Term
| undifferentiated marketing |
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Definition
| targeting everyone--a large group |
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Term
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Definition
| targeting several segments, has the potential to make more total sales, but it does cost more money |
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Term
| concentrated (niche) marketing |
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Definition
| large share of a smaller segment--whole foods-- more effective and efficient |
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Term
| a difference used to position the product should be 7 things.. IDSCPAP |
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Definition
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable |
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Term
| four characteristics of a service |
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Definition
intangibility
variability
inseparability
perishability |
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Term
| information asymmetry problem |
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Definition
| quality is unobservable. Marketers send signals of quality. Warranty is an example..marketers only offer warranty if they are confident in their product. |
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Term
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Definition
| Core customer value/actual product/ augmented product |
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Term
| brand extension vs. line extension |
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Definition
Brand extension is the Huggies brand capitalizing on new product forms such as Huggies body care.
Line extension is when the product line expands to include new forms such as morton's many salt flavors. |
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Term
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Definition
self-service (walmart)
limited-service (JCP)
full-service (nordstroms) |
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Term
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Definition
merchant wholesalers--largest group;
agents and brokers--represent buyers or sellers, bring buyers and sellers together
manufacturers' sales branches and offices |
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Term
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Definition
| using sales force and trade promotion to push the product through channels |
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Term
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Definition
| spending a lot on advertising and consumer promotion to PULL consumers to buy the product |
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Term
| PR has a lower cost and a stronger impact on public awareness than advertising |
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Definition
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