Marketing 10

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Anonymous
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144649
Filename:
Marketing 10
Updated:
2012-03-29 16:30:50
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Stutz031
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Marketing 10
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  1. Product
    everything, both favorable and unfavorable, that a person receives in an exchange. tangible good, service, idea
  2. Convenience Product
    relatively inexpensive item that merits little shopping effort
  3. Shopping product
    a product that requires comparison shopping, because it is usually more expensive and found in fewer stores
  4. Specialty Product
    a particular item for which consumers search extensively and are reluctant to accept substitutes
  5. Unsought Product
    product unknown to the potential buyer or a known product that the buyer does not actively seek
  6. Product Item
    specific version of a product that can be designated as a distinct offering
  7. Product Line
    group of closely-related product items
  8. Product mix
    • -all products that an organization sells
    • - exhibits: Width- number of product lines in org... Depth- average number of products in each line
  9. Brand
    a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitor' products
  10. Branding Strategies (6)
    • 1) Generic Brand
    • 2) Manufacturers Brand
    • 3) Private Brand
    • 4) Individual Brand
    • 5) Family Brand
    • 6) Co-Branding
  11. Generic Product (brand)
    a no-frills, no-brand-name, low-cost product that is simply identified by its product category
  12. Manufacturers Brand
    brand name of a manufacturer
  13. Private Brand
    brand name owned by a wholesaler or a retailer. also known as a private label or store brand.
  14. Individual Brand
    using different brand names for different products
  15. Family Brand
    marketing several different products under the same brand name
  16. Co-Branding
    • 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.
  17. Brand Equity
    • - 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.
  18. Functions of Packaging
    • 1) contain and protect
    • 2) promote
    • 3) facilitate storage, use, and convenience
    • 4) facilitate recycling
  19. Persuasive Labeling
    type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary.
  20. Informational Labeling
    type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase. Includes use/care
  21. Warranty
    a confirmation of the quality, or performance of a good or service
  22. Express Warranty
    a written guarantee
  23. Implied Warranty
    an unwritten guarantee that the good or service is fit for the purpose for which it was sold.

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