CH 13 -- Develop and Manage Brand and Product Categories Flashcards
Brand
Name, term, symbol, design, or some combinations that identifies the products of one firm while differentiation them from those of the competition
Brand Recognizition
Consumer awareness and identification of a brand.
Brand Preference
Consumer choice of a product on the basis of a previous experience
Brand Insitence
Consumer refusal of alternatives and extensive search for merchandise
Generic Products
Products characterized by plain labels, no advertising, and the absence of brand names
Manufacturer’s Brand
Brand name owned by a manufacturer or other producer
Private Brand
Brand offered by a wholesaler or retailer
Captive Brand
National brand sold exclusively by a retail chain
Family Brand
Single brand name that identifies several related products
Individual Brand
Single brand that uniquely identifies a product
Brand Equity
Added value that a respected, well-known brand names gives to a product in the marketplace
Brand Manager
Marketer responsible for a single brand
Category Management
Product management system in which a category manager– with profit and loss responsibility– oversees product line
Brand Name
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
Brand Mark
Symbol or pictorial design that distinguishes a product
Trademark
Brand for which the owner claims exclusive legal protection
Trade Dress
Visual component that contribute to the overall look of the brand
Label
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
Universal Product Code
Numerical bar code system used to record product and price information
Brand Extension
Strategy of attaching a popular brand name to a new product in an unrelated product category
Line Extension
Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line
Brand Licensing
Practice that expands a firm’s exposure in the marketplace
Market Penetration Strategy
Strategy that seeks to increase sales of existing products in existing markets.
Product Positioning
Consumers’ perceptions of a product’s attributes, uses, quality, and advantages and disadvantages relative to competing brands
Market Development Strategy
Strategy that concentrates on finding new markets for existing products
Product Development
Introduction of new products into identifiable or established markets
Products diversification Strategy
Developing entirely new products for new markets
Cannibalization
Loss of sales of an existing product due to competition from a new product in the same line
Adoption Process
Stages consumers go through in learning about a new product, trying it, and deciding whether to purchase it again
Consumer Innovator
Someone who purchases a new product almost as soon as the product reaches the market
Diffusion process
Process by which new goods or sevices are accepted in the marketplace
Product Manager
Marketers responsible for an individual product or product line; also called a brand manager
Venture Team
Group of associates from different areas of an organization who work together in developing new prodcuts
Concept Testing
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
Product Liability
Responsibility of manufacturers and marketers for injuries and damages caused by their prodcuts
