Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Marketing > More slide notes > Flashcards

More slide notes Flashcards

1
Q

Lanham Act

A

Protect it or lost it

You must protect your trademarks

Some countries allow counterfiting

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

4 branding options

A

Family brand

Individual (free standing) brand

Licensing

Generic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Manufacturer Brands

A

Also called national brands

Created/owned by producers

Attract business to stores

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Dealer Brands

A

Also called private brands or private labels

Created/owned by intermediaries

Creates higher margins

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

FTC = Label rules

A

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

Both federal and state laws regulate labeling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

FDA regulates food and drug labels

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Environmental packaging

A

Recyclable materials

Biodegradable materials

Compact packaging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Ethical issues of packaging

A

Display packaging

True to size packaging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

3 types of convenience products

A

Staples

impulse

emergency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

2 types of shopping products

A

homogeneous

heterogeneous

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

product

A

need-satisfying offering of a firm

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Components of a product

A

Excellent service

Physical good with the right features

useful instructions

convenient package

trustworthy warranty

familiar name

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

service

A

not physical - they are intangible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Quality

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Consumer Product classes

A

Convenience products

Shopping products

Specialty products

Unsought products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Business product classes

A

Installations

Accessory equipment

Raw materials

Component parts and materials

Maintenance, repair, and operating supplies

Professional services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Conditions favorable to successful branding

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

5 levels of brand familiarity

A
  1. rejection
  2. non-recogniton
  3. recognition
  4. preference
  5. insistence
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Characteristics of a good brand name

A

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)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

How do you protect a brand name?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

4 different approahces to branding

A

family brand

individual brand

lisecenced brand

generic products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Battle of the brands

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Packaging can enhance the product

A

Can make the product easier or safer to use

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Warranty

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

Marketing (15 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions