Marketing Exam 2 Key Terms

Human or mechanical efforts or activities that add value to a product

A brand initiated by producers to ensure producers are identified with their products at the point of purchase

Person within an organization who is responsible for product, product line, servical distinct products that make a group

Process of Selecting, organizing, and interpreting information inputs to produce meaning

A good, service, or idea received in an exchange

How a product is conceived, planned, and produced

Providing, Identifying, promotional and other important info on labels and boxes

Analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales

Decisions and activities intended to create and maintain a certain concept of the firms products in customer minds

Division of a market according to benefits that consumers want from the product

The progression of a product throughout its life. Consists of introduction, growth, maturity, and decline stages

Overall characteristics of a product that allow it to perform as expected to satisfy customer needs.

A name, term, design, symbol, or other features that identifies one sellers product as distince from other sellers.

introducing prod ideas: Idea generation, screening, concept testing, business analysis, test marketing, comercialization

Relatively inexpensive, requently purchased items for which buyers exert minimal purchasing effort.

Accumulation of values, knowledge, beliefs, customs, objects, and concepts the society uses to cope with its environment

A group of closely related product items viewed as a unit because of marketing, technical, or end use considerations.

Remembering information inputs that support personal feelings and beliefs and forgetting inputs that do not

Individuals enduring evaluation of feelings about and behavioral tendencies towards an object or idea

Process of dividing a total market into groups with relatively similar product needs to design a market mix to match

Development of a product that is closely related to existing products in a line but is designed to meet different needs

The person responsible for a single brand

Consumer decision making process used when buying frequently purchased, low cost items that require little search effort

Info search in which buyers search their memories for information about products that might solve their problems

Intangible result of the application of human and mechanical efforts to people or objects.

Items in which buyers are willing to expand considerable effort in planning and purchasing

Percentage of a market that actually buys a specific product from a particular company

Items with unique characteristics that buyers are willing to expend considerable effort to obtain

Specific design characteristics that allow a product to perform certain tasks

An organization uses one of its existing brands to brand a new product in a different category of product

Approach to market segmentation in which organizations focus precise marketing efforts on small geographic markets

The decision processes and actions of people involved in buying and using products

Legal designation of a brand

A market made up of individuals or organizations with diverse needs for products in a specific product class

Total amount of product that customers will purchase within a specific period at specific level of industry wide market

Level of interaction between provider and customer needed to deliver a service

Composite or total group of products that an organization makes avaliable to customers

The benefits or good things that come from a product or company upon purchase of a product

Info search in which buyers search for information from sources other than their memories

Sales forecasting method based on the intuiton of one or more executives

Unplanned buying decision resulting from a power urge to buy something immediately

A brand initiated and owned by a reseller