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75 Cards in this Set
- Front
- Back
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Product |
Anything that can be offered in a market for attention, acquisiton, use or consumption that might satisfy a need for want. |
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Service |
Activities,benefits or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything |
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Forms of Product |
Tangible - Goods Intangible - Services |
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Experiences |
Represent what buying the product or service will do for the customer. |
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Core Benefits Actual Product Augmented Product |
Levels of Product and Services
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Core Benefits |
Represent what the buyer is really buying |
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Actual Product |
Represents the design, brand name and packaging that delivers the core benefit to the customer. |
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Augmented Product |
Represents additional services or benefits of the actual product |
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Consumer Products - Personal use Industrial Products - Further processing |
Types of Product |
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Convenience Shopping Specialty Unsought |
Consumer Product Classification |
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Convenience Products |
Consumer products that the customer usually buys frequently, immediately and with a minimum comparison and buying effort |
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Shopping Products |
Consumer products that the customer compares carefully on suitability,quality, price, and style |
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Specialty Products |
Consumer products with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort |
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Unsought Products |
Consumer products that the consumer does not know about but does not normally think of buying |
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Industrial Products |
Product bought by individuals and organizations for futher processing or for use in conducting a business |
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Capital items |
Industrial products that aid in the buyer's production or operations |
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Materials and parts |
Include raw materials and manufactured materials and parts usually sold directly to industrial users |
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Supplies and services |
Operating supplies,repair and maintenance items, and business services |
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Organization Marketing |
Consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward an organization |
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Person Marketing |
Consists of activities undertaken to create maintain or change attitudes and behavior of target consumers toward particular people |
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Place Marketing |
Consists of activities undertaken to create,maintain or change attitudes and behavior of target consumers toward particular places. |
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Social Marketing |
The use of commercial marketing concepts and tools in programs designed to influence individual's behavior to improve their well-being and that of society |
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Social Marketing |
The use of commercial marketing concepts and tools in programs designed to influence individual's behavior to improve their well-being and that of society |
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Product Attributes Branding Packaging Labelling Product Support Services |
Product and Service Decisions |
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Product or Service Attributes |
Communicate and deliver the benefits • Quality • Features • Style and design |
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Product Quality |
The chracteristics of product or service that bear on its ability to satisfy stated or implied customer needs. |
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Product Quality Level |
The level of quality that supports the products's positioning |
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Product Conformance Quality |
The product's freedom from defects and consistency in delivering a targeted level of performance |
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Product Features |
Competitive tool for differentiating a product from competitors' product |
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Product Features |
Assessed based on the value to the customer versus the cost to the company |
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Style |
Describes the apperance of the product |
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Design |
Contributes to a product's usefulness as well as to its looks |
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Brand |
Name, term, sign or design or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors |
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Packaging |
Involves designing and producing the container or wrapper for a product |
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Labels |
Identify the product or brand, describe attributes and provide promotion |
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Product Line |
Group of products that are closely related because they function in a similar manner, are sold to the same customer groups,are marketed through the same types of outlets,or fall within given price ranges |
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Product Line Length |
The number of items in the product line |
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Product Line Stretching |
When a company lengthens its product line beyond its current range |
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Product Line Filling |
Occurs when companies add more items within the present range |
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Product Mix |
Consists of all the products and items that a particular seller offers for sale • Width • Length • Depth • Consistency |
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Government Private not for profit organizations Business Services |
Types of Service Industries |
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Intangibility |
Services cannot be seen, tasted, felt, heard or smelled before purchase |
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Inseparability |
Services cannot be separated from their providers |
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Variability |
Quality of servicws depends on who provides them and when, where and how |
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Perishability |
Services cannot be stored for later sale or use |
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Service-profit chain |
Links service firm profits with employee and customer satisfaction |
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Internal service quality Satisfied and productive service employees Greater service value Satisfied and loyal customer Healthy service profits and growth |
Service-profit chain |
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Internal Marketing |
Orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction MUST PRECEDE external marketing |
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Interactive Marketing |
Training services employer in the fine art of interacting with customers to satisfy their needs |
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Service Differentiation |
Creates competitive advantage from the offer,delivery and image of the service |
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Offer |
Include distinctive features |
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Delivery |
Include more able and reliable customer contact people, environment, or process |
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Image |
Include symbols and branding |
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Service Quality |
Provides a competitive advantage by delivering consistently higher quality than its competitors |
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Service Quality |
Always varies depending on interactions between employees and customers |
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Service Productivity |
It refers to the cost side of marketing strategies for service firms |
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Service Productivity |
Employee recruiting, hiring, and training strategies |
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Brand Equity |
Differential effect that knowing the brand name has on customer response to the product or its marketing |
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Brand Positioning Brand name decision Brand Sponsorship Brand Development |
Branding Strategies (4) |
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Product Attributes Product Benefits Product Beliefs and Value |
Brand Positioning |
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Suggest benefits and qualities Easy to pronounce, recognize and remember Distinctive Extendable Translatable for the global economy Capable of registration and legal protection |
Brand Name Selection |
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Manufacturer's brand Private brand Licensed brand Co-brand |
Brand sponsorship (4) |
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Manufacturer's brand |
Also called PRODUCER BRANDS |
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Manufacturer's Brand |
Are owned and initiated by manufacturers |
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Private Distributor Brand |
Also called PRIVATE BRANDS, STORE BRANDS OR DEALERS BRANDS |
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Private Distributor Brand |
Are owned and initiated by wholesalers and retailers |
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Licensed Brand |
Requires license agreement |
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Co-Branding |
Partnership of 2 brands |
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Line Extension |
Adding new sizes,styles, colors & flavors to existing product |
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Brand Extension |
- Also known as Sub Brand - Famous brand name extended to new profucts |
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Parent brand |
An existing brand that gives birth to a brand-extension |
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Line Extension |
Existing Brand Name Existing Product Category |
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Brand Extension |
Existing Brand name New product category |
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Multibrands |
New Brand Name Existing Product Category |
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New Brands |
New Brand name New Product Category |
