SEM Ch 5 Vocab

Front

Product item

Back

Specific model or size of a product

Front

Product line

Back

Manufacturer’s entire group of athletic shoes.

Front

Consumer goods

Back

Goods used by the ultimate consumer for personal use.

Front

business goods

Back

goods purchased by organizations for use in their operations.

Front

Point of difference

Back

Unique product characteristic or benefit that sets it apart from a competitor.

Front

Focus group

Back

A panel of 6-10 consumers discussing opinions on a topic with a moderator.

Front

Commercialization

Back

Process of producing and marketing a new product.

Front

Repositioning involves:

Back

Changing a product’s image in relation to a competitor’s image.

Front

Price: value on goods/services exchanged

Back

the value placed on goods or services being exchanged

Front

Prestige pricing

Back

Pricing based on consumer perception.