Go on. Explore!

lvl 0 • 0 xp

lvl 1

Home Market Decks Interests

MKT 301 - Ch. 11 - University of Louisville

memorize.ai (lvl 286)

(0)

30 cards

()

Section 1

Preview this deck

Awareness

Front

1 / 30

0.0

0 reviews

5			0
4			0
3			0
2			0
1			0

Active users

All-time users

Favorites

Last updated

6 years ago

Date created

Mar 1, 2020

Cards (30)

Section 1

(30 cards)

Awareness

Front

buyer becomes aware of product

Back

Raw Materials

Front

basic natural materials that become part of a physical product

Back

Shopping Products

Front

items for which buyers are willing to expend considerable effort in planning and making purchases

Back

Late Majority

Front

skeptics who adopt new products when they feel it is necessary

Back

Installations

Front

facilities and non-portable major equipment

Back

Decline Stage

Front

the stage of a product's life cycle when sales fall rapidly

Back

Introduction Stage

Front

the initial stage of a product's life cycle; its first appearance in the marketplace when sales start at zero and profits are negative

Back

Early Majority

Front

individuals who adopt a new product just prior to the average person

Back

Adoption

Front

buyer purchases product and can be expected to use again when need arises

Back

Service

Front

an intangible result of the application of human and mechanical efforts to people or objects

Back

Idea

Front

a concept, philosophy, image or issue

Back

Component Parts

Front

items that become part of the physical product and are either finished items ready for assembly or items that need little processing before assembly

Back

Product Life Cycle

Front

the progression of a product through four stages: introduction, growth, maturity and decline

Back

Interest

Front

buyer seeks information and is receptive to learning about product

Back

Good

Front

a tangible physical entity

Back

Laggards

Front

the last adopters, who distrust new products

Back

Trial

Front

buyer examines, tests, or tries the product to determine if its meets the need

Back

Innovators

Front

first adopters of new products

Back

Consumer Products

Front

products purchased to satisfy personal and family needs

Back

Process Materials

Front

materials that are used directly in the production of other products but are not readily identifiable

Back

Growth Stage

Front

the product life-cycle stage when sales rise rapidly, profits reach a peak, and then they start to declineq

Back

Product Adoption Process

Front

the five-stage process of buyer acceptance of a product: awareness, interest, evaluation, trial and adoption

Back

Specialty Products

Front

items with unique characteristics that buyers are willing to expend considerable effort to obtain

Back

Convenience Products

Front

relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort

Back

Business Products

Front

products bought to use in a firm's operations, to resell, or to make other products

Back

Early Adopters

Front

people who adopt new products early, choose new products carefully, and are viewed as "the people to check with" by later adopters

Back

Evaluation

Front

buyer considers the product's benefits and decides whether to try it, considering value versus competition

Back

Maturity Stage

Front

the stage of a product's life cycle when the sales curve peaks and starts to decline, and profits continue to fall

Back

Unsought Products

Front

products purchased to solve a sudden problem, products of which customers are unaware, and products that people do not necessarily think of buying

Back

Accessory Equipment

Front

equipment that does not become part of the final physical product but is used in production of office activities

Back