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36 Cards in this Set
- Front
- Back
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A philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace |
Product |
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A relatively inexpensive item that merits little shopping effort |
Convenience product |
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A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores |
Shopping product |
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A particular item for which consumers search extensively and are very reluctant to accept substitutes |
Specialty product |
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A product unknown to the potential buyer or a known product that the buyer does not actively seek |
Unsought product |
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A group of closely related product items |
Product line |
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A specific version of a product that can be designated as a distinct offering among an organization’s products |
Product item |
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All products that an organization sells |
Product mix |
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Changing one or more of a product’s characteristics |
Product modification |
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Adding additional products to an existing product line in order to compete more broadly in the industry |
Product line extension |
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The number of product lines an organization offers |
Product mix width |
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The number of product items in a product line |
Product line depth |
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A change in a product’s dependability or durability |
Quality modification |
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A change in a product’s versatility, effectiveness, convenience, or safety |
Functional modification |
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An aesthetic product change rather than a quality or functional change |
Style modification |
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Changing consumers’ perceptions of a brand |
Repositioning |
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A name, term, symbol, design, or combination there of that identifies the seller’s products and differentiate them from competitors’ products |
Brand |
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That part of a brand that can be spoken, including letters, words, and numbers |
Brand name |
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The elements of a brand that cannot be spoken |
Brand mark |
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The success of any business or consumer product depends in part on the target market’s ability to distinguish one product from another |
Branding |
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the value of a company or brand name |
Brand equity |
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Consistent preference for one brand over all others |
Brand loyalty |
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The brand name of the manufacturer |
Manufacturer’s brand |
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A brand name owned by a wholesaler or retailer |
Private brand |
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Using different brand names for different products |
Individual branding |
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Using different brand names for different products |
Individual branding |
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Placing two or more brand names on a product or its package |
Co-branding |
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The exclusive right to use a brand or part of a brand |
Trademark |
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A trademark for a service |
Service mark |
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Identify as a product by class or type and cannot be trademarked |
Generic product name |
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A Brand manufactured by a third-party for an exclusive retailer, without evidence of that retailer’s affiliation |
Captive brand |
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A brand name represents a product category in consumers’ minds, the result may be legal action where that brand name is declared to be a generic term |
Genericide |
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Appeal to one or more senses |
Sensory benefits |
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A perform an intended task effectively and effeciently |
Functional benefit |
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Provide or save customers things they value |
Resource benefit |
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Affect how customers respond emotionally |
Psychological benefit |
