Exam 4 - 2400

The 2nd stage of the screening process where preliminary figures are calculated.

Frequent flyer programs are an example of what level of relationship marketing?

The value of a company or brand name.

Experience qualities can only be assessed after use.

Simultaneous product development shortens the development process and reduces cost.

A group of closely related product items.

Helps marketers forecast future events and suggest appropriate strategies.

When services are directed at customers' physical possessions.

Perishability is the inability of services to be stored, warehoused, or inventoried.

A characteristic that can easily be assessed before purchase.

Specialty products are distributed to only a few outlets in a geographic area.

The result of appling human or mechanical efforts to people or objects.

Performing a service right the first time.

Product that requires comparison shopping because it's usually more expensive.

Opinion leaders speed up the diffusion process by word-of-mouth communication.

The exclusive right to use a brand or part of a brand.

The first 2.5% of all who adopt the product that read expert reviews on the internet and not rely on opinions of others.

The variability of inputs/outputs of services, causing them to be less standardized than products.

Refers to everything, both favorable and unfavorable, that a person receives in an exchange.

A concrete symbol of the service offering, such as hotels putting mints on the pillows.

A carwash would be consisidered....

Early adopters are distinguished by demographics, not behaviors.

The number of product lines an organization offers.

An express warranty is an unwritten guarantee that a product is a fit for the purpose for which it was sold.

Existing products targeted at new markets or market segments.

The least important factor in new product introduction is giving a meaningful benefit to a sizable # of people.

Changing one or more of a product's characteristics is called product modification.

Bundled prices are more difficult to administer than individual pricing.