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65 Cards in this Set
- Front
- Back
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Branding:
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Selecting products/services that have a name, symbol, or design for identification.
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Competition:
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The struggle between companies for the same customers or market
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Consumer products:
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Products used by consumers for family, personal, or household purposes.
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Consumer services:
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Activities used by consumers for family, personal, or household purposes.
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Convenience goods:
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Inexpensive products that are purchased regularly and require little time and effort for purchase decisions.
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Emergency goods:
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Goods purchased to satisfy an immediate need
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Goods:
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Tangible, physical products that satisfy a want or need.
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Impulse goods:
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Items that are purchased without advance planning.
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Industrial goods:
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Goods purchased by a business and used to produce other goods or for resale to consumers.
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Industrial services:
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Activities used by a business to insure proper operation, or contracted by a business to perform a task.
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Manufacturer:
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Producer of goods to sell to other manufacturers, wholesalers, and/or retailers.
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Market/product position:
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The image a product or business has in relation to its competition.
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Market research:
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(1) A system for collecting, recording, and analyzing information about customers, competitors, products, and services. (2) The process of investigating facts about a specific market.
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Market share:
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(1) A percentage of the total market that is controlled by a business. (2) A portion of the total sales generated by all the competing companies in a given market.
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Non-good services:
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Personal or professional services performed for a fee.
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Owned-goods services:
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Services that alter, improve, or repair products owned by the customer.
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Packaging:
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Physical appearance of a product, container, or wrapper
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Product consistency:
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The relationship of items in a business’s product line in terms of use, price range, target market, and methods of distribution and production.
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Product item:
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A specific model, brand, or size of product within a product line
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Product length/depth:
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The number of product items offered within a product line.
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Product life cycle:
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The evolution of a product/service during its life on the market
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Product line:
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A group of closely related products manufactured and/or sold by a business.
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Product mix:
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All the products and services a business makes or sells.
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Product mix strategy:
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A plan of action taken in selecting an appropriate product/service mix to achieve the goals of the business.
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Product-related services:
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Activities offered with or to compliment a product
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Product/service planning:
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The process of developing the product/service mix for a business by incorporating decisions relating to market opportunities.
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Product width/breadth:
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The number of different product lines a business manufactures or sells.
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Pure services:
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Activities performed that do not include a tangible product
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Product life cycle:
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The evolution of a product/service during its life on the market
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Rented-goods service:
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The service of making products available for customer use for a brief period of time for a fee.
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Product line:
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A group of closely related products manufactured and/or sold by a business.
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Services:
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(1) Tasks performed for the customer for a fee. (2) Intangible or conceptual products produced to satisfy a want or need.
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Product mix:
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All the products and services a business makes or sells.
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Product mix strategy:
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A plan of action taken in selecting an appropriate product/service mix to achieve the goals of the business.
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Product-related services:
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Activities offered with or to compliment a product
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Product life cycle:
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The evolution of a product/service during its life on the market
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Product/service planning:
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The process of developing the product/service mix for a business by incorporating decisions relating to market opportunities.
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Product line:
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A group of closely related products manufactured and/or sold by a business.
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Product width/breadth:
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The number of different product lines a business manufactures or sells.
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Product mix:
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All the products and services a business makes or sells.
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Pure services:
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Activities performed that do not include a tangible product
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Product mix strategy:
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A plan of action taken in selecting an appropriate product/service mix to achieve the goals of the business.
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Rented-goods service:
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The service of making products available for customer use for a brief period of time for a fee.
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Product-related services:
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Activities offered with or to compliment a product
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Services:
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(1) Tasks performed for the customer for a fee. (2) Intangible or conceptual products produced to satisfy a want or need.
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Product/service planning:
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The process of developing the product/service mix for a business by incorporating decisions relating to market opportunities.
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Product width/breadth:
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The number of different product lines a business manufactures or sells.
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Pure services:
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Activities performed that do not include a tangible product
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Rented-goods service:
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The service of making products available for customer use for a brief period of time for a fee.
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Services:
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(1) Tasks performed for the customer for a fee. (2) Intangible or conceptual products produced to satisfy a want or need.
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Shopping goods:
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Products that usually require a great deal of time and effort for the purchase decision.
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Specialty goods:
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Products that are sought by a consumer who desires a specific brand or product.
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Staple goods:
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Goods used often or regularly and which are kept on hand.
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Trade shows:
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Special meetings, shows, and exhibitions allowing vendors and manufacturers to introduce new items, display products, and promote established products/services.
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Shopping goods:
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Products that usually require a great deal of time and effort for the purchase decision.
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Wholesalers:
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Middlemen who obtain goods from manufacturers and resell them to industrial users, other wholesalers, and/or retailers.
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Specialty goods:
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Products that are sought by a consumer who desires a specific brand or product.
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Staple goods:
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Goods used often or regularly and which are kept on hand.
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Shopping goods:
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Products that usually require a great deal of time and effort for the purchase decision.
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Specialty goods:
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Products that are sought by a consumer who desires a specific brand or product.
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Trade shows:
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Special meetings, shows, and exhibitions allowing vendors and manufacturers to introduce new items, display products, and promote established products/services.
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Staple goods:
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Goods used often or regularly and which are kept on hand.
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Wholesalers:
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Middlemen who obtain goods from manufacturers and resell them to industrial users, other wholesalers, and/or retailers.
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Trade shows:
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Special meetings, shows, and exhibitions allowing vendors and manufacturers to introduce new items, display products, and promote established products/services.
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Wholesalers:
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Middlemen who obtain goods from manufacturers and resell them to industrial users, other wholesalers, and/or retailers.
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