Chapter 11

Question 1

Product Life Cycle

Answer 1

Life cycle describes the stages a new product goes through in the Market Place, Intro, Growth, Maturity, and Deadline

Question 2

Market Modification

Answer 2

Strategies allow a company to find new customers, increase product use among customers, or new situations

Question 3

Trading Up

Answer 3

Adding value to the product through features and higher-quality material

Question 4

Trading Down

Answer 4

Reducing a products number of features, quality, or price

Question 5

Branding

Answer 5

Decisions as organization uses a name, phrase, design or symbol to identify its products and distinguish them from competition

Question 6

Brand Name

Answer 6

Any word, devise (design, color, shape, sound) of these used to distinguish a sellers goods

Question 7

Trade Name

Answer 7

A commercial, legal, name under which a company does business

Question 8

Trademark

Answer 8

Identifies that a firm has legally registered its brand name, so the firm has exclusive use, preventing others from using it.

Question 9

Brand Personally

Answer 9

Set of human characteristics associated with a brand name

Question 10

Brand Equity

Answer 10

Added value a brand name gives to a product beyond the functional benefits

Question 11

Brand Purpose

Answer 11

Reasons why brand exists, place it has in consumers lives, the solution it provides, and the brands role in making society better

Question 12

Brand Licensing

Answer 12

Contractual agreement whereby one company allows its brand name or trademark to be used with products offered by another company for a royalty fee

Question 13

Multi product Branding

Answer 13

Branding Strategy in which a company uses one name for all its products in a product class

Question 14

Multibranding

Answer 14

Branding strategy that involves giving each product a distinct name when a brand is intended for a different marketing segment

Question 15

Private Branding

Answer 15

When a manufacturer produces products but sells them under brand name of wholesalers or retailers

Question 16

Mixed Branding

Answer 16

When a firm markets product under its own name and that of a reseller because the segment attracted to the reseller is different from its own products

Question 17

Packaging

Answer 17

Component of a product refers to any container in which it is offered for sale on which label information conveyed

Question 18

Labeling

Answer 18

Integral part of the package and typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients

Question 19

Gatorade

Answer 19

Product in the Maturity Faze

Question 20

Introduction

Answer 20

Gain Awarness

Question 21

Growth

Answer 21

Stress Differentiation

Question 22

Maturity

Answer 22

Maintain Brand Loyalty

Question 23

Decline

Answer 23

Harvesting, Deletion