CH 12 -- Product and Servive Strategies Flashcards
Marketing Mix
Blending of the four strategy elements – product, distribution, promotion and price – to fin the needs and preferences of a specific target market
Product
Bundle of physical, service and symbolic attributes designed to satisfy a customer’s wants and needs
Services
Intagible tasks that satisfty the needs of consumer and business users
Goods
Tangible products customers can sees, hear, smell, touch, or tasts
Good-Services Continuum
Spectrum along which goods and services fall according to their attributes, from pure good to pure service.
Homeshoring
hiring workers to do jobs from their homes
Business to Consumer Product (B2C)
Product designed for use by ultimate consumer
Business to Business Product (B2B)
Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product.
Unsought Products
Products marketed to consumers who may not yet recognize a need for them
Convenience Products
Goods and services consumers want to purchase frequently, immediately, and with minimal effort
Impulse Goods and Services
Products purchased on the spur of the moment
Staples
Convenience goods and services consumers constantly replenish to maintain a steady inventory
Emergency Goods and Services
Products bought in response to unexpected and urgent needs
Shopping Products
Products consumers purchase after comparing competing offers
Specialty Products
Products with unique characteristics that cause buyers to prize those particular brands
