Chap 12 Vocabulary

Front 1

Test Marketing

Back 1

A trial mini launch of a product in limited areas that represent the potential market

Front 2

Commercialization

Back 2

the full introduction of a complete marketing strategy and the launch of the product for commercial success

Front 3

Consumer Products

Back 3

Products intended for household or family use

Front 4

Business products

Back 4

Products that are used directly or indirectly in the operation or manufacturing process of business

Front 5

Product line

Back 5

A group of closely related products that are treated as a unit because of similar marketing strategy production, or end-use considerations.

Front 6

Product Mix

Back 6

All the products offered by an organization.

Front 7

Branding

Back 7

The process of naming and identifying products.

Front 8

Trademark

Back 8

A brand that is registered with the U.S Patent and Trademark office and is thus legally protected from use by any other firm.

Front 9

Manufacturer brands

Back 9

Brands initiated and owned by the manufacturer to identify products from the point of production to the point of purchase.

Front 10

Private distributor brands

Back 10

Brands, which may cost less than manufacturer brands, that are owned and controlled by a wholesaler or retailer.

Front 11

Generic Products

Back 11

Products with no brand name that often come in simple packages and carry only their generic name.

Front 12

Packaging

Back 12

the external container that holds and describes the product.

Front 13

Labeling

Back 13

The presentation of important information on a package.

Front 14

quality

Back 14

the degree to which a good, service or idea meets the demands and requirements of customers

Front 15

price skimming

Back 15

charging the highest possible price that the buyers who want the product will pay

Front 16

penetration price

Back 16

a low price designed to help a product enter the market and gain market share rapidly

Front 17

psychological pricing

Back 17

encouraging purchases based on emotion rather than rational responses to the price

Front 18

reference pricing

Back 18

a type of physiological pricing in which a lower-priced item is compared to a more expensive brand in hopes that the consumer will use the higher price as a comparison price

Front 19

discounts

Back 19

temporary price reduction, often employed to boost sales

Front 20

marketing channel

Back 20

a group of organizations that moves products from their producer to customers; also called a channel of distribution

Front 21

retailers

Back 21

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

Front 22

wholesalers

Back 22

intermediaries who buy from producers or from other wholesalers and sell to retailers

Front 23

intensive distribution

Back 23

a form of market coverage whereby a product is made available in as many outlets as possible

Front 24

selective distribution

Back 24

a form of market coverage whereby only a small number of all available outlets are used to expose products

Front 25

exclusive distribution

Back 25

the awarding by a manufacturer to an intermediary of the sole right to sell a product in a defined geographic territory

Front 26

physical distribution

Back 26

all the activities necessary to move products from producers to consumers

i.e inventory control, transportation, warehousing, and materials handling

Front 27

transportation

Back 27

the shipment of products to buyers

Front 28

warehousing

Back 28

the design and operation of facilities to receive store and ship products

Front 29

materials handling

Back 29

the physical handling and movement of products in warehousing and transportation

Front 30

integrated marketing communications

Back 30

coordinating the promotion mix elements and synchronizing promotion as a unified effort

Front 31

advertising

Back 31

a paid form of nonpersonal communication transmitted through a mass medium, such as television commercials or magazine advertisements

Front 32

advertising campaign

Back 32

designing a series of advertisements and placing them in various media to reach a particular market

Front 33

personal selling

Back 33

direct, two-way communication with buyers and potential buyers

Front 34

publicity

Back 34

nonpersonal communication transmitted through the mass media but not paid for directly by the firm

Front 35

sales promotion

Back 35

direct inducements offering added value or some other incentive for buyers into an exchange

Front 36

push strategy

Back 36

an attempt to motivate intermediaries to push the product down to their customers

Front 37

pull strategy

Back 37

the use of promotion to create consumer demand for a product so that consumers exert pressure on the marketing channel members to make it available

Front 38

promotional positioning

Back 38

the use of promotion to create and maintain an image of a product in buyers' minds