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Flashcards in Chapter 9 Deck (18)
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1
Q

Define Product, Services, and Experiences

A

product - anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want
services - are any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything
experiences - represent what buying the product or service will do for the customer

2
Q

what are convenience products

A

-consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort

3
Q

define shopping products

A

-consumer products and services that the customer compares carefully on suitability, quality, price, and style

4
Q

define specialty products

A

-consumer products and services with unique characteristics or brand indentification for which a significant group of buyers is willing to make a special purchase effort

5
Q

define unsought products

A

-consumer products that the consumer does not know about or knows about but does not normally think of buying

6
Q

define industrial products

A

-products purchased for further processing or for use in conducting a business

7
Q

define organization marketing

A

-consists of activities undertaken to create, maintain, or change attitudes and behaviour of target consumers toward an organization

8
Q

define person marketing

A

-consists of activities undertaken to create, maintain, or change attitudes and behaviour of target consumers toward particular people

9
Q

define place marketing and social marketing

A

place marketing - consists of activities undertaken to create, maintain, or change attitudes and behaviour of target consumers toward particular places
social marketing - the use of commercial marketing concepts and tools in programs designed to influence individuals behaviour to improve their well being and that of society

10
Q

define product line

A

-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

11
Q

define product mix

A

-consists of all the products and items that a particular seller offers for sale

12
Q

define brand

A

-represents the consumers perceptions and feeling about a product and its performance. It is the companys promise to deliver s specific set of features, benefits, services, and experiences consistently to the buyers

13
Q

Define licensing and co-branding

A

licensing - uses previously created names or symbols for a fee
co-branding - the practice of using the established brand name of two different companies on the same product

14
Q

define line extension, brand extension, multibrands, new brands

A

line extension - involves extending and existing brand name to new forms, colours, sizes, ingredients, or flavours of an existing product category
Brand extension - extending an existing brand name to new product categories
Multibrands - additional brands introduced in the same product category
New brands - brands created when entering a new product category for which none of the current brand name are appropriate

15
Q

define service-profit chain

A

-links service firm profits with employee and customer satisfaction

16
Q

define internal marketing

A

-the service firm must orient and motivate its customer contact employees and supporting service people to work as a team to provide customer satisfaction

17
Q

define interactive marketing

A

-service quality depends heavily on the quality of the buyer-seller interaction during the service encounter

18
Q

define managing service quality

A

-provides a competitive advantage by delivering consistently higher quality than its competitors