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
