Term
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Definition
convienance products
shopping procts
speciality products
unsought products |
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Term
| Business product characteristics? |
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Definition
result of derived demand.
classified as components and support products. |
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Term
| sales of business products frequently result from the sale of consumer products. |
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Definition
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Term
| are items that become part of the final product. |
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Definition
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Term
| items used to assist in producing other goods or services. |
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Definition
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Term
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Definition
installations
accessory equipment
supplies
industrial services |
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Term
| has tangible attributes that a consumers five senses can preceive |
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Definition
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Term
| is an item consumed in one or a few uses, such as fuel or food |
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Definition
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Term
| an that usually lasts over many years like car |
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Definition
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Term
| a thought that leads to an action such as a concept for a new invention, or getting people out to vote. |
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Definition
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Term
| generally includes not only physical goods but services and ideas |
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Definition
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Term
| unique identification number that defines an item for ordering or inventory purposes. |
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Definition
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Term
| newness compared to existing products? |
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Definition
| if a product if functionally different from existing products, it can be defined as new. |
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Term
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Definition
| the U.S. Federal Trade commission advises that the term new be limited to use with a product up to six months after it enters regular distribution. |
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Term
| newness from the organizations perspective? |
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Definition
product line extension
significant jump in technology and innovation
true innovation |
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Term
| newness from the consumers perspective? |
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Definition
continuous innovation
dynamically continuous innovation
discountinuous innovation |
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Term
| required no new learning by consumers |
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Definition
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Term
| disrupts consumers normal routine but does not require totally new learning |
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Definition
| dynamically continuous innovation |
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Term
| requires new learning and consumption patters by consumers |
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Definition
| discountinuous innovation |
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Term
| marketing reasons for new product failure |
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Definition
insignificant point of difference
incomplete marketing and product protocal before product development starts
not satisfying customer needs on critical factors.
bad timing
too little market attractiveness
poor product quality
poor execution of the marketing mix
no economical access to buyers |
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Term
| organizational problems in new product failure? |
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Definition
1. not really listening to the voice of consumers
2. skipping stages in new product process
3. pushing a porly conceived product into the market to generate quicker revenue
4. encountering groupthink in task force and comitee meetings
5. not learning critical takeaway lessons from past failures
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Term
| in new product strategy development what occurs? |
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Definition
protocol defined
swot analysis performed
strategic role identified |
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Term
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Definition
customer and supplier suggestions
employee and co-worker suggestions
reasearch adn dev. laboratories
competitive products analysis
universites, inventors, and small firms |
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Term
| an organization finds and executes creative new product ideas by developing strategic relationships with outside individuals and organizations |
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Definition
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Term
| screening and evaluation? |
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Definition
Internal approach--cem
external approach--concept tests |
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Term
| external evaluations with consumers that consist of preliminary testing of a new product idea rather than an actual product |
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Definition
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Term
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Definition
business fit
prototype
capacity management
off peak pricing |
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Term
| a full scale operating model of the product |
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Definition
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Term
| integrating the service component of the marketing mix with efforts to influence consumer demand |
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Definition
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Term
| to charge different prices for different times of the day or week to reflect the variations in demand for the service. |
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Definition
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Term
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Definition
brainstorming
service encounters
safety tests |
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Term
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Definition
test marketing
stimulated test markets
when test markets dont work |
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Term
| a technique that stimulates a full-scale test market but in a limited fashion |
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Definition
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Term
| involves offering a product for sale on a limited basis in a defined area. |
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Definition
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Term
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Definition
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Term
| introducing the product sequentially into geographical areas of the united states, to allow production level and marketing activites to build up gradually to minimize the risk of new-product faillure |
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Definition
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Term
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Definition
new product strategy development
idea generation
screening and evaluation
business analysis
development
market testing
commercialization |
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Term
| the disre for the product class rather than a specific brand, since there are few competitors with the same product |
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Definition
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Term
| preference for a specific brand |
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Definition
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Term
| high initial price to help the company recover costs of development as well as capitzalice the price insensitivity of early buyers |
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Definition
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Term
| a company prices low to help build unit volume |
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Definition
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Term
| people who tried the product, were satisfied, and bought again. |
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Definition
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Term
| dropping the product from the companys produc line |
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Definition
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Term
| when a company retains the product but reduces marketing costs |
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Definition
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Term
| is one for which significant customer education is required and there is an extended introductory period. |
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Definition
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Term
| little learning is required for consumers, and the benefits of purchase are readily understood. |
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Definition
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Term
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Definition
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Term
| experience rapid sales on introduction and than an equally rapid decline |
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Definition
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Term
| product diffuses or spreads through the population |
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Definition
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Term
| venturesome; higher educated; use multiple information sources |
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Definition
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Term
| leaders in social setting; slightly above average education |
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Definition
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Term
| deliberate; many informal social contracts |
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Definition
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Term
| skeptical; below average social status |
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Definition
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Term
| fear of debt; neighbors and friends are information sources |
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Definition
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Term
| the product is not compatible with existing habits |
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Definition
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Term
| the product provides no incentive to change |
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Definition
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Term
| physical, economic, social |
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Definition
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Term
| cultural differences or image |
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Definition
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Term
| the marketing efforts for a close-knit family of products or brands |
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Definition
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Term
| the sale of two or more seperate products in one package |
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Definition
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Term
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Definition
product bundling
new characteristics
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Term
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Definition
new customers
increasing a products use
creating a new situation |
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Term
| changes the place a product occupies in a consumers mind relative to competitive products |
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Definition
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Term
| other brand names cannot be spoken, for example apples colored apple |
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Definition
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Term
| which involves low cost copies of popular brands not manufactures by the original producer |
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Definition
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Term
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Definition
provides a competitive advantage
consumers willing to pay a premium |
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Term
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Definition
brand licensing
provides financial advantage |
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Term
| the practice of using a current brand name to enter a new market sedment it is product class |
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Definition
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Term
| the practice of using a current brand name to enter a different product class |
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Definition
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Term
| the pairing of two brand names of two manufacturers on a single product |
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Definition
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Term
| chief purpose is to confront competitor brands |
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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
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Term
| only marketing mix element that generate revenue? |
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Definition
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Term
| measured in terms of return on investments or return on assests |
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Definition
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Term
| give up immediate profit by developing quality products to penetrate competitive markets over the long terms |
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Definition
| managing for long-run profits |
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Term
| for a quarter or year, is common in many firms because the targets can be set and performance measured quickly |
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Definition
| maximizing current profit |
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Term
| occurs when a firm sets a profit goal usually determine by its board of directors |
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Definition
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Term
| the quantity produced or sold as pricing objectives |
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Definition
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Term
| many sellers who follow the market price for identical, commodity products |
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Definition
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Term
| many sellers who compete on nonprice factors |
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Definition
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Term
| few sellers who are sensitive to each others prices |
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Definition
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Term
| one seller who sets the price for a unique product |
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Definition
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Term
| 1 percent decrease in price produces more than a 1 percent increase in quantity demanded |
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Definition
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Term
| exists when a 1 percent decrease in price produces less than a 1 percent increase in quantity demanded. slight increase or decrease in price will not significantly affect the demand or units sold |
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Definition
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Term
| inventory carrying costs depend on? |
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Definition
| cost of employees and equipment |
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Term
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Definition
profit or non profit organization
government sponsored
delivered by people or equipment |
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Term
| services can be classified by? |
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Definition
| people based or equpiment based |
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Term
| properties such as color, size and style which can be determined before purchase |
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Definition
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Term
| which can be discerned only after purchase or during consumption |
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Definition
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Term
| characteritics that the consumer may find impossible to evaluate even after purchase and consumption |
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Definition
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Term
| consumers use these properties to evaluate services? |
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Definition
search
credence
experience |
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Term
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Definition
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Term
| free, most common form of publicity |
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Definition
| public service announcement |
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Term
| involves buying, sellings, and risk taking because they stock merchandise in anticipation of sales |
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Definition
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Term
| gathering, storing, and dispersing of products |
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Definition
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Term
| assists producers in making goods and services more attractive to buyers |
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Definition
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Term
| functions performed by intermediaries |
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Definition
transactional function
logistical function
facilitating function |
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Term
| minimize transcations and the cost of distribution for producers and customers |
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Definition
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Term
| producer and ultimate consumer deal directly with eachother |
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Definition
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Term
| intermediaries are inserted between the producer and consumers and perform numerous channel functions |
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Definition
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Term
| served primarily as the independent selling arms of producers and represents a producer to industrial users |
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Definition
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Term
| carry a broad assortment of merchandise and perform all channel functions |
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Definition
| general merchandise or fuline wholesaler |
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Term
| offer a relatively narrow range of products but have an extensive assortment within the product lines carried |
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Definition
| speciality merchandise or limitied line wholesalers |
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Term
| take title to merchandise and tupically perform fewer channel functions. make their profit from commissions or feeds paid for their services |
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Definition
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Term
| carries a producers inventory and performs the functions of a full-service wholesaler |
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Definition
| manufacturer's branch office |
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Term
| does not carry inventory, typically performs only a sales function, and serves an alternative to agents and brokers |
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Definition
| manufacturer's sales office |
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Term
| combination of successive stages of production and distribution under a single ownership |
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Definition
| corporate vertical marketing system |
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Term
| independent production and distribution firms integrate there efforts on contractual basis to obtain greater functional economies and marketing impact than they could achieve along |
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Definition
| contractual vertical marketing system |
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Term
| involves wholesaler that develops a contractual relationship with small, independent retailers to standardize and coordinate buying practices, merchandising programs, and inventory management efforts |
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Definition
| wholesaler-sponsored voluntary chains |
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Term
| exists when small, independents retailers form an organization that operates a wholesale facility cooperatively |
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Definition
| retailer-sponsored cooperatives |
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Term
| achieve coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership |
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Definition
| administered vertical marketing system |
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Term
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Definition
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Term
| critica dimensions of profitability |
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Definition
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Term
| occurs between different levels in a marketing channel |
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Definition
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Term
| occurs between intermediaries at the same level in the marketing channel |
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Definition
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Term
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Definition
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Term
place legal restrictions on specific marketing channel strategies and practices
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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
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Term
| internet-based network that permits secure business-to business communication between a manufacturer and its suppliers, distributors, and sometimes other partners |
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Definition
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Term
| products are intended to come to rest for some period of time, as in the again of products or in storing household goods |
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Definition
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Term
| designed to facilitate the timely movement of goods and represents a very important part of a supply chain |
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Definition
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Term
| involves moving goods over short distances into, within, and out of warehouses and manufacturing plants, is a key part of warehouse operations. |
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Definition
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Term
| 5 dimensions of service quality |
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Definition
reliability
tangibles
responsiveness
assurance
empathy |
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Term
| are based on the size of an individual purchase order. They encourage large individual purchase orders |
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Definition
| non-cumulative quantity discounts |
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Term
| apply to the accumulation of purchases of a product over a given time period. Encourages repeat buying by a single customer. |
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Definition
| cumulative quantity discount |
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Term
| encourage buyers to stock inventory earlier than their normal demand |
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Definition
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Term
| to encourage retailers to pay their bills quickly manufacturers offer this |
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Definition
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Term
| are reductions from list or quoted price to buyers for performing some activity |
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Definition
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Term
| practice of replacing promotional allowances with lower maunfacturer list price |
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Definition
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Term
| all buyers pay the same delivered price for the products regardless their distance from sellers |
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Definition
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Term
| a firm divides its selling territory into geographic areas or zones |
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Definition
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Term
| the buyer is allowed to deduct frieght expenses from the list of the goods, so the seller agrees to pay or absorb the transportation costs |
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Definition
| FOB with frieght allowed pricing |
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Term
| when two or more competitors explicitly or implicity set prices |
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Definition
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Term
| involves controlling agreements beteen independent buyers and sellers, whereby sellers are required to not sell product below a minimum retail price |
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Definition
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Term
| price deals that mislead consumers |
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Definition
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