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AMA PCM - 4.2 > PCM Key Terms - 4.2 > Flashcards

PCM Key Terms - 4.2 Flashcards

2
Q

Accessory Equipment

A

Equipment that does not become part of the final physical product but is used in production or office activities

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3
Q

Assurance

A

Dimension of service quality relating to the knowledge/competence of employees and the ability to convey trust and confidence

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4
Q

Breadth of Product Mix

A

A count of the number of product lines offered by the firm

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5
Q

Business Services

A

Intangible products that many organizations use in their operations

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6
Q

Capacity Management

A

Integrating the service component of the marketing mix with efforts t influence the demand

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7
Q

Commercialization

A

The stage of the new-product process that positions and launches a new product in full-scale production and sales

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8
Q

Communications Gap

A

A type of service gap; refers to the difference between the actual service provided to customers and the service that the firm’s promotion program promises

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9
Q

Component Parts

A

Items that become part of the physical product and are neither finished items ready for assembly or items that need little processing before assembly

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10
Q

Concept Testing

A

Seeking a sample of potential buyers’ responses to a product idea

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11
Q

Consumer Products

A

Products purchased by the ultimate consumer

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12
Q

Continuous Innovation

A

Degree of “newness” that does not require consumers to learn new behaviors

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13
Q

Convenience Products

A

Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort

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14
Q

Credence Properties (Credence Qualities)

A

Attributes that customers may be unable to evaluate even after purchasing and consuming a service

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15
Q

Customer Contact

A

The level of interaction between provider and customer needed to deliver the service

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16
Q

Customer Contact Audit

A

A flowchart of the points of interaction between consumers and a service provider

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17
Q

Customer Experience Management (CEM)

A

The process of managing the entire customer experience within the firm

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18
Q

Delivery Gap

A

A type of service gap; the difference between the firms’ service standards and the actual service it provides

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19
Q

Demand-Based Pricing

A

Pricing based on the level of demand for the product

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20
Q

Depth of Product Line

A

The number of products within a product line

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21
Q

Discontinuous Innovation

A

Degree of “newness” that involves making the consumer learn entirely new consumption patterns in order to use the product

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22
Q

Divesting Approach

A

A company adopting this approach withdraws all marketing support from a product or Strategic Business Unit in the Decline Stage of the business cycle.

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23
Q

Durable Good

A

An item that usually lasts over many uses

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24
Q

Dynamically Continuous Innovation

A

Degree of “newness” that requires only minor changes in consumer behavior

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25
Q

Early Adopters

A

People who adopt new products early, choose new products carefully, and are viewed as “the people to check with” by later adopters

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26
Q

Early Majority

A

Individuals who adopt new products just prior to the average person

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27
Q

Empathy

A

Dimension of service quality relating to the caring and individual attention provided by employees

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28
Q

Experience Properties (Experience Qualities)

A

Attributes that can be assessed only during purchase and consumption of a service

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29
Q

Four I’s of Services

A

The four unique elements to services: intangibility, inconsistency, inseparability, and inventory

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30
Q

Idea Generation

A

The stage of the new-product process that develops a pool of concepts to serve as candidates for new products, building on the previous stage’s results

31
Q

Idle Production Capacity

A

When the service provider is available, but there is no demand for the service

32
Q

Inconsistency

A

The element of services relating to fact that they tend to vary with each person’s capabilities and day-to-day job performance

33
Q

Innovators

A

First adopters of new products

34
Q

Inseparability

A

The element of services relating to fact that, in most cases, the consumer cannot (and does not) separate the deliverer of the service form the service itself

35
Q

Installations

A

Facilities and nonportable major equipment

36
Q

Instrumental Support

A

Providing the equipment or systems necessary to perform a task in a job setting

37
Q

Intangibility

A

The element of services relating to the inability to hold, touch, or see them before the purchase decision

38
Q

Inventory

A

The element of services relating to the fact that inventory carrying costs are more subjective than with products, and are related to idle production capacity

39
Q

Inventory Cost of Service

A

The cost of paying the person used to provide the service along with any needed equipment

40
Q

Knowledge Gap

A

A type of service gap; reflects the difference between customers’ expectations and the firm’s perception of those expectations

41
Q

Laggards

A

The last adopters, who distrust new products

42
Q

Late Majority

A

Skeptics who adopt new products when they feel it is necessary

43
Q

Market Testing

A

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy

44
Q

New-Product Process

A

The process an organization goes through to identify business opportunities and convert them into saleable products or services

45
Q

Nondurable Good

A

An item that is consumed one or a few uses

46
Q

Peak Demand

A

The time at which a significant number of customers desire a service or product

47
Q

Process Materials

A

Materials that are used directly in the production of other products but are not readily identifiable

48
Q

Product Class

A

Refers to the entire product category or industry

49
Q

Product Life Cycle

A

Describes the product goes through in the marketplace: introduction, growth, maturity, and decline

50
Q

Product Line

A

a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a certain price range

51
Q

Product Mix

A

The composite, or total, group of products that an organization makes available to customers

52
Q

Psychological Barriers

A

Barriers to product adoption in the introduction stage because of cultural differences or image

53
Q

Raw Materials

A

Basic natural material that become part of a physical product

54
Q

Reliability

A

Dimension of service quality relating to the consistency and dependability in performing the service

55
Q

Responsiveness

A

Dimension of service quality relating to the willingness or readiness of employees to provide the service

56
Q

Risk Barriers

A

Barriers to product adoption in the introduction stage because of perceived physical, economic, or social risks

57
Q

Roll-Out

A

A product launch process wherein a product is introduced in stages, starting in one set of geographic areas and gradually expanding into adjacent areas

58
Q

Search Properties/Qualities

A

Tangible attributes that can be judged before the purchase of a product

59
Q

Service Continuum

A

The range of offerings companies bring to the market, from the tangible to the intangible or product-dominant to service-dominant

60
Q

Service Gap

A

Results when a service fails to meet the expectations that customers have about how it should be delivered

61
Q

Service Quality

A

Customers’ perception of how well a service meets or exceeds their expectations

62
Q

Shopping Products

A

Items for which buyers are willing to expend considerable effort in planning and making purchases

63
Q

Slotting Allowance (Slotting Fee)

A

The fee firms pay to retailers simply to get new products into stores or to gain more or better shelf pace for their products

64
Q

Specialty Products

A

Items with unique characteristics that buyers are willing to expend considerable effort to obtain

65
Q

Standards Gap

A

A type of service gap; pertains to the difference between the firm’s perceptions of customers’ expectations and the service standards it sets

66
Q

Support Products

A

Products (such as tools and repair services) that are used to assist in producing other goods and services

67
Q

Tangibles

A

Dimension of service quality relating to the physical evidence of the service

68
Q

Time to Market

A

Speed of introducing a new product

69
Q

Unsought Products

A

Products purchased to solve a sudden problem, products of which customers are unaware, and products that people do not necessary think of buying

70
Q

Usage Barriers

A

Barriers to product adoption in the introduction stage because the product is not compatible with the user’s existing habits

71
Q

Value Barriers

A

Barriers to product adoption in the introduction stage because the product provides the no incentive to change

72
Q

Zone of Tolerance

A

The area between consumers’ expectations regarding their desired level of service and the minimum level of acceptable service–that is, the difference between what the customer really wants and what he or she will accept before going elsewhere

AMA PCM - 4.2 (1 decks)

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