MRKT 140 # 9

Card Set Information

MRKT 140 # 9
2010-03-27 05:20:53
Terms & definition

# 9
Show Answers:

  1. brand
    A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products
  2. brand equity
    The value of company and brand names
  3. brand loyalty
    A consistent preference for one brand over all others.
  4. brand mark
    The elements of a brand that cannot be spoken.
  5. brand name
    That part of a brand that can be spoken, including letters, words, and numbers
  6. business product (industrial product)
    A product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other customers.
  7. cobranding
    Placing two or ore brand names on a product or its package.
  8. consumer product
    A product bought to satisfy an individual’s personal wants
  9. convenience product
    A relatively inexpensive item that merits little shopping effort.
  10. express warranty
    A written guarantee.
  11. family brand
    Marketing several different products under the same brand name.
  12. generic product
    A no-frills, no-brand-name, low-cost product that is simply identified by its product category
  13. generic product name
    Identifies a product by class or type and cannot be trademarked
  14. global brand
    A brand where at least 20 percent of the product is sold outside its home country or region.
  15. implied warranty
    An unwritten guarantee that the good or service is fit for the purpose for which it was sold
  16. individual branding
    Using different brand names for different products
  17. informational labeling
    A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.
  18. manufacturer’s brand
    The brand name of a manufacturer.
  19. persuasive labeling
    A type of package labeling that focuses on a promotional theme or logo and consumer information is secondary
  20. planned obsolescence
    The practice of modifying products so those that have already been sold become obsolete before they actually need replacement
  21. private brand
    A brand name owned by a wholesaler or a retailer
  22. product
    Everything, both favorable and unfavorable, that a person receives in an exchange.
  23. product item
    A specific version of a product that can be designated as a distinct offering among an organization’s products.
  24. product line
    A group of closely related product items.
  25. product line depth
    The number of product items in a product line.
  26. product line extension
    Adding additional products to an existing product line in order to compete more broadly in the industry.
  27. product mix
    All products that an organization sells.
  28. product mix width
    The number of product lines an organization offers.
  29. product modification
    Changing one or more of a product’s characteristics.
  30. service mark
    A trademark for a service.
  31. shopping product
    A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores.
  32. specialty product
    A particular item that consumers search extensively for and are very reluctant to accept substitutes.
  33. trademark
    The exclusive right to use a brand or part of a brand.
  34. universal product codes (UPCs)
    A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products.
  35. unsought product
    A product unknown to the potential buyer or a known product that the buyer does not actively seek.
  36. warranty
    A confirmation of the quality or performance of a good or service.