Shared Flashcard Set

Details

Marketing Ch 08
USF Marketing BUS 302 Barsky Ch 08
49
Marketing
Undergraduate 3
09/22/2014

Additional Marketing Flashcards

 


 

Cards

Term
product
Definition
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. p 226
Term
service
Definition
p 226 Essentially intangible activity, benefit, or satisfaction for sale, which does not result in the ownership of anything. p 226
Term
consumer product
Definition
bought by final consumers for personal consumption p 228
Term
convenience product
Definition
Consumer product that customers usually buy frequently, immediately, & w/ minimal comparison & buying effort. p 229
Term
convenience product example
Definition
book: laundry detergent, candy, magazines. Usu priced low; placed many places so they are avail when consumers ready to buy
Term
shopping product
Definition
Consumer product that customer (while selecting & purchasing,) usu. compares attributes as suitability, quality, price, & style. p 229
Term
shopping product example
Definition
book: furniture, used cars, hotel & airline srvc. Marketers usu. place less frequently, provide deeper sales support. p 229
Term
specialty product
Definition
Consumer product w/ unique characteristics or brand identification for which signify. group of buyers is willing to make a special purchase effort. p 229
Term
specialty product example
Definition
book: certain car brands, gourmet food, designer clothes, medical or legal srvcs. p 229
Term
unsought product
Definition
consumer either does not know about, or knows about but does not normally consider buying. p 229
Term
unsought product example
Definition
book: life insurance, preplanned funeral services, blood donations p 229
me: other insurance, such as disability, renter's
Term
industrial product
Definition
bought by indiv. & orgs for further processing or for use in conducting a business. p 229
Term
industrial product example
Definition
book: lawn mower for home is consumer product, lawn mower for landscaping biz is industrial product p 299
Term
social marketing
Definition
use of commercial marketing concepts & tools in programs designed to influence individuals’ behavior to improve their well-being and that of society. p 231
Term
social marketing example
Definition
book: Ad Council of Amer. campaigns re health care, educ., human rights. However, not limited to promotion p 231
me: The More You Know; Amnesty International
Term
product quality
Definition
Characteristics of prod/ srvc that affect its ability to satisfy stated or implied customer needs. p 231
Term
product quality example
Definition
marketers go beyond "free of defects" to create value; Siemens defines quality: “Quality is when our customers come back and our products don’t.” p 231
Term
brand
Definition
name, term, sign, symbol, or design, or combination of these, that identifies & differentiates products or services of seller(s) from competitors. p 233
Term
brand example
Definition
Coca-Cola's curved bottle, red color, cursive font evoke American icon, Santa Claus & polar bears p 233
Term
packaging
Definition
activities of designing & producing container or wrapper for product. p 233
Term
packaging example
Definition
not everyone notices our brand, but everyone interacts with package p 233
Term
product line
Definition
group of products closely related because they function in similar manner, are sold to same customer groups, marketed through the same types of outlets, fall within given price ranges. p 236
Term
product line example
Definition
book: Nike produces product lines of clothing; Marriott produces lines of hotels p 236
Term
product mix aka product portfolio
Definition
set of all product lines that particular seller offers p 236
Term
product mix/ portfolio example
Definition
Campbell's 3 product lines: healthy begs, bakes snacks, simple meals; sublines of simple meals are soups, sauces, pastas p 236
Term
Service intangibility
Definition
Services cannot be seen, tasted, felt, heard, or smelled before they are bought. p 238
Term
service intangibility example
Definition
airline passengers buy ticket to transport them and their luggage p 238 [they don't buy a piece of plane - me]
Term
service inseparability
Definition
services produced & consumed at same time, can't be separated from providers, whether people or machines p 238
Term
service inseparability example
Definition
book: employee who provides srvc is part of it p 238 [me: vending machine is part of Coke sales]
Term
service variability
Definition
srvc quality depends greatly on who, when, where, how they are provided p 238
Term
service variability example
Definition
book: hotel may have rep for friendlier srvc than others, and employee checking in may be friendly, but nearby grumpy employee is variable that impacts quality p 238 me: a Quarter Pounder is not popular in India
Term
service perishability
Definition
services can't be stored for later sale or use p 239
Term
service perishability example
Definition
if cruise package is not sold, the chance to sell it is gone
Term
service profit chain
Definition
links service profits with employee and customer satisfaction p 239
Term
service profit chain example
Definition
me: If employees at my local Whole Foods seem oppressed and are unfriendly, I don't want to shop there. Instead, I will go to my local Trader Joe's where the employees seem happier and are nicer
Term
Internal marketing
Definition
Orienting & motivating customer-contact employees & supporting service employees to work as team to provide customer satisfaction. p 241
Term
internal marketing example
Definition
book: Zappos starts by hiring the right people and carefully orienting and inspiring them to give unparalleled customer service. p 241 me: team building exercises give employees chance to bond, which increases empathy and then helping each other
Term
Interactive marketing
Definition
Training service employees in fine art of interacting w/ customers to satisfy their needs. p 241
Term
Interactive marketing example
Definition
book: Zappos only hires people w/ "innate passion to serve" p 241 me: Training employees to have a conversation that hits all the marks, not follow a script
Term
brand equity
Definition
differential effect that knowing brand name has on customer response to product or its marketing. p 244
Term
brand equity example
Definition
deep connection to with customer, whether pos. or neg., e.g. iconic Disney or newer, exciting YouTube p 244 me: BP has negative brand equity
Term
Store brand aka private brand
Definition
brand created & owned by a reseller of product or srvc. p 248
Term
store/ private brand example
Definition
me: consumers know that Trader Joe's brand Island Teriyaki Sauce is really a second label produced by private label Soy Vay
Term
Co- branding
Definition
practice of using the established brand names of two different companies on the same product. p 250
Term
Co- branding
Definition
book: KC Masterpice & Lay's p 250 me: Tapatio & Doritos
Term
Line extension
Definition
Extending existing brand name to new forms, colors, sizes, ingredients, or flavors of existing product category. p 250
Term
Line extension exmple
Definition
book: Cheerios Honeynut, BananaNut, Multigrain p 250 me: Oreos double-stuffed, vanilla, original
Term
Brand extension
Definition
Extending an existing brand name to new product categories. p 251
Term
Brand extension example
Definition
book: Special K has extended from cereal to granola bars & protein drinks me: Apple went from Macs to iPhones, iPods, etc.
Supporting users have an ad free experience!