marketing ch.11 Flashcards
Primary demand
the desire for hte product class rather than for a specific brand
selective demand
the preference for a specific brand
skimming
high prices to attract competitors
penetration pricing
low prices to discourage competitive entry
growth stage
increases in sales
maturity stage
slowing of total sales
decline stage
sales drop
Deletion
dropping the product from the company’s product line
Harvesting
when a company retains the product but reduces marketing costs
High learning product
- one where significant consumer learning is required has extended introductory period
Low learning products
shortened introductory period
Fashion produc
introduced, decline the seem to return.
Fad
experiences rapid sales in intro then rapid decline
Product class
refers to entire product category/industry
Product form
variations within the product class
Diffusion of innovation
product diffuses or spreads through the population
Product Modification-
involves altering one or more of a products characteristics such as quality performance or appearance to increase the products value to increase sales.
Market Modification
a company tries to find new customers, increase a products use among existing customers or create new use situations
Repositioning the Product
changes the place a product occupies in a consumers mind relative to competitive products.
Trading up
involves adding value to the product through additional features or higher quality materials.
Branding
uses a name/phrase/design/symbols to identify its products and distinguish from competitors
Brand Name
any word, device used to distinguish a sellers goods/services
Trade Name
commercial/legal name under which company DBA
Brand personality
set of human characteristics associated with brand name
Brand Equity
the added value a brand names gives a product
Brand licensing
contractual agreement whereby one company allows its brand names/trademarks to be used with products/services offered by another company for a fee.
Multiproduct Branding
company uses one name for all its products within a product class. “family branding” “corporate branding” (ex. Microsoft, GE)
Subbranding
combines corporate/family brand with a new brand . (G2)
Co-branding
the pairing of two brand names
Multibranding Strategy
involves giving each product a distinct name. Good when each good is for a different segment.
Fighting brands
used as defensive moves to confront competitors brands
Private Branding Strategy
manufacturers products but sells them under the brand name of a wholesaler/retailer. (items at RadioShack)
Mixed Braning Strategy
where a firm markets product under its own name and that of a resaler because the two segments are different.
