Marketing Chapter 9: Product Concepts

Front 1

Product

Back 1

Everything, both favorable and unfavorable, that a person receives in an exchange.

Front 2

Business Product (industrial product)

Back 2

A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other consumers.

Front 3

Consumer Product

Back 3

A product bought to satisfy an individual's personal wants.

Front 4

Convenience Product

Back 4

A relatively inexpensive item that merits little shopping effort.

Front 5

Shopping Product

Back 5

A product that requires comparison shopping because it is usually more expensive than a convenience product and it found in fewer stores.

Front 6

Specialty Product

Back 6

A particular item that consumers search extensively for and are very reluctant to accept substitutes for.

Front 7

Unsought Product

Back 7

A product unknown to the potential buyer or a known product that the buyer does not actively seek.

Front 8

Product Item

Back 8

A specific version of a product that can be designated as a distinct offering among an organization's products.

Front 9

Product Line

Back 9

A group of closely related product items.

Front 10

Product Mix

Back 10

All products that an organization sells.

Front 11

Product Mix Width

Back 11

The number of product lines an organization offers.

Front 12

Product Line Depth

Back 12

The number of product items in a product line.

Front 13

Product Modification

Back 13

Changing on or more of a product's characteristics.

Front 14

Planned Obsolescence

Back 14

The practice of modifying products so those that have already been sold become obsolete before they actually need replacement.

Front 15

Product Line Extension

Back 15

Adding additional products to an existing product line in order to compete more broadly in the industry.

Front 16

Brand

Back 16

A name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products.

Front 17

Brand Name

Back 17

The part of a brand that can be spoken, including letters, words, and numbers.

Front 18

Brand Mark

Back 18

The elements of a brand that cannot be spoken.

Front 19

Brand Equity

Back 19

The value of company and brand names.

Front 20

Global Brand

Back 20

A brand where at least 20 percent of the product is sold outside its home country or region..

Front 21

Brand Loyalty

Back 21

A consistent preference for one brand over all others.

Front 22

Generic Product

Back 22

A no-frills, no-brand-name, low cost product that is simply identified by its product category.

Front 23

Manufacturer's brand

Back 23

The brand name of a manufacturer.

Front 24

Private Brand

Back 24

A brand name owned by a wholesaler or a retailer.

Front 25

Individual Branding

Back 25

Using different brand names for different products.

Front 26

Family Brand

Back 26

Marketing several different products under the same brand name.

Front 27

Cobranding

Back 27

Placing two or more brand names on a product or package.

Front 28

Trademark

Back 28

The exclusive right to use a brand or a part of a brand.

Front 29

Service Mark

Back 29

A trademark for a service.

Front 30

Generic Product Name

Back 30

Identifies a product by class or type and cannot by trademarked.

Front 31

Persuasive Labeling

Back 31

A type of package labeling that focuses on a promotional theme or logo and consumer information is secondary.

Front 32

Informational Labeling

Back 32

A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.

Front 33

Universal Product Codes (UPC's)

Back 33

A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products.

Front 34

Warranty

Back 34

A confirmation of the quality or performance of a good or service.

Front 35

Express Warranty

Back 35

A written guarantee.

Front 36

Implied Warranty

Back 36

An unwritten guarantee that the good or service is fit for the purpose for which it was sold.