Term
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Definition
| everything, both favorable and unfavorable,that a person receives in an exchange |
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Term
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Definition
| used to manufacture other goods or services or to resell to other customers |
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Term
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Definition
| bought to satisfy an individual's personal wants |
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Term
| Consumer Product Classification |
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Definition
Convenience- inexpensive, little shopping
Shopping- more expensive, comparison shopping
Specialty- extensive search, substitutes unacceptable
Unsought-unknown to potential buyer or unseeked |
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Term
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Definition
| specific version of a product that can be designated as a distinct offering among an organization's products |
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Definition
| a group of closely related product items |
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Term
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Definition
| all products that an organization sells |
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Definition
| the number of product lines an organization offers |
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Term
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Definition
| the number of product items in a product line |
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Term
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Definition
| changing one or more of a product's characteristics |
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Term
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Definition
| the practice of modifying products so those that have already been sold become obsolete before they actually need replacement |
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Term
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Definition
| adding additional products to an existing product line in order to compete more broadly in the industry |
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Term
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Definition
| adding additional products to an existing product line in order to compete more broadly in the industry |
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Term
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Definition
| a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products |
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Term
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Definition
| that part of a brand that can be spoken, including letters, words, and numbers |
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Term
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Definition
| the elements of a brand that cannot be spoke |
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Term
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Definition
| the value of company and brand names |
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Term
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Definition
| consistent preference for one brand over all others |
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Term
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Definition
Generic-
Manufacturer's- the brand name of a manufacturer
Private-a brand name owned by a wholesaler or retailer
Captive- a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation |
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Term
| Individual branding strategies |
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Definition
| using different brand names for different products |
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Term
| family branding strategies |
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Definition
| marketing several different products under the same brand name |
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Term
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Definition
| placing two or more brand names on a product or its package |
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Term
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Definition
| the exclusive right to use a brand or a part of a brand |
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Term
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Definition
| a trademark for a service |
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Term
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Definition
| identifies a product by class or type and cannot be trademarked |
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Term
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Definition
| a type of package labeling that focuses on a promotional theme or logo, and consumer info is secondary |
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Term
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Definition
| designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase |
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Term
| Universal product codes (UPC) |
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Definition
| a series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products |
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Term
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Definition
a confirmation of the quality or performance of a good/service
Express warranty- a written guarantee
Implied warranty- an unwritten guarantee that the good or service is fit for the purpose for which it was sold |
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Term
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Definition
| a product new to the world, the market, the producer, the seller, or some combination of these |
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Term
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Definition
1 New-to-the-world(discontinuous)- create entirely new mkt, smallest category
2 New product lines- new product line to established mkt
3 additions to existing prod lines
4 improvements/revisions of existing products
5 Repositioned product- existing products targeted to new mkts
6 Lower-priced products- similar product provided at lower price |
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Term
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Definition
| A plan that links the new product development process with the objectives of the mkting department, the business unit, and the corporation |
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Term
| Product development process |
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Definition
New-product strategy
Idea generation
Idea screening
Business analysis
Development
Test Mkting
Commercialization
New product |
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Term
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Definition
| the process of getting a group to think of unlimited ways to vary a product or solve a problem |
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Term
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Definition
| the first filter in the product development process- eliminates inappropriate ideas |
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Term
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Definition
| a test to evaluate a new-product idea, usually before any prototype has been created |
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Term
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Definition
| the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated |
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Term
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Definition
| a prototype is developed and a marketing strategy is outlined |
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Term
| Simultaneous Product Development |
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Definition
| a team-oriented approach to new-product development |
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Term
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Definition
| the limited intro of a product and a marketing program to determine the reactions of potential customers in a market situation |
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Term
| simulated (lab) market testing |
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Definition
| the presentation of advertising and other promotional materials for several products, including a test product, to members of the product's target market |
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Term
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Definition
| the decision to market a product |
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Term
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Definition
| the process by which the adoption of an innovation spreads |
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Term
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Definition
1 Innovators
2 Early Adopters
3 Early Majority
4 Late Majority
5 Laggards |
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Term
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Definition
| a concept that provides a way to trace the stages of a product's acceptance |
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Term
| Rate of Adoption (5 characteristics) |
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Definition
1 complexity
2 compatibility
3 relative advantage
4 observability
5 trialability |
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Term
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Definition
| the result of applying human or mechanical efforts to people or objects |
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Term
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Definition
| the inability of services to be touched seen tasted heard or felt in the same manner that goods can be sensed |
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Term
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Definition
| inability of the production and consumption of a service to be separated; consumers must be present during the production |
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Term
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Definition
| variability of the inputs and outputs of services, which causes services to tend to be less standardized and uniform than goods |
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Term
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Definition
| inability of services to be stored, warehoused, or inventoried |
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Term
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Definition
| a characteristic that can be easily assessed before purchase |
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Term
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Definition
| a characteristic that can be assessed only after use |
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Term
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Definition
| a characteristic that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience |
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Term
| Facets of service quality (5) |
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Definition
Tangibles- the physical evidence of a service, including the physical facilities, tools, and equipment used to provide the service
Reliability- ability to perform a service dependably, accurately, and consistently
Responsiveness- the ability to provide prompt service
Assurance- the knowledge and courtesy of employees and their ability to convey trust
Empathy- caring, individualized attention to customers |
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Term
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Definition
| the most basic benefit the consumer is buying |
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Term
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Definition
| a group of services that support or enhance the core service |
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Term
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Definition
| a strategy that uses technology to deliver customized services on a mass basis |
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Term
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Definition
| treating employees as customers and developing systems and benefits that satisfy their needs |
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Term
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Definition
| exists to achieve some goal other than the usual business goals of profit, market share, or return on investment |
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Term
| Nonprofit organization marketing |
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Definition
| the effort by nonprofit organizations to bring about mutually satisfying exchanges with target markets |
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Term
| Public Service Announcement (PSA) |
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Definition
| promotes a program of a federal, state, or local government or of a nonprofit organization |
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Term
| Relationship Marketing Levels |
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Definition
Level 1- pricing incentives
Level 2-pricing incentives & social bonds
Level 3- financial & social bonds & structural bonds |
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