Chp 14&15 – Flashcards
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Convenience goods and services are products that
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the consumer wants to purchase frequently without a lot of effort
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Concept testing
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takes a product idea to consumers to test their reactions
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A penetration strategy enables a company to
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capture a large share of the market quickly by using a low-price strategy
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Old Navy jeans are sold exclusively at Old Navy stores. This is an example of a(n) _________ brand.
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private-label brand
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Different stages in the product life cycle
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require different marketing strategies
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Bundling
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combines goods and/or services for a single price
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A legally protected brand is a
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trademark
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Product mix is
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the combination of all product lines offered by a manufacturer
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Place utility refers to
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distributing products to a place where it is convenient for customers to access and purchase
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Marketing intermediaries are
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firms that transport and store goods through a channel of distribution from producer to consumer
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A store that sells a huge variety of one type of product, such as books, in order to dominate the market for that product is called a _________ store
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category killer
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Service utility is
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adding value by providing fast, friendly service during and after the sale
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The major difference between wholesalers and retailers is that
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retailers sell to final consumers, while wholesalers sell to another member of the channel of distribution
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The movement of information and the movement of goods is a function of
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Logistics
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Intermodal shipping is
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the use of multiple modes of transportation for one shipment
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Intensive distribution
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puts products in as many retail outlets as possible
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An exclusive distribution strategy works for
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luxury brands
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Time utility adds value to products by
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making them available when they're needed
