marketing ch.11 Flashcards Preview

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Flashcards in marketing ch.11 Deck (33):
1

Primary demand

the desire for hte product class rather than for a specific brand

2

selective demand

the preference for a specific brand

3

skimming

high prices to attract competitors

4

penetration pricing

low prices to discourage competitive entry

5

growth stage

increases in sales

6

maturity stage

slowing of total sales

7

decline stage

sales drop

8

Deletion

dropping the product from the company's product line

9

Harvesting

when a company retains the product but reduces marketing costs

10

High learning product

- one where significant consumer learning is required has extended introductory period

11

Low learning products

shortened introductory period

12

Fashion produc

introduced, decline the seem to return.

13

Fad

experiences rapid sales in intro then rapid decline

14

Product class

refers to entire product category/industry

15

Product form

variations within the product class

16

Diffusion of innovation

product diffuses or spreads through the population

17

Product Modification-

involves altering one or more of a products characteristics such as quality performance or appearance to increase the products value to increase sales.

18

Market Modification

a company tries to find new customers, increase a products use among existing customers or create new use situations

19

Repositioning the Product

changes the place a product occupies in a consumers mind relative to competitive products.

20

Trading up

involves adding value to the product through additional features or higher quality materials.

21

Branding

uses a name/phrase/design/symbols to identify its products and distinguish from competitors

22

Brand Name

any word, device used to distinguish a sellers goods/services

23

Trade Name

commercial/legal name under which company DBA

24

Brand personality

set of human characteristics associated with brand name

25

Brand Equity

the added value a brand names gives a product

26

Brand licensing

contractual agreement whereby one company allows its brand names/trademarks to be used with products/services offered by another company for a fee.

27

Multiproduct Branding

company uses one name for all its products within a product class. "family branding" "corporate branding" (ex. Microsoft, GE)

28

Subbranding

combines corporate/family brand with a new brand . (G2)

29

Co-branding

the pairing of two brand names

30

Multibranding Strategy

involves giving each product a distinct name. Good when each good is for a different segment.

31

Fighting brands

used as defensive moves to confront competitors brands

32

Private Branding Strategy

manufacturers products but sells them under the brand name of a wholesaler/retailer. (items at RadioShack)

33

Mixed Braning Strategy

where a firm markets product under its own name and that of a resaler because the two segments are different.