Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Principles of Marketing > Chap 13* > Flashcards

Chap 13* Flashcards

1
Q

What is Brand?

A

name, term, sign, symbol, design, or some combination that identifies the products of one firm while differentiating them from competitors’ offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Branding

A

Is the process of creating strong identities for products and product lines

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is brand recognition?

A

consumer awareness and identification of a brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is brand preference?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is brand insistence?

A

consumer refusal of alternatives and extensive search for desired merchandise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Generic products

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Manufacturer’s brand

A

brand name owned by a manufacturer or other producer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Private brands

A

brands offered by wholesalers and retailers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Captive brands

A

national brands sold exclusively by a retail chain

  • Target’s sale of products by Michael Graves
  • kohl selling simply vera products
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Family brand

A

single brand name that identifies several related products

-ex. Kellogs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Individual brand

A

single brand that uniquely identifies a product

- one company that you wouldn’t recognize that has many brands underneath them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is brand equity?

A

added value that a respected, well-known brand name gives to a product in the marketplace

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How are products identified? (Product identification)

A

names, symbols, and distinctive packaging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Brand name?

A

part of the brand that can be spoken

- easy to pronounce, recognize, and remember

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are visual components related to?

A

color, size, package, label shapes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What 3 things do packaging serve?

A
  • PROTECTION against damage, spoilage and pilferage
  • MARKETING
  • COST EFFECTIVENESS ($ or $$$$ to produce)
17
Q

What is a label?

A

carries an item’s brand name or symbol,
name and address of the manufacturer or distributor,
info about products composition and size,
recommended uses

18
Q

What 2 choices do firms have when thinking of a brand name?

A
  • Use single brand name world wide

- Tailer name to individual countries

19
Q

Line extension

A

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

20
Q

What does brand licensing do for a firm?

A

expands exposure in marketplace

21
Q

Product development strategy - Market penetration

A

increase sales of existing products in existing markets

22
Q

Product Positioning

A

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

23
Q

Product development strategy - Market Development

A

concentrates on finding new markets for existing products

24
Q

Product development strategy - Product Diversification

A

focuses on developing entirely new products for new markets

25
Q

Product development strategy - Product Development

A

intro of new products into identifiable or established markets

26
Q

What is cannibalization?

A

introducing a new product that adversely affects sales of existing products

27
Q

What is the adoption process?

A

stages a consumer goes through in learning, trying and deciding whether to purchase again a new product

28
Q

Who are consumer innovators?

A

People who purchase new products almost as soon as the products reach the market.

29
Q

What is the diffusion process?

A

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

30
Q

Early purchasers can act as ____ _____ from whom others seek advice.

A

opinion leaders

31
Q

Another term for brand manager?

A

Product manager

  • set prices
  • develop advertising and sales promotion programs
  • work with sales reps in the field
32
Q

6 Steps in New Product Development

A
  1. Idea generation
  2. Screening
  3. Business Analysis
  4. Development
  5. Test Marketing
  6. Commercialization
33
Q

What is concept testing?

A

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

34
Q

*A company has introduced a new product in the market. The company distributes free samples of the product to people so that they can try it. This product is in the stage of ____ of brand loyalty.

A

brand recognition

35
Q

*The strategy of attaching a popular brand name to a new product in an unrelated (or related) product category is known as ______.

A

brand extension

line extension

36
Q

*The added value that a certain brand name gives to a product in the marketplace is called ______.

A

brand equity

Principles of Marketing (13 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions