Flashcards in marketing ch.11 Deck (33):
the desire for hte product class rather than for a specific brand
the preference for a specific brand
high prices to attract competitors
low prices to discourage competitive entry
increases in sales
slowing of total sales
dropping the product from the company's product line
when a company retains the product but reduces marketing costs
High learning product
- one where significant consumer learning is required has extended introductory period
Low learning products
shortened introductory period
introduced, decline the seem to return.
experiences rapid sales in intro then rapid decline
refers to entire product category/industry
variations within the product class
Diffusion of innovation
product diffuses or spreads through the population
involves altering one or more of a products characteristics such as quality performance or appearance to increase the products value to increase sales.
a company tries to find new customers, increase a products use among existing customers or create new use situations
Repositioning the Product
changes the place a product occupies in a consumers mind relative to competitive products.
involves adding value to the product through additional features or higher quality materials.
uses a name/phrase/design/symbols to identify its products and distinguish from competitors
any word, device used to distinguish a sellers goods/services
commercial/legal name under which company DBA
set of human characteristics associated with brand name
the added value a brand names gives a product
contractual agreement whereby one company allows its brand names/trademarks to be used with products/services offered by another company for a fee.
company uses one name for all its products within a product class. "family branding" "corporate branding" (ex. Microsoft, GE)
combines corporate/family brand with a new brand . (G2)
the pairing of two brand names
involves giving each product a distinct name. Good when each good is for a different segment.
used as defensive moves to confront competitors brands
Private Branding Strategy
manufacturers products but sells them under the brand name of a wholesaler/retailer. (items at RadioShack)