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Marketing Exam #2 > Chapter 9 > Flashcards

Chapter 9 Flashcards

1
Q

Elements of Product Planning for Goods & Services

A 
Product idea
Branding
Packaging
Warranty
Product classes
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2
Q

the need-satisfying offering of a firm

A

Product

Product is the starting point of Marketing Mix

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3
Q

Benefits of Product Lines

A 
Advertising Economies
Package uniformity
Standardized components
Efficient sales and distribution
Equivalent quality
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4
Q

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

A

Brand Name

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5
Q

The elements of a brand that

Cannot be spoken

A

Brand Mark

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6
Q

The value of company and brand names

A

Brand Equity

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7
Q

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

A

Global Brand

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8
Q 
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
A

Conditions Favorable to Branding

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9
Q

Types of Cobranding

A

Ingredient Branding
Cooperative branding
Complementary brand

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10
Q

The Strategic Importance of Packaging

A

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

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11
Q

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

A

Functions of Packaging

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12
Q

Labeling

Aesthetics

Climate considerations

A

Global Issues in Packaging

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13
Q

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

A

Greenwashing

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14
Q

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

A

Business Product

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15
Q

products meant for the final consumer

A product bought to satisfy an
individual’s personal wants

A

Consumer Product

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16
Q

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

A

Convenience Product

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17
Q

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

A

Shopping Product

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18
Q

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

A

Specialty Product

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19
Q

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

A

Unsought Product

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20
Q

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

A

Quality

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21
Q

Once you buy it you own it.

A

Tangible

physical good

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22
Q

Can’t own it.

A

Intangible

service

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23
Q

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

A

Product assortment

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24
Q

is a set of individual products that are closely related

A

Product line

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25
Q

is a particular product within a product line

A

Individual product

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26
Q

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

A

Branding

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27
Q

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

A

Trademark

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28
Q

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

A

Service mark

29
Q

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

A

Brand familiarity

30
Q

Five levels of Brand familiarity

A 
Rejection
Non-recognition
Recognition
Preference
Insistence
31
Q

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

A

Brand rejection

32
Q

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

A

Brand non-recognition

33
Q

customers remember the brand

A

Brand recognition

34
Q

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

A

Brand Preference

35
Q

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

A

Brand insistence

36
Q

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

A

Brand equity

37
Q

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

A

Lanham Act

38
Q

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

A

Family brand

39
Q

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

A

Licensed brand

40
Q

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

A

individual brands

41
Q

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

A

generic products

42
Q

are brands created by producers

A

manufacturer brands

43
Q

are brands created by intermediaries

A

Dealer brands/Private brands

44
Q

the competition between dealer brands and manufacturer brands

A

battle of the brands

45
Q

involves promoting, protecting, and enhancing the product

A

packaging

46
Q

identifies each product with marks readable by electronic scanners

A

universal product code (UPC)

47
Q

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

A

Federal Fair Packaging and Labeling Act

48
Q

explains what the sellers promises about its product

A

warranty

49
Q

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

A

Magnuson-Moss Act

50
Q

Four groups of Consumer products

A

Convenience
Shopping
Specialty
Unsought

51
Q

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

A

Impulse products

52
Q

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

A

Staples

53
Q

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

A

homogeneous shopping products

54
Q

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

A

heterogeneous shopping products

55
Q

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

A

New unsought products

56
Q

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

A

Regularly unsought products

57
Q

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

A

derived demand

58
Q

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

A

expense item

59
Q

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

A

capital item

60
Q

Classes of business products

A 
Installations
Accessories
Raw materials
Components
Supplies
Professional services
61
Q

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

A

installations

62
Q

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

A

Accessories

63
Q

are unprocessed expense items- logs, iron, and wheat

A

Raw materials

64
Q

grown by farmers- ex. cows, sugars, etc

A

Farm products

65
Q

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

A

Natural products

66
Q

are processed expense items that become part of a finished product

A

Component

67
Q

are expense item that do not become part of a finished product

1) maintenance
2) repair
3) operating supplies
MRO supplies

A

supplies

68
Q

are specialized services that support a firm’s operations

A

Professional Services

Marketing Exam #2 (5 decks)

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