Slide 5 Flashcards
Product
anything that is offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want.
Service
product that consists of activities, benefits, or satisfactions and that is essentially intangible and no ownership
Product line
Groups of products, closely related they function in a similar manner, sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
Product mix
consists of all the product lines and items that a particular seller offers for sale.
Width Length Depth Consistency
Characteristics of a service
Intangibility
Inseparability
variability
perishability
Type of services
Government
Pvt not for profit
busi organizations
Brand Equity
effect the brand name has on a customer’s emotions, attitudes, and behaviors related to the product
classifications of consumer products
Convenience products, shopping products, specialty products, and unsought products.
industrial products
purchased for further processing or for use in conducting a business.
examples of convenience products
Newspapers, candy, and fast food.
brand positioning
positioning brands at any of three levels: attributes, benefits, and beliefs and values.
co-branding
using the established brand names of two different companies on the same product.
Brand Strategy Decisions
Positioning
Name Selection
Sponsorship
Development
Product lifecycle
product development
intro
growth
maturity
decline
