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39 Cards in this Set
- Front
- Back
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How new products are developed
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-Idea development
-New idea screening -Buisness analysis -Product development -Test marketing -Commercialization |
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A trial minilaunch of a product in limited areas that represent the potential market
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Test marketing
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The full introduction of a complete marketing strategy and the launce of the product for commercial success
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Commercialization
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Products intended for household or family use
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Consumer products
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Products that are used directly or indirectly in the operation or manufacturing processes of business
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Business products
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A group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations
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Product line
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All the products offered by an organization
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Product mix
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Product classifications
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-Consumer products
-Business products |
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Product identification
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-Branding
-Packaging -Labeling -Product Quality |
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The process of naming and identifying products
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Branding
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A brand that is registered with the U.S. Patent and Trademark Office and is thus legally protected from use by any other firm
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Trademark
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Brands initiated and owned by the manufacturer to identify products from the point of production to the point of purchase
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Manufacturer brands
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Brands, which may cost less than manufacturer brands, that are owned and controlled by a wholesaler or retailer
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Private distributor brands
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Products with no brand name that ofthen come in simple packages and carry only their generic name
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Generic products
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The external container that holds and describes the product
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Packaging
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The presentation of important information on a package
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Labeling
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The degree to which a good, service, or idea meets the demands and requirements of customers
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Quality
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Charging the highest possible price that buyers who want the product will pay
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Price skimming
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A low price designed to help a product enter the market and gain market share rapidly
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Penetration price
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Encouraging purchases based on emotional rather than rational responses to the price
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Temporary price reductions, often employed to boost sales
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A group of organizations that move products from their producer to customers; also called a channel of distribution
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Marketing channel
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Intermediaries who buy products from manufacturers (or other intermediaries_ and sell them to consumers for home and household use rather than for resale or for use in producing other products
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Retailers
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Intermediaries who buy from producers or from other wholesalers and sell to retailers
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Wholesalers
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A form of market coverage whereby a product is made available in as many outlets as possible
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Intensive distribution
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A form of market coverage whereby only a small number of all available outlets are used to expose products
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Selective distribution
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The awarding by a manufacturer to an intermediary of the sole right to sell a product in a defined geographic territory
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Exclusive distribution
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All the activities necessary to move products form producers to customers--inventory control, transportation, warehousing, and materials handling
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Physical distribution
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The shipment of products to buyers
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Transportation
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The design and operation of facilities to receive, store, and ship products
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Warehousing
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The physical handling and movement of products in warehousing and transportation
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Materials handling
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Coordinating the promotion mix elements and synchronizing promotion as a unified effort
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Integrated marketing communications
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A paid form of nonpersonal communication transmmitted through a mass medium, such as television commercials, magazine advertisements, and online ads
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Advertising
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Designing a series of advertisements and placing them in various media to reach a particular target market
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Advertising campaign
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Direct, two-way communication with buyers and potential buyers
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Personal selling
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Nonpersonal communication transmitted through the mass media but not paid for directly by the firm
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Publicity
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Direct inducements offering added value or some other incentive for buyers to enter into an exchange
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Sales promotion
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An attempt to motivate intermediaries to push the product down to their customers
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Push strategy
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The use of promotion to create consumer demand for a product so that consumers exert pressure on marketing channel mambers to make it available
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Pull strategy
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The use of promotion to create and maintain an image of a product in buyers' minds
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Promotional positioning
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