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everything, both favorable and unfavorable, that a person receives in an exchange. tangible good, service, idea
relatively inexpensive item that merits little shopping effort
a product that requires comparison shopping, because it is usually more expensive and found in fewer stores
a particular item for which consumers search extensively and are reluctant to accept substitutes
product unknown to the potential buyer or a known product that the buyer does not actively seek
specific version of a product that can be designated as a distinct offering
group of closely-related product items
- -all products that an organization sells
- - exhibits: Width- number of product lines in org... Depth- average number of products in each line
a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitor' products
Branding Strategies (6)
- 1) Generic Brand
- 2) Manufacturers Brand
- 3) Private Brand
- 4) Individual Brand
- 5) Family Brand
- 6) Co-Branding
Generic Product (brand)
a no-frills, no-brand-name, low-cost product that is simply identified by its product category
brand name of a manufacturer
brand name owned by a wholesaler or a retailer. also known as a private label or store brand.
using different brand names for different products
marketing several different products under the same brand name
- placing 2 or more brand names on a product or its package
- - two established brand names of different companies are used on the same product
- -takes advantage of assets of both firms
- -certain motion pictures have become brand franchises. Ex: Indiana Jones, Bourne, Shrek.
- - value of the company name or its brand names
- - brand with strong brand equity is a strong asset
- - measure of a brand's equity is the extent to which customers are willing to pay more for the brand.
Functions of Packaging
- 1) contain and protect
- 2) promote
- 3) facilitate storage, use, and convenience
- 4) facilitate recycling
type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary.
type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase. Includes use/care
a confirmation of the quality, or performance of a good or service
a written guarantee
an unwritten guarantee that the good or service is fit for the purpose for which it was sold.