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Marketing Terms and Concepts: Product, Pricing, and Distribution, Quizzes of Marketing Management

Definitions for various marketing terms and concepts related to products, pricing, and distribution. Topics include core benefits, actual products, augmented products, monopolies, oligopolies, monopolistic competition, pure competition, profit margin, break-even point, cost-plus pricing, contribution margin, price elasticity, penetration pricing, skimming pricing, marketing channels, wholesalers, retailers, agents, and facilitators.

Typology: Quizzes

Pre 2010

Uploaded on 12/07/2009

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TERM 1
products
DEFINITION 1
items consumed for personal or business use
TERM 2
levels of product
DEFINITION 2
core benefits actual product augmented product
TERM 3
core benefits
DEFINITION 3
the fundamental product benefits that the consumer is
buying (cars= transportation)
TERM 4
actual products
DEFINITION 4
the combination of tangible and intangible attributes that
deliver core benefits fuel economy + status symbol
TERM 5
augmented product
DEFINITION 5
additional services that enhance the ownership of an actual
product extended warranties
pf3
pf4
pf5

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products

items consumed for personal or business use TERM 2

levels of product

DEFINITION 2 core benefits actual product augmented product TERM 3

core benefits

DEFINITION 3 the fundamental product benefits that the consumer is buying (cars= transportation) TERM 4

actual products

DEFINITION 4 the combination of tangible and intangible attributes that deliver core benefits fuel economy + status symbol TERM 5

augmented product

DEFINITION 5 additional services that enhance the ownership of an actual product extended warranties

monopoly

a single firm is able to act as price "maker" often due to do product exsclusivity TERM 7

oligopoly

DEFINITION 7 a small group of firms that share pricing power though its collective ability to control prices, usually by restricting product supply TERM 8

monopolistic

competition

DEFINITION 8 a limited number of firms compete by offering products with varying degrees of differentiation Nike, Reebok, Adidas TERM 9

pure

competition

DEFINITION 9 a large number of producers sell mostly undifferentiated products wheat/ soybeans TERM 10

profit margin

DEFINITION 10 the difference between product price and total cost per unit

skimming price

set above the marketplace price for similar products or services, usually with the objective of maximizing revenue or profit TERM 17

marketing channel

DEFINITION 17 a network of all parties involved in moving products or services from producers to consumers or business customers TERM 18

wholesalers

DEFINITION 18 firms that acquire large quantities of products from manufacturers and then sort, store, and resell them to retailers or businesses TERM 19

retailers

DEFINITION 19 all channel members who are involved in selling products or services to consumers TERM 20

agents

DEFINITION 20 people who facilitate the exchange of products but do not take titles of anything they sell

facilitators

people who assist in the distribution of products and services but do not take title or negotiate sales