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Chp. 7 Marketing
| Question | Answer |
|---|---|
| Product | Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. |
| Service | Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. |
| Consumer Product | Product bought by final consumer for personal consumption. |
| Convenience Product | Consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort. |
| Shopping Product | COnsumer good that the customers, in the process of selection and purchase, characteristically compare on such bases as suitability =, quality, price, and style. |
| Specialty Product | Consumer product with unique characteristics or brand indentification for which a significant group of buyers is willing to make a special purchase effort. |
| Unsought Product | Consumer product that the consumer either does not know about or knows about but does not normally think of buying. |
| Industrial Product | Product bought by individuals and organizations for further processing or for use in conducting a business. |
| Social Marketing | The use of commercial marketing cconcepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society. |
| Product Quality | The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs. |
| Brand | A name, term, sign, symbol, or design or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors. |
| Packaging | The activities of designing and producing the container or wrapper for a product. |
| Product Line | A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. |
| Product Mix | The set of all product lines and items that a particular seller offers for sale. |
| Brand Equity | The positive differential effect that knowing the brand name has on customer response to the product or service. |
| Store Brand | A brand created and owned by a reseller of a product or service. |
| Co-branding | The practice of using the established brand names of two different companies on the same product. |
| Line Extension | Extending an existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category. |
| Brand Extension | Extending an existing brand name to new product categories. |
| Service Intangibility | A major characteristic of services-they cannot be seen, tasted, felt, heard, or smelled before they are bought. |
| Service Inseparability | A major characteristic of services-they are produced and consumed at the same time and cannot be separated from their providers. |
| Service Variability | A major characteristic of services-their quality may vary greatly, depending on who provides them and when, where, and how. |
| Service Perishability | A major characteristic of services - they cannot be stored for later sale or use. |
| Service-Profit Chain | The chain that links service firm profits with employee and customer satsfaction. |
| Internal Marketing | Orienting and motivating customer contact employees and the supporting service people to work as a team to provide customer satisfaction. |
| Interactive Marketing | Training service employees in the fine art of interacting with customers to satisfy their needs. |
Created by:
tgrant01
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