Chapter 8 Flashcards
Product:
The Need-satisfying offerings of a firm.
Quality:
A product’s ability to satisfy a customer’s needs or requirements.
Product Assortment:
The set of all product lines and individual products that a firm sells.
Product Line:
A set of individual products that are closely related.
Individual Product:
A particular product within a product line.
Branding:
The use of a name, term, symbol, or design to identiy a product.
Brand Name:
A world, letter, or a group of words or letters.
Trademark:
Includes only those words, symbols, or marks that are legally registered for use by a single company.
Service Mark:
The same as a trademark except that it refers to a service offering.
Brand Familiarity:
How well customers recognize and accept a company’s brand.
Brand Rejection:
When potential customers won’t buy a brand unless its image is changed.
Brand Nonrecognition:
Final consumers don’t recognize a brand at all, even though intermediaries may use the brand name for identification and inventory control.
Brand Recognition:
Customers remember the brand.
Brand Preference:
Target customers usually choose the brand over other brands, likely either because of habit or favorable past experience.
Brand Insistence:
Customers insist on a firm’s brandd product and are willing to search for it.
Brand Equity:
The value of a brand’s overall strength in the market.
Lanham Act:
Spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them.
Family Brand:
The same brand name for several products.
Licensed Brand:
A well-known brand that sellers pay a fee to use.
Individual Brands:
Separate brand names for each product.
Generic Products:
Products that have no brand at all other than identification of their contents and the manufacturer or intermediary.
