Marketing Chapter 9

Total Flash Cards » 52
Text Size » S M L     
 
1. 
Good
 
A tangible physical entity
 
2. 
Service
 
An intangible result of the application of human and mechanical efforts to people or objects
 
3. 
Idea
 
A concept, philosophy, image, or issue
 
4. 
Consumer products
 
Products purchased to satisfy personal and family needs
 
5. 
Business products
 
Products bought to use in an organization's operations, to resell, or to make other products
 
6. 
Convenience products
 
Relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort
 
7. 
Shopping products
 
Items for which buyers are willing to expend considerable effort in planning and making purchases
 
8. 
Specialty products
 
Items with unique characteristics that buyers are willing to expend considerable effort to obtain
 
9. 
Unsought products
 
Products purchased to solve a sudden problem, products of which consumers are unaware, and products that people do not necessarily think about buying
 
10. 
Installations
 
Facilities and nonportable major equipment
 
11. 
Accessory equipment
 
Equipment that does not become part of the final physical product but is used in production or office activities
 
12. 
Raw materials
 
Basic natural materials that become part of a physical product
 
13. 
Component parts
 
Items that become part of the physical product and are either finished items ready for assembly or products that need little processing before assembly
 
14. 
Process materials
 
Materials that are used directly in the production of other products but are not readily identifiable
 
15. 
MRO supplies
 
Maintenance, repair, and operating items that facilitate production and operations but do not become part of the finished product
 
16. 
Business services
 
The intangible products that many organizations use in their operations
 
17. 
Product item
 
A specific version of a product that can be designated as a distinct offering among a firm's products
 
18. 
Product line
 
A group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations
 
19. 
Product mix
 
The total group of products that an organization makes available to customers
 
20. 
Width of product mix
 
The number of product lines a company offers
 
21. 
Depth of product mix
 
The average number of different product items offered in each product line
 
22. 
Product life cycle
 
The progression of a product through four stages:
1) introduction
2) growth
3) maturity
4) decline
 
23. 
Introduction stage
 
The initial stage of a product's life cycle- its first appearance in the marketplace- when sales start at zero and profits are negative
 
24. 
Growth stage
 
The stage of a product's life cycle when sales rise rapidly and profits reach a peak and then start to decline
 
25. 
Maturity stage
 
The stage of a product's life cycle when the sales curve peaks and starts to decline as profits continue to fall
 
26. 
Decline stage
 
The stage of a product's life cycle when sales fall rapidly
 
27. 
Product adoption process
 
The stages buyers go through in accepting a product
 
28. 
Innovators
 
First adopters of new products
 
29. 
Early adopters
 
Careful choosers of new products
 
30. 
Early majority
 
Those adopting new products just before the average pers
 
31. 
Late majority
 
Skeptics who adopt new products when they feel it is necessary
 
32. 
Laggards
 
The last adopters, who distrust new products
 
33. 
Brand
 
A name, term, design, symbol, or any other feature that identifies one marketer's product as distinct from those of other marketers
 
34. 
Brand name
 
The part of a brand that can be spoken
 
35. 
Brand mark
 
The part of a brand not made up of words
 
36. 
Trademark
 
A legal designation of exclusive use of a brand
 
37. 
Trade name
 
Full legal name of an organization
 
38. 
Brand equity
 
THe marketing and financial value associated with a brand's strength in a market
 
39. 
Brand loyalty
 
A customer's favorable attitude toward a specific brand
 
40. 
Brand recognition
 
A customer's awareness that the brand exists and is an alternative purchase
 
41. 
Brand preference
 
The degree of brand loyalty in which a customer prefers one brand over competitve offerings
 
42. 
Brand insistence
 
The degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute
 
43. 
Manufacturer brands
 
Brands initiated by producers
 
44. 
Private distributer brands
 
Brands initiated and owned by resellers
 
45. 
Generic brands
 
Brands indicating only the product category
 
46. 
Individual branding
 
A policy of naming each product differently
 
47. 
Family branding
 
Branding all of a firm's products with the same name
 
48. 
Brand extension
 
Using an existing brand to brand a new product in a different product category
 
49. 
Co-branding
 
Using 2 or more brands on 1 product
 
50. 
Brand licensing
 
An agreement whereby a company permits another organization to use its brand on other products for a licensing fee
 
51. 
Family packaging
 
Using similar packaging for all of a firm's products or packaging that has one common design element
 
52. 
Labeling
 
Providing identifying, promotional, or other information on package labels