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30 Cards in this Set

  • Front
  • Back

Define a Product

Anything capable of satisfying customers needs

Difference between product and service

Products are: Tangible and can be produced without a customer

Services are: Inseparable, variable, perishable, and intangible

Define Branding

Process of distinguishing product offerings by developing distinctive names, packaging, and designs

Define product line

Group of brands that are closely related in terms of what they do and the benefits they provide. i.e. Samsungs laptop range

Depth of the product line depends on

The pattern of customer requirements (e.g. the number of segments in a market)

Competitors depth

Company resources

Define Product Mix

Total set of brands marketed in a company: the sum of the product lines offered

The width of the product mix can be gauged by:

The number of product lines an organisation offers

Brand Types

Manufacturer brands: created by the producers

Own Label: Created and owned by distributors, with an association with value

Fighter brands: To fight off new entrants and maintain market share (intel introducing Intel Celeron)

6 Reasons why strong brands are important

Enhances company value beyond the balance sheet

Barrier to competition

High profits due to premium positioning

Base for brand extensions

Quality Certification


Define brand equity

Soft measures of the strength of the brand in the marketplace

Includes customer allegiance, awareness, image, loyalty, affinity, and emotional ties

What is the core product?

Benefits that the product provides that distinguish it from the competition

What does the Actual product include?

Brand name






Augmented Product is:

Delivery and credit


After sales services


Product support

Factors for building a successful brand



Well-blended communications


Being first

Internal Marketing

Long-term perspective

6 factors of brand positioning

Brand heritage

Brand values

Brand assets (i.e. what makes it distinctive from others, through symbols, features, images, and relationships)

Brand personality

Brand reflection (i.e. how the brand relates to consumers self-image)

Brand name strategies

Family name (umbrella branding) goodwill attached to the brand benefits all brands

Individual brand names

Combination brand names (i.e. apple's iPod iPhone)

Criteria for choosing brand names

Evokes positive associations

Easy to pronounce and remember

Suggest products benefits

Be distinctive

Use numerals of alphanumerics when emphasising technology

Brand transferability (moving across geographical boundaries)

No legal issues

Reasons to rebrand

Meger or acquisition

Desire to create a new image or position in the marketplace

Sale or acquisition of parts of the business

Corporate strategy changes

Brand familiarity

International marketing considerations

Legal problems

Define brand extension

Use of an established brand name on a new brand within the same market

Define brand stretching

Extreme form of brand extension where the brand name is used for brands in unrelated markets

Advantages of brand extension

Reduces risk

Less costly than alternative launch strategies

Can benefit the core brand

Disadvantages of brand extension

Can lead to the cannibalization of existing brand

Bad publicity for one can affect the other

Credibility can be lost if you stretch too fa

Two types of product co-branding



Advantages of product co-branding

Add value and differentiation


Reduction of cost of product introduction

Risks of product co-branding

Loss of control

Loss of brand equity

Advantages of communication co-branding

Endorsement opportunities

Cost benefits

Awareness and interest gains

Promotional opportunities

Risk of communication co-branding

Loss of Control

Loss of brand equity

Ethical issues in branding

Product safety

Planned obsolescence (not lasting for a long time)

Deceptive packaging

4 causes of perceived poor quality service


Inadequate resources

Inadequate delivery

Exaggerated promises

3 ways to improve quality without impacting on productivity


customer involvement in the production

balancing supply and demand