Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
26 Cards in this Set
- Front
- Back
|
Product |
Anything that can be offerered to a market for attention, acquisitions, use or consumption that might satisfy a want or need |
|
|
Services |
An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything |
|
|
Consumer Product |
A product bought by final consumers for personal consumption |
|
|
Convenience Product |
A consumer product that customers usually buy frequently, immediately, and with minimal comparison to buying effort. (Ex: Laundry Detergent, Candy, Magazines, and Fast food) |
|
|
Shopping Product |
A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as sustainability, quality, price, and style. (Ex: Furniture, Clothing, Used Car, Major Appliances, and Hotel and Airline Services) |
|
|
Specialty Product |
A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. (Ex: Specific Brand of Cars, High-Priced Photographic Equipment, Designer Clothes, and services of Medical or Legal Specialists) |
|
|
Unsought Product |
A consumer product that the consumer either does not know about or knows about but doesn't normally consider buying. (Ex: Life Insurance, Pre-planned Funeral Services, and Blood Donations to the Red Cross.) |
|
|
Industrial Product |
A product bought by individuals and organizations for further processing or for use in conducting a business |
|
|
Social Marketing |
The use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society |
|
|
Product Quality |
The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs |
|
|
Brand |
A name, term, sign, symbol, or design, or combination of these, that identifies the product or services of on seller or group of sellers and differentiates them from those competitirors |
|
|
Packaging |
The activities of designing and producing the container or wrapper for a product |
|
|
Product Line |
A 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 |
|
|
Product Mix (or Product Portfolio) |
The set of all product lines and items that a particular seller offers for sale |
|
|
Service Intangibility |
The concept that services cannot be seen, tasted, felt, heard, or smelled before they are bought |
|
|
Service Inseparability |
The concept that services are produced and consumed at the same time and cannot be separated from their providers |
|
|
Service Variability |
The concept that the quality of services may vary greatly depending on who provides them and when, where, and how they are provided |
|
|
Service Perishability |
The concept that services cannot be stored for late sale or use |
|
|
Service Profile Chain |
The chain that links service firm profits with employee and customer satisfaction |
|
|
Internal Marketing |
Orienting and motivating customer contact employees and service-support people to work as a team to provide customer satisfaction |
|
|
Interactive Marketing |
Training Service Employees in the fine art of interacting with customers to satisfy their needs |
|
|
Brand Equity |
The differential effect that knowing the brand name has on customer response to the product or its marketing |
|
|
Store Brand (or Private Brand) |
A brand created and owned by a re-seller of a product or service |
|
|
Co-Branding |
The practice of using the established brand names of two different companies on the same product |
|
|
Line Extension |
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category |
|
|
Brand Extension |
Extending an existing brand name to new product categories |
