Chapter 11

Question 1

1. introduction
2. growth
3. maturity
   4.decline
   what is this ?

Answer 1

the product life cycle

Question 2

a function of marketing that uses techniques to increase the perceived value of a product line or brand over time
what is this ?

Answer 2

brand management

Question 3

oversees and is accountable for every aspect of the brand with a focus on driving incremental sales via brand building activities
what is this ?

Answer 3

brand manager

Question 4

customers SUBJECTIVE and INTANGIBLE assessment of the brand, ABOVE and BEYONE its OBJECTIVELY PERCEIVED VALUE
what is this ?

Answer 4

brand equity

Question 5

1. master brand approach (GOOGLE-google maps, google drive, google photos)
2. endorsed brand strategy (Marriott- courtyard by Marriott, residence inn by Marriott, Fairfield by Marriott)
3. individual brand architecture strategy (Proctor & Gamble- crest, old spice, tide)

Answer 5

types of brand architecture

Question 6

If you only remember 3 things…1

Answer 6

every product has a LIFE CYCLE, and the goal of the brand manager is to help EXTEND THE CYCLE and help transition the products through the stages

Question 7

describes the stages a new product goes through in the marketplace
what is this ?

Answer 7

product life cycle

Question 8

high initial price
is used in what strategy ?

Answer 8

skimming strategy

Question 9

to discourage competitive entry, a company can price low
what strategy is this ?

Answer 9

penetration pricing

Question 10

people who tried the product, were satisfied and bought again
what is this ?

Answer 10

repeat purchasers

Question 11

when a company retains the product but reduces marketing costs
what is this ?

Answer 11

harvesting

Question 12

is a style of the times
what is this ?

Answer 12

fashion product

Question 13

experiences rapid sales on introduction and then an equally rapid decline
what is this ?

Answer 13

fad product

Question 14

refers to the entire product category or industry, such as prerecorded music
what is this ?

Answer 14

product class

Question 15

pertains to variations of a product within the product class
what is this ?

Answer 15

product form

Question 16

a product diffuses, or spreads, through the population
what is this ?

Answer 16

diffusion of innovation

Question 17

1. usage barriers (the product is not compatible with existing habits)
2. value barriers (the product provides no incentive to change
3. risk barriers (physical, economic, or social)
4. psychological barriers (cultural differences or image)
   what are these ?

Answer 17

factors that affect whether a consumer will adopt a new product or not

Question 18

altering one or more of a products characteristics, such as quality, performance, or appearance, to increase the products value to customers and increase sales
what is this ?

Answer 18

product modification

Question 19

the sale of two or more separate products in one package
what is this ?

Answer 19

product bundling

Question 20

strategies by which a company tries to find new customers, increase a products use among existing customers, or create new use situations
what is this ?

Answer 20

market modification

Question 21

changes the place a product occupies in a consumers mind relative to competitive products
what is this ?

Answer 21

product repositioning

Question 22

adding value to the product through additional features or higher quality materials
what is this ?

Answer 22

trading up

Question 23

involves reducing a products number of features, quality, or price
what is this ?

Answer 23

trading down

Question 24

reducing the package content without changing package size and maintaining or increasing the package price
what is this

Answer 24

downsizing or shrinkflation

Question 25

a marketing decision in which an organization uses a name, phrase, design, symbols, or combination of these to identify its products and distinguish them from those of competitors what is this ?

Answer 25

branding

Question 26

any word, device (design, sound, shape, or color), or combination of these used to distinguish a sellers products or services what is this ?

Answer 26

brand name

Question 27

identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it what is this ?

Answer 27

trademark

Question 28

a set of human characteristics associated with a brand name What is this ?

Answer 28

brand personality

Question 29

the reason why a brand exists, the place it has in consumers lives, the solution it provides to consumers, and the brands role in making society better off what is this ?

Answer 29

brand purpose

Question 30

a contractual agreement whereby one company allows its brand name or trademark to be used with products or services offered by another company for a royalty or fee what is this ?

Answer 30

brand licensing

Question 31

a branding strategy in which a company uses one name for all its products in a product class what is this ?

Answer 31

multiproduct branding

Question 32

the practice of using a current brand name to enter a new market segment in its product class what is this ?

Answer 32

product line extensions

Question 33

combines a corporate or family brand with a new brand to distinguish a part of its product line from others what is this ?

Answer 33

subbranding

Question 34

the practice of using a current brand anew to enter a different product class what is this ?

Answer 34

brand extension

Question 35

paring two or more strong brand to facilitate the marketing of a joint product or service for their mutual benefit what is this called ?

Answer 35

co-branding

Question 36

occurs when consumers no longer associate a brand with a specific product or service or start thinking less favorably about the brand what is this ?

Answer 36

brand dilution

Question 37

a branding strategy that involves giving each product a distance name when each brand is intended for a different market segment what is this ?

Answer 37

multibranding

Question 38

other multi brand companies introduce new product brands as defensive moves to counteract competition what is this ?

Answer 38

fighting brands

Question 39

a branding strategy used when a company manufactures products but sells them under the brand name of a wholesaler or retailer what is this ?

Answer 39

private branding (also called private labeling or reseller branding)

Question 40

a branding strategy where a firm marketing products under its own name and that of a reseller because the segment attracted to the reseller is different from its own market what is this ?

Answer 40

mixed branding

Question 41

a component of a product that refers to any container in which it is offered for sale and on which table information is conveyed what is this ?

Answer 41

packaging

Question 42

an integral part of packaging that typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients what is this ?

Answer 42

label