Ch. 11 Product, Branding, and Packaging Decisions

Question 0

Core Customer Value

Answer 0

Basic problem solving benefits that consumers are seeking

Question 1

Product

Answer 1

Anything of value to consumer and offered through voluntary marketing exchange

Question 2

Actual Product

Answer 2

Marketers convert core customer value >

Brand name, quality lvl, packaging, features/design

Question 3

Associated services or augmented product

Answer 3

Nonphysical aspects of product like,

Financing, prod warranties, prod support

Question 4

Consumer Products

Answer 4

Prods. & serv. used by people for their personal use

Question 5

Specialty Products/Services

Answer 5

Customers express a strong preference that they’ll expend considerable effort to search for best suppliers

Question 6

Shopping Products/Services

Answer 6

Products/Services consumers spend time comparing alternatives, like furniture, apparel, fragrances, appliances, travel

Question 7

Convenience Products/Services

Answer 7

Products/Services consumers don’t spend any effort to evaluate prior to purchase

Question 8

Unsought Products/Services

Answer 8

Products consumers don’t normally think of buying or don’t know about at all

Question 9

Product Mix

Answer 9

Complete set of all prods and serv offered by a firm

Question 10

Product Lines

Answer 10

Groups of associated items that consumers use together or think of as part of a group of similar products/services

Question 11

Breadth

Answer 11

of product lines offered by the firm

Question 12

Depth

Answer 12

Equals # of products within product line

Question 13

Increase Depth

Answer 13

Firms might add items to address changing consumer preferences or to preempt competitions while boosting sales

Question 14

Decrease Depth

Answer 14

Delete products within product line to realign firms resources

Question 15

Increase Breadth

Answer 15

Firms add new product lines to capture new or evolving markets and increase sales

Question 16

Decrease Breadth

Answer 16

Delete entire product lines to address changing market conditions or meet internal strategic priorities

Question 17

Brand Equity

Answer 17

Set of assets and liabilities linked to a brand that add or subtract from the value provided by product/service

Question 18

Brand Awareness

Answer 18

Measures how many consumers in a market are familiar w/ the brand, what it stands for and have an opinion about it

Question 19

Perceived Value

Answer 19

Relationship between a products/services benefits and its cost

Question 20

Brand Associations

Answer 20

Mental links consumers make between a brand and key product attributes, like a logo, slogan, or famous personality

Question 21

Brand Loyalty

Answer 21

Consumer buys same brands products/service repeatedly over time instead of other suppliers within same category

Question 22

Manufacturer Brands (or National Brands)

Answer 22

Owned and managed by manufacturer

Question 23

Retailer/Store Brands (or Private-Label Brands)

Answer 23

Products developed by retailers

Question 24

Family Brands

Answer 24

A firm can use its own corporate name to brand all its product lines and products - benefit from overall brand awareness associated w/ family name
EX: Kellogg’s incorporates company name into brand name Kellogg’s Rice Krispies

Question 25

Individual Brand

Answer 25

Names for each of its products

EX: Kellogg’s w/ Morningstar Farms, Famous Amos cookies, Cheez-Its

Question 26

Brand Extension

Answer 26

Use of same brand name in different product line

Question 27

Line Extension

Answer 27

Use of same brand name within same product line, and represents increase in product lines depth

Question 28

Brand Dilution

Answer 28

Brand extension affects consume perceptions about the attributes the core brand is believed to hold

Question 29

Co-branding

Answer 29

Marketing two or more brands together, on the same package, promotion, or store

Question 30

Brand Licensing

Answer 30

Contractual arrangement between firms, where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for negotiated fee

Question 31

Brand Repositioning or Rebranding

Answer 31

A strategy in which marketers change brands focus to target new markets or realign brands core emphasis w/ changing market preferences

Question 32

Primary Package

Answer 32

One the consumers uses, like toothpaste tube

Question 33

Secondary Package

Answer 33

Wrapper or exterior carton that contains primary package and provides UPC label used by retail scanners