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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.
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items consumed for personal or business use TERM 2
DEFINITION 2 core benefits actual product augmented product TERM 3
DEFINITION 3 the fundamental product benefits that the consumer is buying (cars= transportation) TERM 4
DEFINITION 4 the combination of tangible and intangible attributes that deliver core benefits fuel economy + status symbol TERM 5
DEFINITION 5 additional services that enhance the ownership of an actual product extended warranties
a single firm is able to act as price "maker" often due to do product exsclusivity TERM 7
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
DEFINITION 8 a limited number of firms compete by offering products with varying degrees of differentiation Nike, Reebok, Adidas TERM 9
DEFINITION 9 a large number of producers sell mostly undifferentiated products wheat/ soybeans TERM 10
DEFINITION 10 the difference between product price and total cost per unit
set above the marketplace price for similar products or services, usually with the objective of maximizing revenue or profit TERM 17
DEFINITION 17 a network of all parties involved in moving products or services from producers to consumers or business customers TERM 18
DEFINITION 18 firms that acquire large quantities of products from manufacturers and then sort, store, and resell them to retailers or businesses TERM 19
DEFINITION 19 all channel members who are involved in selling products or services to consumers TERM 20
DEFINITION 20 people who facilitate the exchange of products but do not take titles of anything they sell
people who assist in the distribution of products and services but do not take title or negotiate sales