Term
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Definition
| Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. p 226 |
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Term
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| p 226 Essentially intangible activity, benefit, or satisfaction for sale, which does not result in the ownership of anything. p 226 |
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| bought by final consumers for personal consumption p 228 |
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Term
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| Consumer product that customers usually buy frequently, immediately, & w/ minimal comparison & buying effort. p 229 |
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Term
| convenience product example |
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Definition
| book: laundry detergent, candy, magazines. Usu priced low; placed many places so they are avail when consumers ready to buy |
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Term
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Definition
| Consumer product that customer (while selecting & purchasing,) usu. compares attributes as suitability, quality, price, & style. p 229 |
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Definition
| book: furniture, used cars, hotel & airline srvc. Marketers usu. place less frequently, provide deeper sales support. p 229 |
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Term
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Definition
| Consumer product w/ unique characteristics or brand identification for which signify. group of buyers is willing to make a special purchase effort. p 229 |
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Term
| specialty product example |
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Definition
| book: certain car brands, gourmet food, designer clothes, medical or legal srvcs. p 229 |
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Term
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Definition
| consumer either does not know about, or knows about but does not normally consider buying. p 229 |
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Definition
book: life insurance, preplanned funeral services, blood donations p 229
me: other insurance, such as disability, renter's |
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Term
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Definition
| bought by indiv. & orgs for further processing or for use in conducting a business. p 229 |
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Term
| industrial product example |
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Definition
| book: lawn mower for home is consumer product, lawn mower for landscaping biz is industrial product p 299 |
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Term
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Definition
| use of commercial marketing concepts & tools in programs designed to influence individuals’ behavior to improve their well-being and that of society. p 231 |
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Term
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Definition
book: Ad Council of Amer. campaigns re health care, educ., human rights. However, not limited to promotion p 231
me: The More You Know; Amnesty International |
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Term
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Definition
| Characteristics of prod/ srvc that affect its ability to satisfy stated or implied customer needs. p 231 |
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Term
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Definition
| marketers go beyond "free of defects" to create value; Siemens defines quality: “Quality is when our customers come back and our products don’t.” p 231 |
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Term
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Definition
| name, term, sign, symbol, or design, or combination of these, that identifies & differentiates products or services of seller(s) from competitors. p 233 |
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Term
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Definition
| Coca-Cola's curved bottle, red color, cursive font evoke American icon, Santa Claus & polar bears p 233 |
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Term
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Definition
| activities of designing & producing container or wrapper for product. p 233 |
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Term
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Definition
| not everyone notices our brand, but everyone interacts with package p 233 |
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Term
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Definition
| group of products closely related because they function in similar manner, are sold to same customer groups, marketed through the same types of outlets, fall within given price ranges. p 236 |
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Term
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Definition
| book: Nike produces product lines of clothing; Marriott produces lines of hotels p 236 |
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Term
| product mix aka product portfolio |
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Definition
| set of all product lines that particular seller offers p 236 |
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Term
| product mix/ portfolio example |
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Definition
| Campbell's 3 product lines: healthy begs, bakes snacks, simple meals; sublines of simple meals are soups, sauces, pastas p 236 |
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Term
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Definition
| Services cannot be seen, tasted, felt, heard, or smelled before they are bought. p 238 |
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Term
| service intangibility example |
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Definition
| airline passengers buy ticket to transport them and their luggage p 238 [they don't buy a piece of plane - me] |
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Term
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Definition
| services produced & consumed at same time, can't be separated from providers, whether people or machines p 238 |
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Term
| service inseparability example |
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Definition
| book: employee who provides srvc is part of it p 238 [me: vending machine is part of Coke sales] |
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Term
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Definition
| srvc quality depends greatly on who, when, where, how they are provided p 238 |
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Term
| service variability example |
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Definition
| book: hotel may have rep for friendlier srvc than others, and employee checking in may be friendly, but nearby grumpy employee is variable that impacts quality p 238 me: a Quarter Pounder is not popular in India |
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Term
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Definition
| services can't be stored for later sale or use p 239 |
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Term
| service perishability example |
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Definition
| if cruise package is not sold, the chance to sell it is gone |
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Term
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Definition
| links service profits with employee and customer satisfaction p 239 |
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Term
| service profit chain example |
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Definition
| me: If employees at my local Whole Foods seem oppressed and are unfriendly, I don't want to shop there. Instead, I will go to my local Trader Joe's where the employees seem happier and are nicer |
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Term
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Definition
| Orienting & motivating customer-contact employees & supporting service employees to work as team to provide customer satisfaction. p 241 |
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Term
| internal marketing example |
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Definition
| book: Zappos starts by hiring the right people and carefully orienting and inspiring them to give unparalleled customer service. p 241 me: team building exercises give employees chance to bond, which increases empathy and then helping each other |
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Term
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Definition
| Training service employees in fine art of interacting w/ customers to satisfy their needs. p 241 |
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Term
| Interactive marketing example |
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Definition
| book: Zappos only hires people w/ "innate passion to serve" p 241 me: Training employees to have a conversation that hits all the marks, not follow a script |
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Term
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Definition
| differential effect that knowing brand name has on customer response to product or its marketing. p 244 |
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Term
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Definition
| deep connection to with customer, whether pos. or neg., e.g. iconic Disney or newer, exciting YouTube p 244 me: BP has negative brand equity |
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Term
| Store brand aka private brand |
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Definition
| brand created & owned by a reseller of product or srvc. p 248 |
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Term
| store/ private brand example |
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Definition
| me: consumers know that Trader Joe's brand Island Teriyaki Sauce is really a second label produced by private label Soy Vay |
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Term
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Definition
| practice of using the established brand names of two different companies on the same product. p 250 |
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Term
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Definition
| book: KC Masterpice & Lay's p 250 me: Tapatio & Doritos |
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Term
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Definition
| Extending existing brand name to new forms, colors, sizes, ingredients, or flavors of existing product category. p 250 |
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Term
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Definition
| book: Cheerios Honeynut, BananaNut, Multigrain p 250 me: Oreos double-stuffed, vanilla, original |
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Term
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Definition
| Extending an existing brand name to new product categories. p 251 |
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Term
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Definition
| book: Special K has extended from cereal to granola bars & protein drinks me: Apple went from Macs to iPhones, iPods, etc. |
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