Marketing Exam 2.csv

Anything tha can be offered to a market for attention; acquistion; use; or consumption that might satisfy a want or a need.

A form of product that consists of activities; benefits; or satisfactions offereed for sale that are essentially intangible and do not result in the ownership of anything.

What are the two main classifications of products?

Name 4 types of consumer products?

Name 3 types of industrial products?

Less frequently purchased products and services that customers compare carefully on suitability; quality; price; and style.

Products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

Products that aid in the buyer's production or operations; including installations and accessory equipment.

What are product attributes?

Creating customer value and satisfaction

Product quality has two dimensions. What are they?

A competitive tool for differentiating the company's product from competitors' products.

What is another way to add customer value?

A name; term; sign; symbol; or design; or a combination of these; that identifies the maker or seller of a product or service.

Name 3 things that a label functions to do?

What 3 things has affected labeling in recent times?

A group of products that are closely related because they function in a similare manner; are sold to the same customer groups; are marketed through the same types of outlets; or fall within given price ranges.

Consists of all the product lines and items that a particular seller offers for sale.

What are the 7 steps of the new product development process?

What are two sources of idea generation?

Name some sources of external idea generation

The course that a product's slaes and profits take over its lifetime

What are the steps of the product life cycle?

Stage of PLC where sales are zero and investiment funds are high?

Stage of PLC where sales are slow and profits are nonexistant?

Stage of rapid market acceptance

Stage of PLC characterized by slowdown in sales because the product has achieve market acceptance.

Stage of PLC where profits level off due to increased market outlays to defent the product against competition.

The amount of money charged for a product or service

The sum of all the values that customers give up in order to gain the benefits of having or using a product or service

Buyers perceptions of value not the sellers cost as the key to pricing

Charging a constant everday low price with few or no temporary price discounts

Setting prices based on the costs for producting distributing and selling the product plus a fair rate of return for its effort and risk

Overhead

Costs that do not vary with production or sales level

Vary directly with the level of production.

What is the term used to describe when a new product enters the market and the seller prices the product high.

Setting the price low initially in order to gain entry into a market.

Large number of buyers; large market share; low pricing

What is the term used to describe the upstream and downstream partners

A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.

Name several ways that the marketing channel adds value for its partners

Firms that have partnered for their common good.

Disagreements over goals; roles and rewards

conflicts among firms at the same level

conflicts among firms at different levels

Producers; wholesalers; and retailers acting as a unified system. One channel member owns the others; has contracts with them; or wields so much power that they must all cooperate.