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Marketing
Chapter 12
Term | Definition |
---|---|
Line extension | Development of a product that is closely related to existing products in the line but is designed specifically to meet different customer needs |
Product modifications | Changes in one or more characteristics of a product |
Quality modifications | Changes relating to a product's dependability and durability |
Functional modifications | Changes affecting a product's versatility, effectiveness, convenience, or safety |
Aesthetic modifications | Changes relating to the sensory appeal of a product |
New-product development process | A seven-phase process for introducing products: idea generation, screening, concept testing, business analysis, product development, test-marketing, and commercialization |
Idea generation | Seeking product ideas to achieve organizational objectives |
Screening | Selecting the ideas with the greatest potential for further review |
Concept testing | Seeking a sample of potential buyers' responses to a product idea |
Business analysis | Evaluating the potential impact of a product idea on the firm's sales, cost, and profits |
Product development | Determining if producing a product is technically feasible and cost effective |
Test marketing | A limited introduction of a product in geographic areas chosen to represent the intended market |
Commercialization | Refining and finalizing plans and budgets for full-scale manufacturing and marketing of a product |
Product differentiation | Creating and designing products so that customers perceive them as different from competing products |
Quality | The overall characteristics of a product that allow it to perform as expected in satisfying customer needs |
Level of quality | The amount of quality a product possesses |
Consistency of quality | The degree to which a product has the same level of quality over time |
Product design | How a product is concede, planned, and produced |
Styling | The physical appearance of a product |
Product features | Specific design characteristics that allow a product to perform certain task |
Line extension | Development of a product that is closely related to existing products in the line but is designed specifically to meet different customer needs |
Product modifications | Changes in one or more characteristics of a product |
Quality modifications | Changes relating to a product's dependability and durability |
Functional modifications | Changes affecting a product's versatility, effectiveness, convenience, or safety |
Aesthetic modifications | Changes relating to the sensory appeal of a product |
New-product development process | A seven-phase process for introducing products: idea generation, screening, concept testing, business analysis, product development, test-marketing, and commercialization |
Idea generation | Seeking product ideas to achieve organizational objectives |
Screening | Selecting the ideas with the greatest potential for further review |
Concept testing | Seeking a sample of potential buyers' responses to a product idea |
Business analysis | Evaluating the potential impact of a product idea on the firm's sales, cost, and profits |
Product development | Determining if producing a product is technically feasible and cost effective |
Test marketing | A limited introduction of a product in geographic areas chosen to represent the intended market |
Commercialization | Refining and finalizing plans and budgets for full-scale manufacturing and marketing of a product |
Product differentiation | Creating and designing products so that customers perceive them as different from competing products |
Quality | The overall characteristics of a product that allow it to perform as expected in satisfying customer needs |
Level of quality | The amount of quality a product possesses |
Consistency of quality | The degree to which a product has the same level of quality over time |
Product design | How a product is concede, planned, and produced |
Styling | The physical appearance of a product |
Product features | Specific design characteristics that allow a product to perform certain task |
Customerr services | Human or mechanical efforts or activities that add value to a product |
Line extension | Development of a product that is closely related to existing products in the line but is designed specifically to meet different customer needs |
Product modifications | Changes in one or more characteristics of a product |
Quality modifications | Changes relating to a product's dependability and durability |
Functional modifications | Changes affecting a product's versatility, effectiveness, convenience, or safety |
Aesthetic modifications | Changes relating to the sensory appeal of a product |
New-product development process | A seven-phase process for introducing products: idea generation, screening, concept testing, business analysis, product development, test-marketing, and commercialization |
Idea generation | Seeking product ideas to achieve organizational objectives |
Screening | Selecting the ideas with the greatest potential for further review |
Concept testing | Seeking a sample of potential buyers' responses to a product idea |
Business analysis | Evaluating the potential impact of a product idea on the firm's sales, cost, and profits |
Product development | Determining if producing a product is technically feasible and cost effective |
Test marketing | A limited introduction of a product in geographic areas chosen to represent the intended market |
Commercialization | Refining and finalizing plans and budgets for full-scale manufacturing and marketing of a product |
Product differentiation | Creating and designing products so that customers perceive them as different from competing products |
Quality | The overall characteristics of a product that allow it to perform as expected in satisfying customer needs |
Level of quality | The amount of quality a product possesses |
Consistency of quality | The degree to which a product has the same level of quality over time |
Product design | How a product is concede, planned, and produced |
Styling | The physical appearance of a product |
Product features | Specific design characteristics that allow a product to perform certain task |
Customer setr | |
Product deletion | Eliminating a product from the product mix when it no longer satisfies a sufficient number of customers |
Product manager | The person within an organization who is responsible for a product, a product line, or several distinct products that make up a group |
Brand manager | The person responsible for a single brand |
Market manager | The person responsible for managing the marketing activities that serve a particular group of customers |
Venture team | A cross-functional group that creates entirely new products that may be aimed at new markets |