Ch. 7 | Products and Brands

Question 1

what is a product?

Answer 1

product
it is a good, service, or an idea, consisting of tangible and intangible attributes

Question 2

the consumer market consists of 4 different categories of products, what are they?

Answer 2

• convenience
• shopping
• specialty
• unsought

Question 3

what are convenience products?
- list some examples

Answer 3

convenience products
they are inexpensive items that a consumer purchases frequently with minimal effort
- pop, gum, candy, bread

Question 4

what are shopping products?
- list some examples

Answer 4

shopping products
are items for which the consumer compares and assessing different attributes about a product and brand
- jeans, airline tickets, electronic devices

Question 5

what are specialty products?
- list some examples

Answer 5

specialty product
are items that require considerable time and effort to purchase, and tend to be more expensive
- rolex, LV, cruise, rolls royce

Question 6

what are unsought products?
- list some examples

Answer 6

unsought products
are items that the consumers does not know about (yet) or is not interested in purchasing
- hobby items

Question 7

there are 4 unique elements to services, what are they?

Answer 7

• intangibility
• inconsistency
• inseparability
• inventory

Question 8

what is meant by intangibilty in regard to the uniqueness of services?
- list some examples

Answer 8

intangibility
cannot be held, touched, or seen before a purchase - usually tends to be a service
- spa, game subscription

Question 9

what is meant by inconsistency in regard to the uniqueness of services?
- list some examples

Answer 9

inconsistency
delivery services is challenging because the quality of a service is dependent on the people who provide it, when, where, and how they provide it
- restaurant service, hotel service

Question 10

what is meant by inseparability in regard to the uniqueness of services?
- list some examples

Answer 10

inseparability
the consumer cannot (and does not) separate the deliverer of the service from the service itself
- the quality of a spa and its facilities may be excellent, but you’re not satisfied with the massage or it took too long to book

Question 11

what is meant by inventory in regard to the uniqueness of services?
- list some examples

Answer 11

inventory
inventory problems exist because services cannot necessarily be stored and accessed when in demand - they cannot be stored for a later sale or use
- sporting event: unsold tickets cannot be stored and sold at a later date

Question 12

The Total Product Concept

marketers view products as having 3 different layers, what are they and what do they entail?

Answer 12

1) core product layer
- the fundamental purpose or benefit

2) actual product layer
- the physical good or service

3) augmented product layer
- the additional features and attributes that accompany the product

Question 13

what is a product line?

Answer 13

product line
a group of similar products; that satisfy a similar need and are directed at the same general target market

• eg: Apple has a product line of iPhones, iPads, iWatches, etc.

Question 14

what is a product mix?

Answer 14

product mix
this consists of all the product lines marketed by a company

• eg: Coca-Cola offers several brands such as, minute maid, sprite, Fanta, etc.

Question 15

what does product mix width refer to?

Answer 15

to the number of different product lines offered by the company

eg: Proctor & Gamble’s width is 4. (beauty) (baby, feminine, and family care) (fabric and home care) (health and grooming)

Question 16

what does product line length refer to?

Answer 16

to the number of products or brands within the product line

eg: Proctor & Gamble’s “beauty” product line, there are 8 different products. (hair food, head & shoulders, herbal essence, ivory, olay, old spice, pantene, secret)

Question 17

what does product line depth refer to?

Answer 17

to the number of different versions of each product sold within its product lines
- the varieties of the product: sizes, flavours, colours, etc.

eg: Dawn dish soap: has 18 different versions offered

Question 18

what are the 5 “key dimensions” that define and determine the most influential brands in Canada, according to Ipsos Reid?

**Footnote
CLEPT

Answer 18

• trustworthiness
• engagement
• leading edge
• corporate citizenship
• presence

Question 19

According to Ipsos Reid’s 5 “key dimensions,” explain trustworthiness

Answer 19

trustworthiness
this encompasses the consistantly dependable image that consumers have for a brand and fosters their ongoing confidence in recommending it to others.
- considered the most important element for a brand

Question 20

According to Ipsos Reid’s 5 “key dimensions,” explain engagement

Answer 20

engagement
brands that engage consumers encourage brand loyalty by creating interactions, so consumers can learn more about a brand and share it with others

Question 21

According to Ipsos Reid’s 5 “key dimensions,” explain leading edge

Answer 21

leading edge
brands that stand out are often unique, innovated, and forward-thinking. Their approach tends to be edgy and somewhat different, and stands as a benchmark for other brands

Question 22

According to Ipsos Reid’s 5 “key dimensions,” explain corporate citizenship

Answer 22

corporate citizenship
brands that are caring have the ability to connect with consumers by instilling pride

Question 23

According to Ipsos Reid’s 5 “key dimensions,” explain presence

Answer 23

presence
brands need to have a high profile with consumers and stand out from the crowd
- often have many advocates that support them

Question 24

what is an individual brand?

Answer 24

individual brand
is when a company uses a brand name soley for a specific category

eg: “Tide” brand name, used by P&G only for laundry detergent

Question 25

what is a **family brand**?

Answer 25

**family brand** is when a company uses a brand name to cover a number of different product categories ## Footnote eg: "Crest" brand name, used by P&G for toothpaste, floss, teeth-witening, etc.

Question 26

what is a **brand extension**?

Answer 26

**brand extension** where the company's name is also the brand name - the same as a family brand, where the family brand is the actual brand name, and brand extension is the umbrella name for that ## Footnote eg: "Crest" by P&G is an effort of brand extension. "3M" also have brand extensions.

Question 27

what is a **sub-brand**?

Answer 27

**sub-brand** uses both the family brand name and its own brand name - when a business creates a secondary brand within its own brand ## Footnote eg: automobile industry. "Chevrolet Silverado" and the "Chevrolet Impala"

Question 28

what is a **copyright** used for?

Answer 28

**copyright** used to legally protect original written works, sound recordings, etc

Question 29

what is a **trademark** used for?

Answer 29

**trademark** used by people or organizations to protect brands, images, names, slogans, and designs

Question 30

what are **patents** used for?

Answer 30

**patents** used to legally protect new technologies, or improvements on products / processes

Question 31

what 5 things should a "good" brand name have in it's name?

Answer 31

- suggest the product benefits - be memorable, distinctive, positive - fit the company or product's image - have the ability to be legally protected - be simple

Question 32

- what are the 3 different types of brands? - what are they? - examples of each

Answer 32

**manufacturer** owned and produced by the manufacturer - Coca-cola, LG, Gravol **private label brand** owned by a retailer that contracts its manufacturing out to major suppliers and then sells the product at its own retail stores - "Life" brand at Shoppers - "Mastercraft" brand at CDN Tire **generic brand** no branding at all - commonly found in the pharmaceutical industry. - once a patent has expired for a prescription, many generic versions are made and sold to pharmacies - Crocs at Dollarama