
Chapter 11 POM Vocabulary
Quiz by Dr. Jaclyn Muller
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A tangible physical entity
An intangible result of the application of human and mechanical efforts to people or objects
A concept, philosophy, image, or issue
Products purchased to satisfy personal and family needs
Products bought to use in a firm’s operations, to resell, or to make other products
Relatively inexpensive products that are purchased frequently and that require a minimum amount of effort on the part of the consumer to select and purchase them
Items customers don’t buy often and that they need to think carefully about before purchasing
Items, with unique characteristics, that buyers are willing to expend considerable effort to obtain
Products that consumers are either unaware of or are not interested in actively considering before purchase
Facilities and nonportable major equipment
Equipment that does not become part of the final physical product but is used in production or office activities
Basic natural materials that become part of a physical product
Items that become part of the physical product and are either finished items ready for assembly or items that need little processing before assembly
Materials that are used directly in the production of other products but are not readily identifiable
Maintenance, repair, and operating items that facilitate production and operations but do not become part of the finished product
Intangible products that many organizations use in their operations
A specific version of a product that can be designated as a distinct offering among a firm’s products
A group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations
The total number of product lines offered by a company
The number of product lines a company offers
The average number of different products offered in each product line
The progression of a product through four stages: introduction, growth, maturity, and decline
The first stage of the product life cycle, in which the product is initially released into the market and when sales start at zero and profits are negative
The product life-cycle stage during which sales rise rapidly, profits reach a peak, and then profits start to decline
The stage of a product’s life cycle during which the sales curve peaks and starts to level off or decline, and profits continue to fall
The stage of a product’s life cycle during which sales fall rapidly due to the reduction in the original needs and wants or because of the introduction of another product innovation
The five-stage process of buyer acceptance of a product: awareness, interest, evaluation, trial, and adoption
First adopters of new products
People who adopt new products early, choose new products carefully, and are viewed as “the people to check with” by later adopters
Individuals who adopt a new product just prior to the average person
Skeptics who adopt new products when they feel it is necessary
The last product adopters, who distrust new products
A name, term, design, symbol, or other feature that identifies one seller’s product as distinct from those of other sellers
The part of a brand that can be spoken, including letters, words, and numbers
The part of a brand that is not made up of words, such as a symbol or design
A legal designation of exclusive use of a brand
A legal designation of exclusive use of a brand
The value of a brand, as determined by the consumer’s perception of its quality and appeal
A customer’s favorable attitude toward a specific brand
The degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if their preferred brand is unavailable
The degree of brand loyalty in which a customer prefers one brand over competitive offerings
The degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute
Brands owned by the manufacturer rather than the reseller
Brands owned by a reseller
Brands indicating only the product category
A marketing approach in which every product or service provided by a company is promoted and sold using its own distinct brand name and identity
A strategy where a company markets and promotes its wide range of products or services with a single, unified brand name and identity
An organization uses one of its existing brands to brand a new product in a different product category
A strategy that involves two or more brands collaborating to create a joint product, service, or marketing campaign that leverages the strengths and equity of each brand
An agreement whereby a company permits another organization to use its brand on other products for a licensing fee
Using similar packaging for all of a firm’s products or packaging that has one common design element
Providing identifying, promotional, or other information on package labels