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36 Cards in this Set
- Front
- Back
- 3rd side (hint)
new product development |
1.New product strategy development 2.idea generation 3.screening and evaluation 4.business analysis 5.development 6.Marketing testing 7.Commercialization |
7 steps |
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product |
-good, service or idea -bundle of tangibles and intangibles -received in exchange for some unit value |
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Product line |
-a firms total product offering designed to satisfy a single need for target customers -Consists of an assortment of different products tailored to different consumer needs |
P&G line of dish detergents: Dawn, ivory, Joy |
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product mix |
a firms entire range of ptoducts |
Gillette offers shaving products, deodorants, writing instruments and toothbrushes |
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tangible |
something that you can touch see and feel like deodorant |
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intangibles |
a product that you cant see or feel like a service |
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product classification |
-by user type -by degree of tangibility |
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By user type |
-consumer goods purchased by ultimate consumer -Industrial or business goods assist in providing products for resale |
purchased by ultimate consumers |
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By degree of tangibility |
-non durable-low involvement-consumed in few uses -durable-high involvement-last over extended number of uses -Services-activities,benefits and satisfaction offered for sale |
non durable durable service |
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Consumer |
convince-frequently purchased, minimum effort Shopping-compare several alternative Specialty-specifically search for Unsought-something you don't want |
4 things |
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Business goods: derived demand |
Components-used as part of final product Support- assist in producing other goods and services (installation, supplies and services |
2 things |
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convenience product |
frequent purchases; little time and effort spent shopping |
toothpaste,cake mix and hand soap |
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shopping product |
infrequent purchases need much comparison shopping time |
cameras, TVs and briefcases |
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specialty product |
infrequent purchases; needs extensive search and decision time |
Rolls-Royce cars, Rolex watches and heart surgery |
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unsought product |
very infrequent purchases; some comparison shopping |
Burial insurance, thesaurus |
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Core service |
is a benefit that a customer gets from the service example travel |
travel |
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Augmented service |
are additional offeringd that differentiate the firm example frequent flier miles, amount of leg room, in flight entertainment services, and internet access |
frequent flier miles |
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Service classification |
-delivered by people or equipment. -profit or non-profit 10% of the labor force of the US are employed by non profits -government services |
3 things |
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Specificities of service |
-Intangibility -inconsistency of quality -inseparability -Inventory |
4 I's |
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Intangibility |
-can't hold, touch or see before purchase -Marketers make them tangible by showing benefits of using service |
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Inconsistency of quality |
-services depend on people -Standardization and training used as remedy |
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Inseparability |
-consumer can't separate deliver of service from service itself -Customer involvement varies |
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Inventory |
-idle production capacity -inventory cost -salary vs commission |
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Marketing strategies for different service characteristics |
-intangibility
-perishability -variability -inseparability |
4 things |
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intangibility |
the building, logo, employee uniforms |
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Perishability |
adjust services to match demand like a work schedule |
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Variability |
offer service guarantees like training a waiter from a bus boy to a hostess |
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Insparability |
training employees |
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search properties |
product characteristics that the consumer can look at prior to purchase |
what tangible goods have |
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Expierence properties |
characteristics that customers can determine during or after consumption |
what services have |
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credence properties |
attributes we find difficult to evaluate even after we've expierenced them |
specialized service |
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gap analysis |
measurement tool that gauges the difference between a customer's expectation of service and quality and what actually occurred |
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Critical incident technique |
company collects and closely analyzes very specific customer complaints to identify critical incidents |
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Crest |
Calm the customer Repeat the problem Empathize Solve the problem Timely response |
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Organization level opinion |
-incremental improvement -Significant jump in technology -Truly revolutionary new product |
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Consumer level opinion |
dynamically continous innovation-minor changes in behavior needed Discontinous innovation-learning new cinsumption pattern |
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