Marketing Test 3

Front 1

A good, a service, or an idea received in an exchange

Back 1

product

Front 2

The product’s fundamental utility or main benefit Addresses the basic need of the consumer

Back 2

core product

Front 3

Provide the added value or attributes in addition to a product’s core utility or benefit

Back 3

Supplement feature

-delivery

-installation

-financing

Front 4

Buyers purchase the benefits and satisfaction they think the product will provide

Back 4

symbolic and experiential benefits

Front 5

Products purchased to satisfy personal and family wants and needs

Back 5

consumer products

Front 6

Products bought to use in a firm’s operations to resell or to make other products Purchased to satisfy the goals of the organization

Back 6

business products

Front 7

Relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort

Back 7

convenience products

Front 8

Items for which buyers are willing to expend considerable effort in planning and making purchases

Back 8

shopping products

Front 9

Items with unique characteristics that buyers are willing to expend considerable effort to obtain

Back 9

specialty products

Front 10

Products purchased to solve a sudden problem, products of which customers are unaware,and products that people do not necessarily think of buying

Back 10

unsought products

Front 11

Facilitiesand non portableequipmentOfficebuilding, very large machines

Back 11

installations

Front 12

Equipmentthat does not become part of the final physical product but is used inproduction or office activitiesFilecabinets, tools, software

Back 12

Accessory Equipment

Front 13

Basicnatural materials that become part of a physical product

Back 13

raw materials

Front 14

Itemsthat become part of the physical product and are either finished items readyfor assembly or items that need little processing before assemblyCar:tires, spark plugs, brakes

Back 14

component parts

Front 15

Materialsthat are used directly in the production of other products but are not readilyidentifiable

Back 15

process materials

Front 16

Maintenance,repair, and operating items that facilitate production and operations but do not becomepart of the finished product (cleaning supplies)

Back 16

MRO supplies

Front 17

Intangibleproducts that many organizations use in their operations (marketing research,legal consulting)

Back 17

business services

Front 18

Aspecific version of a product that can be designated as a distinct offeringamong a firm’s products

Back 18

product item

Front 19

Agroup of closely related product items viewed as a unit because of marketing,technical, or end-use considerations

Back 19

product line

Front 20

Thecomposite, or total, group of products that an organization makes available tocustomers

Back 20

product mix

Front 21

Thenumber of product lines a company offers

Back 21

width of product mix

Front 22

Theaverage number of different products in each product line

Back 22

depth of product mix

Front 23

product life cycle is theprogression of a product through what four stages:

Back 23

Introduction

Growth

Maturity

Decline

Front 24

Theinitial stage of a product’s life cycleItsfirst appearance in the marketplace when sales start at zero and profits arenegativeHighrisk of failure

Back 24

product life cycle: introduction

Front 25

Theproduct life cycle stage when sales rise rapidly, profits reach a peak, andthen they start to declinePromotioncosts drop as a percentage of sales

Back 25

product life cycle: Growth

Front 26

Thestage of a product’s life cycle when the sales curve peaks and starts todecline, and profits continue to fallIntensecompetition

Back 26

product life cycle: maturity

Front 27

Thestage of a product’s life cycle when sales fall rapidly

Back 27

product life cycle: decline

Front 28

Thefive-stage process of buyer acceptance of a product:

Back 28

awareness

interest

evaluation

trial

adoption

Front 29

Thebuyer becomes aware of the product

Back 29

awareness

Front 30

Thebuyer seeks information and is receptive to learning about the product

Back 30

interest

Front 31

Thebuyer considers the product’s benefits and decides whether to try it,considering its value versus the competition

Back 31

evaluation

Front 32

Thebuyer examines, tests, or tries the product to determine if it meets his or herneeds

Back 32

trial

Front 33

Thebuyer purchases the product and can be expected to use it again whenever theneed for this product arises

Back 33

adoption

Front 34

Peoplewho adopt new products early, choose new products carefully, and are viewed as“the people to check with” by later adopters

Back 34

early adopters

Front 35

Firstadopters of new products

Back 35

innovation

Front 36

Individualswho adopt a new product just prior to the average person

Back 36

early majority

Front 37

Skepticswho adopt new products when they feel it is necessary

Back 37

late majority

Front 38

Thelast adopters who distrust new products

Back 38

laggards

Front 39

aname, term, design, symbol or other feature that identifies one seller’sproduct as distinct from those of other sellers

Back 39

brand

Front 40

isthe part of a brand that can be spoken, including letters, words and numbers

Back 40

brand name

Front 41

isthe part of a brand that is not made up of words, such as a symbol or design

Back 41

brand mark

Front 42

is alegal designation of exclusive use of a brand

Back 42

trademark

Front 43

isthe full legal name of an organization

Back 43

trade name

Front 44

is acustomer’s favorable attitude toward a specific brand

Back 44

brand loyalty

Front 45

thedegree of brand loyalty in which a customer is aware that a brand exists andviews the brand as an alternative purchase if their preferred brand isunavailable

Back 45

brand recognition

Front 46

thedegree of brand loyalty in which a customer prefers one brand over competitiveofferings

Back 46

brand preference

Front 47

thedegree of brand loyalty in which a customer strongly prefers a specific brandand will accept no substitute

Back 47

brand insistence

Front 48

marketingand financial value associated with a brand’s strength in a market

Back 48

brand equity

Front 49

areinitiated by producers to ensure that producers are identified with theirproducts at the point of purchase

Back 49

manufacturer brands

Front 50

areinitiated and owned by a re seller

Back 50

private distributor brands

Front 51

arebrands indicating only the product category

Back 51

generic brands

Front 52

is abranding strategy in which each product is given a different name

Back 52

individual branding

Front 53

isbranding all of a firm’s products with the same name or part of a name

Back 53

family branding

Front 54

usingtwo or more brands on one product

Back 54

co-branding

Front 55

anagreement whereby a company permits another organization to use its brand onother products for a licensing fee

Back 55

brand licensing

Front 56

Customerssee added value in a package that can be reused

Back 56

secondary- use packaging

Front 57

Aproduct is packaged in line with the packaging practices for that productcategory, such as peanut butter

Back 57

category consistent packaging

Front 58

Offeringproducts in twin packs, tri-packs, six-packs or other forms is useful for someproducts as it may increase consumption but does not work for all products

Back 58

multiple packaging

Front 59

Makinga package easier to handle in the distribution channel

Back 59

handling- improved packaging

Front 60

providingidentifying, promotional or other information on package labels

Back 60

labeling