Chapter 9 - Product, Branding, and Packaging decisions

Question 1

what are core customer values?

Answer 1

The basic problem-solving benefits that consumers are seeking.

Question 2

associated services (augmented product)

Answer 2

the non-physical attributes of the product including product warranties, financing, product support, and after-sale service

Question 3

Brand association

Answer 3

the linking of a brand to other favorable images

Question 4

brand awareness

Answer 4

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, logo, symbol, character, packaging, or slogan) in the firm’s communications to consumers.

Question 5

brand dilution

Answer 5

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

Question 6

brand equity

Answer 6

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 7

brand extension

Answer 7

extending an existing brand name to new product categories

Question 8

brand licensing

Answer 8

a contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee

Question 9

brand loyalty

Answer 9

consistent preference for one brand over all others

Question 10

brand personality

Answer 10

a set of human characteristics associated with a brand name

Question 11

brands

Answer 11

names generally assigned to a good or service or a group of complementary products

Question 12

cobranding

Answer 12

practise of marketing two or more brands together

Question 13

consumer products

Answer 13

products and services used by people for their personal use

Question 14

convenience goods

Answer 14

Inexpensive items that consumers purchase regularly without much thought

Question 15

family brand

Answer 15

use of a combination of company and individual brand name

Question 16

generic

Answer 16

a product sold without a brand name

Question 17

individual brand

Answer 17

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

Question 18

manufacturer brand

Answer 18

A brand owned by the producer of the product

Question 19

perceived value

Answer 19

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

Question 20

product category

Answer 20

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

Question 21

product line depth

Answer 21

he number of items in the product line

Question 22

product lines

Answer 22

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

Question 23

product mix

Answer 23

the complete set of all products offered by a firm

Question 24

product mix breadth

Answer 24

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

Question 25

shopping goods

Answer 25

Items purchased after comparing prices and features.

Question 26

specialty goods

Answer 26

goods that are not mass-produced but rather assembled individually or in small quantities

Question 27

stock keeping units

Answer 27

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

Question 28

Types of Products

Answer 28

specialty, shopping, convenience, unsought

Question 29

unsought products

Answer 29

products consumers either do not normally think of buying or do not know about

Question 30

Increase/Decrease Breadth/Depth

Answer 30

increase breadth: add new product lines
increase depth: add new products within a line eg. doritos locos taco

Question 31

Value of Branding

Answer 31

facilitate purchasing, establish loyalty, protect from competition, reduce marketing costs, are assets, impact market value

Question 32

Brand equity (4)

Answer 32

brand awareness, perceived value, brand associations, brand loyalty

Question 33

brand ownership strategies (3)

Answer 33

manufacturer brands, store or private label, generic

Question 34

Brand Name Strategies

Answer 34

Family brand names
- individual brand names
- combination brand names

Question 35

How does packaging and labelling contribute to a firms overall strategy?

Answer 35

package holds the product and the label provides product information

Question 36

Breadth

Answer 36

number of product lines

Ex: Oral Care, Personal Care, Home Care, Pet nutrition

Question 37

Depth

Answer 37

Number of products within a product line