marketing 10
Terms
undefined, object
copy deck
- a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for omney or some other unit of value.
- product
- group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same type of outlets, or fall within a given price range.
- product line
- number of pruduct lines offered by a company.
- product mix
- products purchased by the ultimate consumer
- consumer goods
- products that assist directly or indirectly in providing products for resale.
- business goods (also called B2B goods, industrial goods, or org. goods)
- items that the consumer purchases frequently, conveniently, and with a min. of shopping effort
- convenience goods
- items for which the consumer compares several alternatives on criteria, such as price, quality, or style
- shopping goods
- items, such as Tiffany sterling silver, that a consumer makes a special effort to search out and buy.
- Specialty goods
- items that the consumer either does not know about or knows about but does not initially want
- unsought goods
- items used in the manufacturing process that become part of the final product. include raw materials such as grain or lumber, as well as component parts.
- production goods.
- second class of business goods; items used to assist in producing other goods and services. Include installations, accessory equipment, supplies, and services.
- support goods.
- the amount of time the FTC advises that the term new be limited to use with a product.
- 6 months
- requires no new leaning by consumers. Ex: Sensor shaver and new inproved tide detergent. to gain sonsumer awareness and wide distribution.
- continuous innovation
- disrupts consumer's normal routine but does not require totally new learning. Ex: Electric toothbrush, compact disc player, and automatic flash unit for cameras.
- dynamically continuous innovation.
- requires new learning and consumption patterns by consumers. Ex: VCR, home computer voice recognition software. To educate consumers through product trial and personal selling.
- discontinuous innovation
- a statement that, before product development begins, identifies (1) a well-defined target market; (2)specific customers' needs, wants, and preferences; and (3) what the product will be and do.
- protocol
- sequence of activities a firm uses to identify business opportunities and convert them to a salable good or service.
-
new-product process:
-Stages:
-New-product strategy development
-Idea generation
-screening and evaluation
-busniess analysis
-development
-market testing
-commercialization - involves defining the role for a new product in terms of the firm's overall corporate objectives.
- new-product strategy development
- means to "delight the customer" by achieving quality through a highly disciplined process to focus on development and delivering near-perfect products and services (99.9997% perfect).
- Six Sigma
- developing a pool of concepts as candidates for new products; must build on the previous stage results.
- idea generation
- third stage of the new product process; involves internal and external evaluations of the new-product ideas to eliminate those that warrant no further effort.
- screening and evaluation
- involves specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections.
- Business analysis
- turning the idea on paper into a prototype.
- development
- stage of the new-product process involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy
- market testing
- positioning and launching the product in full-scale production and sales.
- commercialization