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25 Cards in this Set
- Front
- Back
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Product
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Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
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Service
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An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.
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Consumer Product
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A product bought by final consumers for personal consumption.
ex. convenience, shopping, specialty, and unsought products |
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Convenience Product
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A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
ex. laundry detergent or candy |
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Shopping Product
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A consumer product that the customer, in the process of selecting and purchasing usually compares on such attributes as suitability, quality, price and style.
ex. furniture or used cars |
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Specialty Product
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A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
ex. specific brands of cars or designer clothes |
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Unsought Product
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A consumer product that the consumer either does not know about or knows about but does not normally consider buying.
ex. life insurance or blood donations to the red cross |
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Industrial Product
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A product bought by individuals and organizations for further processing or for use in conducting a business.
ex. raw materials, capital items, supplies and services |
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Social Marketing
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The use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society.
ex. a public health campaign to end smoking |
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Product Quality
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The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
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Brand
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A name, term, sign, symbol, design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
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Packaging
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The activities of designing and producing the container or wrapper for a product.
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Product Line
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A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
ex. Nike - produces several lines of shoes and apparel |
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Product Mix (or product portfolio)
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The set of all product lines and items that a particular seller offers for sale.
ex. Colgate's product lines: oral care, personal care, home care and pet nutrition |
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Service Intangibility
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Services cannot be seen, tasted, felt, heard, or smelled before they are bought.
ex. patients going through cosmetic surgery |
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Service Inseperablity
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Services are produced and consumed at the same time and cannot be separated from their providers.
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Service Perishability
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The quality of services may vary greatly depending on who provides them and when, where, and how.
ex. charge for missing a dentist appt. |
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Service Profit Chain
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The chain that links service firm profits with employee and customer satisfaction.
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Internal Marketing
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Orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction.
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Interactive Marketing
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Training service employees in the fine art of interacting with customers to satisfy their needs.
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Brand Equity
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The differential effect that knowing the brand name has on customer response the product of its marketing.
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Store Brand (or private brand)
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A brand created and owned by a reseller of a product or service.
ex. Safeway Select (Safeway) or Xhilaration (Target) |
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Co-branding
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The practice of using the established brand names of two different companies on the same product.
ex. Art of Shaving partnering with Gillette for the "fusion chrome razor" |
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Line Extension
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Extending as existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
ex. Cheerios- Honey Nut, Frosted, Apple, etc. |
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Brand Extension
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Extending an existing brand name to new product categories.
ex. Kellogg's extend Special K cereal to crackers and bars |
