Chapter 9 Flashcards
Product management
The systematic and usually team-based approach to coordinating all aspects of a products marketing initiative including
Product mix width
The number of different product lines the firm produce
Product line length
Determined by the number of separate items within the same category
Cannibalization
The loss of sales for an existing brand when a new item in a product line or product family is introduced.
Product life cycle
A concept that explains how products go through four district stages from birth to death: introduction, growth, maturity, and decline
Brand
A name, a term, a symbol, or any other unique element of a product and sets it apart from the competition
Trademark
The legal term for a brand name, brand mark, or trade character; trademarks legally registered by a government obtain protection for exclusive use in that country
Brand equity
The value of a brand to an organization
Family brand
A brand that a group of individual products or individual brands share.
Package
The covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication
