Term
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Definition
| anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need |
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Term
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Definition
| any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything |
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| See Fig. 8.1 Pg. 234 "Three Levels of Product" |
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Definition
| core benefit, actual product, augmented product |
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Definition
| product bought by final consumer for personal consumption |
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Term
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Definition
| consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort |
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Term
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Definition
| consumer good that the customer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style |
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Definition
| consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort |
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Definition
| consumer product that the consumer either does not know about or knows about but does not normally think of buying |
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Term
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Definition
| product bought by individuals and organizations for further processing or for use in conducting a business |
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Definition
| the design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group |
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Term
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Definition
| the ability of a product to perform its functions; it includes the product's overall durability, reliability, precision, ease of operation and repair, and other valued attributes |
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Term
| See Fig. 8.2 Pg. 239 "Individual Product and Service Decisions" |
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Definition
| Product attributes >>> branding >>> packaging >>> labeling >>> product support servicies |
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Term
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Definition
| a name, term, sign, symbol, or design, or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors |
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Definition
| the activities of designing and producing the container or wrapper for a product |
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Term
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Definition
| a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges |
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Term
| product mix (or product assortment) |
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Definition
| the set of all product lines and items that a particular seller offers for sale |
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Term
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Definition
| the positive differential effect that knowing the brand name has on customer response to the product or service |
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Term
| See Fig. 8.3 Pg. 250 "Major Brand Strategy Decisions" |
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Definition
| Positioning, Selection, Sponsorship, Development |
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Term
| private brand (aka store brand) |
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Definition
| a brand created and owned by a reseller of a product or service (i.e. Costco's "Kirkland") |
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Term
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Definition
| the practice of using the established brand names of two different companies on the same product |
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Term
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Definition
| using a successful brand name 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 |
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Term
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Definition
| using a successful brand name to launch a new or modified product in a new category |
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Term
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Definition
| a major characteristic of services-they cannot be seen, tasted, felt, heard, or smelled before they are bought |
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Term
| See Fig. 8.5 Pg. 258 "Four Service Characteristics" - mentioned in class! |
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Definition
| intangibility, inseparability, variability, perishability |
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Term
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Definition
| a major characteristic of services-they are produced and consumed at the same time and cannot be separated from their providers |
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Term
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Definition
| a major characteristic of services-their quality may vary greatly, depending on who provides them and when, where and how |
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Term
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Definition
| a major characteristic of services-they cannot be stored for later sale or use |
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Term
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Definition
| the chain that links service firm profits with employee and customer satisfaction |
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Term
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Definition
| marketing by a service firm to train and effectively motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction |
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Term
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Definition
| marketing by a service firm that recognizes that perceived service quality depends heavily on the quality of the buyer-seller interaction |
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