Marketing ch 6

  1. OEM offerings or components
    Products, or parts, sold by one manufacturer to another that get built into a final product without further modification.
  2. benefit
    The degree to which a feature satisfies a buyer’s need or desire.
  3. brand
    A name, picture, design, or symbol, or combination of those elements, used by a seller to differentiate its offerings from competitors’.
  4. brand extension
    The process of utilizing an existing brand name or brand mark for a new product category.
  5. brand manager
    A person responsible for all business decisions regarding offerings within one brand. A brand manager is often charged with running his or her brand as if it is its own separate business.
  6. brand mark
    A symbol or logo used to identify a brand.
  7. brand name
    The spoken part of an identity used to describe of a brand.
  8. branding
    A set of activities designed to create a brand and position it in the minds of consumers.
  9. cannibalization
    When a new product takes sales away from the same company’s existing products.
  10. capital equipment offering
    Tangible equipment business purchases that are depreciated.
  11. category manager
    Someone responsible for managing a broad group of products that may belong to multiple manufacturers.
  12. convenience offering
    Low-priced, frequently purchased products and services that require little shopping effort.
  13. facilitating offerings
    Offerings that support an organization’s ability to do business but do not go into the final product.
  14. feature
    A characteristic of an offering.
  15. impulse offering
    An offering that is purchased on impulse, without prior planning.
  16. line breadth
    The number of different, or distinct, product lines offered by a company.
  17. line depth
    The number of variations in a single product line.
  18. line extension
    A new idea or offering that occurs when a company comes out with another model (related product or service) based on the same platform and brand as one of its other products.
  19. maintenance, repair, and operations (MRO)
    Offerings used to maintain, repair, and operate the physical assets of an organization.
  20. manufactured material
    A material that has been processed into a finished good but is not a stand-alone product; it still has to be incorporated into something else to be usable.
  21. market manager
    Someone responsible for managing efforts within a particular market, such as a geographic market or another grouping of customers into a market (e.g., a single industry or size).
  22. offering
    The entire bundle of a tangible good, intangible service, and price that composes what a company offers to customers.
  23. original equipment manufacturer (OEM)
    A company that assembles and manufactures a product into its final form.
  24. price
    The amount exchanged by the buyer to receive the value offered by the product or service.
  25. primary packaging
    Packaging designed to hold a single retail unit of a product.
  26. product
    A tangible good that can be bought, sold, and owned.
  27. product line
    A group of offerings that serve similar needs and are sold under the same name.
  28. product manager
    Someone with business responsibility for a particular product or product line. Like brand managers, product managers must make decisions, such as which offerings to include, advertising selection, and others.
  29. product mix
    The entire assortment of products that a firm offers.
  30. product-oriented
    An approach to business that centers on capturing business by focusing on creating and manufacturing better products at lower prices.
  31. raw materials offering
    Raw material products firms offer other firms so they can make a product or provide a service. These offerings are processed only to the point required for economic handling and distribution.
  32. secondary packaging
    Packaging designed to hold a single wholesale unit of a product.
  33. service
    • An intangible component of an offering.
    • shopping offeringAn offering for which the consumer will make an effort to compare various firms’ offerings and select a brand.
  34. specialty offering
    An offering that is highly differentiated from other offerings and is designed to satisfy a similar need or want.
  35. technology platform
    The core technology that is the basis for an offering or product.
  36. tertiary packaging
    Packaging designed for the shipping and efficiently handling of large quantities of a product.
  37. total cost of ownership (TCO)
    The total amount of time and money spent to acquire, use, and dispose of an offering.
  38. unsought offering
    An offering consumers don’t typically shop for until it is needed. Examples include funeral and towing services.
  39. vertical market
    B2B customers that compose a particular industry, such as the health care industry.
  40. vertical market managers
    Marketing managers who oversee B2B products sold to a particular industry.
Card Set
Marketing ch 6
key terms