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International Marketing > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

Product

A

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

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2
Q

Services

A

Activities, benefits, or satisfaction offered for sale that is essentially intangible and does not results in the ownership of anything

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3
Q

What are the 3 levels that product planners need to think about products and services

A

The core customer value, what is the buyer really buying?

Actual product

Augmented product

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4
Q

What are the 2 broad classes based on the types of consumer who use them?

A

Consumer product

Industrial product

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5
Q

Consumer product

A

A product bought by final consumer for personal consumption

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6
Q

What do consumer products include?

A

Convenience product

Shopping product

Speciality product

Unsought product

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7
Q

Convenience product

A

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

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8
Q

Shopping product

A

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

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9
Q

Specialty product

A

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

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10
Q

Unsought product

A

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

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11
Q

Industrial product

A

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

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12
Q

What are the types of industrial products?

A

Material part

Capital items

Supplies and services

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13
Q

Material part

A

Include raw materials as well as manufactured materials and parts

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14
Q

Capital items

A

Industrial products that aid in the buyer’s production or operations, including installations and accessory equipment

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15
Q

Supplies and services

A

Where supplies include operating supplies and repair and maintenance items, and services include maintenance and repair services and business advisory services

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16
Q

Organisational marketing

A

Consists of activities undertaken to create, maintain, or change the attitudes and behaviour of target consumer toward an organisation

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17
Q

Corporate image marketing

A

Campaigns to market themselves and polish companies’ images

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18
Q

Person marketing

A

Consists of activities undertaken to create, maintain, or change attitudes or behaviour toward particular people

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19
Q

Place marketing

A

Involves activities undertaken to create, maintain, or change attitudes or behaviour toward particular places

20
Q

Idea marketing

A

Involves the marketing of an idea

21
Q

Social idea marketing

A

Consists of using traditional business marketing concepts and tools to encourage behaviours that will create individual and societal well being

22
Q

What are the 3 levels that marketers make product and service decisions?

A

Individual product decisions

Products ten decisions

Product mix decisions

23
Q

What are the important decisions in the development and marketing of and individual product decision?

A

Attributes of the product (quality, features, design)

Branding

Packaging

Labeling and logos

Product support services

24
Q

Product line length

A

The number of items in the product line

25
Q

How can a company expand its product line?

A

By line filling

Product line stretching

26
Q

Line filling

A

Involves adding more items within the present range of the line

27
Q

Product line stretching

A

Occurs when a company lengthens its product line beyond its current range

28
Q

Product line

A

A group of products that are closely related because they function in a similar manner

Sold to the same customer groups

Marketed through the same types of outlets

Fall within given price ranges

29
Q

What do companies with several product lines have?

A

A production mix

30
Q

What are the 4 dimensions of the product mix?

A

Width

Length

Depth

Consistency

31
Q

A company must consider 4 special service characteristics when designing marketing programs. What are they?

A

Service intangibility

Service inseparability

Service variability

Service perishability

32
Q

Service intangibility

A

Entails that services cannot be seen, tasted, felt, heard, or smelled, before they are bought

33
Q

Service inseparability

A

Means that services are produced and consumer at the same time and cannot be separated from their providers

34
Q

Service variability

A

Entails that the quality of services may vary greatly depending on who provides them and when, where, and how they are provided

35
Q

Service perishability

A

Means services cannot be stored for later sale or use

36
Q

Service profit chain

A

The chain that links service firm profits with employee and customer satisfaction

37
Q

What are the five links that consist in service profit chain

A

Internal service quality

Satisfied and productive service employees

Greater service value

Satisfied and loyal customers

Healthy service profits and growth

38
Q

What does service marketing also include?

A

Internal marketing

Interactive marketing

39
Q

Internal marketing

A

Involves orienting and motivating customer contact employees and supporting service employees to work as a team to provide customer satisfaction

40
Q

Interactive marketing

A

Involves training service employees in the fine art of interacting with customers to satisfy their needs

41
Q

What are the 3 marketing tasks that service companies face?

A

Managing service differentiation

Managing service quality

Managing service productivity

42
Q

Brand equity

A

The differential effect that knowing the brand name has on customer response to the product or its marketing

43
Q

Brand strength is measured along 4 consumer perception dimensions. What are they?

A

Differentiation

Relevance

Knowledge

Esteem

44
Q

Brand value

A

The total financial value of a brand

45
Q

What are the major brand strategy decisions involve:

A

Brand positioning

Brand name selection

Brand sponsorship

Brand development

International Marketing (13 decks)

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