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Marketing 300 uky > Chapter 12 and 13 exam review > Flashcards

Chapter 12 and 13 exam review Flashcards

1
Q

the development of a product that is closely related to existing products in the line, but is designed specifically to meet different customer needs

A

Line Extension

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2
Q

What are 3 reasons for line extensions

A

focus on a different segment, more precisely satisfy needs of current segment, capture market share from competitors

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3
Q

changes in one or more characteristics of a product

A

Product modification

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4
Q
  1. Product must be modifiable
  2. customers must be able to perceive customer satisfaction
  3. Modifications should produce greater customer satisfaction
    are requirements for what
A

Product Modification

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5
Q

is that the customers accustomed to the original may resist the modified version

A

Drawback

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6
Q

What are the 3 Major ways to modify products

A
  1. Quality modifications
  2. Functional Modifications
  3. aesthetic modifications
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7
Q

Changes related to a product’s dependability and durability

A

Quality Modifications

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8
Q

Change’s affecting the product’s versatility, effectiveness, convenience, or safety

A

Functional modifications

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9
Q

changes the sensory appeal of a product by altering taste, texture, sound, smell, or appearance

A

aesthetic modifications

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10
Q

innovative benefits, different and better than existing products, never been sold by any organization before, and never been sold by a particular firm or in a market before are all definitions of what

A

New product

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11
Q

what are the 7 phases of the new product development process?

A
  1. idea generation
  2. screening
  3. Concept testing
  4. business analysis
  5. product development
  6. test marketing
  7. commercialization
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12
Q

is the activity of seeking product ideas to achieve organizational objectives

A

Idea Generation

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13
Q

means selecting the ideas with the greatest potential for further review

A

screening

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14
Q

is seeking a sample of potential buyers’ responses to a specific product idea

A

concept testing

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15
Q

involves evaluating the potential impact of a product idea on the firm’s sales, costs, and profits

A

business analysis

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16
Q

is determining if producing a product id technically feasible and cost-effective

A

Product development

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17
Q

is a limited introduction of the product in geographic areas chosen to represent the intended market

A

Test marketing

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18
Q

is refining and finalizing plans and budgets for full-scale manufacturing and marketing a product

A

Commercialization

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19
Q

the process of creating and designing products so customers perceive them as different from competing products

A

product differentiation

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20
Q

the amount of quality a product possesses

A

level of quality

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21
Q

the degree to which a product has the same level of quality over time

A

consistency of quality

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22
Q

how a product is conceived, planned, and produced, (the total sum of a product’s physical characteristics

A

product design

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23
Q

physical appearences of a product (involves functioning and usefulness

A

styling

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24
Q

what are the three aspects of product differentiation are

A

product quality, product design and features, and customer services

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25
Q

specific design characteristics that allow a product to perform certain tasks (helps company differentiate its product)

A

Product features

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26
Q

human or mechanical efforts or activities that add value to a product

A

customer services

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27
Q

creating and maintaining a certain concept of product in a customers mind

A

product positioning

28
Q

created by questioning a sample of consumers about their perceptions of products, brand and organization with respect to two or more dimensions

A

perceptual map

29
Q

best when products are equal and if the price is lower

A

head-to-head

30
Q

critical when introducing a brand into a market in which the company already has one or more brands

A

avoid competition

31
Q

eliminating a product from the product mix when it no longer satisfies a sufficient number of customers

A

deletion

32
Q

responsible for a product, a product line, or several distinct products that make up a group

A

product manager

33
Q

responsible for a single brand

A

brand manager

34
Q

responsible for managing the marketing activities that serve a particular group of customers

A

market manager

35
Q

a cross-functional group that creates entirely new products that may be aimed at new markets

A

venture teams

36
Q

An intangible product that involves a deed, performance, or an effort that cannot physically be held

A

Service

37
Q

A practice whereby customer contact jobs are outsourced into workers homes

A

Home sourcing

38
Q

A service is not physical and cannot be perceived by the senses

A

Intangibility

39
Q

Production of a service cannot be separated from its consumption by customers, customers must be present at the consumption of the service and cannot take the service home, implies a shared responsibility between the customer and service provider in giving and receiving the service

A

Inseparability of production and consumption

40
Q

Unused service capacity from one time period cannot be stored for future use, service marketers have to balance supply and demand

A

Perishability

41
Q

Service has variations in quality
A.manufactured easier to standardize
B. Heterogeneity increases as labor intensiveness increases
C. Equipment based services have greater homogeneity

A

Heterogeneity

42
Q

Interactions resulting in satisfied customers who use a service repeatedly, important for service providers to maintain customers/ clients over the long-term, word of mouth communication has a key role in client-based relationship building

A

Client-based relationships

43
Q

The level of interaction between provider and customer needed to deliver the service
The look of facilities plays an important role in high-contact industries
Well-trained, satisfied employees are essential

A

Customer contact

44
Q

What are the 6 characteristics of services

A

Intangibility, inseparability of production and consumption, perishability, heterogeneity, client-based relationships, customer contact

45
Q

Services generally come in a bundle, core service, supplementary service, heterogeneity allows for customization, which creates a competitive advantage.

A

Development of service (4P)

46
Q

The basic service experience a customer expects to receive

A

core service

47
Q

One or more supportive services used to differentiate the service bundle from competitors

A

Supplementary service

48
Q

Marketers deliver services in a variety of ways
Service may be provided at a customers home or business
“At arms length”, with no face-to-face contact
Marketing channels for services are usually short and direct
Inventory management is a serious concern for services

A

Distribution of services (4P)

49
Q

Intangibility results in promotion-related challenges
Tangible question are a typical way to promote services
Personal selling can help customers visualize the service experienced
Word-of-mouth communication is important

A

Promotion of services (4P)

50
Q

Pricing should consider: consumer price sensitivity, nature of the transaction, costs
Prices can be based on: performance of specific tasks, time, level of demand
Marketers must decide whether to bundle options and how to price bundles
Consumers rely on price as an indicator of service quality

A

Pricing of Services (4P)

51
Q

Customers perception of how well a service meets or exceeds expectations

A

Service Quality

52
Q

Tangible attributes (of a product) such as color, style, size, feel, or fit that can be evaluated prior to purchase

A

Search qualities

53
Q

Attributes such as taste, satisfaction, or pleasure, that can be assessed only during purchase and consumption of a service

A

Experience qualities

54
Q

Attributes that customers may be unable to evaluate even after purchasing and consuming a service

A

Credence quality

55
Q

Two levels of expectations: desired and acceptable
Customer-contact employees are in the best position to learn what consumers want
Zone of tolerance

A

Analysis of customer expectations

56
Q

What the customer really wants

A

Desired

57
Q

The level of service. That is adequate

A

Acceptable

58
Q

The difference between the two levels (desired and acceptable)

A

Zone of tolerance

59
Q

An organization must set goals to ensure good service delivery
The most important aspect of service quality specifications is managers commitment to service quality

A

Service quality specifications

60
Q

Customer-contact employees are often the least trained and lowest paid
Customer contact employees should be well trained
Evaluation and compensation system is important to employee performance

A

Employee performance

61
Q

Service companies must set realistic expectations about their services and deliver on promises
Word of mouth from other customers shapes expectations (not manageable by the organization)

A

Management of service expectations

62
Q

What are the 4 qualities that affect service quality?

A

Analysis of customer expectations, service quality specifications, employee performance, management of service expectations

63
Q

Marketing activities conducted to achieve some goal other than ordinary business goals such as profit market share, or return on investment
Two categories: nonprofit organization marketing, social marketing

A

Nonprofit marketing

64
Q

A collective of individuals who have an interest in or concern about an organization, product, or social cause

A

Target public

65
Q

Direct consumers of a product of a nonprofit organization

A

Client public’s

66
Q

Indirect consumers of a product of a nonprofit organization

A

General publics

Marketing 300 uky (11 decks)

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