Chapter 11

Question 0

Associated services(augmented product)

Answer 0

Non physical aspects of the product such as warranties financing support etc.

Question 1

Product

Answer 1

Anything of value to consumer and can be offered through voluntary marketing exchange

Question 2

Specialty product

Answer 2

Takes considerable effort example mountain bike

Question 3

Shopping product

Answer 3

Products you shop around for furniture appliances etc.

Question 4

Convenience products

Answer 4

Not willing to spend effort aka bread gum etc

Question 5

Unsought products

Answer 5

Not in consumers mind because not thinking of buying or not knowing of i

Question 6

Product mix

Answer 6

Complete set of all products

Question 7

Product line

Answer 7

Associated items consumers tend to use together or think of as part of a group of similar products

Question 8

Breadth

Answer 8

Refers to count of number of product lines offered

Question 9

Depth

Answer 9

Refers to number of products within a product line example Kellogg’s would have a product line of breakfast cereals and the count would be from apple jax kid corn flakes etc

Question 10

Increase depth

Answer 10

Firms add time to a product line to address changing consumer preferences or to preempt competitors

Question 11

Decrease depth

Answer 11

To combat low profit margins

Question 12

Decrease breadth

Answer 12

Necessary to delete entire product lines to focus on other e.g. Deleting bread to focus on milk

Question 13

Increasing breadth

Answer 13

New product lines to capture new or evolving markets adding a jam product line to compliment their bread

Question 14

How do brands impact market value

Answer 14

Direct impact on the company’s bottom line

Question 15

Brand equity

Answer 15

Set of assets and liabilities linked to a brand

Question 16

Brand awareness

Answer 16

How many consumers are familiar with it and what it stands for

Question 17

Perceived value

Answer 17

Relationship between a product or services benefit and it’s cost

Question 18

Brand associations

Answer 18

Mental links consumers make between a brand and it’s key product attributes such as logo slogan

Question 19

Brand loyalty

Answer 19

A consumer buys the same brands product or service repeatedly over time rather than the competitor

Question 20

Brand ownership

Answer 20

Manufacturer brands and store brands

Question 21

Examples of manufacturer brands

Answer 21

Nike kitchenaid Sony Panasonic

Question 22

Store brands private label

Answer 22

Cost os Kirkland signature

Walmart great value

Question 23

Family brands

Answer 23

Using corporate name to brand all product lines Kellogg’s Rice Krispies

Question 24

Individual brand name

Answer 24

Using own name for product line example proctor and gambles pepto bismol

Question 25

Brand extension

Answer 25

Colgate making toothbrushes even though they specializE in toothpaste

Question 26

Line extension

Answer 26

Same brand within product line

Question 27

Cons of brand extensions

Answer 27

Brand dilution

Question 28

Cobranding

Answer 28

Marketing two or more brands together on same package Fridays chicken wing froZen dinner

Question 29

Brand licensing

Answer 29

Allowing another firm use brand name fruit of the loom using ninja turtles shirts

Question 30

Rebranding

Answer 30

Changing brands focus to realign with core emphasis

Question 31

Primary packGe

Answer 31

One consumer uses such as the tube of paste

Question 32

Secondary package wrapper or exterior

Answer 32

Contains UPC product info