Chapter 8 Flashcards
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy
a want or need.
product
An activity, benefit, or satisfaction offered for sale that is essentially intangible
and does not result in the ownership
of anything.
service
A product bought by final consumers for personal consumption.
consumer product
A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
convenience product
A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style.
shopping product
A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
specialty product
A consumer product that the consumer either does not know about or knows about but does not normally consider buying.
unsought product
A product bought by individuals and organizations for further processing or for use in conducting a business.
industrial product
The use of traditional business marketing concepts and tools to encourage behaviors that will create individual and societal well-being.
social marketing
The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
product quality
A name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
brand
The activities of designing and producing the container or wrapper for a product.
packaging
The activities of designing and producing the container or wrapper for a product.
Product line
The set of all product lines and items that a particular seller offers for sale.
Product mix (or product portfolio)
Services cannot be seen, tasted, felt, heard, or smelled before they are bought.
Service intangibility
Services are produced and consumed at the same time and cannot be separated from their providers.
Service inseparability
The quality of services may vary greatly depending on who provides them and when, where, and how they are provided.
Service variability
Services cannot be stored for later sale or use.
Service perishability
the chain that links service firm profits with employee and customer satisfaction.
service profit chain
Orienting and motivating customer- contact employees and supporting service employees to work as a team to provide customer satisfaction.
Internal marketing
Training service employees in the fine art of interacting with customers to satisfy their needs.
interactive marketing
The differential effect that knowing the brand name has on customer response to the product or its marketing.
brand equity
The total financial value of a brand.B
brand value
A brand created and owned by a reseller of a product or service.
Store brand (or private brand)
The practice of using the established brand names of two different companies on the same product.
Co-branding
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
line extension
Extending an existing brand name to new product categories.
brand extension
