CH 13 -- Develop and Manage Brand and Product Categories

Question 1

Brand

Answer 1

Name, term, symbol, design, or some combinations that identifies the products of one firm while differentiation them from those of the competition

Question 2

Brand Recognizition

Answer 2

Consumer awareness and identification of a brand.

Question 3

Brand Preference

Answer 3

Consumer choice of a product on the basis of a previous experience

Question 4

Brand Insitence

Answer 4

Consumer refusal of alternatives and extensive search for merchandise

Question 5

Generic Products

Answer 5

Products characterized by plain labels, no advertising, and the absence of brand names

Question 6

Manufacturer’s Brand

Answer 6

Brand name owned by a manufacturer or other producer

Question 7

Private Brand

Answer 7

Brand offered by a wholesaler or retailer

Question 8

Captive Brand

Answer 8

National brand sold exclusively by a retail chain

Question 9

Family Brand

Answer 9

Single brand name that identifies several related products

Question 10

Individual Brand

Answer 10

Single brand that uniquely identifies a product

Question 11

Brand Equity

Answer 11

Added value that a respected, well-known brand names gives to a product in the marketplace

Question 12

Brand Manager

Answer 12

Marketer responsible for a single brand

Question 13

Category Management

Answer 13

Product management system in which a category manager– with profit and loss responsibility– oversees product line

Question 14

Brand Name

Answer 14

Part of a brand, consisting of letters, numbers, or words, that can be spoken and that identifies and distinguishes a firm’s offerings from those of its competitors

Question 15

Brand Mark

Answer 15

Symbol or pictorial design that distinguishes a product

Question 16

Trademark

Answer 16

Brand for which the owner claims exclusive legal protection

Question 17

Trade Dress

Answer 17

Visual component that contribute to the overall look of the brand

Question 18

Label

Answer 18

Branding component that carries an item’s brand name or symbol the name and address of the manufacturer or distributor, information about the product, and recommended uses

Question 19

Universal Product Code

Answer 19

Numerical bar code system used to record product and price information

Question 20

Brand Extension

Answer 20

Strategy of attaching a popular brand name to a new product in an unrelated product category

Question 21

Line Extension

Answer 21

Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line

Question 22

Brand Licensing

Answer 22

Practice that expands a firm’s exposure in the marketplace

Question 23

Market Penetration Strategy

Answer 23

Strategy that seeks to increase sales of existing products in existing markets.

Question 24

Product Positioning

Answer 24

Consumers’ perceptions of a product’s attributes, uses, quality, and advantages and disadvantages relative to competing brands

Question 25

Market Development Strategy

Answer 25

Strategy that concentrates on finding new markets for existing products

Question 26

Product Development

Answer 26

Introduction of new products into identifiable or established markets

Question 27

Products diversification Strategy

Answer 27

Developing entirely new products for new markets

Question 28

Cannibalization

Answer 28

Loss of sales of an existing product due to competition from a new product in the same line

Question 29

Adoption Process

Answer 29

Stages consumers go through in learning about a new product, trying it, and deciding whether to purchase it again

Question 30

Consumer Innovator

Answer 30

Someone who purchases a new product almost as soon as the product reaches the market

Question 31

Diffusion process

Answer 31

Process by which new goods or sevices are accepted in the marketplace

Question 32

Product Manager

Answer 32

Marketers responsible for an individual product or product line; also called a brand manager

Question 33

Venture Team

Answer 33

Group of associates from different areas of an organization who work together in developing new prodcuts

Question 34

Concept Testing

Answer 34

Method for subjecting a product idea to additional study before actual development by involving consumers through focus groups, survey’s, in-store polling and similar strategies

Question 35

Product Liability

Answer 35

Responsibility of manufacturers and marketers for injuries and damages caused by their prodcuts