Ch 10 Flashcards
What are associated services?
Non physical attributes, product warranties, financing, product support, after-sale service
What is the core customer value of a product?
Basic problem-solving benefits customers are seeking
What are the four types of consumer products?
Specialty-strong preference, expend effort to find best supplier e.g. Medics professional
Shopping- fair amount of time comparing alternative e.g. Apparel
Convenience- no effort prior to purchase e.g. Soda
Unsought-require a lot of marketing e.g. Insurance
What is a product mix?
Complete set of all products offered by a firm
What is a product line?
Groups of associated items consumers tend to use together e.g. Cereals, cookies, frozen items by kelloggs
What is a product mix’s breadth?
Number of product lines
What is a product line’s depth?
Number of products within a line
What are brand elements?
Brand name, URL’s, logos & symbols, characters, slogans, jingles
What is brand equity?
Value of brand, set of a assets and liabilities that add or subtract from the value provided
What is a licensed brand?
Contractual agreement allowing another firm to use brand
What are the four aspects of a brand that determine it’s equity?
Brand Awareness: e.g Kleenex too far
Perceived Value: between competitors
Brand Associations: mental links, sometimes brand personality
Brand Loyalty: e.g. Google
What are the two types of brand ownership?
Manufacturer Brands- Nike, Sony, Coke
Private-label Brands- store brands, house brands, developed by retailers
What are the four categories of private brands?
Premium- comparable or superior to manufacturer’s brand e.g. Krogers private selection
Generic- price sensitive segment, no frills
Copycat- imitate manufacturer’s brand in packaging, lower quality and price e.g pepto, and cvs
Exclusive Co- developed by national brand manufacturer with retailer
What is a family brand?
Firms own corporate name use to brand, e.g. All of Kellogg’s cereals
What is an individual brand?
E.G. Cheezits by Kellogg’s
