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Marketing Ch. 7

Terms in this set (21)

Actual Product
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Augmented Product
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Brands
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Brand Equity
The differential effect that knowing the brand name has on customer response to the product or its marketing.
With positive brand equity, customers react more favorably to the brand than to an unbranded version of the same product.
With negative brand equity, consumers react less favorably to the brand than to an unbranded version.
Consumer perception dimensions include:
-differentiation
-relevance
-knowledge
-esteem
Brand Extensions
Extending an existing brand name to new product categories.
Co-branding
The practice of using the established brand name of two different companies on the same product.
Consumer Products
Bought by final consumers for personal consumption.
Convenience Products
A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
Industrial Products
Bought by individuals and organizations for further processing or for use in conducting a business
-materials and parts, capital items, and supplies and services.
Interactive Marketing
Training service employees in the fine art of interacting with customers to satisfy their needs.
Licensing
Entering foreign markets through developing and agreement with a license in the foreign market.
Line Extensions
Extending an existing brand name to the new forms, colors, sizes, ingredients, or flavors of an existing product category.
Private (store) Brands
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Products & Product Lines
Closely related products that:
-have similar functions and customer groups
- are sold through similar outlets or fall within given price ranges.
Product line length-number of items in the product line
-product line filling
-product line stretching
Product Mix
Set of all product lines and items that a particular seller offers for sale

-Width: number of different product lines the company carries
-Length: total number of items a company carries within its product lines
-Depth: number of versions offered for each product in the line
-Consistency: relativity of the various product lines in the end use, production requirements, distribution channels, or some other aspect
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