Marketing Class 3.01 vocabulary
The product life cycle stage in which sales and profits fall rapidly
Deep product Mix
A description of the depth of a business’s product mix offering a great many items in the product line
Under one product how many sub-products or how many varieties company have for that product.
the product like cycle stage when the product first appears in the marketplace.
the product life cycle stage in which sales rise rapidly
the product life cycle stage in which sales peak and then increase at a slower rate or start to decline
The sate of being outmoded or unfashionable. Becoming outdated becasue of advances in techonology. Becoming outdated due to the introduction of new products, processes, and/or technology
Marketing element focusing on considerations in getting a selected product in the right place at the right time.
Marketing element focusing on considerations in getting a selected product in the right place at teh right time.
The decision to buy from a certain business
A type of rivalry between or amon businesses that focuses on the use of price to attract scarce custome dollars
Price control (s)
Govenrment restrictions on the minimum and/or maximum prices of certain products
The decission a custome reaches on the price s/he is willing to pay for a good or service
A guideline regulating the rage of prices for goods and services tha tbusinesses offer to customers
a marketing function tha invloves the determining and adjusting of prices to maximize return and meet customers perceptions of value
Goals a company hopes to accomplish through its pricing strategies
A pricing strategy that involves etting prices higher than those of the competition
A name, term, symbol, or design (or combination of them) that identifies a product and distinguishes it from competitors product
the decision a customer makes on the brand, type, model, etc., to buy.
marketing element referring to waht goods, services, or ideas a business will offer its customers
The efforts involved in the creation of a new product the stage in the creation of a new product in which a working model may be tested, modified, and retested; production costs are estimated and final details of the product are planned, e.g., label, promotion, and distribution
A strategy for making a prduct appear different from similar products on the market
The removal of a weak product from the market and from the companys product mix, also known as prduct discontinuation
Each individual good, service, or idea tha a business offers for sale
the producers responsibility for any injury that the business products may cause
Product life cycle
THe stages through which goods and services move from the time they are introduced on the market until they are taken off the market
A group of related product items
A career that involves monitoring and developing one or more existing products
An individual who monitors one or more existing prducts and develops new products
The particular assortment of goods and services that a business offerts to meet the needs of its market(s) and its company goals
the ways in which businesses handle, or manage, their product mixes.
A guideline affecting the kinds of goods and services thast businesses offer to customers
In a sponsorship aggreement, the sponsor’s privilege of having its goods or services used at the event
The removal from the marketplaace of a product that is defective or hazardous to consumers
Services that are offered with a prodcut such as maintenance, delivery, or repair
A marketing function that involves obtaining, developing, maintaining, and improving a prodcut or service miz in response to market opportunities
The particular assortment of prodcuts that a business offers in order to meet the needs of its markets and its company goals
Criteria for determining a products ability to meet specified guidelines or requirements
the act of communicating information about products, services, images, or ideas to customers or clients
Marketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products
A combination, or blen, of marketing communication channels that a business uses to send its messages to consumers (i.e., advertising, sales promotion, personal selling, and publicity).
A framework for the promotional activities of a business
A guideline affecting the kinds of special activites, such as contests and prizes, that businesses use to attract customers and to increase sales
a product mizx dimension reffering to the number of product lines carried by a company
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