Match Each Item to the Statement or Sentence Listed Below

question 114

Essay

Match each item to the statement or sentence listed below.
a.marketing mix
b.benchmarking
c.product
d.convenience product
e.shopping product
f.specialty product
g.product line
h.product mix
i.unsought product
j.maturity stage
k.raw materials
l.total quality management
m.product life cycle
n.installations
-is a continuous effort to improve products and work processes.
2.The _____ is the blending of the four strategy elements to fit the needs and preferences of a target market.
3.Farm products and mineral products are examples of _____.
4.Firms often rely on _____ to set performance standards and achieve superior performance, resulting in a competitive advantage in the marketplace.
5.Sales of a product category continue to grow during the early part of the _____, but eventually reach a plateau as the backlog of potential customers dwindles.
6.A bundle of physical, service, and symbolic attributes is a(n) _____.
7.A product that is purchased frequently, immediately, and with minimal effort is classified as a(n) _____.
8.A(n) _____ is marketed to consumers who may not yet recognize the need for it.
9.A product that a consumer purchases after comparing competing offerings is called a(n) _____.
10.An assortment of product offerings sold by a firm is called the _____.
11.A(n) _____ offers unique characteristics that cause buyers to prize those particular brands.
12.A series of related products offered by one company is a(n) _____.
13.The specialty products of the business market are called _____.
14.A product will progress through four stages, called the _____.

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Definitions:

Theoretical Capacity

The highest level of activity that an entity can achieve under perfect operating conditions, ignoring any limitations such as maintenance or downtime.

Peak Efficiency

The highest level of performance or productivity with the least waste of resources.

Normal Operating Conditions

The usual environmental and operating conditions under which a piece of equipment or a facility is expected to operate.

Reciprocal Method

An accounting technique used for allocating service department costs to operating departments by incorporating the mutual services provided among all service departments.