mrkt ch10

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mrkt ch10
2010-11-03 11:07:47

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  1. Product
    anything that is of value to a customer and can be offered through a voluntary marketing exchange
  2. product assortment (mix)
    the complt set of all products offered by a firm
  3. product lines
    • groups of assorted items, tha ta consumer might use together or think of as part of a groups of similar products
    • eg: oral care; personal care; home care; pet nutrition
  4. product category
    an assortment of items that a customer sees as reasonable substitutes for one another
  5. brands
    • the name, term, design, symbol, or any other features that identify one seller's good as distinct from those of others
    • element: name, URLs, logos, symbols, characters, slogans, jingles, packaging
  6. individual brands
    • the use of individual brand names for each of a firm's products; the more the products vary in their usage or performance, the more likely it is that the firm should use individual brands
    • eg: procter & Gamble- Tide, Downy, Bounty...
  7. breadth (variety)
    • number of product lines offered by a firm
    • ...across
  8. depth
    • number of categories within the product line
    • ...deep
  9. stock keeping units (SKUs)
    individual items within each product category; smallest unit available for inventory control
  10. category depth
    the number of SKUs within a category
  11. brand equity
    • the set of assets and liabilities linked to a brand that add or subtract form the value provided by the product
    • ...we know how good a brand is by how much equity it has
  12. list- wat four aspects of a brand do experts look at to determine its equity?
    • -brand awareness
    • -perceived value
    • -brand associations
    • -brand loyalty
  13. brand awareness
    measures how many consumers in the mrkt are familiar with the brand and what it stands for and have an opinion about it; created through repeated exposures of the various brand elements in the firm's communication to consumers
  14. perceived value
    the relationship btw a product's benefits and its costs
  15. brand association
    the mental links that a consumer makes btw a brand and its key product attributes; can involve a logo, slogan, or famous personality
  16. brand personality
    a set of human characteristics associated with a brand, which has symbolic and self expressive meanings to the consumers
  17. brand loyalty
  18. occurs when a consumer buys the same brand's product or service repeatedly over time rather then buyg from multiple suppliers within the same category