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21 Cards in this Set
- Front
- Back
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product line |
a firm’s total product offering designed to satisfy a single need or desire of a group of target customers
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Product line length |
the number of product items in a product line |
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Full Line Strategy
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large number of variations in a product line
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Limited Line Strategy
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fewer product variations
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Product mix width |
the number of product lines an organization offers.
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Product quality |
the overall ability of a product to satisfy customer expectations
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TQM: Total Quality Management |
philosophy that calls for company-wide dedication to the development, maintenance, and continuous improvement of all aspects of the company’s operations |
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Branding |
major tool to distinguish our products from the competition |
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brand |
a name, a term, a symbol, or any other unique element of a product that identifies one firm’s product(s) and sets it apart from the competition |
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brand name |
the part of the brand that can be spoken, including letters, words, and numbers |
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trademark |
the legal term for a brand name, brand mark, or trade character.
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Brand equity |
a brand’s value to its organization over and above the value of the generic version of the product -provides competitive advantage |
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Sub-branding |
creating a secondary brand within a main brand that can help differentiate a product line
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Brand storytelling |
marketers seek to engage consumers with compelling stories about brands
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Licensing |
One firm sells the right to another to use a legally protected brand name for a specific purpose and for a specific period of time
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Co-branding: |
Two brands combine to create a new product, providing greater recognition or other strengths than either could achieve alone
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Ingredient branding |
increasing – where branded materials become component parts. |
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Customer mind-set metrics
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Awareness, attitudes, loyalty
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Product-market outcomes metrics
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Ability of the brand to charge a higher price than an unbranded equivalent
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Financial market metrics
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Purchase price of the brand if sold or acquired
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Revenue premium metric
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Compares brand revenue to the revenue generated by a similar unbranded private label product.
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