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1

Lanham Act

Protect it or lost it

You must protect your trademarks

Some countries allow counterfiting

2

4 branding options

Family brand

Individual (free standing) brand

Licensing

Generic

3

Manufacturer Brands

Also called national brands

Created/owned by producers

Attract business to stores

4

Dealer Brands

Also called private brands or private labels

Created/owned by intermediaries

Creates higher margins

5

FTC = Label rules

FTC ACT of 1914 held that false, misleading or deceptive labels or packages constitute unfair competition

Both federal and state laws regulate labeling

 

6

FDA regulates food and drug labels

Open dating (expiration codes)

Nutritional labels

Nutritional labeling and education act of 1990 - requires sellers to provide detailed nutritional info

FDA also regulates terms like low-fat, high fiber and light

Hot issues: serving sizes, nutrition and gmo labeling

7

Environmental packaging

Recyclable materials

Biodegradable materials

Compact packaging

8

Ethical issues of packaging

Display packaging

True to size packaging

9

3 types of convenience products

Staples

impulse

emergency

10

2 types of shopping products

homogeneous

heterogeneous

11

product

need-satisfying offering of a firm

12

Components of a product

Excellent service

Physical good with the right features

useful instructions

convenient package

trustworthy warranty

familiar name

13

service

not physical - they are intangible

14

Quality

A product's ability to satisfy a customer's needs or requirements

15

Consumer Product classes

Convenience products

Shopping products

Specialty products

Unsought products

16

Business product classes

Installations

Accessory equipment

Raw materials

Component parts and materials

Maintenance, repair, and operating supplies

Professional services

17

Conditions favorable to successful branding

The product is easy to label and identify by brand or trademark

The product quality is easy to maintain and the best value for the price

Dependable and widespread availabilty is possible. When customers start using a brand, they want to be able to continue using it

Demand is strong enough that the market price can be high enough to make the branding effort profitable

There are economies of scale. if the branding is really successful, costs should drop and profits should increase

Favorable shelf locations or display space in stores will help. This is something retailers can control when they brand their own products

18

5 levels of brand familiarity

1. rejection

2. non-recogniton

3. recognition

4. preference

5. insistence

19

Characteristics of a good brand name

Short and simple

Easy to spell and read

Easy to recognize and remember

Easy to pronounce

Can be pronounced in only one way

Can be pronounced in all languages

Suggestive of product benefits

Adaptabele to packaging/labeling needs

No undesriable imagery

Always timely

Adaptable to any advertising medium

Legally available for use (not in use by another firm)

 

20

How do you protect a brand name?

U.S. common law and civil law protect the rights of trademark and brand name owners

Lanham act - spells out what kinds of marks can be protected and the exact method of protecting them

21

4 different approahces to branding

family brand 

individual brand

lisecenced brand

generic products

22

Battle of the brands

The competition between dealer brands and manufacturer brands, is just a question of whose brands will be more popular and will be in control

23

Packaging can enhance the product

Can make the product easier or safer to use

 

24

Warranty

Explains what the seller promises about its product

It may actually reduce the responsibility a producer would have under common law

Must be clearly written

Warranties lessen consumer risk

 

25

product assortment

the set of all product lines and individual products that a firm sells

26

product line

 a set of individual products that are closely related

27

individual product

 a particular product within a product line

28

Branding

The use of a name, term, symbol, or design - to identify a prodcut

29

brand name

a word, letter, or a group of words or letters

30

Trademark

includes only those words, symbols, or marks that are legally registered for use by a single company

31

service mark

the same as a trademark except that it refers to a service offering

32

Brand familiarity

Means how well customers recognize and accept a company's brand

33

Brand rejection

Means that potential customers wont buy a brand unless its image is changed

34

Brand nonrecognition

Means final consumers dont recognize a brand at all -even though intermediaries may use the brand name for identification and inventory control

35

Brand recognition

Means that custoemrs remember the brand

36

Brand preference

Which means that target customers usually choose the brand over other brands, perhaps because of habit or favorable past experience

37

Brand insistence

Means that customers insist on a firm's branded product and are willing to search for it

38

brand equity

the value of a brand's overall strength in the market

39

family brand

the same brand name for several products

40

licensed brand

a well-know brand that sellers pay a fee to use

 

41

individual brands

seperate brand names for each product when its important for the products to each have a seperate identity

42

generic products

products that have no brand at all other than identification of their contents and the manufacturer or intermediary

43

Manufacturer brands

brands created by producers

44

Dealer brands

aka private brands

Brands created by intermediaries

45

Packaging 

involve promoting, protecting, and ehnancing the product

can be important for both sellers and customers

46

Universal product code (UPC)

To speed handling of fast-selling products, government and industry representatives have developed a universal product code that identifies each prouct with readable by electronic scanners

47

Federal Fair Packaging and Labeling Act

Requires that consumer goods be clearly labled in easy-to-understand terms to give consumers more information

48

Magnuson-Moss Act

Says that producers must provide a clearly written warranty if they choose to offer any warranty

49

Consumer products

meant for the final consumer

50

Business products

Products meant for use in producing other products

51

Convenience products

Products a consumer needs but isn't willing to spend much time or effort shopping for

52

Staples

Products that are bought often, routinely, and without much thought

53

Impulse products

Products that are bought quickly and unplanned because of a strongly felt need

54

Emergency products

Products that are purchased immediately when the need is great

55

Shopping products

Products that a customer feels are worth the time and effort to compare with competing products

can be homogeneous or heterogeneous

56

Homogeneous shopping products

Shoppig products the customer sees as basically the same and wants the lowest price

57

Heterogeneous shopping products

Shopping products the customer sees as different and wants to inspect for quality and suitability

ex. furniture, clothing, and membership in a spa

58

Specialty products

Consumer products that the customer really wants and makes a special effort to find

59

Unsought products

Products that potential customers dont yet want or know they can buy

60

New unsought products

products offering really new ideas that potential customers dotn know about yet

61

Regular unsought products

products- like gravestones, life insurance and encyclopedias that stay unsought but not unbought forever

62

derived demand

the demand for business products derives from the demand for final consumer products

63

expense item

a product whose total ost is treated as a business expense in the year it's purchased

64

capital item

 a long-lasting product that can be used and depreciated for many years

65

installations

Such as buidlings, land rights, major equipment - important capital items

66

Accessories

Short-lived capital items - tools and equipment used in production or office activities

67

Raw materials

Unprocessed expense items - such as logs, iron, ore, and wheat - that are moved to the next productino proces with little handling

68

Farm products

Grown by farmers

69

Natural products

products that occur in nature

70

Components

Processe expense items that become part of a finished product

71

Supplies

Expense items that do not become part of a finished product

3 types: 1. maintence, 2. repair, and 3. operating supplies

72

Professional services

Specialized services that support a firm's operations

usually expense items

73

New-Product Development Process

1. Idea generation

2. screening

3. idea evaluation

4. development

5. commercialization

74

PSSP Hierarcy of Needs

Physiological needs

safety needs

social needs

personal needs

75

product life cycle

Describes the stages a really new product idea goes through from beginning to end

1. market introduction

2. market growth

3. market maturity

4. sales decline

76

Market introduction

Sales are low as a new idea is first introduced to a market

77

Market growth

Industry sales grow fast - but industry profits rise and then start falling

78

Market maturity

Occurs when industry sales level off and competiton gets tougher

79

Sales decline

New products replace the old

80

Fashion

The currently accepted or popular style

Fashion-related products tend to  have short life cycle

81

Fad

An idea that is fashionable only to certain groups who are enthusaistic about it

82

New product

One that is new in any way for the company concerned

83

Federal Trade Commission (FTC)

The federal government agency that policies antimonololyy laws

84

Consumer Product Safety Act

Set up to encourage safety in product design and better quality control

85

concept testing

getting reactions from customers about how wll a new-product idea fits their needs

86

Product managers or brand managers

Manage specific products - often taking over the jobs formerly handled by an advertising manager

87

Total quality management (TQM)

The philosphy tha everyone in the organization is concerned about quality, throughout all of the firm's actitivies, to better serve customer needs

88

Pareto chart

A graph that shows the number of times a problem cause occurs, with problem causes ordered from most frequent to least frequent

89

fishbone diagram

visual aid that helps organize cause and effect relationships for things gone wrong

90

empowerment

means giving employees the authority to correct a problem without first checking with management

91

Can a product enter in any phase of the life cycle?

A given firm may introduce or drop a specific product during any stage of the product life cycle

92

New Product Development Process

Idea generation

Screening

Idea evaluation

Development

Commercialization

93

2 things a new product development process tries to do

1. move quickly

2. avoid expensive new-product failures

94