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VALUES
GOOD QUALITY AT A FAIR PRICE.
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PRODUCT LINES
A GROUP OF PRODUCTS THAT ARE PHYSICALLY SIMILAR OR ARE INTENDED FOR A SIMILIAR MARKET
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PRODUCT MIX
THE CIMBINATION OF PRODUCT LINES OFFERED BY A MANUFACTURER
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PRODUCT DIFFERENTIATION
THE CREATION OF REAL OR PERCEIVED PRODUCT DIFFERENCES
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CONVIENCE GOODS AND SERVICES
PRODUCTS THAT THE CONSUMER WANTS TO PURCHASE FREQUENTLY AND WITH A MINIMUM OF EFFORT
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SHOPPING GOODS AND SERVICES
THOSE PRODUCTS THAT THE CONSUMER BUYS ONLY AFTER COMPARING VALUE, QUALITY, PRICE, AND STYLE FROM A VARIETY OF SELLERS
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SPECIALTY GOODS AND SERVICES
CONSUMER PRODUCTS WITH UNIQUE CHARACTERISTICS AND BRAND IDENTITY; CONSUMER PUT FORTH A SPECIAL EFFORT TO PURCHASE THEM
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UNSOUGHT GOODS AND SERVICES
PRODUCTS THAT CONSUMERS ARE UNAWARE OF, HAVENT THOUGHT OF BUYING OR FIND THAT THEY NEED TO SOLVE AN UNEXPECTED PROBLEM
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INDUSTRIAL GOODS
PRODUCTS USED IN THE PRODUCTION OF OTHER PRODUCTS
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ACCESSORY EQUIPMENT
CAPITAL ITEM THAT ARE NOT QUIE AS LONG LASTING. EX: COMPUTERS, PRINTER
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TRADEMARK
A BRAND THAT HAS BEEN GIVEN EXLUSIVE LEGAL PROTECTION FOR BOTH THE BRAND NAME AND THE PICTORIAL DESIGN
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MANUFACTURERS' BRAND NAMES
THE BRAND NAMES OF MANUFACTURERS THAT DISTRIBUTE PRODUCTS NATIONALLY
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DEALERS (PRIVATE-LABEL) BRANDS
PRODUCTS THAT DON'T CARRY THE MANUFACTURER'S NAME BUT CARRY A DISTRIBUTOR OR RETAILER'S NAME INSTEAD
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GENERIC GOOD
NONBRANDED PRODUCTS THAT USUALLY SELL AT A SIZABLE DISCOUNT COMPARED TO NATIONAL OR PRIVATE LABEL BRANDS.
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KNOCKOFF BRANDS
ILLEGAL COPIES OF NATIONAL BRAND-NAME GOODS
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BRAND EQUITY
THE COMBINATION OF FACTORS- SUCH AS AWARENESS, LOTALTY, QUALITY, IMAGES, AND EMOTIONS- THAT PEOPLE ASSOCIATE WITH A GIVEN BRAND NAME
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BRAND LOYALTY
THE DEGREE TO WHICH CUSTOMERS ARE SATISFIED, LIKE THE BRAND, AND ARE COMMUTTED TO FURTHER PURCHASE
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BRAND AWARENESS
HOW QUICKLY OR EASILY A GIVEN BRAND NAME COMES TO MIND WHEN A PRODUCT CATEGORY IS MENTIONED.
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BRAND ASSOCIATION
THE LINKING OF A BRAND TO OTHER FAVORABLE IMAGES
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BRAND MANAGER
A MANAGER WHO HAS DIECT RESPONSIBILITY FOR ONE BRAND OR ONE PRODUCT LINE
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PRODUCT SCREENING
A PROCESS DESIGNED TO REDUCE THE NUMBER OF NEW-PRODUCT IDEAS BEING WORKED ON AT ANY ONE TIME
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PRODUCT ANALYSIS
MAKING COST ESTIMATES AND SALES FORECASTS TO GET A FEELING FOR PROFITABILITY OF NEW-PRODUCT IDEAS
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CONCEPT TESTING
TAKING A PRODUCT IDEA TO CONSUMERS TO TEST THEIR REACTIONS
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COMMERCIALIZATION
PROMOTING A PRODUCT TO DISTRIBUTORS AND REAILTERS TO GET WIDE DISTRIBUTION, AND DEVELOPING STRONG ADVERTISING AND SALES CAMPAIGNS TO GENERATE AND MAINTAN INTEREST IN THE PRODUCT AMONG DISTRIBUTORS AND CONSUMERS
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PRODUCT LIFE CYCLE
A THEORETICAL MODEL OF WHAT HAPPENS TO SALES AND PRODITS FOR A PRODUCT CLASS OVER TIME
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TARGET COSTING
DESIGNING A PRODUCT SO THAT IT SATISFIES CUSTOMERS AND MEETS THE PROFIT MARGINS DESIRED BY THE FIRM
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COMPETITION- BASE PRICING
A PRICING STRATEGY BASED ON WHAT ALL THE OTHER COMPETITORS ARE DOING.
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PRICE LEADERSHIP
THE PROCEDURE BY WHICH ONE OR MORE DOMINANT FIRMS SET THE PRICING PRACTICES THAT ALL COMPETITORS ARE AN INDUSTRY FOLLOW
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BREAK-EVEN ANALYSIS
THE PROCESS USED TO DETERMIND PROFITABILITY AT VARIOUS LEVELS OF SALES
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TOTAL FIX COSTS
ALL THE EXPENSES THAT REMAIN THE SAME NO MATTER HOW MANY PRODUCTS ARE MADE OR SOLD
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VARIABLE COST
COSTS THAT CHANGE ACCORDING TO THE LEVEL OF PRODUCTION
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SKIMMING PRICE STRATEGY
STRATEGY IN WHICH NEW PRODUCT IS PRICED HIGH TO MAKE OPTIMUM PROFIT WHILE THERE'S LITTLE COMPETITION
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PENETRATION STRATEGY
STRATEGY IN WHICH A PRODUCT IS PRICED LOW TO ATTRACK MANY CUSTOMERS AND DISCOURAGE COMPETITION
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EVERYDAY LOW PRICING (EDLP)
SETTING PRICES LOWER THAN COMPETITORS AND THEN NOT HAVING ANY SPECIAL SALES
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HIGH-LOW PRICING STRATEGY
SETTING PRICES THAT ARE HIGHER THEN EDLP STORES, BUT HAVING MANY SPECIAL SALES WHERE THE PRICES ARE LOWER THEN COMPETITORS
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BUNDLING
GROUPING TWO OR MORE PRODUCTS TOGETHER AND PRICING THEM AS A UNIT
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PSYCHOLOGICAL PRICING
PRICING GOODS AND SERVICES AT PRICE POINTS THAT MAKE THE PRODUCT APPEAR LESS EXPENSIVE THAN IT IS
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