Chapter 8 Flashcards
(33 cards)
product
the need satisfying offering of a firm
quality
a product’s ability to satisfy a customer’s needs or requirements
individual product
a particular product within a product line
product line
a set of individual products that ar closely related
product assortment
the set of all product lines and individual products that a firm sells
service
an intangible offering involving a deed, performance, or effort
branding
the use of a name, term, symbol, or design-or a combo-to identify a product
brand name
a word, letter, or group of words/letters
trademark
only those words, symbols, or marks that are legally registered for use by a single company
service mark
the same as trademark except that is refers to a service offering
brand familiarity
how well customers recognize and accept a company’s brand
brand rejection
potential customers won’t buy a brand unless its image is changed-or if the customers have to target customers who have a better image of the brand
brand nonrecognition
final consumers don’t recognize a brand at all
brand recognition
customers remember the brand
brand preference
target customers uually choose the brand over other brands
brand insistence
customers insist on a firm’s branded product and are willing to search for it
brand equity
the value of a brand’s overall strength in the market
lanham act
spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them
family brand
the same brand name for several products
licensed brand
a well-known brand that sellers pay a fee to use
individual brands
separate brand names for each product
generic products
products that have no brand at all other than identification of their contents an the manufacturer or intermediary
manufacturer brands
brands created by producers
dealer brands
private brands-brands created by intermediaries
