Term
| intangible activities or benefits that an organization provides to satisfy customer's needs in exchange for money or something else of value |
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Definition
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Term
| products purchased by the ultimate consumer |
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Definition
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| products that organizations buy that assist in providing other products for resale |
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Definition
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Term
| items that the consumer purchases frequently, convienantly, and with a minimum of shopping effot |
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Definition
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Term
| are items for which the consumer compares several alternatives on criteria such as price, quality, or style. |
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Definition
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Term
| items that the consumer makes a special effort to seach out and buy |
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Definition
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Term
| are items that the consumer does not know about or know about but does not initially want. |
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Definition
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Term
| specific product that has a unique brand, sie, or price. |
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Definition
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Term
| group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a given price range. |
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Definition
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Term
| consists of all of the product lines offered by an organization |
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Definition
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Term
| a statement that, before the product development begins, identifies: a well-defined target market, specific customers' needs, wants, and preferences; and what the product will be and do |
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Definition
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Term
| the seven stages an organizaton goes through to identify busines opportunites and convert them to a salable good or service. |
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Definition
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Term
| is the stage of the new-product process that defines that role for a new product in terms of the firm's overall objectives. |
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Definition
| new-product strategy development. |
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Term
| is the stage of the new-product process that develops a pool of concepts as candidates for new products, building upon the previous stages. |
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Definition
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Term
| is the stage of the new prodcut process that internally and externally evaluates new product ideas to eliminate those that warrant no further effort. |
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Definition
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Term
| which is the process of managing the entire customer experience within the firm |
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Definition
| customer experience management. |
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Term
| specifies the features of the product and the marketing strategy needed to bring to to market and make financial projections |
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Definition
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Term
| stage of the new-product proces that turns the idea on paper into a prototype. |
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Definition
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Term
| is the stage of the new product proces that involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy |
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Definition
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Term
| the stage of the new-product process that positions and launches a new product in full-scale production and sales. |
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Definition
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Term
| a good service of idea consisting of a bundle of tangible and intangible attributes that satisfies consumer's needs and is recieved in exchange for money or something else of value. |
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Definition
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Term
| describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline. |
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Definition
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Term
| refers to the entire product category or industy, such as pre-recorded music. |
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Definition
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Term
| pertains to variations within the product class. |
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Definition
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Term
| involves altering a product's characteristic, such as its quality, performance, or apperance, to increase the product's value to customers and increase sales. |
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Definition
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Term
| strategies, a company tries to find new customers, increase a product's use among existing customers, or create new use situations |
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Definition
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Term
| involves adding value to the product through additional features or higher-quality materials |
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Definition
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Term
| involves reducing the number of feautures, quality or price. |
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Definition
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Term
| in which an organization uses a name, phrase, design, symbols, or combination of these to identify its products and distinguish them from those compeitiors. |
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Definition
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Term
| any word, device, or combination of these used to distinguish a seller's goods or services |
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Definition
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Term
| is a commerical, legal name under which a company does business. |
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Definition
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Term
| identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it. |
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Definition
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Term
| set of human characteristics associated with a brand name |
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Definition
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Term
| the added value abrand name gives to a product beyond the functional benefits. |
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Definition
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Term
| contractual agreement whereby one company allows its brand names or trademarks to be used with products or services offered by another company for a royalty or fee. |
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Definition
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Term
| a company uses one name for all its products ina product class |
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Definition
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Term
| involves giving each product a distinct nae. |
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Definition
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Term
| when it manufactures products but sells them under the name of a wholesaler or retailer. |
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Definition
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Term
| where a firm markets products under its own name and that of a reseller because the segment attracted to th reseller is different from its own market. |
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Definition
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Term
| component of a product refers to any contained in which it is offered for sale and on which label information if conveyed. |
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Definition
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Term
| an integral part of the package and typically identifies the product of brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients. |
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Definition
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Term
| which is a statement indicating the liability of the manufacturer for product deficiencies. |
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Definition
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Term
| are intangible activities or benefits that an organization provides to satisfy consumer's needs in exchange for money or something else of value |
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Definition
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Term
the four unique elements to services, intangibility
inconsistency
inserparability
inventor
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Definition
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Term
| when the service provider is available but there is no demand |
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Definition
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Term
| what companies bring to the market ranges from the tangible to the intangible or good-dominated to service-dominated offereings |
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Definition
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Term
| differences between the consumer's expectation and experience are identified through |
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Definition
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Term
| a flowchart of the points of interaction between consumer and service provider |
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Definition
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Term
| in addition to the four Ps, the service marketing mix includes people, physical environment, process, and productivity |
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Definition
| eight Ps of services marketing |
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Term
| consists of charging different prices during different times of the day or during different days of the week to reflect variations in demand for the service |
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Definition
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Term
| based on the notion that a service organization must focus its employees, or internal market, before successful programs can be directed at customers |
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Definition
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Term
| is the process of managing the entire customer experience with the company |
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Definition
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Term
| service component of the marketing mix must be integrated with efforts to influence consumer demand |
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Definition
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Term
| money or other considerations exchanged for the ownership or use of a product or service |
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Definition
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Term
| practice of exchanging products and services for other products and services rather than money |
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Definition
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Term
| ratio of percieved benefits to price |
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Definition
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Term
| the practice of simultaneously increasing product and service benefits while maintaining or decreasing price |
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Definition
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Term
| involves specifying the role of price in an organizations marketing and strategic plans |
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Definition
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Term
| is a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price. |
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Definition
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Term
| factors that determine consumers' willingness and ability to pay for products and services |
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Definition
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Term
| the total money recieved from sale of a product |
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Definition
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Term
| the change in total revenue that results from producing and marketing one additional unit of a product |
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Definition
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Term
| factors that limit the range of prices a firm may set |
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Definition
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Term
| the average amount of money recieved for selling one unit of a product, or simply the price of that unit |
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Definition
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Term
| percentage change in quantity demanded relative to percentage change in price |
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Definition
| price elasticity of demand |
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Term
| continuing , concise trade-off of incremental costs against incremental revenues |
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Definition
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Term
| technique that analyzes the relationship between total revenue and total cost to determine profit ability at various levels of output |
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Definition
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Term
| is the quantity at which total revenue and total costs are equal |
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Definition
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Term
| is the total expense incurred by a firm in producing and marketing a product |
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Definition
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Term
| is the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold |
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Definition
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Term
| is the sum of expenses of the firm that vary directly with the quantity of a product that is produced and sold |
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Definition
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Term
| is variable cost expressed on a per unit basis for a product |
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Definition
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Term
| is the change in total cost that results from producing and marketing one additional unit of a product |
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Definition
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Term
| shows a graphic presentation of the break even analysis |
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Definition
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Term
| setting the highest initial price that customers really desiring the product are willing to pay |
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Definition
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Term
| setting a low initial price on a new product to appeal immediately to the mass market |
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Definition
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Term
| setting a high price so that quality- or status-concious consumers will be attracted to the product and buy it |
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Definition
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Term
| firms selling not just a singly project but a line of products may price them at a number of different specific pricing points |
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Definition
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Term
| setting prices a few dollars or cents under an even number |
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Definition
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Term
| consists of estimating the price that ultimate consumers would be willing to pay for a product, working backward through markup taken by retailers and wholesalers, and then deliberatley adjusting the composition and features of the product to achieve the target price to consumers |
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Definition
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Term
| the marketing of two or more product in a single package price |
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Definition
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Term
| the charging of different prices to maximize revenue for a set amount of capacity at any given time |
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Definition
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Term
| adding a fixed percentage to the cost of all items in a specific product class |
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Definition
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Term
| involces summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price. |
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Definition
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Term
| based on the learning effect, which hold that the unit cost of many products and services declines by 10 percent to 30 percent each time a firms experience at producing and selling them doubles |
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Definition
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Term
| a firm may set an annual target of a specific dollar volume of profit |
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Definition
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Term
| setting a price to achieve a profit that is a specified percentage of the sales volume |
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Definition
| target-return-on sales pricing |
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Term
| setting a price to achieve an annual target return-on-onvestment |
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Definition
| target return-on-investment pricing |
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Term
| setting a price that is dictated by tradition, a standarized channel of distribution, or other competitive forces |
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Definition
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Term
| setting a market price for a product or product class based on a subjective feel for the competitios' price or market price as the benchmark |
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Definition
| above-at-or below market pricing |
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Term
| deliberately selling a product below its customary price, not to increase sales, but to attract customers attention in hopes that they will buy other products as well |
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Definition
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Term
| setting one price for all buyers of a product or service |
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Definition
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Term
| setting different prices for products and services depending on individual buyers and purchase situations |
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Definition
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Term
| setting of prices for items in a product line |
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Definition
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Term
| involves successive price cutting by competitors to increase or maintain their unit sales or market share |
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Definition
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Term
| reductions in unit costs for a larger order |
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Definition
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Term
| cash payments or an extra amount of "free goods" awarded sellers in the marketing channel for undertaking certain advertising or selling activities to promote a product |
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Definition
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Term
| the free on board price the seller quotes that includes only the cost of loading the product onto the vehicle and specifies the name of the location where the loading is to occur |
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Definition
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Term
| the price the seller quotes that includes al transportation costs |
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Definition
| uniformed delivered pricing |
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Term
| involves selecting one or more geographical locations from which the list price for products plus frieght expenses are charged to the buyer |
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Definition
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Term
| a conspiracy among firms to get prices for a product |
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Definition
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Term
| the practice of charging different prices to differed buyers for goods of like grade and quality |
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Definition
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Term
| practice of charging a very low price for a product with the intent of driving competitors out of business |
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Definition
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Term
| consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users |
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Definition
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Term
| performs a variety of marketing channel functions, including selling, stocking, delivering a full product assortment, and financing |
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Definition
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Term
| employ the internet to make goods and srvices available for consumption or use by consumers or business buyers |
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Definition
| electronic marketing channels |
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Term
| allows consumers to buy products by interacting with various advertising media without a face-to face meeting with a salesperson |
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Definition
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Term
| is the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online |
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Definition
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Term
| an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product |
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Definition
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Term
| one firms marketing channel is used to sell another firms products |
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Definition
| strategic channel alliances |
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Term
| independently owned firms that take title to the merchandise they handle |
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Definition
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Term
| work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory |
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Definition
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Term
| represents a single producer and are responsible for the entire marketing function of that producer |
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Definition
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Term
| are independent firms or individuals whose principal function is to bring buyers and sellers together to make sales |
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Definition
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Term
| professional managed and centrally coordinated marketing channels designed to achieve channel economies and maximuum marketing impact |
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Definition
| vertical marketing systems |
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Term
| contractual agreement between a parent company and an individual firm that allows the franchisee to operate a certain type of business under an established name and according to specific rules |
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Definition
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Term
| consists or agreements and procedures among channel members for ordering and physically distributing a producers products through the channel to the ultimate consumer |
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Definition
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Term
| means that a firm tries to place its products and services in as many outlets as possible |
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Definition
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Term
| a level of distribution density whereby only one retailer in a specific geographical area carries the firms products |
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Definition
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Term
| a level of distribution density whereby a firm selects a few retailers in a specific geographical area to carry its products |
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Definition
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Term
| arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals |
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Definition
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Term
| channel conflict that arises when a channel member bypasses another member and sells or buys products direct |
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Definition
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Term
| channel member that coordinates, directs, and supports other channel members |
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Definition
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Term
| involves those activities that focus on getting the right amount of the right products to the right place at the right time. |
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Definition
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Term
| practice of organizing the cost-effective flow of raw materials, in process inventory, finished goods, and related information from point of orgin to the point of consumption to satisfy the customer requirements |
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Definition
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Term
| sequence of firms that perform activities required to create and deliver a product or service to ultimate consumers or industrial users |
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Definition
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Term
| integration and organization of information and logistics activities across firms in a supply chain for the purpose of creating and delivering products and services that provide value to ultimate consumers |
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Definition
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Term
| combines propreitary computer and telecommunication technologies to exchange electronic invoices, payments, and information among suppliers, manufactures,and retailers |
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Definition
| electronic data interchange ( EDI) |
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Term
| includes expenses associated with transportation, materials handling and warehousing, inventory, stockout, order processing, and return goods handling |
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Definition
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Term
| ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience |
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Definition
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Term
| the lag from ordering an item until it is received and ready for use or sale |
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Definition
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Term
| inventory management systems that are designed to reduce a retailers lead time for recieving merchandise, which then lowers a retailers inventory investment, improves customer service levels, and reduces logistics expense |
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Definition
| quick response/ efficient consumer response |
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Term
| firms that perform most or all of the logistics functions that manufacturers, suppliers, and distributors would normally perform themselves. |
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Definition
| third-party logistics providers |
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Term
| investment supply system that operates with very low inventories and requires fast, on time delivery |
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Definition
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Term
| inventory management system whereby the supplier determines the product amount and assortment a customer needs and automatically delivers the appropriate items |
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Definition
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Term
| process of reclaiming recyclable and resuable materials, returns, redistribution, or disposal. |
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Definition
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