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Chapter 30-31 Marketing, Marketing Test 30-31
Terms in this set (45)
Making decisions about the features and services of a product or idea that will help sell the product.
All the different products that a company makes or sells
A group of closely related products manufactured or sold by a business
The amount of items offered within each product line
The amount of one item offered within the product line
Product Life Cycle
The stages that a product goes through during its life cycle.
The efforts a business makes to identify, place, and sell its products
A word, name or symbol that identifies a good or service and cannot be used by anyone but the owner because it is registered with the federal government.
A branding strategy that uses an existing brand name to promote a new or improved product that gives the brand name, trademark, or logo.
Renting or leasing of an intangible asset. It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory.
Mixed Brand/Brand Mix
Refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.
A marketing partnership between at least two different brands of goods or services.
The information tag on a product or package that gives the brand name, trademark, or logo.
A label on the product which has the name of the product on which label is applied, the net weight of product, ingredients of the product, composition of product also any nutritional value or health hazard if any, address of the manufacturing unit, manufacturing date, product expiry date and price
new product development step 1
new product development step 2
new product development step 3
develop a business proposal
new product development step 4
develop the product
new product development step 5
test the product with customers
new product development step 6
introduce the product (commercialization)
new product development step 7
evaluate customer acceptance
components of a product
-expand product offerings by adding new product lines, items, or services (may or may not be related to current products)
-intended to be a different product that appeals to somewhat different needs of customers
-more choices=more product depth
-an alteration in a company's existing product
-offered in new and different varieties, formulations, colors, styles, features, or sizes
-relatively quick and easy way to add new products to a company's product line
line extensions and product modifications
-add/change a products
-deals with a product
-appeals to changing needs
stages in the product life cycle
introduction, growth, maturity, decline
-increasing product awareness
-develop a market for the product
-seeks to build brand preference and increase market share
-product is enjoying success
-sales decrease or slow down
-product has more competition
-consumers know product
-end of product's life cycle
-product is deleted
what positioning strategies= product image that appeals to customers?
-price and quality
-features and benefits
-in relation to competition
-in relation to other products in a product line
what are branding characteristics?
incorporates a unique symbol, coloring, lettering, design element that is easily visible
a specific type of brand mark, one with human form or characteristics (mascot)
a word, name or symbol that identifies a good or service and cannot be used by anyone but the owner because it is registered with the federal government
corporate brand identifies and promotes a company or division of a particular corporation
what are the branding strategies?
a branding strategy that uses an existing brand name to promote a new or improved product that gives the brand name, trademark, or logo
renting or leasing of an intangible asset. It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory
refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market
a marketing partnership between at least two different brands of goods or services
what is the purpose of branding?
to generate renenue
what are the functions of packaging?
-selling the product
-communicating product identity
-meeting customer needs
-protecting the product
these have been enacted to prevent manufacturers from misleading consumers with deceptive or incomplete packaging labels
THIS SET IS OFTEN IN FOLDERS WITH...
Chapter 9, Principles of Marketing
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