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| in marketing, any good or service, along with its perceived attributes and benefits, that creates value for the costumer |
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| a name, design, symbol, specific colour, slogan, or any other feature that identifies a product, distinguishes it from other products, and creates a perception in the minds of consumers |
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| a legally exclusive design, name, or other identifying mark associated with a company's brand |
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| a costumer's preference for a particular brand that results in advocacy for that brand |
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| a brand that is so dominant that costumers think of it immediately when a product category is mentioned |
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| a brand that is owned by a national or regional manufacturer; the products are widely distributed |
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| a brand that is owned by the wholesaler or retailer rather than the manufacturer |
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| a brand that carries no specific name associated with a manufacturer, wholesaler, or retail and usually comes in plain containers and sells for less than brand name products |
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| products that either are unknown to the potential buyer or are known but not actively sought by the buyer |
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| relatively inexpensive items that required little shopping effort and are purchased routinely without planning |
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| items that are brought after considerable planning, including brand-to-brand and store-to-store comparisons of price, suitability and style |
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| items for which consumers search long and hard, and for which they refuse to accept substitutes |
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| large, expensive items with a long lifespan that are purchased by business for use in making other products or providing a service |
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| items, purchased by businesses, that are smaller and less expensive than capital products and usually have a lifespan of less than one year |
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| the pattern of sales and profits over time for a product or product category |
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| a pricing objective that entails getting the largest possible profit from a product by producing it for as long as the revenue from selling the product exceeds the cost of producing it |
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| target return on investment |
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| a pricing objective where the price of a product is set so as to give the company the desired profitability in terms of return on its money |
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| a pricing strategy in which the target market is offered a high quality product at a fair price and with good service |
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| the strategy of introducing a product with a high initial price and lowering the price over time as the product moves through its life cycle |
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| the strategy of selling new products at low prices in the hope of achieving a large sales volume |
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| the strategy of pricing products below the normal markup or even below cost to attract costumers to a store where they would not otherwise shop |
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| a product priced below cost as part of a leader pricing strategy |
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| the strategy of grouping two or more related products together and pricing them as a single product |
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| odd-even (psychological) pricing |
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| the strategy of setting a price at an odd number to connote a bargain and at an even number to suggest quality |
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| the strategy of increasing the price of a product so that consumers will perceive it as being of higher quality, status, or value |
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| break-even-point/break-even-quantity |
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| the price at which a products costs are covered, so additional sales result in profit |
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| costs that do not vary with different levels of output; for example, rent. |
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| costs that change with different levels of output |
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| the selling price per unit (revenue) minus the variable costs per unit |
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| the selling price per unit times the number of units sold |
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| the sum of the fixed costs and the variable costs |
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| total revenue minus total cost |
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| a method of pricing in which a certain percentage is added to the product's cost to arrive at the price |
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| activity-based costing (ABC) |
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| ABC assigns resource costs through all the activities to either produce the product or acquire it for resale |
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| efficiently managing the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers |
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| a producer; an organization that converts raw materials to finished products |
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| the series of marketing entities through which goods and services pass on their way from producers to end users |
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| organizations that assist in moving goods and services from producers to end users |
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| sales representatives of manufacturers and wholesalers |
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| go-betweens that bring buyers and sellers together |
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| independent wholesalers that buy related product lines from many manufacturers and sell them to industrial users |
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| companies that sell finished goods to retailers, manufacturers, and institutions |
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| companies that sell goods to consumers and to industrial users for their own consumption |
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| two or more channels that distribute the same product to target markets |
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| strategic channel alliances |
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| one manufacturer using another manufacturer's previously established channel to distribute its goods |
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| the process of breaking large shipments of similar products into smaller, more usable lots |
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| a distribution system in which a manufacturer selects only one or two dealers in an area to market its products |
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| a distribution system in which a manufacturer selects a limited number of dealers in an area to market its products |
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| a distribution system in which a manufacturer tries to sell its products wherever there are potential costumers |
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| the attempt by marketers to inform, persuade, or remind consumers and industrial users to engage in the exchange process |
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| the combination of advertising, personal selling, sales promotion, and public relations used to promote a product |
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| any paid form of non-personal presentation by an identified sponsor |
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| a face-to-face sales presentation to a prospective costumer |
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| marketing events or sales efforts-not including advertising, personal selling, and public relations-that stimulate buying |
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| any communication or activity designed to win goodwill or prestige for a company or person |
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| integrated marketing communications (IMC) |
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| the careful coordination of all promotional activities-media advertising, sales promotion, personal selling, and public relations, as well as direct marketing, packaging, and other forms of promotion-to produce a consistent, unified message that is customer focused |
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| the physical stocking of merchandise at a retailer by the salesperson who delivers the merchandise |
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| a promotional strategy in which a manufacturer uses aggressive personal selling and trade advertising to convince a wholesaler or retailer to carry and sell its merchandise |
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| a promotional strategy in which a manufacturer focuses on stimulating consumer demand for its product rather than on trying to persuade wholesalers or retailers to carry the product |
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| warehouses that specialize in rapid movement of goods to retail stores by making and breaking bulk |
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| a system that maintains an adequate assortment of items to meet user's or costumers' needs |
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