Marketing Chapter Eight

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Marketing Chapter Eight
2010-04-25 12:05:47
Marketing Chapter Eight

Marketing Chapter Eight
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  1. Product?
    Referes to the need-satisfying offering of a firm.
  2. Quality?
    Refers to a product's ability to satisfy a customer's meeds or requirements.
  3. Service?
    A deed performed by one party for another. A non-physical thing.
  4. Product Assortment?
    The set of all product lines and individual products that a firm sells.
  5. Product Line?
    A set of all individual products that are closely related.
  6. Individual Product?
    A particular product within a product line.
  7. Consumer Products?
    Products meant for the final consumer.
  8. Business Products?
    Products meant for use in producing other products.
  9. Derived Demand?
    The demand for business products from the demand for final consumer products.
  10. Convenience Products?
    Products a cosumer needs but isn't willing to spend much time or effort shopping for.
  11. Staples?
    Products that are bought often, routinely, without much thought.
  12. Impulse Products?
    Products that are brough quickly- as unplanned purchases- because of strongly felt need.
  13. Emergency Products?
    Products that are purchased immediately when the need is great.
  14. Shopping Products?
    Products that a consumer feels are worth the time and effort to compare with competing products.
  15. Homogeneous Shopping Products?
    Shopping products the consumer sees as basically the same and wants at the lowest price.
  16. Heterogeneous Shopping Products?
    Shopping products that consumer sees as different and wants to inspect for quality and suitability.
  17. Specialty Products?
    Consumer products that the customer really wants and makes a special effort to find.
  18. Unsought Products?
    Products that potential customers don't yet want or know they can buy.
  19. New Unsought Products?
    Products offering really new ideas that potential customers don't know about yet.
  20. Regularly Unsought Products?
    Products- like gravestones, life imsurance, and encylopedias- that stay unsought and not unbought forever.
  21. Installations?
    Buildings, Land Rights, and Major Equipment.
  22. Capital Item?
    A long-lasting product that can be used and depreciated over many years.
  23. Accesories?
    Short-lived capital items- tools and equipment used inproduction or office activities.
  24. Raw Materials?
    Unprocessed goods, such as logs or iron ore or wheat that are used to get to the next poduction level.
  25. Expense Item?
    A product whose total cost is treated as a business expense in the year its purchased.
  26. Farm Products?
    products grown by farmers.
  27. Natural Products?
    Products that occur in nature.
  28. Components?
    Processed expense items that become part of a finished product.
  29. Supplies?
    Expense items, such maintenence or reapir or opertaion supplies that do not become part of a finished product.
  30. Professional Services?
    Specialized services that support a firm's operations.
  31. Branding?
    Means the use of a name, term, symbol, or design- or a combinationto identify a product.
  32. Trademark?
    Includes only those words, symbols, or marks or letters.
  33. Service Mark?
    The same as a trademark except reffering to a service market.
  34. Brand Familiarity?
    Means how well customers recognize and accept a company's brand.
  35. Brand Rejection?
    Potential customers won't buy a brand unlessits image is changed.
  36. Brand nonrecognition?
    Customers don't recognize brand even though the brand may be heavily used by intermediaries.
  37. Brand recognition?
    Customers remember the brand very well.
  38. Brand preference?
    The target customers usually choose a particular brand over other brands, perhaps because of habit or favorable past.
  39. Brand insistence?
    Customers insist on a firm's branded product and are willing to search for it.
  40. Brand Equity?
    The value of a brand's overall strength in a market.
  41. Lanham Act?
    Spells out what kind of marks can be protected and the exact method of protecting them.
  42. Family Brand?
    The same brand name for several products- or individual brands for each product.
  43. Liscenced Brand?
    A well-known brand that sellers pay a fee to use.
  44. Individual Brands?
    Separate brand names for each product.
  45. Generic products?
    Products tht have no brand at all other than identification of their contents and the manufacturer or middleman.
  46. Manufacturer Brands?
    Brands created by producers and are promoted usually nationwide.
  47. Dealer Brands?
    Private Brands, which are brands created by middlemen.
  48. Battle of the Brands?
    The competition between dealer brands and manufacturer brands, is just a question of whose brandswill be more popular and who will be in control.
  49. Packaging?
    Involves promoting, protecting, and enhancing the product.
  50. Federal Fair Packaging and Labeling Act?
    Requires that consumer goods be clearly labeled in easy-to-understand terms to give consumers more information.
  51. Warranty?
    Explains what the seller promises about its product.
  52. Magnuson-Moss Act?
    Products must provide a clearly written warranty if they choose to offer any warranty.