Marketing Quiz 3

A tanglible physical entity.

An intangible result of the application of human and mechanical efforts to people or objects.

A concept, philosophy, image or issue.

Realatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort.

Item for which buyers are willing to expend considerable effort in planning and making purchases.  

Items with unique characteristics that buyers are willing to expend considerable effort to obtain.

Products purchased to solve a sudden problem, products of which customers are unaware, and products that people do not necessarily think of buying.

The number of product lines a company offers.

The average number of different products offered in each product line.

The progression of a product through four stages; introduction, growth, maturity and decline.

Need marketing know how

Ensure efficient distribution

Getting and keeping customers.

• Harvesting
•      Gradually reduce marketing

• Divesting
•      Cut marketing, - know you are on the way out.

the buyer exaines, test or tries the product to determine if it meets his or her needs.

Innovator- first adopters

Early adopters - adopt early, but choose carefully

Early majority - adopt prior to average person, look to early adopters for guidance

Late majority - skeptincs who adopt when feel it is nessasary

laggards - Last to adopt, distrust new products.

Development of a product that is closely realted to existing products in the line but is designed specifically to meet different customer needs.

Changes realted to a products' dependability and durability

Changes affecting product's versatility, effectiveness, convenince or safety.

Changes relating to the sensory appeal of a product.

A seven phase process for introducing products.

Seeking product ideas to achieve organizaional objectives.

Selecting ideas with the greatest potential for further review.

Seeking a sample of botential buyer's resposes to a product idea.

Evaluatin the potential impact of a product idea on the firm's sales, costs, and profits.

Determining if producing a product is technically feasible and cost effective.

A limited introduction of a product in geographic areas chosen to represent the intended market.

Refining and finalizing plans and budgets for full scale manufacturing and marketing of a product

Allow the product to decline without changing in the marketing strategy; no attempt made to give product new life.

Expliot any strenght left in the product. Intensify markeing efforts in core markets or eliminating some market expenditures.

Best strategy when losses are too great to prolong the products life

The person within an organization who is resposible for a product, a product line, or several distinct products that make up a group.

The person responsible for a single brand

A cross-functional group that creates entirely new products that may be aimed at new markets.

Goods dominant products to service dominate products. Products are rarely one or the others, it is often a combination of the two. Products fall in the continuum in catergories more goods or more service defined.

Production of a service cannot be seperated from its consumption by customers.

The inablity of unused service capicity to be stored for future use.

Variation in quality

Interactions that result in satisfied customers who use a sercie repeatedly over time.

the level of interaction between provider ad customer needed to deliver the service.

The part of a brand that can be spoken, including letters, words, and numbers

A customers favorable attitude toward a specific brand

The degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if thier preferred brand is unavailable.

The degree of brand loyalty in which a customer prefers on brand over competitive offerings.

the degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute.

The marketing and financial value associated with a brands strength in a market.

A branding strategy in which each product is given a different name

Branding all of a firms' products withthe same name or part of the name

An organization uses one of its existing brands to brand a new product in a different category .

Using tow or more brands on one product.

using similar packaging for all of a firm's products or packaging that has one common design element.

The product is packaged in line with the packaging practices associated with a particular product catergory. Like jars for condiments.

Packaging multiple items in a single containter. two for one sales

Package can be reused for purposes other then ints initial function.

Royal color