Chapter 10

Front 1

accessory equipment

Back 1

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

Front 2

brand

Back 2

A name, term, design, symbol, or any other feature that identifies one marketer’s product as distinct from those of other marketers

Front 3

brand equity

Back 3

The marketing and financial value associated with a brand’s strength in a market

Front 4

brand extension

Back 4

Using an existing brand to brand a new product in a different product category

Front 5

brand insistence

Back 5

The degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute

Front 6

brand licensing

Back 6

An agreement whereby a company permits another organization to use its brand on other products for a licensing fee

Front 7

brand loyalty

Back 7

A customer’s favorable attitude toward a specific brand

Front 8

brand mark

Back 8

The part of a brand not made up of words

Front 9

brand name

Back 9

The part of a brand that can be spoken

Front 10

brand preference

Back 10

The degree of brand loyalty in which a customer prefers one brand over competitive offerings

Front 11

brand recognition

Back 11

A customer’s awareness that the brand exists and is an alternative purchase

Front 12

business products

Back 12

Products bought to use in an organization’s operations, to resell, or to make other products

Front 13

business services

Back 13

The intangible products that many organizations use in their operations

Front 14

co-branding

Back 14

Using two or more brands on one product

Front 15

component parts

Back 15

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

Front 16

consumer products

Back 16

Products purchased to satisfy personal and family needs

Front 17

convenience products

Back 17

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

Front 18

decline stage

Back 18

The stage of a product’s life cycle when sales fall rapidly

Front 19

depth of product mix

Back 19

The average number of different product items offered in each product line

Front 20

early adopters

Back 20

Careful choosers of new products

Front 21

early majority

Back 21

Those adopting new products just before the average person

Front 22

family branding

Back 22

Branding all of a firm’s products with the same name

Front 23

family packaging

Back 23

Using similar packaging for all of a firm’s products or packaging that has one common design element

Front 24

generic brands

Back 24

Brands indicating only the product category

Front 25

good

Back 25

A tangible physical entity

Front 26

growth stage

Back 26

The stage of a product’s life cycle when sales rise rapidly and profits reach a peak and then start to decline

Front 27

idea

Back 27

A concept, philosophy, image, or issue

Front 28

individual branding

Back 28

A policy of naming each product differently

Front 29

innovators

Back 29

First adopters of new products

Front 30

installations

Back 30

Facilities and nonportable major equipment

Front 31

introduction stage

Back 31

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

Front 32

labeling

Back 32

Providing identifying, promotional, or other information on package labels

Front 33

laggards

Back 33

The last adopters, who distrust new products

Front 34

late majority

Back 34

Skeptics who adopt new products when they feel it is necessary

Front 35

manufacturer brands

Back 35

Brands initiated by producers

Front 36

maturity stage

Back 36

The stage of a product’s life cycle when the sales curve peaks and starts to decline as profits continue to fall

Front 37

MRO supplies

Back 37

Maintenance, repair, and operating items that facilitate production and operations but do not become part of the finished product

Front 38

private distributor brands

Back 38

Brands initiated and owned by resellers

Front 39

process materials

Back 39

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

Front 40

product adoption process

Back 40

The stages buyers go through in accepting a product

Front 41

product item

Back 41

A specific version of a product that can be designated as a distinct offering among a firm’s products

Front 42

product life cycle

Back 42

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

Front 43

product line

Back 43

A group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations

Front 44

product mix

Back 44

The total group of products that an organization makes available to customers

Front 45

raw materials

Back 45

Basic natural materials that become part of a physical product

Front 46

service

Back 46

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

Front 47

shopping products

Back 47

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

Front 48

specialty products

Back 48

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

Front 49

trade name

Back 49

Full legal name of an organization

Front 50

trademark

Back 50

A legal designation of exclusive use of a brand

Front 51

unsought products

Back 51

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

Front 52

width of product mix

Back 52

The number of product lines a company offers