Chaper 14 Flashcards
When consumers calculate BLANK they look at the benefits of a product or service and subtract the costs to determine whether the benefits exceed the costs.
value
Companies usually offer a product line instead of just one product to:
appeal to similar consumer markets
tailor their offerings more closely to consumer wants
meet the competition
Convenience
matches
Choice, Purchased often with little thoughtPurchased often with little thought
Shopping
matches
Choice, Time spent on comparison to substitutesTime spent on comparison to substitutes
Specialty
matches
Choice, No substitute will doNo substitute will do
Unsought
matches
Choice, Unaware of product or not looking for itUnaware of product or not looking for it
Consumers calculate the value of a product by:
considering whether all of the benefits exceed all of the costs
Firms can gain market share by creatively establishing product BLANK that is either real or perceived by consumers.
differentiation
When consumers calculate BLANK they look at the benefits of a product or service and subtract the costs to determine whether the benefits exceed the costs.
value
The best way to promote a(n) BLANK good is to make it readily available and create the proper image.
convenience
is the creation of real or perceived differences in goods or services.
Product
differentiation
The best appeal for shopping products is a combination of BLANK quality, and service.
price or value
BLANK goods sell best with an established brand, image, and location.
Convenience
Price and quality are the two best ways to raise appeal for a BLANK good or service.
Shopping
A name, symbol, or design that identifies the goods or services of one seller or group of sellers is called a:
brand
A computer kept at home for personal use is considered a(n) BLANK good, whereas the same computer purchased for use in a Blank good
- . personal
2 business
What is an example of a manufacturer’s brand name?
Xerox
The value of the brand name and associated symbols refers to:
brand equity
When consumers are satisfied with a product, like the brand, and are committed to further purchases, a company has achieved a certain degree of BLANK BLANK for its product
brand
loyalty
How quickly or easily a given brand name comes to mind when a product category is mentioned refers to:
brand awareness
The reasons why many new products fail include:
poor positioning
too late to market
poor packaging
True or false: It takes dozens of ideas to generate one commercial product.
false
During BLANK , a marketing manager should use such criteria as fit with the firm’s other products, profit potential, and marketability.
product screening
Knowing what BLANK of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.
stage
Sellers are now able to commercialize new products more quickly through interactive websites that enable them to reach
Global market
Understanding the product life cycle can provide marketing managers a basis for planning
marketing mix
The stage in a product’s life cycle when it may become a “me too” product, and marketers need to communicate what makes it different from others products is called the BLANK stage
maturity
