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Marketing Chapter 11
Terms in this set (33)
core customer value
The basic problem solving benefits that consumers are seeking.
The physical attributes of a product including the brand name, features/design, quality level, and packaging.
(also called augmented product) The non-physical attributes of the product including product warranties, financing, product support, and after-sale service.
Products and services used by people for their personal use.
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.
Those for which consumers will spend time comparing alternatives, such as apparel, fragrances, and appliances.
Those for which the consumer is not willing to spend any effort to evaluate prior to purchase.
Products or services consumers either do not normally think of buying or do not know about.
-GPS when first introduced
The complete set of all products and services offered by a firm
Groups of associated items, such as those that consumers use together or think of as part of a group of similar products.
Number of product lines offered by a firm; also known as variety.
The number of categories within a product line.
the spoken component of branding, it can describe the product / service characteristics or composed of words invented ex: apple, comfort inn
URL's (uniform resource locators)
the location of pages on the internet
some ways in which brands add value for both customers and the firm
-brands facilitate purchases
-brands establish loyalty
-brands protect from competition and price competition
-brands are assets
-brands affect market value
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
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.
The relationship between a product's or service's benefits and its cost.
The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.
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.
4 reasons brand loyalty is important
-customer relationship management programs (loyalty points)
-marketing costs of reaching a loyal customer is cheap
-loyal customers tend to praise virtues of product (word of mouth)
-high level of brand loyalty insulates the firm from competition
manufacturer brands (national brands)
are owned and managed by the manufacturer. Some famous manufacturer brands are Nike, Coca-Cola, KitchenAid, and Sony.
Also called private-label brands, are products developed by retailers.
-food lion brand
A firm's own corporate name used to brand its product lines and products.
-Kellogg's frosted flakes, Kellogg's fruit loops
The use of individual brand names for each of a firm's products.
-Cheez-its owned by Kellogg's but doesnt use Kellogg's in name
The use of the same brand name for new products being introduced to the same or new markets.
-Crest selling toothbrushes, a toothpaste company
The use of the same brand name within the same product line and represents an increase in a product line's depth.
Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
-Cheeto's lip balm...failed
The practice of marketing two or more brands together, on the same package or promotion.
A contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee.
brand repositioning / rebranding
A strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences.
The packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms of storage, use, and consumption.
The wrapper or exterior carton that contains the primary package and provides the UPC label used by retail scanners; can contain additional product information that may not be available on the primary package.
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