Chapter 7 Vocabulary Flashcards

1
Q

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

A

Product

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2
Q

An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything

A

Service

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3
Q

A product bought by final consumers for personal consumption

A

Consumer product

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4
Q

A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort

A

Convenience product

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5
Q

A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price and style

A

Shopping product

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6
Q

A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

A

Specialty product

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7
Q

A consumer product that the consumer either does not know about or knows about but does not normally consider buying

A

Unsought product

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8
Q

A product bought by individuals and organizations for further processing or for use in conducting a business

A

Industrial product

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9
Q

Using traditional business marketing concepts and tools to create behaviors that will create individual and societal well-being

A

Social marketing

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10
Q

Individual product decisions

A
Product attributes 
Branding
Packaging
Labeling
Product support services
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11
Q

The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs

A

Product quality

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12
Q

A name, term, sign, symbol, or design or a combination of these that identifies the products or services of one seller or a group of sellers and differentiates them from those of competitors

A

Brand

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13
Q

The activities of designing and producing the container or wrapper for a product

A

Packaging

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14
Q

A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges

A

Product line

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15
Q

The number of items in the product line

A

Product line length

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16
Q

Adding more items within the present range of the line

A

Product line filling

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17
Q

When a company lengthens it’s product line beyond its current range

A

Product line stretching

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18
Q

The set of all product lines and items that a particular seller offers for sale

A

Product mix (or product portfolio)

19
Q

The number of different product lines the company carries

A

Product mix width

20
Q

The total number of items a company carries within its product lines

A

Product mix length

21
Q

The number of versions offered for each product in the line

A

Product mix depth

22
Q

How closely related the various product lines are in end use, production requirements, distribution channels or some other aspect

A

Consistency

23
Q

Services cannot be seen, tasted, felt, heard, or smelled before they are bought

A

Service intangibility

24
Q

Four type of services

A

Intangibility
Variability
Inseparability
Perishability

25
Services are produced and consumed at the same time and cannot be separated from their providers
Service inseparability
26
The quality of service may vary greatly depending on who provides them and when, where and how they are provided
Service variability
27
Services cannot be stored for later sale or use
Service perishability
28
Orienting and motivating customer contact employees and supporting service employees to work as a team to provide customer satisfaction
Internal marketing
29
Training service employees in the fine art of interacting with customers to satisfy their needs
Interactive marketing
30
Three major marketing tasks faced by service companies
Service differentiation Service quality Service productivity
31
The differential effect that knowing the brand name has on a customer response to the product and it’s marketing
Brand equity
32
The total financial value of the brand
Brand value
33
Major brand strategy decisions
Brand positioning Brand name selection Brand sponsorship Brand development
34
Attributes Benefits Beliefs and values
Brand positioning
35
Selection | Protection
Brand name selection
36
Manufacturers brand Private brand Licensing Co-branding
Brand sponsorship
37
Line extensions Brand extensions Multi-brands New brands
Brand development
38
A brand created and owned by a reseller of a product or service
Store brand (or private brand)
39
The practice of using the established brand names of two different companies on the same product
Co-branding
40
Four choices when it comes to brand development
Line extensions Brand extensions Multi brands New brands
41
Existing product category and existing brand name: Extending an existing brand name to new forms, colors, sizes, ingredients or flavors of an existing product category
Line extension
42
New product category and existing brand name: Extending an existing brand name to new product categories
Brand extension
43
Existing product category and new brand name
Multi brands
44
New product category and new brand name
New brands