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Define + Lists
Chapter 8
30
Marketing
Undergraduate 4
11/03/2007

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Term
product
Definition
anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
Term
service
Definition
any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything
Term
See Fig. 8.1 Pg. 234 "Three Levels of Product"
Definition
core benefit, actual product, augmented product
Term
consumer product
Definition
product bought by final consumer for personal consumption
Term
convenience product
Definition
consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort
Term
shopping product
Definition
consumer good that the customer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style
Term
specialty product
Definition
consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort
Term
unsought product
Definition
consumer product that the consumer either does not know about or knows about but does not normally think of buying
Term
industrial product
Definition
product bought by individuals and organizations for further processing or for use in conducting a business
Term
social marketing
Definition
the design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group
Term
product quality
Definition
the ability of a product to perform its functions; it includes the product's overall durability, reliability, precision, ease of operation and repair, and other valued attributes
Term
See Fig. 8.2 Pg. 239 "Individual Product and Service Decisions"
Definition
Product attributes >>> branding >>> packaging >>> labeling >>> product support servicies
Term
brand
Definition
a name, term, sign, symbol, or design, or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors
Term
packaging
Definition
the activities of designing and producing the container or wrapper for a product
Term
product line
Definition
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
Term
product mix (or product assortment)
Definition
the set of all product lines and items that a particular seller offers for sale
Term
brand equity
Definition
the positive differential effect that knowing the brand name has on customer response to the product or service
Term
See Fig. 8.3 Pg. 250 "Major Brand Strategy Decisions"
Definition
Positioning, Selection, Sponsorship, Development
Term
private brand (aka store brand)
Definition
a brand created and owned by a reseller of a product or service (i.e. Costco's "Kirkland")
Term
co-branding
Definition
the practice of using the established brand names of two different companies on the same product
Term
line extension
Definition
using a successful brand name to introduce additional items in a given product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes
Term
brand extension
Definition
using a successful brand name to launch a new or modified product in a new category
Term
service intangibility
Definition
a major characteristic of services-they cannot be seen, tasted, felt, heard, or smelled before they are bought
Term
See Fig. 8.5 Pg. 258 "Four Service Characteristics" - mentioned in class!
Definition
intangibility, inseparability, variability, perishability
Term
service inseparability
Definition
a major characteristic of services-they are produced and consumed at the same time and cannot be separated from their providers
Term
service variability
Definition
a major characteristic of services-their quality may vary greatly, depending on who provides them and when, where and how
Term
service perishability
Definition
a major characteristic of services-they cannot be stored for later sale or use
Term
service-profit chain
Definition
the chain that links service firm profits with employee and customer satisfaction
Term
internal marketing
Definition
marketing by a service firm to train and effectively motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction
Term
interactive marketing
Definition
marketing by a service firm that recognizes that perceived service quality depends heavily on the quality of the buyer-seller interaction
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