Term
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Definition
| organizations that buy goods that are used in the business. |
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Term
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Definition
| determine details and use of other services that are the best fit for the product/service. |
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Term
| Market Structure and Demand |
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Definition
-fewer and larger buyers
-geographic concentration
-derived demand
-buyer/seller dependency |
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Definition
| more decision participants, more purchasing effort. |
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Definition
| finding appropriate networks and dependable supply of products that will be used in making their own product. |
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Definition
| routine purchase/reorder with no modifications. |
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Definition
| purchase decision that required research and modifications. |
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Definition
| thorough research for a new product. |
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Term
| 2 Step Process of Selling |
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Definition
| interlocking products, system of production |
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Term
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Definition
| everything that participates in the business. |
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Definition
| people who will use the product/service |
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Definition
| define specifications and info for evaluating. |
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Definition
| Formal authority selecting the supplier/arrange purchases. |
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Definition
| formal and informal POWER to select and approve FINAL suppliers. |
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Definition
| control the flow of information. |
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Term
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Definition
| need for new product or production equipment. |
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Term
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Definition
| idea from advertising or trades how. |
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Term
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Definition
| describes the technical criteria. |
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Term
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Definition
| approach to cost reduction where products are redesigned. |
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Term
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Definition
| compiling a list of qualified suppliers. |
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Term
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Definition
| requests proposals from qualified suppliers. |
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Term
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Definition
| creates a list of desired suppliers and negotiates w. favorable terms and conditions. |
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Term
| Order-Routing Specifications |
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Definition
| the final order with the chosen supplier and lists of all the specifications . |
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Term
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Definition
| involves a critique of supplier performance to the purchase of terms. |
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Term
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Definition
| hospitals, nursing homes and prisons, that provide goods and services. |
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Term
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Definition
| Divide large markets into smaller ones, that match the unique needs of individuals. |
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Term
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Definition
separated into geographical units.
ex-nations, cities, regions, states, counties |
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Term
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Definition
divides into groups with certain variables.
ex- age, race, religion, gender |
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Term
| Age and Life-Cycle Segmentation |
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Definition
| Process of offering different products or using different marketing approach. |
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Definition
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Term
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Definition
| divides market into high-income, or low-income |
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Term
| Psychographic Segmentation |
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Definition
| divides into groups based on social class, lifestyle, or personality traits. |
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Term
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Definition
| divides based on knowledge, attitudes, uses or responses to a product. |
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Term
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Definition
Used to identify smaller, better defined target groups
-more concentrated |
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Term
| Geodemographic Segmentation |
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Definition
| multivariable segmentation, divides into consumer lifestyle patterns. |
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Term
| Inter-market Segmentation |
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Definition
| Divides consumers in groups based on similar needs and buying behaviors- can be located in different countries. |
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Term
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Definition
| buyers who share common needs or characteristics. |
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Term
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Definition
targets the whole market with one offer.
-focused on common needs |
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Term
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Definition
| targets several different market segments and design separate offers for each. |
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Term
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Definition
small share of a large market
-limited company resources
-knowledge of the market
-more effective and efficient |
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Term
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Definition
| practice of tailoring products to suit specific individuals and locations. |
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Term
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Definition
tailoring brands and promotions to the needs and wants of local customer groups
ex-cities, neighborhoods, stores |
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Term
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Definition
| Tailoring products to the needs and preferences of individual customers. (one-on-one) |
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Term
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Definition
| how a product is defined by customers/ their feelings. |
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Term
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Definition
| perception of brand vs. competitors |
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Term
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Definition
| full mix of beneifits for the brand |
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Term
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Definition
| offered in a market that satisfies a need or want. |
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Term
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Definition
| what will it do for the customer? |
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Definition
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Definition
frequently bought, without thinking
ex-newspapers, candy, fastfood |
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Definition
customer compares carefully, quality, price, style
ex- furniture, cars, appliances |
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Definition
Unique characteristics or brand identification where a special purchase effort is made
ex- designer clothes, high-end electronics |
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Definition
products that you dont think of buying
ex- funeral arrangements, life insurance |
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Term
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Definition
purchased for further use in conducing a business
ex-materials and parts, capital, raw materials. |
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Term
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Definition
| aid in buyers production or operations. |
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Term
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Definition
| Include raw materials, manufactured materials |
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Term
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Definition
| repair and maintenance services. |
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Term
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Definition
| change attitudes towards a certain organization |
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Term
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Definition
attitudes towards a certain person
ex-ellen, rachel ray |
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Definition
Change attitudes towards a certain place.
ex- Vegas, Disneyland |
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Term
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Definition
influence behavior to improve a society
ex-truth |
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Term
| Product and Service Decisions |
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Definition
| 1.product attributes 2.branding 3.packaging 4.labeling 5.product support services |
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Term
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Definition
| benefits of product, quality, features, style/design |
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Term
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Definition
| level that supports the products positioning |
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Term
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Definition
| free from flaws, performance consistency |
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Term
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Definition
| competitive tool for differentiating a product fro the competitors. value vs. cost. |
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Definition
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Definition
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Definition
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Term
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Definition
| The differential effect that the Brand name has on a customer's response |
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Term
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Definition
| designing and producing the outside of a product |
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Term
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Definition
| identify product/brand, promotion |
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Term
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Definition
| products that are closely related/function and same price range. |
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Term
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Definition
| number of items in a product line |
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Term
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Definition
| all the offers, width, length, depth. |
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Term
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Definition
| cant be seen, tasted, or smelled before purchasing |
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Term
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Definition
| quality of services. who, what, when,where, and how. |
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Term
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Definition
| can not be separated for its providers. |
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Term
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Definition
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Term
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Definition
| service must orient and motivate customer contact with employees. |
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Term
| Managing Service Differentiations |
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Definition
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Definition
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Definition
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Definition
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Term
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Definition
| advantage by higher quality by its empires |
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| Managing Service Productivity |
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Definition
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Term
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Definition
| buying a whole company patent, or license to produce someone's idea. |
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Term
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Definition
| original, improvement, improvements, modifications, new brand |
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Definition
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Definition
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Term
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Definition
| companies research and development inside the company. |
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Term
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Definition
| outside the company, customers, competitors, suppliers, design firms. |
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Term
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Definition
| keep good ideas- drop poor. |
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Term
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Definition
| Detailed Idea, consumer meaning |
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Term
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Definition
| how consumers perceive it |
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Term
| Marketing Strategy Development |
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Definition
| strategy for introducing the product to the market. |
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Term
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Definition
| review of sales, cost, and profit to find companies objective |
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Term
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Definition
| marketing and program introduced to realistic settings |
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Term
| Successful New Product Development |
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Definition
| customer centered, team centered |
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Term
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Definition
| solving customer problems and satisfying experiences. |
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Term
| Sequential New Product Development |
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Definition
| collects, reviews, evaluates product ideas |
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Term
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Definition
| Temporary periods of high sales, popular |
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Term
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Definition
| slows sales growth, no profit, focused on promotion (getting the word out) |
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Term
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Definition
| Increase sales, new competitors, increase profits, consumer educated. |
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Term
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Definition
| slow down sales, many suppliers |
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Term
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Definition
| Maintain the product, harvest, drop (loose money) |
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Term
| Product Decisions and Social Responsibility |
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Definition
| regulations and development, dropping products, patents, safety, quality. |
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Term
| International Product Challenges |
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Definition
| standardizations vs customization, what products to produce in what countries. |
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