Chapter 10

Question 1

Product:

Answer 1

everything, both favorable and unfavorable, that a person receives in an exchange

Question 2

Convenience Product:

Answer 2

A relatively inexpensive item that merits little shopping effort.

Question 3

Product Modification

Answer 3

Changing one or more of a products characteristics.

Question 4

Planned Obsolescence:

Answer 4

The practice of modifying products so those that have already been a sold become obsolete before they actually need replacement

Question 5

Product Line Extension:

Answer 5

Adding additional products to an existing product line in order to compete more broadly in the industry.

Question 6

Manufacturer’s Brand:

Answer 6

The brand name of a manufacturer

Question 7

Private Brand:

Answer 7

A brand name owned by a wholesaler or a retailer

Question 8

Captive Brand:

Answer 8

A brand manufactured by a third party for an exclusive retailer, without evidence of that retailer’s affiliation

Question 9

Individual Branding:

Answer 9

Using different brand names for different products

Question 10

Family Branding:

Answer 10

Marketing several different products under the same brand name.

Question 11

Co-Branding:

Answer 11

placing two or more brand names on a product or its package

Question 12

Shopping Product:

Answer 12

A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores

Question 13

Speciality Product:

Answer 13

A particular item for which consumers search extensively and are very reluctant to accept substitutes

Question 14

Unsought Product:

Answer 14

A product unknown to the potential buyer or a known product that the buyer does not actively seek

Question 15

Product Item:

Answer 15

A specific version of a product that can be designated as a distinct offering among an organization’s products

Question 16

Product Line:

Answer 16

A group of closely related product items

Question 17

Product Mix:

Answer 17

All products that an organization sells

Question 18

Product Mix Width:

Answer 18

The number of product lines an organization offers

Question 19

Product Line Depth:

Answer 19

The number of product items in a product line

Question 20

Brand:

Answer 20

A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products

Question 21

Brand Name:

Answer 21

That part of a brand that can be spoken, including letters, words, and numbers

Question 22

Brand Mark:

Answer 22

The elements of a brand that cannot be spoken

Question 23

Brand Equity:

Answer 23

The value of a company or brand name

Question 24

Global Brand:

Answer 24

A brand that obtains at least one third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data

Question 25

Brand Loyalty:

Answer 25

Consistent preference for one brand over all others

Question 26

Manufacture’s Brand:

Answer 26

The brand name of a manufacturer

Question 27

Private Brand:

Answer 27

A brand name owned by a wholesaler or a retailer

Question 28

Captive Brand:

Answer 28

A brand manufactured by a third party for an exclusive retailer, without evidence of that retailer’s affiliation

Question 29

Individual Branding:

Answer 29

Using different brand names for different products

Question 30

Family Branding:

Answer 30

Marketing several different products under the same brand name

Question 31

Co-Branding:

Answer 31

Placing two or more brand names on a product or its package.

Question 32

Trademark:

Answer 32

The exclusive right to use brand or part of a brand

Question 33

Service Mark:

Answer 33

A trademark for a service

Question 34

Generic Product Name:

Answer 34

Identifies a product by class or type and cannot be trademarked

Question 35

Persuasive Labeling:

Answer 35

A type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary

Question 36

Informational Labeling:

Answer 36

A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase

Question 37

Universal Product Codes:

Answer 37

A series of thick and thin vertical lines (bar codes) readable by computerized optical scanners that represent numbers used to track products

Question 38

Warranty:

Answer 38

A confirmation of the quality or performance of a good or service

Question 39

Express Warranty:

Answer 39

A written guarantee

Question 40

Implied Warranty:

Answer 40

An unwritten guarantee that the good or service is fit for the purpose for which it was sold