Marketing Chapter Eight

Referes to the need-satisfying offering of a firm.

Refers to a product's ability to satisfy a customer's meeds or requirements.

A deed performed by one party for another. A non-physical thing.

The set of all product lines and individual products that a firm sells.

A set of all individual products that are closely related.

A particular product within a product line.

Products meant for the final consumer.

Products meant for use in producing other products.

The demand for business products from the demand for final consumer products.

Products a cosumer needs but isn't willing to spend much time or effort shopping for.

Products that are bought often, routinely, without much thought.

Products that are brough quickly- as unplanned purchases- because of strongly felt need.

Products that are purchased immediately when the need is great.

Products that a consumer feels are worth the time and effort to compare with competing products.

Shopping products the consumer sees as basically the same and wants at the lowest price.

Shopping products that consumer sees as different and wants to inspect for quality and suitability.

Consumer products that the customer really wants and makes a special effort to find.

Products that potential customers don't yet want or know they can buy.

Products offering really new ideas that potential customers don't know about yet.

Products- like gravestones, life imsurance, and encylopedias- that stay unsought and not unbought forever.

Buildings, Land Rights, and Major Equipment.

A long-lasting product that can be used and depreciated over many years.

Short-lived capital items- tools and equipment used inproduction or office activities.

Unprocessed goods, such as logs or iron ore or wheat that are used to get to the next poduction level.

A product whose total cost is treated as a business expense in the year its purchased.

products grown by farmers.

Products that occur in nature.

Processed expense items that become part of a finished product.

Expense items, such maintenence or reapir or opertaion supplies that do not become part of a finished product.

Specialized services that support a firm's operations.

Means the use of a name, term, symbol, or design- or a combinationto identify a product.

Includes only those words, symbols, or marks or letters.

The same as a trademark except reffering to a service market.

Means how well customers recognize and accept a company's brand.

Potential customers won't buy a brand unlessits image is changed.

Customers don't recognize brand even though the brand may be heavily used by intermediaries.

Customers remember the brand very well.

The target customers usually choose a particular brand over other brands, perhaps because of habit or favorable past.

Customers insist on a firm's branded product and are willing to search for it.

The value of a brand's overall strength in a market.

Spells out what kind of marks can be protected and the exact method of protecting them.

The same brand name for several products- or individual brands for each product.

A well-known brand that sellers pay a fee to use.

Separate brand names for each product.

Products tht have no brand at all other than identification of their contents and the manufacturer or middleman.

Brands created by producers and are promoted usually nationwide.

Private Brands, which are brands created by middlemen.

The competition between dealer brands and manufacturer brands, is just a question of whose brandswill be more popular and who will be in control.

Involves promoting, protecting, and enhancing the product.

Requires that consumer goods be clearly labeled in easy-to-understand terms to give consumers more information.

Explains what the seller promises about its product.

Products must provide a clearly written warranty if they choose to offer any warranty.