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Marketing Management > Chapter 7 > Flashcards

Chapter 7 Flashcards

1
Q

Product Characteristics

A
  1. Define the Product
  2. Essential Benefit
  3. Core Product
  4. Enhanced Product
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2
Q

The fundamental need met by the product

A

Essential Benefit

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3
Q

Product Classifications

A
  1. Tangibility
  2. Durability
  3. Consumer Goods
  4. Business Goods
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4
Q

Physical aspects of the product experience

A

Tangibility

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5
Q

The length of product uses; the projected lifetime of the product under specific operating conditions

A

Durability

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6
Q

Product Discrimination

A
  1. Form
  2. Features
  3. Performance Quality
  4. Conformance Quality
  5. Durability
  6. Reliability
  7. Repairability
  8. Style
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7
Q

Size, shape, color, and other physical elements of a product

A

Form

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8
Q

Any product attribute or performance characteristic and is often added or subtracted from a product to differentiate it from competitors

A

Features

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9
Q

The product’s ability to deliver on features and performance characteristics promised in marketing communications

A

Conformance Quality

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10
Q

The percentage of time the product works without failure or stoppage

A

Reliability

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11
Q

The ease of fixing a problem with the product

A

Repairability

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12
Q

Look and feel of the product

A

Style

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13
Q

Product Life Cycle

A
  1. Introduction
  2. Growth
  3. Maturity
  4. Decline
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14
Q

New Product Development Process

A
  1. Identify Product Opportunities
  2. Define the Product Opportunity
  3. Develop the Product Opportunity
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15
Q

Adopter Categories

A
  1. Innovators
  2. Early Adopters
  3. Early Majority
  4. Late Majority
  5. Laggards
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16
Q

Product enthusiasts that enjoy being the first to try and master a new product

A

Innovators

17
Q

Product opinion leaders seek out new products consistent with their personal self-image

A

Early Adopters

18
Q

Product watchers want to be convinced of the product ‘s claims and value proposition before making a commitment

A

Early Majority

19
Q

Product followers are price-sensitive and risk-averse

A

Late Majority

20
Q

Product avoiders want to evade adoption as long as possible

A

Laggards

Marketing Management (13 decks)

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