KEY TERMS UNIT 3 (PRODUCT DEVELOPMENT) Marketing.

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Presentation transcript:

KEY TERMS UNIT 3 (PRODUCT DEVELOPMENT) Marketing

PHYSICAL CHARACTERISTICS OF A PRODUCT USED TO ENHANCE BENEFITS. Features #1 SHOWNEXT MARK FOR REVIEW Review

THE VALUE OR USEFULNESS A CONSUMER RECEIVES FROM A PRODUCT. Benefits #2 SHOWNEXT MARK FOR REVIEW Review

THOSE WHO BUY PRODUCTS FOR THEIR PERSONAL USE. Final Consumers #3 SHOWNEXT MARK FOR REVIEW Review

THOSE WHO BUY GOODS TO USE THEMSELVES OR TO USE IN THE MAKING OF GOODS FOR THE PURPOSE OF RESALE. Business Consumers #4 SHOWNEXT MARK FOR REVIEW Review

INEXPENSIVE ITEMS WHICH ARE PURCHASED FREQUENTLY AND WITH MINIMAL EFFORT. Convenience Good #5 SHOWNEXT MARK FOR REVIEW Review

ITEMS PURCHASED ONLY AFTER CUSTOMER HAS COMPARED PRICE, QUALITY, AND STYLE; SOMETIMES IN MORE THAN 1 STORE. Shopping Good #6 SHOWNEXT MARK FOR REVIEW Review

ITEMS THAT CONSUMERS SELDOM GO OUT LOOKING FOR AND THAT MAY COME TO THEM. Unsought Good #7 SHOWNEXT MARK FOR REVIEW Review

AN ITEM THAT IS EXTRAORDINARY OR VERY UNIQUE (VALUABLE ARTWORK). Specialty Good #8 SHOWNEXT MARK FOR REVIEW Review

INVESTED MONEY INTO PROPERTY AND LARGE MACHINERY WITH VALUES OF OVER $5000. Capital #9 SHOWNEXT MARK FOR REVIEW Review

ITEMS PHYSICALLY USED IN THE EVERYDAY OPERATION OF A BUSINESS (TOOLS, VEHICLES,ETC). Operating Equipment #10 SHOWNEXT MARK FOR REVIEW Review

GENERAL PURPOSE CONSUMABLE ITEMS, WHICH ARE STOCKED FOR RECURRING USE (OFFICE SUPPLIES). Supplies #11 SHOWNEXT MARK FOR REVIEW Review

INDIVIDUAL GOODS USED IN THE MAKING OF A PRODUCT (WOOD & METAL FOR FURNITURE). Raw Materials #12 SHOWNEXT MARK FOR REVIEW Review

AN IDENTIFIABLE PART OF A LARGER PRODUCT (SONY RADIO IN A FORD TRUCK). Component Part #13 SHOWNEXT MARK FOR REVIEW Review

A PRODUCT’S LIFE SPAN FROM INITIAL DEVELOPMENT TO ITS EVENTUAL REMOVAL FROM THE MARKET. Product Life Cycle (PLC) #14 SHOWNEXT MARK FOR REVIEW Review

THE COMBINATION AND MAKE UP OF ALL THE PRODUCTS A COMPANY HAS TO OFFER. Product Mix (Assortment) #15 SHOWNEXT MARK FOR REVIEW Review

A GROUP OF SIMILAR PRODUCTS WITH SLIGHT VARIATIONS IN THE MARKETING MIX TO SATISFY DIFFERENT NEEDS. Product Line #16 SHOWNEXT MARK FOR REVIEW Review

NAME, MARK, OR LOGO THAT IDENTIFIES A PRODUCT OR COMPANY. Brand #17 SHOWNEXT MARK FOR REVIEW Review

LEGAL PROTECTION, GIVEN BY THE GOVERNMENT, OF A COMPANY’S NAME OR LOGO. Trademark #18 SHOWNEXT MARK FOR REVIEW Review

A WELL-KNOWN NAME OR SYMBOL ESTABLISHED BY ONE COMPANY AND SOLD FOR USE BY ANOTHER TO PROMOTE ITS PRODUCTS. Licensed Brand #19 SHOWNEXT MARK FOR REVIEW Review

The End REVIEWEND