CHAPTER 4
Cards (51)
- It refers to the goods and services offered by the organization .
- Which classification are consumer goods and industrial goods?
- The classification of a product of its durability type.
- The classification of a product if its tangible or non-tangible.
- What are the classifications of a product based on use?
- These goods are meant for personal non-business use or consumption by the households or ultimate consumers.
- A class of consumer goods that people buy frequently with the least possible time and effort.
- A class of consumer goods that are purchased only after the buyer had spent some time and effort comparing price, quality, style, color, etc., of alternative products in competing stores.
- A class of consumer goods with perceived unique characteristics, such that consumers are willing to spend special effort to buy them.
- A classification of a product based on use that are used as inputs in production of other products or provision of some service.
- A kind of industrial goods that have not been processed except for physical handling.
- A kind of industrial goods that is part of another final product but are identifiable in finished forms. They are already processed to some extent.
- A kind of industrial goods that refer to major pieces equipment used in the manufacture of other goods.
- A kind of industrial goods that are used to facilitate or aid in the production of the industrial market. It will not be part of any final production.
- A kind of industrial goods that are convenience goods of industrial markets.
- Classification of a product based on Durability in which goods can be used for a long period, i.e., for months or years together.
- Classification of a product based on durability in which a product that are normally consumed in one go or last for a few uses.
- Products based on tangibility that have a physical form, can be touched and seen. Can be convenience or industrial goods and either durable or non-durable.
- Products based on Tangibility that refer to services to the individual costumers or to the organizational buyers.
- The second P in the marketing mix; it represents the location where the buyer and seller exchange goods services.
- Place can be also called—?
- What is the main function of a distribution channel?
- The type or stage of distribution channel where there is direct sales of goods by the producer to the consumer.
- This stage of distribution channel has one middlemen i.e. the retailer. The manufacturers sell their goods to retailers who in turn sells it to the customers.
- Stage of distribution channel that is most commonly used for the sale of consumer goods. There are two middlemen used, the wholesaler and retailer.
- It is the longest channel of distribution. When the number of wholesalers used is large and they are scattered throughout the country, manufactures use the services of mercantile agents who act as a link between the producer and wholesaler. Also called distributor.
- **Considers the range of area of buyers and locations
- Factor affecting choice of distribution channel wherein they take in the aspect of product sales in the market. Ex. Consumer goods of small value, bought frequently at small quantities, and large number of people, then they use middlemen.
- Factor of affecting distribution channel wherein it takes into account of a firm's capability to own or control a distribution channel.
- Factor affecting choice of DC in which they consider the skills, capabilities, competencies, and profit margins of middlemen as agents for their distribution channel, to ensure success of product.
- This is a serious component in the marketing mix.
- It is the value of money in exchange for a product or service
- It is another important element of this marketing mix that it plays a crucial role on the success of a product in the market. It is the determination of price to be charged.
- Price is set artificially love in order to gain market share, then once this is achieved, price slowly increases.
- A company charges a higher price then slowly lowers the price to make the product available to a wider market because of competitive advantage.
- A pricing method in which a seller uses prices of competing products and a benchmark instead of considering own costs or customer demand.
- Setting prices for multiple products that a company offers in coordination with one another. Aims to maximize the sales of different products by creating more complementary, rather than competitive products.