Business 10 CH 14

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Author:
Asianrice
ID:
9024
Filename:
Business 10 CH 14
Updated:
2010-03-03 20:03:58
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BUS 10
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Description:
Chapter 14, Bus 10
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  1. VALUES
    GOOD QUALITY AT A FAIR PRICE.
  2. PRODUCT LINES
    A GROUP OF PRODUCTS THAT ARE PHYSICALLY SIMILAR OR ARE INTENDED FOR A SIMILIAR MARKET
  3. PRODUCT MIX
    THE CIMBINATION OF PRODUCT LINES OFFERED BY A MANUFACTURER
  4. PRODUCT DIFFERENTIATION
    THE CREATION OF REAL OR PERCEIVED PRODUCT DIFFERENCES
  5. CONVIENCE GOODS AND SERVICES
    PRODUCTS THAT THE CONSUMER WANTS TO PURCHASE FREQUENTLY AND WITH A MINIMUM OF EFFORT
  6. SHOPPING GOODS AND SERVICES
    THOSE PRODUCTS THAT THE CONSUMER BUYS ONLY AFTER COMPARING VALUE, QUALITY, PRICE, AND STYLE FROM A VARIETY OF SELLERS
  7. SPECIALTY GOODS AND SERVICES
    CONSUMER PRODUCTS WITH UNIQUE CHARACTERISTICS AND BRAND IDENTITY; CONSUMER PUT FORTH A SPECIAL EFFORT TO PURCHASE THEM
  8. UNSOUGHT GOODS AND SERVICES
    PRODUCTS THAT CONSUMERS ARE UNAWARE OF, HAVENT THOUGHT OF BUYING OR FIND THAT THEY NEED TO SOLVE AN UNEXPECTED PROBLEM
  9. INDUSTRIAL GOODS
    PRODUCTS USED IN THE PRODUCTION OF OTHER PRODUCTS
  10. ACCESSORY EQUIPMENT
    CAPITAL ITEM THAT ARE NOT QUIE AS LONG LASTING. EX: COMPUTERS, PRINTER
  11. TRADEMARK
    A BRAND THAT HAS BEEN GIVEN EXLUSIVE LEGAL PROTECTION FOR BOTH THE BRAND NAME AND THE PICTORIAL DESIGN
  12. MANUFACTURERS' BRAND NAMES
    THE BRAND NAMES OF MANUFACTURERS THAT DISTRIBUTE PRODUCTS NATIONALLY
  13. DEALERS (PRIVATE-LABEL) BRANDS
    PRODUCTS THAT DON'T CARRY THE MANUFACTURER'S NAME BUT CARRY A DISTRIBUTOR OR RETAILER'S NAME INSTEAD
  14. GENERIC GOOD
    NONBRANDED PRODUCTS THAT USUALLY SELL AT A SIZABLE DISCOUNT COMPARED TO NATIONAL OR PRIVATE LABEL BRANDS.
  15. KNOCKOFF BRANDS
    ILLEGAL COPIES OF NATIONAL BRAND-NAME GOODS
  16. BRAND EQUITY
    THE COMBINATION OF FACTORS- SUCH AS AWARENESS, LOTALTY, QUALITY, IMAGES, AND EMOTIONS- THAT PEOPLE ASSOCIATE WITH A GIVEN BRAND NAME
  17. BRAND LOYALTY
    THE DEGREE TO WHICH CUSTOMERS ARE SATISFIED, LIKE THE BRAND, AND ARE COMMUTTED TO FURTHER PURCHASE
  18. BRAND AWARENESS
    HOW QUICKLY OR EASILY A GIVEN BRAND NAME COMES TO MIND WHEN A PRODUCT CATEGORY IS MENTIONED.
  19. BRAND ASSOCIATION
    THE LINKING OF A BRAND TO OTHER FAVORABLE IMAGES
  20. BRAND MANAGER
    A MANAGER WHO HAS DIECT RESPONSIBILITY FOR ONE BRAND OR ONE PRODUCT LINE
  21. PRODUCT SCREENING
    A PROCESS DESIGNED TO REDUCE THE NUMBER OF NEW-PRODUCT IDEAS BEING WORKED ON AT ANY ONE TIME
  22. PRODUCT ANALYSIS
    MAKING COST ESTIMATES AND SALES FORECASTS TO GET A FEELING FOR PROFITABILITY OF NEW-PRODUCT IDEAS
  23. CONCEPT TESTING
    TAKING A PRODUCT IDEA TO CONSUMERS TO TEST THEIR REACTIONS
  24. COMMERCIALIZATION
    PROMOTING A PRODUCT TO DISTRIBUTORS AND REAILTERS TO GET WIDE DISTRIBUTION, AND DEVELOPING STRONG ADVERTISING AND SALES CAMPAIGNS TO GENERATE AND MAINTAN INTEREST IN THE PRODUCT AMONG DISTRIBUTORS AND CONSUMERS
  25. PRODUCT LIFE CYCLE
    A THEORETICAL MODEL OF WHAT HAPPENS TO SALES AND PRODITS FOR A PRODUCT CLASS OVER TIME
  26. TARGET COSTING
    DESIGNING A PRODUCT SO THAT IT SATISFIES CUSTOMERS AND MEETS THE PROFIT MARGINS DESIRED BY THE FIRM
  27. COMPETITION- BASE PRICING
    A PRICING STRATEGY BASED ON WHAT ALL THE OTHER COMPETITORS ARE DOING.
  28. PRICE LEADERSHIP
    THE PROCEDURE BY WHICH ONE OR MORE DOMINANT FIRMS SET THE PRICING PRACTICES THAT ALL COMPETITORS ARE AN INDUSTRY FOLLOW
  29. BREAK-EVEN ANALYSIS
    THE PROCESS USED TO DETERMIND PROFITABILITY AT VARIOUS LEVELS OF SALES
  30. TOTAL FIX COSTS
    ALL THE EXPENSES THAT REMAIN THE SAME NO MATTER HOW MANY PRODUCTS ARE MADE OR SOLD
  31. VARIABLE COST
    COSTS THAT CHANGE ACCORDING TO THE LEVEL OF PRODUCTION
  32. SKIMMING PRICE STRATEGY
    STRATEGY IN WHICH NEW PRODUCT IS PRICED HIGH TO MAKE OPTIMUM PROFIT WHILE THERE'S LITTLE COMPETITION
  33. PENETRATION STRATEGY
    STRATEGY IN WHICH A PRODUCT IS PRICED LOW TO ATTRACK MANY CUSTOMERS AND DISCOURAGE COMPETITION
  34. EVERYDAY LOW PRICING (EDLP)
    SETTING PRICES LOWER THAN COMPETITORS AND THEN NOT HAVING ANY SPECIAL SALES
  35. HIGH-LOW PRICING STRATEGY
    SETTING PRICES THAT ARE HIGHER THEN EDLP STORES, BUT HAVING MANY SPECIAL SALES WHERE THE PRICES ARE LOWER THEN COMPETITORS
  36. BUNDLING
    GROUPING TWO OR MORE PRODUCTS TOGETHER AND PRICING THEM AS A UNIT
  37. PSYCHOLOGICAL PRICING
    PRICING GOODS AND SERVICES AT PRICE POINTS THAT MAKE THE PRODUCT APPEAR LESS EXPENSIVE THAN IT IS

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