Chapter 8 Definitions

Marketing Mix tools are the tactical tools that marketers use to implement their strategies,
engage customers, and deliver superior customer value

Product Anything that can be offered to a market for attention, acquisition, use,
or consumption that might satisfy a want or need

Services are a form of product that consists of activities, benefits, or satisfaction offered for
sale that is essentially intangible and does not result in the ownership of anything

.Consumer product A product bought by final consumers for personal consumption

Convenience product A consumer product that customers usually buy frequently,

.immediately, and with minimal comparison and buying effort

Shopping product A consumer product that the customer, in the process of selecting and
.purchasing, usually compares on such attributes as suitability, quality, price, and style

Specialty product A consumer product with unique characteristics or brand identification for
.which a significant group of buyers is willing to make a special purchase effort

Unsought product A consumer product that the consumer either does not know about or
.knows about but does not normally consider buying

Industrial product A product bought by individuals and organizations for further processing
.or for use in conducting a business

Organization marketing consists of activities undertaken to create, maintain, or change the

attitudes and behavior of target consumers toward an organization

Person marketing consists of activities undertaken to create, maintain, or change attitudes

or behavior toward particular people

Place marketing involves activities undertaken to create, maintain, or change attitudes or

.behavior toward particular places

Social marketing The use of traditional business marketing concepts and tools to encourage
.behaviors that will create individual and societal well-being

Product quality The characteristics of a product or service that bear on its ability to satisfy
.stated or implied customer needs

Total quality management (TQM) is an approach in which all of the company’s people are
.involved in constantly improving the quality of products, services, and business processes

return-on-quality approach, viewing quality as an investment and holding quality efforts

.accountable for bottom-line results

performance quality—the product’s ability to perform its functions

conformance quality—freedom from defects and consistency in delivering a targeted level

of performance

Style simply describes the appearance of a product

design is more than skin deep—it goes to the very heart of a product. Good design
contributes to a product’s usefulness as well as to its looks

Brand A name, term, sign, symbol, or design, or a combination of these, that identifies the
products or services of one seller or group of sellers and differentiates them from those of
.competitors

.Packaging The activities of designing and producing the container or wrapper for a product

Product line A group of products that are closely related because they function in a similar
manner, are sold to the same customer groups, are marketed through the same types of
outlets, or fall within given price ranges

Product line length is the number of items in the product line

Line filling involves adding more items within the present range of the line

Line stretching is when the company lengthens its product line beyond its current range

Product mix (or product portfolio) The set of all product lines and items that a particular
.seller offers for sale

Width refers to the number of different product lines that the company carries

Length refers to the total number of items company carries within its product lines

Depth refers to the number of versions offered of each product in the line

Consistency of the product mix refers to how closely related the various product lines are in
end use, production requirements, distribution channels, or some other way

Service intangibility Services cannot be seen, tasted, felt, heard, or smelled before they are
.bought

Service inseparability Services are produced and consumed at the same time and cannot be
separated from their providers

Service variability The quality of services may vary greatly depending on who provides them
.and when, where, and how they are provided

.Service perishability Services cannot be stored for later sale or use

Service profit chain The chain that links service firm profits with employee and customer
.satisfaction