Chapter 12 Flashcards
Marketing mix
All the activities that go into marketing a good or service: product, price,
promotion, place.
Unique selling point (USP)
The special feature of a product that differentiates it from the products of
competitors.
Brand name
The unique name of a product that distinguishes it from other brands
Brand image
The identity of a product that consumers can recognise and which gives it a
‘personality’ distinct from other products.
Packaging
The physical container or wrapping used for a product
Product life cycle
The stages the sales of a product pass through from introduction, growth,
maturity to decline.
Extension strategy
A way of keeping a product at the maturity stage of the life cycle and extending
the cycle.