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product management > terms only > Flashcards

terms only Flashcards

1
Q

is anything that is offered to a market for attention, acquisition, use, or consumption, and that satisfy a want or a need.

A

Product

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2
Q

It includes physical objects, services, persons, places, organizations, and ideas, or mix of these entities

A

product

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3
Q

: is a form of product that consist of activities, benefits, or satisfaction offered for sale that are essentially intangible and do not result in the ownership of anything

A

services

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4
Q

consist of physical items
that can be touched and seen.

A

Pure tangible goods

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5
Q

The major offering are goods and gives services such as an automobile that offers accompanying repair services.

A

tangible goods with accompanying services

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6
Q

It consist of equal parts of good and services such as restaurant.

A

hybrid offers

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7
Q

Major offerings are services but gives minor goods such as airline trips with accompanying snacks

A

services with accompanying minor goods

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8
Q

t consist of efforts from the service provider such as those offered by doctors, teachers, and ophthalmologists

A

pure services

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9
Q

: Represent what buying the product or service will do for the customer.

A

customer experiences

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10
Q

These are memorable while some products and services are not.

A

customer experiences

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11
Q

problem-solving service, or core benefit
that consumers are really buying when they obtain a product or service.

A

core product

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12
Q

: This may have as many as five characteristics that are combined to deliver core product benefits.

A

actual product

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13
Q

It includes any additional consumer services and benefits built around the core and actual products.

A

augmented product

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14
Q

are those bought by individuals and organizations for further processing or for use in conducting a business

A

industrial products

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15
Q

are those bought by final consumer for personal consumption

A

consumer products

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16
Q

are consumer products and services that the consumer usually buys frequently, immediately, and with a minimum of comparison and buying
effort.

A

convenience products

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17
Q

are consumer products that the consumer, in the process of selection and purchase, characteristically compares on such bases as sustainability, quality, price and style

A

shopping products

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18
Q

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

A

specialty products

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19
Q

are consumer products that the consumer either does not know about or knows about but does not normally think of buying.

A

Unsought products

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20
Q

Most are sold directly to industrial users. These includes smaller parts which will be assembled in the production area

A

material & parts

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21
Q

These products aid in the buyers’ production or operations, including machines, installations and accessory equipment

A

capital items

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22
Q

These could be operational or repair and maintenance. Many of these services are supplied under contract.

A

supplies and services

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23
Q

it is the ability of a product to perform its functions

A

product quality

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24
Q

are a competitive tool for differentiating the company’s product from competitors’ products.

A

product features

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25
Q

: It is the process of designing a product’s style and function.

A

Product style & design

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26
Q

is the element of a brand that can be vocalized

A

Brand Name

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27
Q

is the element of a brand that cannot be vocalized

A

brand mark

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28
Q

(letter marks) : consist of letters,
usually brand initials.

A

monograms

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29
Q

(logotypes) : font-basd that
focuses on business name

A

wordmarks

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30
Q

icon or graphic-based logo

A

pictorial marks

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31
Q

geometric form instead of being a recognizable image

A

abstract logo marks

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32
Q

Logos that involve illustrated character

A

mascots

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33
Q

combined wordmark/lettermarks and a pictorial mark/abstract mark/masco

A

combination mark

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34
Q

consists of font inside a symbol or an
icon

A

emblem

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35
Q

It is the value of a brand, based on the extent to which it has high brand loyalty, name awareness, perceived
quality, strong brand associations and other assets such as patents, trademarks and channel relations.

A

brand equity

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36
Q

it is the main container of the product.

A

primary package

37
Q

it supports the primary container

A

secondary package

38
Q

It is also part of packaging and consists of printed information appearing on or with the package.

A

labelling

39
Q

: which cannot be seen, tasted, felt, heard, or smelled before they are bought.

A

intangibility

40
Q

: The strategy for making the service offering more tangible is to try to draw the buyer’s attention to tangible
features like place, people, price, equipment or communications that they see.

A

intangibility

41
Q

: which are produced and consumed at the same time and cannot be separated from their providers, whether the providers are people or machines.

A

inseperability

42
Q

: Both the provider and the consumer affect the service
outcome

A

inseperability

43
Q

a. Provider-customer interaction

A

inseperability

44
Q

whose quality may vary greatly depending on who provides them and when, where, and how.

A

variability

45
Q

: which cannot be stored for later sale or use. Service perishability is not a problem when demand is steady

A

perishability

46
Q

It is, however, when demand fluctuates.

A

perishability

47
Q

Since the customer and the service provider interact to provide the service, the interaction must be controlled
and constantly improved.

A

MARKETING STRATEGIES FOR SERVICES FIRMS

48
Q

Successful service companies focus their attention on
both their customer and their employees.

A

MARKETING STRATEGIES FOR SERVICES FIRMS

49
Q

It is a marketing by a service firm to train and effectively motivate its customer-contact employees and all the
supporting service people to work as a team to provide customer satisfaction.

A

internal marketing

50
Q

For the firm to deliver consistently high service quality, marketers must get everyone in the organization to
practice a customer orientation.

A

internal marketing

51
Q

_________ _________ must precede external marketing.

A

internal marketing

52
Q

It is marketing by a service firm that recognizes that perceived service quality depends heavily on the quality
of buyer-seller interaction.

A

interactive marketing

53
Q

The marketer cannot assume that they will satisfy the customer simply by providing good technical service.

A

interactive marketing

54
Q

This can occur by differentiating the offer, the delivery, and their Images.

A

competitive differentiation

55
Q

By consistently delivering higher quality than the competition, the firm can make progress in customer retention.

A

service quality

56
Q

Increase productivity by training employees better.

A

Service Productivity

57
Q

Work on quality as well as quantity of service. Use technology to help.

A

Service Productivity

58
Q

Firms must watch pushing productivity at the expense of service quality.

A

Service Productivity

59
Q

buying a whole company, a patent, or a license to produce another company’s Product

A

Acquisition

60
Q

firm’s ____________ development efforts which can take four forms:

A

own new product

61
Q

A systematic search for new product ideas

A

idea generation

62
Q

Typically, a company generates a hundreds of ideas to find a handful of good ones in the end

A

idea generation

63
Q

Means nothing else than filtering the ideas to pick out good ones.

A

idea screening

64
Q

All ideas generated are screened to spot good ones and drop poor ones as soon as possible

A

idea screening

65
Q

attractive ideas must be developed into a product concept.

A

CONCEPT DEVELOPMENT TESTING

66
Q

A product concept is a detailed version of a new product idea

A

CONCEPT DEVELOPMENT TESTING

67
Q

an idea for a possible product

A

product idea

68
Q

a detailed version of the idea stated in meaningful consumer terms

A

product concept

69
Q

the way consumers perceive an
actual or potential product

A

product image

70
Q

Kang-kong Chips is example of __

A

product idea

71
Q

“fresh kang-kong leaves covered with secret ingredients deep fried to perfection
is example of _______

A

concept

72
Q

a wonderful and healthy vegetable snacks for all ages
is example of _______-

A

image

73
Q

involves developing product ideas into some alternative product concept, finding out how attractive each concept
is to consumers, and choosing the best one

A

concept development testing

74
Q

involves testing the concepts with a group of target consumers to find out if the concepts have strong consumer appeal.

A

consept testing

75
Q

may be presented either symbolically or
physically.
: includes actual tasting (if food) and trial of product (if non-food) to increase the reliability of the test.

A

concept testing

76
Q

Meeting psychology need

A

Core product

77
Q

Meeting actual consumer need

A

Actual oroduct

78
Q

It gives additional benefits

A

Augmented produc

79
Q

Product warranty

Is examples of

A

Augmented product

80
Q

Installation. The companies have some technicians in their staff who can install or configure a product for free, for example, a washing machine or a TV set.

Is examples of

A

augmented product

81
Q

Free delivery. …

Refund. …

Updates. …

Product trials. …

Free samples.

Is examples of what

A

Augmented product

82
Q

The essential motivational benefit the customer is purchasing. It’s what the customer wants to get most

A

Core product

83
Q

The physical and intangible properties or characteristics the product takes on this include materials,styling and branding it’s what the customer actually gets to satisfy the desire for the motivational benefits

A

Actual product

84
Q

These are extra attributes features that are not part of the actual product but maybe offered to make the offering more attractive. To speed purchase decisions, and to match or differentiate the actual product form the competition

A

Augmented product

85
Q

encompasses the overall structure, functionality, and usability of a product. It involves the technical aspects of creating a product, such as engineering, ergonomics, and material selection. ______ focuses on how the product works and how users interact with it.

A

Design /products design

86
Q

refers to the aesthetic elements of a product, including its appearance, form, colors, and visual details. It’s about the overall look and feel of the product and how it appeals to consumers’ senses and emotions. __________ contributes to the product’s identity and brand image.

A

Style/products style

87
Q

refers to the standard or level of excellence of a product, determined by factors such as durability, reliability, performance, and meeting customer expectations. It’s essentially how well a product satisfies its intended purpose and meets the needs of consumers.

A

Product quality

88
Q

are the characteristics or attributes of a product that define its functionality, appearance, and performance. These ___________ are what distinguish one product from another and can include things like size, color, design, technology, capabilities, and additional functions or options.

A

Product features

product management (4 decks)

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