ch. 10 marketing
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Created by:
hgfranklin-mit on December 13, 2010
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37 terms
Terms | Definitions |
|---|---|
 product | everthing, both favorable and unfavorable, that a person receives in an exchange |
| business product (industrial product) | a product used to manufacture other goods or services, to facilitate an organizations operations, or to resell to other customers. |
| consumer product | a product bought to satisfy an individuals personal wants |
| convenience product | a relatively inexpensive item that merits little shopping effort |
| shopping products | a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores |
| specialty product | a particular item consumers search extensively for and are very reluctant to accept substitutes |
| unsought product | a product unknown to the potential buyer or a known product that the buyer does not actively seek |
| product item | a specific version of a product that can be designated as a distinct offering among an organization's products |
| product line | a group of closely related product items |
| product mix | all products that an organization sells |
| product mix width | the number of product lines an organization offers |
| product line depth | the number of product items in a product line |
| product modification | changing one or more of a product's characteristics |
| planned obsolescence | the practice of modifying products so those that have already been sold become obsolete before they actually need replacement |
| product line extension | adding additional products to an existing product line in order to compete more broadly in the industry |
| brand | name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors products |
| brand name | the part of a brand that can be spoken, including letters, words, and numbers |
| brand mark | the elements of a brand that cannot be spoken |
| brand equity | the value of company and brand names |
| global brand | brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data. |
| brand loyalty | consistent preference for one brand over all others |
| generic product | a no frills, no brand name low cost product that is simply identified by its product category |
| manufacturers brand | the brand name of a manufacturer |
| private brand | a brand name owned by a wholesaler or a retailer |
| captive brand | a brand manufactured by a third party for an exclusive retailer, without evidence of that retailers affiliation |
| individual branding | using different brand names for different products |
| family brand | marketing several different products under the same brand name |
| cobranding | placing two or more brand names on a product or its package |
| trademark | the exclusive right to use a brand or part of a brand |
| service mark | a trademark for a service |
| generic product name | identifies a product by class or type and cannot be trademarked |
| persuasive labeling | a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary |
| informational labeling | a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase |
| universal product codes (UPCs) | series of thick and thin vertical lines, readable by computerized optical scanners that represent numbers used to track products |
| warranty | a confirmation of the quality or performance of a good or service |
| express warranty | a written guarentee |
| implied warranty | an unwritten guarantee that the good or service is fit for the purpose for which it was sold |
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