product and branding decision Flashcards
components of a product
core product/customer value
actual product
augmented product
what is included under products
physical products persons services places organisations ideas
types of consumer products (4)
convenience products
shopping products
speciality products
unsought products
product mix decisions consistency (2)
breadth
depth
what is meant by breadth
number of different product lines
what is meant by depth
total number of items within the line
what does stretching refer to in product line decisions
lengthen beyond current range
2-way stretch possible
upward - toyota moving to larger cars
Amani
what does filling refer to in product line decisions
fill the gaps to keep our competitors or match them closely
Which company had bad ethical consideration regarding depth
Nurofen
advantages that brand provides
facilitate purchasing establishes loyalty protects from competition is an asset affects market value
what is brand equity
comprises brand awareness, associations, loyalty and the concept of perceived value
what is Apples brand value
178.1B
branding strategies (6)
brand ownership brand extension new brands and multibrands co-branding brand licensing brand repositioning or rebranding
how does packaging determine success (5)
catches attention provides a competitive advantage special uses product safety smaller package = hidden higher price
