Term
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Definition
| Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want. |
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Term
| How do consumers see products? |
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Definition
| As complex bundles of benefits that satisfy their needs |
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Term
| Identify the two broad classes that products and services fall into based on the types of consumers that use them. |
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Definition
| Consumer products and industrial products |
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Term
| Identify the three groups of industrial products and services. |
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Definition
| Materials and parts, capital items, and supplies and services |
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Term
| What is corporate image advertising? |
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Definition
| A major tool companies use to market themselves to various publics |
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Term
| What does organization marketing consist of? |
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Definition
| Activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization |
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Term
| What is total quality management (TQM)? |
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Definition
| An approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes |
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Term
| What is the most distinctive skill of marketers? |
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Definition
| Their ability to build and manage their brands |
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Term
| What is the purpose of the Fair Packaging and Labeling Act of 1966? |
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Definition
| To require companies to adhere to federal and state laws regulating labeling |
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Term
| What are the four dimensions of a company's product mix? |
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Definition
| Width, length, depth and consistency |
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Term
| Product quality is not one of the marketer's major positioning tools. |
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Definition
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Term
| Brand names help consumers identify products that might benefit them. |
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Definition
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Term
| Product safety is not a major packaging concern |
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Definition
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Term
| The Fair Packaging and Label Act was established in 1986. |
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Definition
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Term
| There are several reasons for product line filling. |
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Definition
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Term
| A powerful brand has high brand equity. |
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Definition
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Term
| Private brands can be hard to establish. |
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Definition
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Term
| Co-branding does not offer many advantages. |
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Definition
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Term
| Line extensions involve some risks. |
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Definition
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Term
| Companies don't have to worry about managing their brands. |
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Definition
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Term
| How does marketing mix planning begin? |
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Definition
| By formulating an offering that brings value to target customers |
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Term
| What are the three levels of product? |
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Definition
| Core benefit, actual product, and augmented product |
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Term
| How do marketers classify consumer products? |
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Definition
| Based on how consumers go about buying them |
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Term
| Identify the other market offerings marketers have broadened the concept of "product" to include. |
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Definition
| Organizations, persons, places, and ideas |
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Term
| What does person marketing consist of? |
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Definition
| Activities undertaken to create, maintain, or change attitudes or behavior toward particular people |
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Term
| What does place marketing involve? |
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Definition
| Activities undertaken to create, maintain, or change attitudes or behavior toward particular places |
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Term
| Identify the three levels at which marketers make product and service decisions. |
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Definition
| Individual product decisions, product line decisions, and product mix decisions |
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Term
| What are the two dimensions of quality? |
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Definition
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Term
| Identify the marketers' most important task. |
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Definition
| Building and managing brands |
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Term
| Identify the ways that a company can lengthen its product line. |
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Definition
| Line stretching and line filling |
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Term
| A company's market offering often includes both tangible goods and services. |
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Definition
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Term
| Unsought products are consumer products that the consumer either does not know about or knows about but does not normally think of buying. |
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Definition
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Term
| Developing a product or service involves defining the benefits it will offer. |
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Definition
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Term
| Total quality principles are a requirement for success. |
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Definition
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Term
| Companies now use a sophisticated mix of phone, e-mail, fax, and Internet, and interactive voice and data technologies in order to provide support services that were not possible before. |
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Definition
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Term
| An alternative to product line stretching is product design stretching. |
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Definition
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Term
| A powerful brand has high brand equity. |
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Definition
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Term
| Marketers do not need to position their brands clearly in target customers' minds. |
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Definition
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Term
| Branding poses challenging decisions to the marketer. |
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Definition
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Term
| The brand contract must be simple and honest. |
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Definition
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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
| everything both favorable and unfavorable, that a person receives in an exchnage |
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Term
| products classified as ____ |
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Definition
business
consumer products |
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Term
| Key distinction is their_____ |
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Definition
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Term
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Definition
| used to manufacturer other goods or servcies to facilitate an organizations operations, or resell to toher customers |
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Term
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Definition
| bought to satisfy an individuals personalm wants |
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Term
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Definition
| relatively inexpensive item that merits little shopping effort |
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Term
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Definition
| usually more expensive than a convenience product and is found in fewer stores |
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Term
| 2 Types of shopping products |
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Definition
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Term
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Definition
washers
dryers
refrigerators
lowest price brand that ahs the desired features |
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Term
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Definition
furniture
clothing
housing
universities
prices, quality, and features
finding the best product or brand for me |
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Term
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Definition
particular product and are very reluctant to accpet substitutes
Omega watches-rolls royce |
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Term
| Marketers of specialty products___ |
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Definition
selective advertising
distribution few outlets
brand names are of quality service |
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Term
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Definition
| product unknown to the potential buyer or a known product that the buyer does not actively seek |
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Term
| Unsought products example |
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Definition
insurance
plots
require aggressive personal selling |
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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 organizations products |
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Term
| Campbells Cream of Chicken Soup |
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Definition
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Term
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Definition
group of closely related product items
Soups represent one product line
different sizes and shapes also distinguish itmes in a product line |
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Term
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Definition
| includes all the products it sells |
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Term
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Definition
refers to the number of product lines
"the width of Campbells products mix is 5 product lines" |
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Term
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Definition
number of product items in a product line
"four product items, forzen entree product line includes 3 product items" |
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Term
| Firms increase the width of their product to___ |
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Definition
Diversify risks
capitalize on established reputations
"fiber one- yogurt-bread-baking mixes-granola bars-cottage cheese" |
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Term
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Definition
| product lines to attratc buyers with different preferences to increase sales and profits by further segmenting the market to capitalize on economies of scale in production and marketing |
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Term
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Definition
chnages one or more of a products characteristics
Quality
functional modification
style modification |
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Term
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Definition
practice of modifying products so that those that have already been sold become obsolete before they actually need repalcement
printers
cell phones |
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Term
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Definition
involves changing consumers perceptions of a brand
laundry detergent
movies |
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Term
| What motivates firms to reposition? |
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Definition
declining sales
changing demographics
chnages in social environment |
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Term
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Definition
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Term
| services and ideas are also |
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Definition
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Term
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Definition
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Term
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Definition
| private label or store brand is a brand name owned by a wholesaler or a retailer |
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Term
| perceptions about quality are part of the ______ |
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Definition
| reason for the success of private brands |
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Term
| A trusted store brand can___ |
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Definition
| differentiate a chain from its competitors |
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Term
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Definition
carry no evidence of the stores affiliation
manufactured by a third party
sold exclusively at the chains |
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Term
| Strategy of captive brands |
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Definition
| allows the retailer to ask a price similar to manufacturers brands and the captive brands are typically set along side the mainstream products |
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Term
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Definition
| different brand names for different products |
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Term
| When do companies use individual branding? |
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Definition
| when their products vary greatly in use or performance |
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Term
| Would it make sense to to use the same brand name for a pair of dress socks and a baseball hat? |
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Definition
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Term
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Definition
| a company that markets several different products under the same brand name |
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Term
| example of family branding |
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Definition
| jack daniels whiskey, mustard, playing cards, and clothing lines |
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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
| 3 common types of cobranding |
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Definition
ingredient branding
cooperative branding
complementary branding |
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Term
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Definition
| identifies the brand of a part that makes up the product |
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Term
| example of ingredient branding |
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Definition
| proctor and gamble has developed mr. clean wipes with febreeze, febreeze is cobranded with Tide and Bounce |
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Term
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Definition
| two brands receiving equal treatment borrow from each other brand equity |
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Term
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Definition
| products are advertised or marketed to suggest usage such as the spirits brand Seagrams and a compatible mixer |
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Term
| 3 important functions of packaging |
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Definition
contain and protect products
promote products and facilitate storage
convenience of products |
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Term
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Definition
| facilitate recycling and reduce environmental damage |
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Term
| An integral part of any package is its___ |
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Definition
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Term
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Definition
| focuses on promotional theme or logo, and consumer information is second |
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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
| example of informational labeling |
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Definition
low fat
light
reduced cholesterol
low sodium |
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Term
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Definition
| when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly |
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Term
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Definition
| appear on most items in supermarkets and other high volume outlets, introduced in 1974 |
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Term
| 3 options of handling a brand name |
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Definition
one brand name everywhere
adaptations and modifications
different brand names in different markets |
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Term
| advantages of one brand name everywhere |
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Definition
| greater identification of the product from market to market and ease of coordinating promotion from market to market |
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Term
| example of adaptations and modification |
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Definition
| must speak the same language and culture |
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Term
| 3 important factors in international marketing |
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Definition
labeling
aesthetics
climate |
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Term
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Definition
protects the buyer and gives essential information about the product
confirms the quality or performance of a good or service |
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Term
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Definition
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Term
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Definition
| unwritten guarantee that the good or service is fit for the purpose for which it was sold |
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