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Marketing Test 3
Marketing 300
44
Marketing
Undergraduate 3
11/13/2007

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Term
Convenience
Definition
products a consumer needs but isn't willing to spend much time looking for
Term
staple goods
Definition
products bought often and routinely, such as daily packaged foods
Term
homogeneous shopping goods 
Definition
pdoducts customers see as the same and purchases by lowest price
Term
impulse
Definition
bought quickly and unplanned
Term
emergency
Definition
purchased immediately after the need is great and price isn't important
Term
heterogeneous shopping goods 
Definition
seen as different and inspects for quality and suitability such as furniture and clothing
Term
derived demand
Definition
demand for business products deriving from demand for final consumer products
Term
expense items
Definition
product whose total cost is treated as a business expense in the year it's purchased
Term
capital items
Definition
long-;asting product used and depriciated for many years, often very expensive
Term
installations
Definition
buildings, land rights, major equipment..important capital items that are one of a kind installations
Term
accessories
Definition
short-lived capital items...tools/equipment used in production or office such as copy machines and filing cabinets
Term
brand rejection
Definition
potential customers won't buy a brand unless it's changed..difficult and expensive to change
Term
brand nonrecognition
Definition
final consumers don't recognize brand at all...such as school supplies and cheap dinnerware
Term
brand recognition
Definition
customers remember the brand and choose it over brands they don't know
Term
brand preference
Definition
target customers usually choose the brand over others, usually due to habit or experience
Term
brand insistence
Definition
insist on firm's branded product and will search for it..the primary objective for marketers
Term
dealer brands (private brands)
Definition
created by middlemen...Kroger and Radio Shack brands
Term
family brands
Definition
brand name for several products...Keebler and Kenmore
Term
battle of the brands
Definition
dealer vs manufacturer
Term
product life cycle
Definition
introduction, growth, maturity, decline
Term
fashions
Definition
currently accepted or popular style w/ short life cycles
Term
fads
Definition
idea that is fashionable only to certain groups who are enthusiastic about it
Term
new product failures
Definition
customers or middlemen may not be satisfied w/ the marketing mix, or other new products may meet the same need better
Term
new product development process
Definition
idea generation, screening, idea evaluation, development, and commercialization
Term
place
Definition
making goods and services available in the right quantities and locations when customers want them
Term
direct channel
Definition
channel of distribution..any series of firms or individuals who participate in the flow of products from producer to final user or consumer
Term
discrepancies of quantity
Definition
the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want
Term
discrepancies of assortment
Definition
difference between the lines a typical producer makes and the assortment final consumers or users want
Term
traditional channels of distribution
Definition
various channel members make little or no effort to cooperate w/ each other
Term
vertical channels
Definition
firms at different levels in the channel of distribution
Term
horizontal channels
Definition
firms at the same level of distribution
Term
marketing-oriented approach to physical distribution
Definition
all transporting, storing, and product handling activities of a business and a whole channel system should be coordinated as 1 system that seeks to minimize the cost of distribution for a given customer service level
Term
transportation function
Definition
market function of moving goods...makes products available when and where they need to be, at a cost
Term
alternative transportation modes
Definition
trucks, boat, inland waterways, pipelines, and air..piggybacking and fishybacking
Term
freight-forwarders
Definition
combine small shipments of many shippers into more economical shipping quantities..accumulate small shipments from many shippers and reship in larger quantities to obtain lower transporting rates
Term
private warehouses
Definition
storage facilities owned or leased by companies for own lease
Term
public warehouses
Definition
independent storing facilities
Term
distribution centers
Definition
special kind of warehouse designed to speed the flow of goods and avoid unnecessary strong costs
Term
retailing
Definition
covers all activities involved in the sale of products to final consumers
Term
conventional retailers
Definition
general stores carrying anything they could sell in reasonable volume
Term
single and limited line retailers
Definition
stores that specialize in certain lines of related products rather than a wide assortment
Term
mass merchandising concept
Definition
retailers should offer low prices to get faster turnover and greater sales volumes by appealing to larger markets
Term
scrambled merchandising
Definition
carrying any product lines they think they can sell profitably..supermarkets and drugstores
Term
rack jobbers
Definition
specialize in hard to handle assortments of proucts that a retailer doesn't want to manage
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