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Definition
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Term
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Definition
| the people and firms that directs the flow of goods from Manuf to consumers |
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Definition
involves the movement and storage of products from Manufacture to consumer.
The transportation mode or storage products |
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Definition
| involves transforming raw materials into products |
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Term
| Who are the intermediaries? |
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Definition
| wholesalers and retailers |
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Term
| Why do we need intermediaries? |
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Definition
1. As product move down the supply chain, the price goes up
2.wholesalers and retailer allows us to one stop shop |
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| Supply chain configurations? |
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Definition
Producer to Consumer
Ex: Legal seafood restaurant sells their chowder directly through their website. |
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| Producer--retailer--consumer, what supply chain is? |
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Definition
| supply chain configuration |
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Term
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Definition
1. Time utility
2.Place utility
3.Form utility
4.Stock-out |
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Term
Selecting a Channel?
Intensive example: |
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Definition
| convenience products such as coke, pringles, and duracell batteries |
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Term
Selecting a channel
Selective example: |
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Definition
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Term
Selecting a Channel
Exclusive example |
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Definition
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Term
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Definition
when one channel member expands to operatea new part of the channel(Manufacturer to retailer)
ex: Apple,Coach handbags, manufacturers outlet mall |
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Term
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Definition
when channel member at the same level acquire other channel members.
ex:Southwest recently bought Air tran |
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| Activities involved in moving goods from Manufacturer to Consumer |
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Definition
. transportation
.tracking
.inventory management |
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Definition
requires expensive warehouse
money tied up in inventory means that the company cannot spend that money elsewhere |
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Definition
An inventory management approach in which supplies arrive just when needed for production or resale.
Often associated with Toyota. |
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| Retailing is the..... largest industry in the U.S |
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Definition
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Term
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Definition
| wide variety of items at discount prices |
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