Marketing An Introduction Chapter 7 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Product
answer
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
question
Services
answer
A form of product consisting of an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.
question
Consumer Products
answer
Products bought by final consumers for personal consumption .
question
Convenience Product
answer
Consumer Product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort.
question
Shopping Product
answer
A consumer product that the customer, in the process of selection and purchase, usually compares on such bases as suitability, quality, price, and style.
question
Specialty Product
answer
Consumer product with unique characteristics or brand identity for which a significant group of buyers is willing to make a special purchase effort.
question
Unsought Product
answer
Consumer product that the consumer either does not know about or knows about but does not normally think of buying.
question
Industrial Products
answer
Product bought by individuals and organizations for further processing or for use in conducting a business
question
Social Marketing
answer
Use of commercial marketing concepts and tools in programs designed to influence individuals behavior to improve their well-being and that of society (social marketing institute).
question
Product Quality
answer
The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
question
Brand
answer
Name, term, sign, symbol, or design that identifies the products or services of seller(s) and differentiates them from those of competitors.
question
Packaging
answer
Activities of designing and producing the container.
question
Product Line
answer
Group of products closely related because they function in a similar manner, are sold to the same customer groups, marketed through same types of outlets, or fall within given price ranges.
question
Product Mix (Product Portfolio)
answer
Set of all product lines and items that a particular seller offers for sale.
question
Service Intangibility
answer
Major characteristics of services-they cannot be seen, tasted, felt, heard, or smelled before they are bought.
question
Service Inseparability
answer
Major characteristics of services- they are produced and consumed at the same time and cannot be separated from their providers
question
Service Variability
answer
Major characteristic of services- their quality may vary greatly, depending on who provides them and when, where, and how.
question
Service Parishibility
answer
A major characteristic of services- they cannot be stores for later sales or use
question
Service
answer
Profit chain- chain that links service from profits with employee and customer satisfaction
question
Internal Marketing
answer
Orienting and motivating customer-contract employees and supporting service people to work as a team to provide customer satisfaction.
question
Interactive Marketing
answer
Training service employees in the fine art of interacting with customers to satisfy their needs
question
Brand Equity
answer
The differentiated effect that knowing the brand has on customer response to the product or its marketing
question
Store Brand
answer
A brand created and owned by a re-seller of a product or service
question
Co-branding
answer
Practice of using the established brand names of two different companies on the same product
question
Line Extension
answer
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
question
Brand Extension
answer
Extending an existing brand name to new product categories.
