Chapter 12 - Dimensions of Marketing Strategy

Question 1

Test Marketing

Answer 1

a trial minilaunch of a product in limited areas that represent the potential market

Question 2

Commercialization

Answer 2

the full introduction of a complete marketing strategy and the launch of the product for commercial success

Question 3

Consumer Products

Answer 3

products intended for household or family use

Question 4

Business Products

Answer 4

products that are used directly or indirectly in the operation or manufacturing processes of business

Question 5

Product Line

Answer 5

a group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations

Question 6

Product Mix

Answer 6

all the products offered by an organization

Question 7

Branding

Answer 7

the process of naming and identifying products

Question 8

Trademark

Answer 8

a brand that is registered with the U.S. Patent and Trademark Office and is thus legally protected from use by any other firm

Question 9

Manufacturer Brands

Answer 9

brands initiated and owned by the manufacturer to identify products from the point of production to the point of purchase

Question 10

Private Distributor Brands

Answer 10

brands, which may cost less than manufacturer brands, that are owned and controlled by a wholesaler or retailer

Question 11

Generic Products

Answer 11

products with no brand name that often come in simple packages and carry only their generic name

Question 12

Packaging

Answer 12

the external container that holds ans describes the product

Question 13

Labeling

Answer 13

the presentation of important information on a package

Question 14

Quality

Answer 14

the degree to which a good, service, or idea meets the demands and requirements of customers

Question 15

Price Skimming

Answer 15

charging the highest possible price that buyers who want the product will pay

Question 16

Penetration Price

Answer 16

a low price designed to help a product enter the market and gain market share rapidly

Question 17

Psychological Pricing

Answer 17

encouraging purchases based on emotional rather than rational responses to the price

Question 18

Reference Price

Answer 18

a type of psychological pricing in which a lower-priced item is compared to a more expensive brand in hopes that the consumer will use the higher price as a comparison price

Question 19

Discounts

Answer 19

temporary price reductions, often employed to boost sales

Question 20

Marketing Channel

Answer 20

a group of organizations that moves products from their producer to customers; also called a channel of distribution

Question 21

Retailers

Answer 21

intermediaries who buy products from manufacturers (or other intermediaries) and sell them to consumers for home and household use rather than for resale or for use in producing other products

Question 22

Wholesalers

Answer 22

intermediaries who buy from producers or from other wholesalers and sell to retailers

Question 23

Intensive Distributiion

Answer 23

a form of market coverage whereby a product is made available in as many outlets as possible