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Exam 2 WSU MARKETING
Chapter 8
30
Marketing
Undergraduate 3
10/14/2008

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Term
Actual product
Definition
The physical good or the delivered service that supplies the desired benefit.
Term
Augmented product
Definition
The actual product plus other supported features such as warranty, credit, delivery, installation, bundled services, and repair service after the sale.
Term
Business analysis
Definition
The step in the product development process in which marketers assess a product’s commercial viability.
Term
Commercialization
Definition
The final step in the product development process in which a new product is launched into the market.
Term
Compatibility
Definition
The extent to which a new innovation is consistent with the target market’s existing cultural values, customs, and practices.
Term
Complexity
Definition
The degree to which consumers find a new innovation or its use difficult to understand, learn and use.
Term
Continuous innovation
Definition
A change in an existing product that requires a moderate amount of learning or behavior change (ie., ipod’s change from using hard-drives to flash memory).
Term
Convenience product
Definition
A consumer good or service that is usually low-priced, widely available, or purchased frequently with a minimum of comparison or effort.
Term
Convergence
Definition
The coming together of two or more technologies or industries to create a new system with greater benefits than its parts. Ex: iPhone or Wap phone which can download songs, make/play videos, do email, and Internet browsing.
Term
Core product
Definition
All the benefits the product will provide for consumers or business customers. Ex: what are all the benefits a person received from a hair cut (style).
Term
Diffusion
Definition
The process by which the use of a product spreads throughout a population.
Term
Disruptive innovation
Definition
A totally new product that creates major changes in the way

we live. Some examples are PC’s, refrigerators, and penicillin vaccinations.
Term
Durable goods
Definition
Consumer products that provide benefits over a long period of time (usually many years) such as cars, furniture, and appliances.
Term
Gap analysis
Definition
is a measurement tool that gauges the difference between a customer’s expectations of product or service quality and that level which actually occurred
Term
Good
Definition
A tangible product that we can see, touch, smell, hear, or taste.
Term
Idea generation
Definition
The first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission.
Term
Innovation
Definition
A product that consumers perceive to be new and different from existing products.
Term
Nondurable goods
Definition
Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as yesterday's newspaper).
Term
Product concept development and screening
Definition
The second step of product development in which marketers test product ideas for technical and commercial success.
Term
Product adoption
Definition
The process by which a consumer or business customer begins to buy and use a new good, service, or idea.
Term
Prototypes
Definition
Test versions of a proposed product.
Term
Relative advantage
Definition
The degree to which a consumer perceives that a new product provides superior benefits than existing products.
Term
Staples
Definition
Basic or necessary items that are available almost everywhere.
Term
Shopping product
Definition
A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase.
Term
Slotting allowance
Definition
the fee that retail vendors charge to a manufacturer, or wholesaler to ensure a good product placement. For example the products are placed near the front of the store, at the end of each aisle, or at eye-level on the shelves.
Term
Specialty product
Definition
A good or service that has unique characteristics and is important to the buyer and for which the buyer will devote significant effort to acquire.
Term
Technical development-
Definition
The step in the product development process in which a new product is refined and perfected by company engineers.
Term
Test marketing
Definition
Testing the complete marketing plan in a small geographic area that is similar to the large market the firm hopes to enter.
Term
Trialability
Definition
The ease of sampling a new product and its benefits.
Term
Unsought products
Definition
Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention.
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