Marketing test three

A good or service idea consisting of a bundle of tangible and intangible attributes that satisfies a consumers needs and is received in exchange for money or something else of value

tangible attributes that consumer five senses

an item consumed in one or a few uses

lasts over many uses such as a car

an intangible activity or benefit that an an organization provides to satisfy consumers needs in exchange for money or something else of value

a thought that leads to an action such as a concept for a new invention

products purchased by the ultimate consumer

are products that organizations buy that assist in providing other products for resale

items that the consumer purchases frequently conviently and with minimum shopping effort

Items for which the consumer compares several alternatives on criteria such as price quality or style

Items that a consumer makes a special effort to search out and buy

Items that a consumer does not know about or knows about but does not initially want

Sales of business products frequently result or derived from the sale of a consumer product

Items that become apart of the final product

Items used to assists in producing other goods services

Buildings and fixed equipment

tools and office equipment

stationary paper clips brooms

maintnence repair and legal services

a specific product that has a unique brand size price

A unique identification number that defines an item for ordering inventory purposes

a group of a product or service items that are closely related because they satisfy a class of needs are used together are sold to the same customer group are distributed through some outlets and fall within a given price range

consists of all the product lines offered by an organization

consumer dont need learn new behaviors

only minor changes in behavior required

makes consumer learn entirely new behavior required

• a statement that before a product development begins identifies
• a well defined target market
• specific customers needs wants and prefrence
• what a product will be and do

• insignificant point of difference
• bad timing
• to little marketing attraction
• poor product quality
• poor execution of marketing mix
• no economic access to buyers

the seven stages an organization goes through to identify business opportunities and convert them to salable good or service

is the stage the new product process that defines the role for a new product in terms of the the firms overall objectives

Is the stage of the new product process that develops a pool of concepts as candidates for new products building upon the previous stages results

in which an organization finds and executes creative new product ideas by developing strategic relationships with outside individuals and organizations

Is the stage of the new product process that internally and exteranlly evaluates new product ideas to elimninate those that warrant not further effort

a process of managing the entire customer expierence within the firm

external evaluations with consumers that consist of preliminary testing of a new product idea rather than an actual product

specific the features of the products and the marketing strategy needed to bring it to the market and make finacial projections

a full scale operation model of the product

Integrating the service compononet of the marketing mix with efforts to infulence consumer demand

to charge different prices for different times of the day to reflect the variations of demand for their services

the stage of the new product process that turns the idea on paper into a prototype

the stage in the new product process that involves exposing actual product to prospective consumers under realistic purchase conditions to see if they will buy

involves offering a product for sale on a limited basis in a defined area

a technique that stimulates a full scale test market but in a limited fashion

the stage of the new product process that positions and launches a new product in a full scale production and sales

introducing the product sequentially into geographical areas in the us to allow production levels and marketing activities to build up gradually to minimize the risk of new product failure

a payment manufactures makes to place a new item on retailers shelf

a penalty payment a manufacturer makes to compensate a retailer for sales it's valuable self space failed to make

often vital in introducing a new product

cross functional team members who conduct the

uses to try an fix approach encouraging continous improvement even after the intial design

describes the stages a new product goes through in the market place introduction growth maturity and decline

the initial purchase of a product by a consumer

the desire for a product class rather than for the specific brand since there are few competitors for the specific brand since there are few competitors with the same product

the preference for a specific brand

to help a company recover costs of development as well as capitalize on the price insensitivity ofearly buyers

helps build the volume but a company must closely monitor costs

people who tried the product were satisfied and bought again

dropping the product from the company's product line is the most drastic strategy

when a company retains the product but reduces marketing costs

• length
• shape
• product level
• life cycle and consumer

not all of the products have the same shape in their curve

significant consumer education is required and there is an extended introductory period

begin immeaditely because little learning is required by the consumer and the benefits of purcchase are readily understood

is a style of the times

experience rapid sales on introduction and then an equally rapid decline

refers to the entire product category or industry

pertains to variations within the product class

product diffuses or spreads through the population

manages the marketing efforts for a close knit family of products or brands

involves altering a products characteristics such as its quality performance or appearance to increasing the products value to customers and increase the sales

the sale of two or more separate products in one package

a company tries to find new customer increase a products use among exsisting customers or create new situations

changes the place a product occupies in a consumers minds relative to competitive products

involves adding value to the product through additional features or higher quality materials

involves reducing the number of features quality or price

reducing the package content without changing the package size and maintain or increasing package price

an organization uses a name phrase design symbol or combination of those identify its product and distinguish them from those of competitors

any word device or combination of these used to distinguish a sellers goods or services

a commerical legal name under which the company does business

identifies that a firm legally registered its brand name of trade name so that the firm has exclusive use thereby preventing others from using it

involves low cost copies of popular brands not manufactured by the original producer

make counterfeiters subject to 20 years in prison sentences and 15 million dollars in fines

a set of human characteristics associated with brand name

the added value a brand name gives to product beyond the functional benefits provided

• brand awareness
• brand performance and brand imagery
• consumer judgements and consumer feelings
• consumer brand connection

a contractual agreement whereby once company allows its brand names or trademarks to be used with product or services offered another company for a royalty or fee

• a company uses one name for all of its products in a product class
• also called family branding or corporate branding

the practice of using a current brand name to enter a new market segment in its product class

which combines a corporate or family brand to distinguish a part of its product line from others

the practice of using a current brand name to enter a different product class

the pairing of the two brand names of tow manufacturers on a single product

which involves giving each product a distinct name

their chief purpose is to confront competitor brands

when a manufacturer product bus sells them under brand name of a wholesaler or retailer

component of a product refers to any container in which it is offered for sale and on which label information is displayed

an integral part of the package and typically indentifies the product or brand who made it where and when it was made how it is to be used and package contents and ingredients

• the continiunng need to connect with consumers
• enviormental concerns
• health safety and security issues
• cost reduction

a statement indicating the liability of the manufactuerer for product defiencicies

written statements of liabillites

specifaclly states the bounds of coverage and areas of non coverage

no limits on coverage

assign responsibillties for product deficiency to manufacturer

intagible activities or benfits that an organization provides to satisfy consumers needs in exchange for money or something else of value

• intagiblitly
• inconsistency
• inseprability
• inventory

when the service provider is available but there is no demand

when companies bring to the market ranges from the tangible to intangible or good dominant to service dominant offerings

excesses in revenue over expenses are not taxed or distributed to share holders

can be discrened only after purchase or during consumption

characterisics that the consumer may find impossible to evaluate even after consumption

difference between the consumers expectations and expeirence

a flowchart of points of interaction between consumer and service provider

• product
• price
• place
• promotion
• people
• physical enviorment
• process
• productivity

based on the notion that service organization on its employees before succesful programs can be directed at consumers

the process of managing the entire customer expeierence with the company

the service component of the market mix must be integrated with efforts to ifluence cosumer demand