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Mark110
Chapter 10
23
Marketing
Undergraduate 1
10/25/2007

Additional Marketing Flashcards

 


 

Cards

Term
Business Analyst
Definition
The stage of the new-product process that involves specifying the product features and marketing strategy and making necessary financial projections needed to commercialize a product.
Term
Business Goods
Definition
Products that assist directly or indirectly in providing products or resale
Term
Commercialization
Definition
The stage of the new-product process that involves positioning and launching a new product in full-scale production and sales.
Term
Consumer Goods  
Definition
Products purchased by the ultimate consumer.
Term
Convenience Goods
Definition
Items that the consumer purchases frequently and with a minimum of shopping effort.
Term
Development
Definition
The stage in the new-product process that involves turning the idea on paper into a prototype.
Term
Failiure Fee
Definition
A penalty payment a manufacturer makes to compensate a retailer for failed sales from its valuable shelf space.
Term
Idea Generation
Definition
Developing a pool of concepts as candidates for new products.
Term
Market Testing
Definition
Expose actual products to prospective consumers under realistic purchase conditions.
Term
New product Process
Definition

The stages a firm uses to indentify business opportunities and convert them to a seleable good or service.

New-product strategy development, idea generation, screening and evaluating, business analysis, development, market testing, commercialization 

Term
New Product Strategy Development
Definition
The sate of the new-product process that defines the role for a new product in terms of the firm's overall corporate objectives.
Term
Product
Definition
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.
Term
Product Line
Definition
A group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall withing a given price range.
Term
Product Mix
Definition
The numbere of product lines offered by a company.
Term
Production Goods
Definition
Items used in the manufacturing process that become part of the final product.
Term
Protocol
Definition
A statement that, before product development begins, indentifies (1) a well-defined market; (2) specific customers' needs, wants, and preferences; (3) what the prduct will be and do.
Term
Screening and Evaluation  
Definition
The stage of the new-product process that involves internal and external evaluations of the new-product ideas to eliminate those that warrant no further effort.
Term
Shopping Goods
Definition
Items for which the consumer compares several alternatives on such criteria as price, quality, or style.
Term
Six Sigma
Definition
A means to 'delight the customer' by achieving quality through a highly diciplined process to focus on developing and delivering near perfect products and services.
Term
Slotting Fee
Definition
A payment a manufacturer makes to place a new item on a retailer's shelf.
Term
Specialty Goods
Definition
Items that the consumer makes a special effort to search out an buy.
Term
Support goods
Definition
Items used to assist in producing other goods and services.
Term
Unsaught goods
Definition
Items that the consumer either does not know about or knows about but does not initially want.
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