| A | B |
|---|
| marketing research – | finding solutions to problems through carefully designed studies involving customers. |
| product – | everything a business offers to satisfy a customer’s needs. |
| services – | activities that are consumed at the same time they are produced. |
| intangible- | something that has no physical form. |
| inseparable- | something that is consumed at the same time it is produced. |
| perishable- | the availability of a service to match the demand for the service at a specific time. |
| heterogeneous- | characterized by the differences in the type and quality of service provided. |
| money | customer must pay for a product or service. |
| distribution- | the locations and methods used to make a product or service available to the target market; determining the best ways for customers to locate, obtain, and use the products and services of an organization. |
| channel of distribution- | the route a product follows and the businesses involved in moving a product from the producer to the final consumer. |
| channel members- | businesses that take part in a channel of distribution. |
| applied research- | marketing research that studies existing products to develop design improvements or new product uses. |
| pure research- | research done without a specific product in mind with the goal of discovering new solutions to problems. |
| production process- | the activities, equipment, and resources needed to manufacture a product. |
| Continuous Process Improvement- | a way to make sure manufacturing processes are completed as effectively as possible, increasing the quality of work by reducing errors, inefficiencies, and waste (rather than waiting for a problem to occur, processes are continuously reviewed with the goal of finding ways to improve them.) |
| benchmark- | the best practices among all competitors. |
| contingent worker- | one who has no explicit or implicit contract for long-term employment. |
| intermediary- | business involved in selling goods and services of producers to consumers and other businesses. |
| service business- | business that carries out activities that are consumed by its customers. |
| What is manufacturing? | Manufacturing combines raw materials and processed goods into finished products. |
| What is materials processing? | Materials processing involves changing the form of raw materials so they can be consumed or used to make other products (example: refining crude oil to form gasoline and other petroleum products). |
| How is applied research different than pure research? | Applied research is conducted for existing products and pure research is conducted for possible new products. |
| What is an operational plan? | The operation plan identifies how work will be done, who will do it, and what resources will be needed. |
| What is meant by services being inseparable? | Services are consumed at the same time they are produced. |
| Why do companies encourage idea screening? | Idea screening develops a large number of product ideas and more possible selections. |
| How are services different than products? | Services are intangible and products are tangible. |
| Why have manufacturers implemented Continuous Process Improvement (CPI)? | CPI increases the quality of work by reducing errors, inefficiencies, and waste. |
