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Definition
| a verbal label attached to a product, like 'Folgers' |
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Definition
| the range of types of offerings, from the tangible to the intangible (or good-dominant to service-dominant) |
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Definition
| strategy in which the firm seeks to develop new markets for the product |
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Definition
| the more a person likes a commercial, the more they will accept to information in the commercial as being true |
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Definition
| the price of a single unit of a particular product |
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Definition
| the cumulative proportion of the market that adopts the product |
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Definition
| adjusting a presentation to fit the selling situation in order to provide the best solution for the buyer |
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Definition
| pricing system in which consumers participate in setting the price for items through bargaining |
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Definition
| core of the selling process; when the salesperson's objective is to convert a prospect into a customer by creating a desire for the product or service |
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Definition
| flowchart of the points of interaction between a consumer and a service provider |
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Definition
| the number of product lines offered by a company |
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Definition
| Intangibility, Inventory, Inseparability, Inconsistency |
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Term
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Definition
| service quality is not as easy to control as product quality |
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Term
| Dynamically Continuous Innovation |
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Definition
| kind of innovation in which the same product is presented in a relatively different form. advertise points of difference and benefits to consumers |
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Term
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Definition
| (TFC+TVC+Profit)/ # of units |
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Term
| New-product strategy development |
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Definition
| the role for a new product in terms of the firm's overall corporate objectives |
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Term
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Definition
| a process in which a company would consider whether it is actually capable of manufacturing the product |
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Term
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Definition
| the television program Friends was a ____ within the television ____. |
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Term
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Definition
| go beyond the basic benefits offered by a product |
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Term
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Definition
| adjusting the presentation to fit the selling situation |
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Definition
| focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution |
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Term
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Definition
| the most important and most difficult stage of the personal selling process |
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Term
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Definition
| starts at a high price and gradually moves down. inelastic demand |
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Term
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Definition
| starts at a low price and gradually raises it. Elastic demand |
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Term
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Definition
| the practice of simultaneously increasing product and service benefits while maintaining or decreasing price |
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Term
| critical strategic pricing ratio |
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Definition
| compares the consumer's total perceived benefit to the price he or she has to pay to obtain the product |
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