Chapter 9 Flashcards
associated services (or augmented products)
The nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service.
brand association
The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.
brand awareness
Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, log, symbol, character, packaging, or slogan) in the firm’s communications to consumers.
brand dilution
Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
brand equity
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
brand extension
The use of the same brand name for new products being introduced to the same or new markets.
brand licensing
A contractual arrangement between firms, whereby one firm allows another to use its brand name, log, symbols, or characters in exchange for a negotiated fee.
brand loyalty
Occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buying from multiple suppliers within the same category.
brand personality
Refers to a set of human characteristics associated with a brand, which has symbolic or self-expressive meanings for consumers.
brands
The names, terms, designs, symbols, or any other features that identify one seller’s good or service as distinct from those of other sellers.
cobranding
The practice of marketing two or more brands together, on the same package or promotion.
consumer products
Products and services are used by people for their personal use.
convenience goods/services
Products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase.
core customer value
The basic problem-solving benefits that consumers are seeking.
family brand
The use of a combination of the company brand name and individual brand name to distinguish a firm’s products.
generic
A product sold without a brand name, typically in commodities markets.
individual brand
The use of individual brand names for each of a firm’s products.
manufacturer brands
Brands owned and managed by the manufacturer.
perceived value
The relationship between a product or service’s benefits and its cost.
private-label brands (store brands)
Brands developed and marketed by a retailer and available only from that retailer.
product category
An assortment of items that the customer sees as reasonable substitutes for one another.
product line depth
The number of products within a product line.
product lines
Groups of associated items, such as those that consumers use together or think of as part of a group of similar products.
product mix
The complete set of all products offered by a firm.
