Management 350 Chapter 9

__________ is the process of making a new product ready for use by consumers.

commercialization

-May come from the introduction of new technology -Can be slow or fast, steady or unsteady -Both sales and profits fall during this stage What stage of the product life cycle does this describe?

decline

The _________ product includes the core product plus features that tend to differentiate it from the competition.

augmented

A(n) _____________ is a physical product.

good

What are the stages of new product development in order?

idea generation, idea screening, idea evaluation, product development, commercialization

_________ questions are answered by some sort of scale.

scalar

A(n) __________ is a customer role describing a person or group who can make credible or recognized suggestions or recommendations to other regarding purchase choices.

influencer

Customer ___________ is the term given to what a potential customer is trying to do, such as perform a a task, solve a problem, or try to achieve an outcome.

job

-It can help show competitors' weaknesses. -It can verify the size of the potential market. -It can reveal a number of customer attributes, such as where they are likely to shop and what price points they think are fair. These describe __________________ research.

marketing

A _____________ is a customer role that describes a person in an organization who is responsible for choosing which product or service will be obtained.

decision maker

-Some companies drop out of the market or go out of business. -Companies' sales and profits are fairly high but are not growing. -Companies attempt to steal customers from competitors to grow sales. These describe which stage of the product life cycle?

maturity

_________ products are essentially similar to something already on the market.

me too

A _________ item is capable of being touched, seen, tasted, or felt.

tangible

The _________ product is the entire bundle of products, services, and meanings of a firm's offering.

total

What are the 4 P's of marketing?

product, price, promotion, placement

______________ questions have only two possible choices.

dichotomous

The ________ profile is a detailed description of an archetypal or hypothetical potential consumer for a product or service.

customer

The ___________ process is the procedure to organize and pursue the finding, obtaining, and keeping of new customers.

customer development

________________ are questions that are answered by selecting the proper category.

categorical

-It captures the smallest amount of what is special about a business. -It is the basic description of what a company does. -It is linked to the NAICS code or industry description. These statements describe ____________.

core product

A(n) _________ is a customer role that describes the person who eventually makes actual use of a product or service in his/her personal or work life.

end user

_____________ market is the actual number of customers of an operating firm, divided by the size of the target market.

penetrated

____________ research is an approach to researching based on the gathering of new information, using techniques such as interviewing, surveying, and observation.

primary

The _________ development process is the procedure to organize and pursue the creation of new goods or services.

product

A _________ is a customer role that describes a person or institution that pays for or obtains a product or service.

purchaser

-How does the individual or organization use these roles to make the decisions? -Who is in each role and what is important to them in making those decisions? These two questions are ________________ questions,

purchasing process

____________ research is an approach to researching based on the use of existing information, often from government, commercial, or academic databases and research efforts.

secondary

Fixing a pipe, house painting, and tailoring clothing are all examples of _________.

services