Chapter 9

Question 1

associated services (or augmented products)

Answer 1

The nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service.

Question 2

brand association

Answer 2

The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.

Question 3

brand awareness

Answer 3

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.

Question 4

brand dilution

Answer 4

Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

Question 5

brand equity

Answer 5

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Question 6

brand extension

Answer 6

The use of the same brand name for new products being introduced to the same or new markets.

Question 7

brand licensing

Answer 7

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.

Question 8

brand loyalty

Answer 8

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.

Question 9

brand personality

Answer 9

Refers to a set of human characteristics associated with a brand, which has symbolic or self-expressive meanings for consumers.

Question 10

brands

Answer 10

The names, terms, designs, symbols, or any other features that identify one seller’s good or service as distinct from those of other sellers.

Question 11

cobranding

Answer 11

The practice of marketing two or more brands together, on the same package or promotion.

Question 12

consumer products

Answer 12

Products and services are used by people for their personal use.

Question 13

convenience goods/services

Answer 13

Products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase.

Question 14

core customer value

Answer 14

The basic problem-solving benefits that consumers are seeking.

Question 15

family brand

Answer 15

The use of a combination of the company brand name and individual brand name to distinguish a firm’s products.

Question 16

generic

Answer 16

A product sold without a brand name, typically in commodities markets.

Question 17

individual brand

Answer 17

The use of individual brand names for each of a firm’s products.

Question 18

manufacturer brands

Answer 18

Brands owned and managed by the manufacturer.

Question 19

perceived value

Answer 19

The relationship between a product or service’s benefits and its cost.

Question 20

private-label brands (store brands)

Answer 20

Brands developed and marketed by a retailer and available only from that retailer.

Question 21

product category

Answer 21

An assortment of items that the customer sees as reasonable substitutes for one another.

Question 22

product line depth

Answer 22

The number of products within a product line.

Question 23

product lines

Answer 23

Groups of associated items, such as those that consumers use together or think of as part of a group of similar products.

Question 24

product mix

Answer 24

The complete set of all products offered by a firm.

Question 25

product mix breadth

Answer 25

The number of product lines, or variety, offered by the firm.

Question 26

shopping goods/services

Answer 26

Products or services -such as apparel, fragrances, and appliances- for which consumers will spend time comparing alternatives.

Question 27

specialty goods/services

Answer 27

Products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers.

Question 28

stock-keeping units (SKUs)

Answer 28

Individual items within each product category; the smallest unit available for inventory control.