Chapter 9

Question 1

Elements of Product Planning for Goods & Services

Answer 1

Product idea
Branding
Packaging
Warranty
Product classes

Question 2

the need-satisfying offering of a firm

Answer 2

Product

Product is the starting point of Marketing Mix

Question 3

Benefits of Product Lines

Answer 3

Advertising Economies
Package uniformity
Standardized components
Efficient sales and distribution
Equivalent quality

Question 4

That part of a brand that can be spoken, including letters, words, and numbers

Answer 4

Brand Name

Question 5

The elements of a brand that

Cannot be spoken

Answer 5

Brand Mark

Question 6

The value of company and brand names

Answer 6

Brand Equity

Question 7

A brand where at least a third of theearnings come from outside its home country

Answer 7

Global Brand

Question 8

Easy to label and identify
Product quality and best value
Dependable, widespread availability
Market price can be high
Economies of scale
Favorable shelf or display space

Answer 8

Conditions Favorable to Branding

Question 9

Types of Cobranding

Answer 9

Ingredient Branding
Cooperative branding
Complementary brand

Question 10

The Strategic Importance of Packaging

Answer 10

Packaging sends a message
Packaging can enhance the product
UPC codes speed handling
Packaging can lower distribution cost

Question 11

Contain and protect
Promote
Facilitate storage, use, and convenience
Facilitate recycling

Answer 11

Functions of Packaging

Question 12

Labeling

Aesthetics

Climate considerations

Answer 12

Global Issues in Packaging

Question 13

Attempting to give the impression of environmental friendliness whether or not it is environmentally friendly.

Answer 13

Greenwashing

Question 14

products meant for use in producing other products

A product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other customers

Answer 14

Business Product

Question 15

products meant for the final consumer

A product bought to satisfy an
individual’s personal wants

Answer 15

Consumer Product

Question 16

products a consumer needs but isn’t willing to spend much time or effort shopping for.

A relatively inexpensive item that merits little shopping effort

Answer 16

Convenience Product

Question 17

products that a consumer feels are worth the time and effort to compare with competing products

A product that requires comparison shopping, because it is usually more expensive and found in fewer stores

Answer 17

Shopping Product

Question 18

consumer products that the customer really wants and makes a special effort to find

A particular item for which consumers search extensively and are reluctant to accept substitutes

Answer 18

Specialty Product

Question 19

products that potential customers don’t yet want or know they can buy

A product unknown to the potential buyer or a known product that the buyer does not actively seek

Answer 19

Unsought Product

Question 20

a product’s ability to satisfy a customer’s needs or requirements

Answer 20

Quality

Question 21

Once you buy it you own it.

Answer 21

Tangible

physical good

Question 22

Can’t own it.

Answer 22

Intangible

service

Question 23

is the set of all products lines and individual products that a firm sells.

Answer 23

Product assortment

Question 24

is a set of individual products that are closely related

Answer 24

Product line

Question 25

is a particular product within a product line

Answer 25

Individual product

Question 26

the use of names, tems, symbols, or design- or a combination of these- to identify a product

Answer 26

Branding

Question 27

includes only those words, symbols, or marks that are legally registered for use by a single company

Answer 27

Trademark

Question 28

is the same as a trademark except that it refers to a service offering

Answer 28

Service mark

Question 29

means how well customers recognize and accept a company's brand.

Answer 29

Brand familiarity

Question 30

Five levels of Brand familiarity

Answer 30

``` Rejection Non-recognition Recognition Preference Insistence ```

Question 31

Means that potential customers won't buy a brand unless its image is changed

Answer 31

Brand rejection

Question 32

final consumers don't recognize a brand at all- even though intermediaries may use the brand name for identification and inventory control

Answer 32

Brand non-recognition

Question 33

customers remember the brand

Answer 33

Brand recognition

Question 34

target customers usually choose the brand over other brands, perhaps because of habit or favorable past experience.

Answer 34

Brand Preference

Question 35

customers insist on a firm's branded product and are willing to search for it

Answer 35

Brand insistence

Question 36

the value of a brand's overall strength in a market

Answer 36

Brand equity

Question 37

spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them.

Answer 37

Lanham Act

Question 38

the same brand name for several products- or individual brands for each product

Answer 38

Family brand

Question 39

a well-known brand that sellers pay a fee to use

Answer 39

Licensed brand

Question 40

separate brand names for each product- when it's important for the products to each have a separate identity, as when products vary in quality or type

Answer 40

individual brands

Question 41

products that have no brand at all other than identification of their contents and the manufacturer or intermediary

Answer 41

generic products

Question 42

are brands created by producers

Answer 42

manufacturer brands

Question 43

are brands created by intermediaries

Answer 43

Dealer brands/Private brands

Question 44

the competition between dealer brands and manufacturer brands

Answer 44

battle of the brands

Question 45

involves promoting, protecting, and enhancing the product

Answer 45

packaging

Question 46

identifies each product with marks readable by electronic scanners

Answer 46

universal product code (UPC)

Question 47

requires that consumer goods be clearly labeled in easy-to-understand terms to give consumers more information

Answer 47

Federal Fair Packaging and Labeling Act

Question 48

explains what the sellers promises about its product

Answer 48

warranty

Question 49

says that producers must provide a clearly written warranty if they choose to offer any warranty

Answer 49

Magnuson-Moss Act

Question 50

Four groups of Consumer products

Answer 50

Convenience Shopping Specialty Unsought

Question 51

products that are bought often quickly- as unplanned purchases- because of a strongly felt need.

Answer 51

Impulse products

Question 52

products that are bought often, routinely, and without much thought- like more packaged foods and household items

Answer 52

Staples

Question 53

shopping products the customer sees as basically the same and wants at the lowest price

Answer 53

homogeneous shopping products

Question 54

shopping products the customer sees different and wants to inspect for quality and suitability

Answer 54

heterogeneous shopping products

Question 55

products offering really new ideas that potential customers don't know about yet

Answer 55

New unsought products

Question 56

products- like gravestones, life insurance, and encyclopedias- that stay unsought but not unsought forever

Answer 56

Regularly unsought products

Question 57

the demand for businesses products derives form the demand for final consumer products

Answer 57

derived demand

Question 58

is a product whose total cost is treated as a business expense in the years it's purchased

Answer 58

expense item

Question 59

is a long-lasting product that can be used and depreciated for many years

Answer 59

capital item

Question 60

Classes of business products

Answer 60

``` Installations Accessories Raw materials Components Supplies Professional services ```

Question 61

such a buildings, land rights, and major equipment- are important capital items

Answer 61

installations

Question 62

are short-lived capital items- tools and equipment in production or office activities

Answer 62

Accessories

Question 63

are unprocessed expense items- logs, iron, and wheat

Answer 63

Raw materials

Question 64

grown by farmers- ex. cows, sugars, etc

Answer 64

Farm products

Question 65

products that occur in nature- timber, iron, oil and coal

Answer 65

Natural products

Question 66

are processed expense items that become part of a finished product

Answer 66

Component

Question 67

are expense item that do not become part of a finished product 1) maintenance 2) repair 3) operating supplies MRO supplies

Answer 67

supplies

Question 68

are specialized services that support a firm's operations

Answer 68

Professional Services