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Marketing - Chapter 9

Terms

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copy deck
Lanham Act
(of 1946) spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them
Raw materials
unprocessed expense items - such as logs, iron ore, and wheat - that are moved to the next production process with little handling - these become pare of a physical good and are expense items
Professional services
specialized services that support a firm's operations
Shopping products
products that a customer feels are worth the time and effort to compare with competing products
New unsought products
products offering really new ideas that the potential customers don't know about yet
Convenience products
products a consumer needs but isn't willing to spend much time or effort shopping for
Accessories
short-lived capital items-tools and equipment used in production or office activities-like Canon's copy machines, Rockwell's portable drills, and Steelcase's filing cabinets
Unsought products
products that the potential customers don't yet know they can buy
Natural products
products that occur in nature - such as timber, iron ore, oil, and coal
Supplies
expense items that do not become part of a finished product. Can be divided into three types: (1) maintenance, (2) repair, and (3) operating - giving them their common name: MRO supplies
Brand name
a word, letter, or a group of words or letters
Impulse products
products that are bought quickly-as unplanned purchases- because of a strongly felt need
Trademark
those words, symbols, or marks that are legally registered for use by a single company
Staples
products that are bought often, routinely, and without much thought-like breakfast cereal, canned soup, and most other packaged foods used almost every day in almost every household
Consumer product classes
products meant for the final customer
Homogeneous shopping products
shopping products the customer sees is basically the same and wants at the lower price
Specialty products
consumer products that the customer really wants and makes a special effort to find
Service mark
the same as a trademark except it refers to a service offering
Branding
the use of a name, term, symbol, or design-or a combination of these-to identify a product
Regularly unsought products
are products - like grave stones, life insurance, and encyclopedias-that stay unsought but not unbought forever
Farm products
grown by farmers - oranges, sugar cane, and cattle
Product definition
the need satisfying offering of a firm
Installations
such as buildings, land rights, and major equipment - are important capital items
Emergency products
products that are purchased immediately when the need is great
Business product classes
products meant for use in producing other products
Heterogeneous shopping products
shopping products the customer sees as different and wants to inspect for quality and suitability
Components
processed expense items that become part of a finished product

Deck Info

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