Upgrade to remove ads
Terms in this set (54)
build product identity and customer loyalty
A Boston diamond distributor has developed the first branded diamond called Hearts on Fire to help smaller retailers counter the volume jewelers' aggressive price discounting. This move is meant to:
a specific version of a product that can be designated as a distinct offering amongs organizations products (Chicken, Tomato, and Veggie Soup)
Nestle's quest is to make some of its existing products more nutritious and provide a health benefit. This is an example of which type of product modification?
Heinz is a leading global food manufacturer. It manufactures and markets Farleys (baby food), Jack Daniel's Sauces, and Weight Watcher's Foods (diet/slimming meals and supplements). The use of these brand names instead of the Heinz name is an example of a(n) _____ branding strategy
distributed to only a few stores in geographic area
When deciding on distribution plans for specialty products, companies generally ensure that the items are:
guarantee product quality
All of the following are functions of packaging EXCEPT:
In general, most consumers don't spend a lot of time thinking about their funeral. So some funeral home advertising tries to get them to think about their loved-ones and encourage preplanning their funeral. This is an attempt to get people to think about a product that most consumers do not actively seek. In other words, insurance is a(n) _____ product.
product used to manufacture other goods or services to facilitate an organizations operations or to resell to a customer
changing the color of a laundry detergent
Which of the following is an example of a product modification?
changes to products to take advantage of new technical or product developments or to respond to changes in enviornment
_____ products are searched for extensively, and substitutes are not acceptable. These products may be quite expensive, and often distribution is limited.
the product name is no longer recognized as the exclusive property of one firm
When a product name becomes generic:
Hardie now makes multiple types of fiber-cement siding products. There are different widths, textures, and profiles. The different types of siding the company makes are called its product:
usually more expensive than convenience products and are found in fewer stores
Compared to the other classifications of consumer products, shopping products are:
Proctor & Gamble (P&G) is a well-known producer of home and beauty products. Along with home and beauty products, P&G also markets pet products, prescription drugs, and small appliances. This range of products provides the company with product _____.
number of product items in a product line to attract cusotmers
product mix width
number of product lines an organization offers
Which type of private label brand carries no evidence of a retailer's affiliation, is manufactured by a third party, and is sold exclusively at the retailer?
Which type of product modification is an aesthetic product change?
provide the detailed nutritional information required by the FDA
All of the following are functions of universal product codes (UPCs) EXCEPT:
Higher gross margins are available on private brands
Which of the following statements describes an advantage to retailers associated with developing their own brands?
Evan Zimmermann loves watches. He collects vintage Rolex sport models made between 1950 and 1960. He paid $1,500 for his first watch in 2000. Now, the watch is worth $15,000. For Evan, the vintage watches are an example of a(n) _____ product.
aesthetic product change
A style modification is a(n):
product bought to satisfy an individual's personal wants
relatively inexpensive items that merits little shopping effort
more expensive product found in fewer stores ususally picked after comparing brands or stores on styles and price
products are similar, typically consumer looks for lowest price brand with desired features
products are different and harder to compare because prices, features and quality differ so much - "finding the best product or brand for me- highly individual decision
product that consumers search extensively for and are very reluctant to accept substitutes, distribution limited to few outlets, conscious advertising to maintain exclusive image
product unknown to potential buyer or known product that buyer does not actively seek, aggressive personal selling
all products a company sells
changes in products depend on ability and durability
change in products versatility effectiveness convenience and safety
practice of modifying products so that those that have already been sold become obsolete before they actually need replacement
product line extension
add products to an existing product line in order to compete more boradly in the industry
product line contraction
contract product lines to strategically deal with over extenstion
name term symbol design or combination that identifies a seller's product and differentiates them from competitors products
product identification, repeat sales, new product sales
What are the 3 main purposes of branding?
brand that obtains at least 1/3 of its earning from outside home country
brand name of a manufacturer
brand owned by wholesaler, has low overhead and no marketing costs, brings more profit margin in
brands that carry no evidence of their store's affiliation, manufactured by 3rd party and sold exclusively at the chains
identifies brand of a part that makes up the product ( Febreeze with Tide)
two brands receive equal treatment borrow each others' brand equity
products are advertised together to suggest usage - wine and mixer
an exclusive right to use a brand or part of a brand other cannot use without permission
performs same function for services such as the MGM lion roar, coca cola bottle shape etc.
Generic product name
cannot be trademarked
focuses on promo theme or logo and consumer info secondly
designed to help consumers make proper product selections and lower their cognitive dissonance after purchase (nutrition label)
Universal Product Codes
bar codes that match codes with brand names, packing sizes, prices and help track sales and inventory
protects buyer and gives essential info about product- confirms the quality or performance of a good
written guarantee of a quality
unwritten guarantee, all that do not live up to prescription must be promoted as limited warranty
THIS SET IS OFTEN IN FOLDERS WITH...
YOU MIGHT ALSO LIKE...
Marketing Chapter 10
Marketing Chapter 10: Product Concepts
MKTG chapter 10
Chapter 10: Product Concepts