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Marketing Unit 3 Vocabulary

Across
Situation in which a group of competitors gets together and set (fixes) the price for a specific product; then all agree to sell that product for the same price
Demand that changes with price
Market in which most of the potential customers who, need, want, and can afford a product have bought it
Business that buys products to resell to final consumers
Standards for manufacturer's suggested retail price, the price manufacturers recommend
All the types of products that a company sells
The middle range of quality in products
Aspect of a product that is better than the competitors products
Business that buys products from a producer, and then sells them to another business
Demand that is not effected by price
As a consumer consumes more units of the same product , the marginal utility from each unit goes down
An adequate level of quality in products
Characteristics of a product that can't be stored for later use
Down
Working model of the actual product
Channel of distribution that uses one or more intermediaries
Channel of distribution with no intermediaries
Additional satisfaction you get when you use an additional unit of the same product
Group of similar products, made by one company
Money that a business has left after all expenses and costs of running the business is paid
Introducing a new product to a small portion of the target market
Stages that a product or a product category goes through from it's beginning to it's end
The highest level of excellence in a product
Characteristics of something that exists but not physically
Written document stating the quality of a product and promising to correct specific problems that may occur
Describes an object that exists physically and can be touched