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Marketing2.0Pt2Vocab
2.0 Part II Vocab
Term | Definition |
---|---|
communication | exchange of thoughts & opinions |
service | supplying an activity rather than products or goods |
culture | the different ways in which people behave, act, or think towards themselves and other in society |
business policy | is a predetermined course of action which is established to provide a guide toward accepted business strategies and objectives |
standards | statements that specify a product’s size, contents, and/or qualit |
grades | are ratings assigned to products |
ISO 9000 | international standards for quality |
warranty | will repair or replace a product that does not perform as expected |
guarantee | the seller will refund the consumer’s purchase price if the product doesn’t perform as expected |
Magnuson-Moss Warranty Act | provides guidelines for businesses offering warranties and guarantees with their product |
product liability | the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause |
product recall | a request to return to the maker a batch or an entire production run of a product, usually due to the discovery of safety issues |
corporate/company image | the perception that the general public holds about a particular business |
touch points | all opportunities that businesses have to connect with customers and reinforce brand value |