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- Consumer goods
- Goods purchased by individuals for their own personal use rather than for business or industrial use
- Convenience goods
- Consumer goods which consumers like to buy at a minimum of effort and at the most convenient location
- Form utility
- The ability of a good to satisfy some human need or want
- Grading
- A marketing function that assigns relative evaluative grades to a product based on a standard
- Industrial goods
- Goods sold to businesses for industrial use and industrial processing
- Marketing
- The function of business that directs the flow of goods and services from producer to consumer
- Marketing concept
- Two ideas. 1) marketing becomes the main management force in the company. 2) company becomes completely consumer oriented
- Place utility
- The value added to a product by transporting it to a place where it is needed
- Primary data
- First hand information gathered for use in marketing research
- Product life cycle
- The stages through which a product goes. the stages are: introduction, growth, maturity, and decline
- Secondary data
- Information gathered from existing records to be analyzed for marketing research
- Shopping goods
- Goods that most consumers feel quality and price justify comparative shopping for
- Specialty goods
- Goods that consumers make a special effort to purchase
- Time utility
- The value added to a product by storing it from manufacture time to demand time
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