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Definition
| the desire for a product class rather than for a specific brand |
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Definition
| Creating a preference for a specific brand |
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Definition
| Introduction stage, Growth stage, Maturity stage, Decline stage |
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Definition
| Product and Market modification |
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| Finding new users, increasing user frequency, creating new uses, repositioning |
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Definition
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Term
| Objectives in Introduction stage |
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Definition
| Create awareness, stimulate trial |
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Term
| Objectives in Growth stage |
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Definition
| Break even w/ profits(peaked profits), selective demand, try to create brand loyalty, widen distribution |
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| Objectives in Maturity stage |
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Definition
| sales peak(decline profits) |
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| Objectives in Decline stage |
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Definition
| Lose distribution as sales decline, delete or harvest product, milk profitability. |
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Definition
| any word, design, sound, shape or color, or combination of these used to identify a product. |
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| added value a brand name gives to a product beyond the funtional benefits provided. |
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Definition
Multi-Product Branding
Multi-Branding
Private Branding
Mixed Branding |
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| ...uses one name for all its products in a product class |
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Definition
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| ...involves giving each product a company sells a distinct name |
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Definition
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| ...when a company sells its products under another company's name |
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Definition
| Private Branding/ Private Labeling |
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| ...where a company both markets products under its own name and also that of a reseller. |
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Definition
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Definition
| referst to any container in which a product is offered for sale AND on which label info is conveyed |
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Definition
the brand
who made it
where and when it was made
use and care instructions
ingredients |
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Definition
| A statement indicating the liability the marketer accepts for deficiencies in the product |
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| ...specifically states the bounds of coverage |
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Definition
| Limited-coverage Warranty |
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Definition
| Intagibility, Inconsistency, Inseperability, Inventory |
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Term
| Services are performance rather than an object |
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Definition
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Term
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Definition
Variability in the quality of the service due to:
-Variability in the people who deliver the service
-Variability in what can be offered to customers |
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Term
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Definition
| Services have the difficulty of separating the service itself from the deliverer of the service |
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| The cost of maintaining the ability to deliver a service |
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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
| ex. Empty seats on an already airborn plane. |
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Definition
| Payment to person delivering service (employees), equipment used in the process. |
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Term
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Definition
-Experience Properties (judged after consumption)
-Credence Properties (Insurance...may buy it but never consume it) |
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Definition
| the process by which a person selects organizes and interprets information to create a meaningful picture of the world. |
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Term
| 5-step Purchasing Process |
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Definition
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Term
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Definition
Awareness
The awareness of objects or other data through the medium of the senses. |
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Term
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Definition
the type of analysis that identifies the differences between a consumer's expectations and experiences of a service based on dimensions like:
-reliability
-responsiveness
-empathy
-employee knowledge |
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Definition
| Product, Place, Price, Promotion |
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Definition
-core service
-supplementary service |
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Definition
-Variety of places
-Inventory management, capacity mgmt, inseparability |
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Term
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Definition
Task services
hourly services
Demand-based services, off peak pricing |
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Term
| The money or other consideration exchange for the ownership or use of a product |
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Definition
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Term
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Definition
| Statement or an accomplishment or task to be achieved |
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Definition
| Specific, Measurable, Attainable, Relevant, Time based |
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Definition
| Situation, Normal, All, Fouled, Up |
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Term
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Definition
specifying the role of price in an organization's marketing plan:
Profit-LongRun profits/Target Return
Market Share
Survival
Quality |
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Term
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Definition
Consumer Demand
Cost
Competition
-New products
-older products
-Extent of the product line
-Type of Market
Pure competition
Monopolistic Comp
Oligopoly
Monopoly |
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Term
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Definition
a graph relating the quantity sold and price
-As price falls/goes down, more people will decide to buy and unit sales will go up. |
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Term
...those considerations that determine consumer's willingness and ability to pay for products
4 Factors:
-Price
-Consumer Tasts
-Price and Availability of similar products
-Consumer income |
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Definition
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Term
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Definition
Total money received from the sale of a product
TR= P*Q
TR-total revenue
P-unit price of product
Q-quantity of product sold |
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Term
| Price Elasticity of Demand |
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Definition
Provides a measure of the sensitivity of demand to changes in price
-Elastic Demand
-Inelastic Demand
-Unitary Demand |
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Term
If demand is ...a change in price causes an opposit change in revenue.
e.g. at a higher price, enough people will stop buying the product so sales actually decrease |
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Definition
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Term
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Definition
If demand is inelastic, and increse in price will result in an increase in total revenue
-if your product has inelastic demand, it is to your benefit to raise prices.
-3Ins tric
INelastic goes with an INcrease in price and an INcrease in revenue |
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Term
the point at which the cost of producing a product equals the revenue taken in from selling the product.
= FC/Unit Price-UVC
FC-fixed cost
UVC-unit variable cost |
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Definition
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Term
the point at which the cost of producing a product equals the revenue taken in from selling the product.
= FC/Unit Price-UVC
FC-fixed cost
UVC-unit variable cost |
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Definition
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Term
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Definition
| The adding of a percentage to the cost of an item to arrive at the selling price. |
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Term
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Definition
| Price= List Price - Incentives - Allowances + Extra fees |
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Definition
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| The total expense incurred in producing and marketing a product |
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Term
| The sum of the expenses of the firm that are stable and do not change with quantity produced and sold. |
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Definition
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Term
| The sum of the expenses of the firm that vary directly with the quantity of product produced and sold |
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Definition
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Term
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| variable cost as expressed on a per unit basis |
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Definition
| Provides goods and services to ultimate customers for personal, family or household use by selling or renting products. |
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Term
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Definition
"middlement" between producers and consumers.
..middlement move the product from the producer toward the consumer |
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Term
| 3 Functions of Mktg intermediaries |
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Definition
1. Transactional-buying/selling
2. Logistical- making it available and convenient
3. Facilitating- making it easy to get the product; finance options |
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Term
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Definition
1. Time
2. Place
3. Possession
4. Form
Utility- the addition of value |
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Definition
| Allows customers to buy products by interacting with various advertising media without a face-to-face meeting witha sales person. ex. Mail order selling, Amazon.com, televised home shopping... |
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Term
| Advantages of Direct Channel |
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Definition
-Control of Pricee
-Firsthand feedback |
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Term
| Disadvantages of Direct Channel |
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Definition
-More employees
-More promo costs
-Providing credit |
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Term
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Definition
| the blending of different communitcaiton and delivery channels that are mutually reinforcing in attracting, retaining and building customer relationships with shoppers who buy in-store and on-line. |
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Term
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Definition
Which channel and intermediaries will:
1. Provide the best coverage of the target market?
2. Satisfy te buying requirements of the target market?
3. Be the most profitable? |
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Term
| 3 Degrees of Distribution Density |
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Definition
1. Intensive- Convenience Items
2. Selective- Shopping Items
3. Exclusive- Specialty Items |
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Term
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Definition
-convenience
-information
-variety
-pre and post sale services |
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Term
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Definition
Vertical Conflicts-
producer to producer
Horizontal Conflicts- |
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Term
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Definition
1. Exclusive Dealing
2. Dual Distribution
3. Resale restrictions
4. Tying Arrangements |
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