MKT 5-1 Glossary

A product marketing strategy where several products are offered together for sale as one combined product, and where the pricing of the bundled product is usually less than the sum of the individual pricing of each product if sold separately.

• Bindle

• Bundle

• Bundles

• Bindles

When a company experiences a reduction in sales of one product as a result of the introduction of a new product. When a company experiences a reduction in sales of one product as a result of the introduction of a new product.

• Good

• Cannibalization

A tangible object that is manufactured for sale to customers.

• Positioning

• Good

• Product-Related Service

• Pure Service

When a company, through various marketing efforts, forms an image for customers to react to and connect with in the target market.

• Pure Service

• Product/Service Management

• Product-Related Service

• Positioning

A service that is attached to and sold along with a tangible product/good.

• Product-Related Service

• Product/Service Management

• Good

Improving existing products and developing new products in order to meet customer demands.

• Service

• Pure Service

• Product/Service Management:

A service with no tangible product attached to it.

• Purse Services

• Pure Service

• Purse Services

• Purse Service

An intangible item or action that a person does or company provides for sale to customers.

• Service

• Serve

• Servers

A specific, targeted group of customers that is chosen to have access to your product first, limited based on market segments like demographics and/or geographic areas, in order to gather valuable information to make product enhancements before a full scale market roll out of your product.

• Test Market

• Market Testers

• Taste Markets