Chapter 9 Flashcards
Product, Branding, and Packaging Decisions (14 cards)
what are the types of products-consumer (4)
- specialty
- convenience
- shopping
- unsought
what is a product mix
complete set of all products offered by a firm
what are product lines
groups of associated items, such as those consumers use together or think of as part of a group of similar products.
what makes a brand (6)
- brand name
- URL’s
- logos and symbols
- characters
- slogans
- jingles
value of branding (6)
- impact market value
- facilitate purchasing
- establish loyalty
- protect from competition
- reduce marketing costs
- assets
what are the components of a product (4)
- brand name
- quality level
- packaging
- financing
family brands
Apple: mac, ipad, iphone
individual brands
P&G: Tide, gillette, dove
brand extension
colgate for lunch
difference between product mix’ breadth and product line’s depth
breadth = variety, number of product lines that a company offers
depth = number of categories in one specific product line
advantages that brands provide firms and consumers (5)
- facilitate consumer’s search process
- well-known brand = less money on marketing
- real market value
- protection from competition
- valuable in a legal sense
components of brand equity (3)
brand awareness
brand associations
brand loyalty
types of branding strategies used by firms (5)
- manufacturer, private-label or generic brands
- overall corporate brand or collection of product line or individual brands
- extend brand to new products
- cobrand
- license brand to other brands
Describe how a product’s packaging and label contribute to a firm’s overall strategy
package holds the product, and its label provides product information
