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| A marketing strategy with which companies attempt to make their products appear unique relative to the competition |
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| The mass production, mass distribution, and mass promotion of a product to all buyers. |
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| Focusing an organization's marketing mix strategy on one or only a few of many possible segments. |
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| Marketing to each of several segments with a marketing mix strategy matched specifically to its desired expectations. |
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| A very small market segment that most companies ignore because they fail to see any opportunity. |
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| Undifferentiated Marketing |
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| A strategy that views potential customers as though they were the same. |
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| Strategy based on delivering customer value in a way that clearly distinguishes the product from competitors ; works through effectiveness. |
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| Strategy whose objective is to be the low-cost leader, thereby allowing the company to have higher margins then competitors and pass some savings on to customers through lower prices. |
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| Creating an image of perception in the minds of consumers about the organization or its products relative to the competition. |
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| A diagram of how consumers in a segment perceive brands based on specific elements they consider important. |
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| The characteristics consumers associate with a brand based on important attributes. |
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| A relatively inexpensive item that consumers purchase frequently and with minimum effort |
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| A product purchased due to an unexpected event and for which the consumer has an urgent need. |
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A purchase generally made only after the consumer has compared several alternatives.
Homogeneous- searching for the best price
Heterogeneous- searching for the best quality |
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| a product with a unique characteristic that provides unusual value to the purchaser. |
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| An item that consumers don't think about frequently and for which they don't perceive much need. |
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Production Parts- raw and processed materials
Capital Products- installation equipment
Supplies
Component Parts- operation products and services |
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| The steps and individual consumer goes through in making a product choice. |
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| The spread of innovations from one group of consumers to another over time. |
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| The first group of consumers to purchase a new product. |
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| Final stage in the new-product development process, when the product is introduced into the market. |
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The four stages a product goes through:
Introduction
growth
maturity
decline |
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| All the organizations from which components, semi-finished products, and services are purchased. |
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| A set of interdependent organizations involved in making a product available for purchase. |
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| A distribution channel in which the producer uses it's own employees and physical assets to distribute the product directly to the end user. |
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| A distribution channel in which the producer makes use of independent organizations to distribute the product to end users. |
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| A distribution that flows from the end user to the wholesaler and producer. |
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| Incorporation of all activities concerned with planning, implementation and control of sourcing, manufacturing, and delivery of products and services. |
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| The movement of raw materials, components, and finished products within and between companies. |
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