Chapter 9 - Product, Branding, and Packaging decisions Flashcards
what are core customer values?
The basic problem-solving benefits that consumers are seeking.
associated services (augmented product)
the non-physical attributes of the product including product warranties, financing, product support, and after-sale service
Brand association
the linking of a brand to other favorable images
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, logo, 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
extending an existing brand name to new product categories
brand licensing
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
brand loyalty
consistent preference for one brand over all others
brand personality
a set of human characteristics associated with a brand name
brands
names generally assigned to a good or service or a group of complementary products
cobranding
practise of marketing two or more brands together
consumer products
products and services used by people for their personal use
convenience goods
Inexpensive items that consumers purchase regularly without much thought
family brand
use of a combination of company and individual brand name
generic
a product sold without a brand name
individual brand
the use of individual brand names for each of a firm’s products
manufacturer brand
A brand owned by the producer of the product
perceived value
the relationship between a product’s or service’s benefits and its cost
product category
an assortment of items that the customer sees as reasonable substitutes for one another
product line depth
he number of items in the 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
product mix breadth
The number of product lines, or variety, offered by the firm.
