Relatively
inexpensive consumer goods and services that are purchased and
consumed rapidly and regularly.
Moderately
expensive consumer goods and services that are purchased
infrequently.
Expensive
consumer goods and services that are purchased rarely.
Relatively
inexpensive industrial goods and services that are purchased and
consumed rapidly and regularly.
Relatively
expensive, long&-lasting industrial goods and services that
are purchased infrequently.
The group of
products a company has available for sale.
A group of
similar products intended for a similar group of buyers who will
use them in similar ways.
A preliminary
version of a new product used in test marketing and as a way of
identifying production problems.
The
introduction of a new product into a limited market to gauge its
reception by consumers.
An approach to
production that combines concept testing, prototype development,
and product testing with production planning at a single
location.
The profit
producing life of a product.
A tool for
classifying businesses or products into four categories
according to their current market share and their market growth
potential: stars (high market growth, high market share); cash
cows (low market growth, high market share); question marks
(high market growth, low market share); and dogs (low market
growth, low market share).
The specific
names of products associated with a manufacturer wholesaler, or
retailer that serve to distinguish those products from similar
products of the competitors.
Brand&-name
products that are produced by, distributed by, and carry the
name of the manufacturer.
Brands that
carry the name of a nationally recognized company or
personality, not the manufacturer.
Products
carrying a name associated with a retailer or wholesaler, not
the manufacturer.
Products with
no brand names that are packaged and marketed as low&-cost
alternatives to branded products.
Customers'
recognition of, preference for, and insistence on purchasing a
product with a particular brand name.
The exclusive
legal right to use a brand name or symbol.
The physical
container in which a product is sold.
The part of a
product's packaging that identifies the product's name,
manufacturer, and contents.
A measure of a
company strength in the market; of the total market sales for a
certain type of product, the percentage that is sold by a
particular company
The amount
added to the cost of an item to earn a profit for the business.
Those costs
that change with Me number of goods or services produced or
sold.
Those costs
that are unaffected by the number of goods or services produced
or sold.
An assessment
of how many units of a product must be sold before the company
begins to earn a profit.
The number of
units of a product that must be sold to just cover both fixed
and variable costs.
A dominant
firm that establishes the selling price of a product. The other
firms in the same industry then adopt the same price for their
product.
Pricing a new
product at a very high price to cover costs and generate
profits.
Pricing a new
product at a very low price to establish the product in the
market.
The practice
of offering all items in certain categories at a limited number
of prices.
Pricing that
takes advantage of the fact that consumers are not always
rational when making purchases.
A form of
psychological pricing in which prices are not stated in even
dollar amounts.
A form of
psychological pricing in which prices are set at what appears to
be the maximum price consumers will pay for an item
Any reduction
in price offered by sellers to consumers as an incentive to
purchase a product.
A form of
discount in which customers who pay with cash (rather than
credit) receive a lower price.
A form of
discount in which lower prices are offered to customers for
customers for making a purchase at a time of the year when sales
are traditionally slow.
A form of
discount in which the companies or individuals involved in a
product's distribution pay lower prices.
A form of
discount in which customers buying large amounts of a product
pay lower prices.
