Chapter 8 terms
Marketing 300 with Lim at University of Wisconsin - Madison
About this deck
By: Nikki Kaasa
Textbook:
Principles of Marketing (13th Edition)
Created: 2011-10-19
Size: 22 flashcards
Views: 26
Textbook:
Principles of Marketing (13th Edition)Created: 2011-10-19
Size: 22 flashcards
Views: 26
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Product
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
Service
Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything
Consumer product
A product bought by final consumer for personal consumption
Convenience product
A consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort
Shopping product
A consumer product that the customer, in the process of selection and purchase, usually compares on such bases as suitability, quality, price, and style
Specialty 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
Unsought product
A consumer product that the consumer either does not know about or knows about but does not normally think of buying
Industrial product
A product bought by individuals and organizations for further processing or for use in conducting a business
Product Quality
The characteristics or service that bear on its ability to satisfy stated or implied customer needs
Performance Quality
The ability of a product to perform its functions
Conformance quality
Freedom from defects and consistency in delivering a targeted level of performance
Brand
A name, term, sign, symbol, 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
Product line
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
product line length
The number of items in the product line
Line filling
Adding more items within the present range of the line
Line stretching
Occurs when a company lengthens its product line beyond its current range. The company can stretch its line downward, upward, or both ways.
Product mix (portfolio)
The set of all product lines and items that a particular seller offers for sale
Brand equity
The differential effect that knowing the brand name has on customer response to the product or its marketing
Store brand (private brand)
A brand created and owned by a reseller of a product or service
Co-branding
The practice of using the established brand names of two different companies on the same product
Line extension
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category
Brand extension
Extending an existing brand name to new product categories
About this deck
By: Nikki Kaasa
Textbook: Principles of Marketing (13th Edition)
Created: 2011-10-19
Size: 22 flashcards
Views: 26
Textbook:
Principles of Marketing (13th Edition)Created: 2011-10-19
Size: 22 flashcards
Views: 26
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have used this website for three exams, and I see a huge difference in my test results.”
Naj
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