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Definition
| anything that can be offered to a market for attention, acquisition, use, or consumption that may satisfy a want or need |
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| an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything |
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| core customer value, actual product, augmented product |
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| brand name, quality level, packaging, design, features |
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| delivery and credit, product support, warranty, after-sale service |
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| Two classes of products/services |
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| consumer products and industrial products |
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| product bought by final consumers for personal consumption |
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| a consumer product that customers usually buy frequently, immediately, and with a minimum comparison and buying effort (magazines, laundry detergent, toothbrush) |
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| a consumer product that the customer, in the process of selection and purchase, usually compares on such bases as suitability, quality, price and style (televisions, furniture, clothing) |
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| a consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort (luxury goods such as nice watches) |
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| a consumer product that the consumer either does not know about or knows about but does not normally think of buying (funeral services, blood donation, life insurance) |
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| a product bought by individuals and organizations for further processing or for use in conducting a business |
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| industrial product that includes raw materials and manufactured materials and parts |
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| industrial product that aid in the buyer's production or operations |
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| supplies and services (industrial) |
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Definition
| purchased with minimum shopping effort, usually operating supplies such as coal, pencils, and maintenance items like paint, nails |
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| activities undertaken to create, maintain or change the attitudes and behavior of target customers toward an organization |
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| activities undertaken to create, maintain or change the attitudes and behavior toward particular people (ex: Tiger and brands) |
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| ex: trump, rachael ray, oprah |
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| activities undertaken to create, maintain, or chance attitudes or action toward certain places. (california ads) |
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| the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society (reduce smoking campaign) |
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| the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs |
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| an approach in which all the company's people are involved in constantly improving the quality of products, services and business processes |
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| a way to add customer value, style describes appearance, design contributes to all aspects |
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| a name, term, sign, symbol, design or a combination of these that identifies the products or services of one of the sellers and differentiates them from those of competitors |
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| the activities of designing and producing the container or wrapper for a product |
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| simple tags to complex graphics that are attached to a product to identify the product or brand |
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| to keep customers happy after the sale (ex: bmw free service/car wash) |
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| a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges |
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| adding more items within the present range of the line |
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| when a company lengthens its product line beyond its current range |
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| product mix (product portfolio) |
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| set of all product lines and items that a particular seller offers for sale |
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| total number of items a company carries within its product lines |
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| refers to the number of versions offered of each product in the line |
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| services cannot be seen, tasted, felt, heard, or smelled before they are purchased |
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| services are produced and consumed at the same time and cannot be separated from their providers |
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| service quality may vary greatly, depending on who provides them, when, where, and how |
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| services cannot be stored for later sale or use |
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| the chain that links service firm profits with employee and customer satisfaction |
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| five links of service-profit chain |
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| internal service quality -> satisfied and productive service employees -> greater service value -> satisfied and loyal customers -> healthy service profits and growth |
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| orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction |
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| training service employees in the fine art of interacting with customers to satisfy their needs |
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| service marketing tasks for firms |
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| increase service differentiation, service quality, and service productivity |
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| the differential effect that knowing the brand name has on customer response to the product or its marketing |
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| brand positioning decisions |
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Definition
| attributes, benefits, beliefs and values |
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| manufacturer's brand, private brand, licensing, co-branding |
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| line extensions, brand extensions, multibrands, new brands |
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| store brand (private brand) |
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Definition
| a brand created and owned by a reseller of a product or service (ex: kirkland signature) |
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| desirable brand name qualities |
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Definition
| 1) should suggest something about the benefits and qualities 2)easy to pronounce, recognize, remember 3)distinctive 4)should be extend-able into other product categories 5)translate easily into foreign languages |
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| ex: licensing loony tunes logo to be put on lunchbox |
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| the use of using the established brand names of two different companies on the same product ex: nike+ipod |
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| extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category ex: new cheerio flavor |
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| extending an existing brand name to a new product category ex: thin mint cookie blizzard, or mr. clean car washes |
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| selling a new brand name in an existing product category ex: P&G sells 6 brands of laundry detergent in the US |
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| making a new brand name when entering a new product category ex: toyota made scion |
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