Textbook Chapters 11-12-14-15-16 Flashcards
C11: What is a product?
Product
Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.
C11: What is a core customer value?
Core customer value
The basic problem-solving benefits that consumers are seeking.
C11: What is an actual product?
Actual product
The physical attributes of a product including the brand name, features/design, quality level, and packaging.
C11: What is are associated services/augmented product?
Associated services (also called augmented product)
The nonphysical attributes of the product including product warranties, financing, product support, and after-sale service.
C11: What is a consumer product?
Consumer product
Products and services used by people for their personal use.
C11: What is are specialty products/services?
Specialty products/ services
Products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers.
C11: What are shopping products/services?
Shopping products/ services
Those for which consumers will spend time comparing alternatives, such as apparel, fragrances, and appliances.
C11: What are convenience products/services?
Convenience products/services
Those for which the consumer is not willing to spend any effort to evaluate prior to purchase.
C11: What are unsought products/services?
Unsought products/ services
Products or services consumers either do not normally think of buying or do not know about.
C11: What is a product mix?
Product mix
The complete set of all products offered by a firm.
C11: What are product lines?
Product lines
Groups of associated items, such as those that consumers use together or think of as part of a group of similar products.
C11: What in breadth?
Breadth
Number of product lines offered by a firm; also known as variety.
C11: What is depth?
Depth
The number of categories within a product line.
C11: What is brand equity?
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.
C11: What is brand awareness?
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.
C11: What is the perceived value?
Perceived value
The relationship between a product’s or service’s benefits and its cost.
C11: What is brand association?
Brand association
The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.
C11: What is brand loyalty?
Brand loyalty
Occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buying from multiple suppliers within the same category.
C11: What are manufacturer brands (national brands)?
Manufacturer brands (national brands)
Brands owned and managed by the manufacturer.
C11: What are retailer/store brands?
Retailer/store brands
Products developed by retailers. Also called private-label brands.
C11: What are private-label brands?
Private-label brands
Brands developed and marketed by a retailer and available only from that retailer; also called store brands.
C11: What is a family brand?
Family brand
A firm’s own corporate name used to brand its product lines and products.
C11: What are individual brands?
Individual brands
The use of individual brand names for each of a firm’s products.
C11: What is brand extension?
Brand extension
The use of the same brand name for new products being introduced to the same or new markets