Marketing 650 Midterm 2 - Chap 11 (Cont'd)

Front 1

explain the Lanham Act & the Trademark Counterfeit Act

Back 1

LA- act that protects trademarks
TCA- makes counterfeiting a federal offense w/ offenders subject to prison, damage payments, etc.

Front 2

waz da difference b/t brand personality & brand equity?

Back 2

BP- set of human char thatre associated w/ a brand name
BE- the added value a given brand name gives to a product beyond the functional benefits provided

Front 3

2 advantages brand equity gives

Back 3

1- a competititve advantage
2- consumers r often willling to pay a higher price 4 a prod w/ brand equity

Front 4

brand licensing

Back 4

when a company agrees to a contractual agreement where they allow their brand name or trademark to be used w/ products/services offered by another company

Front 5

4 branding strategies & purpose of each

Back 5

1- multiprod branding-> using one name for all a company's prod in a prod class
2- multibranding-> each prod in a comp gets their own individ name
3- private branding-> comp manufact prod but sells them under the brand name of a wholesaler or retailer
4- mixed branding->firm markets products under its own name & that of a reseller b/c the segment attracted to the reseller is defferent from its own market

Front 6

define warranty

Back 6

statement indicating the liability of the manufacturer for product deficiencies