Product & Service Strategy Part 2

Question 1

Brand Equity

Answer 1

The differential effect that knowing the brand name has on consumer response to the product or its marketing

Question 2

Co-Branding

Answer 2

The practice of using the established brand names of two different companies on the same product

Question 3

Line Extension

Answer 3

Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category

Question 4

Brand Extension

Answer 4

Extending an existing brand name to new product categories

Question 5

Co-Branding

Answer 5

A single product with more than one brand name

Question 6

Private Branding

Answer 6

A brand placed on products that a large manufacturer has created for a smaller retailer. The smaller retailer places their own private brand label on the final good created by the 3rd party manufacturer

Question 7

Line Filling

Answer 7

Increasing the number of products in an existing product line to take advantage of marketplace gaps and reduce competition

Question 8

Line Stretching

Answer 8

Increasing the number of products within an existing product range with similar products that have additional or different features

Question 9

Attributes

Answer 9

A quality or characteristic given to something