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Definition
| firm's total product offering designed to satisfy a single need or desire of target customers |
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| large number of variations in a product line |
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| fewer product variations than a full product line |
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| adds new items to product line claiming higher quality and higher priced |
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| adds new items to a product line at the lower end |
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| adds items at both the upper and lower end |
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| adding sizes or styles not previously available in a product category |
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| loss of sales of an existing brand when a new item in a product line or product family is introduced |
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| the total set of all products a firm offers for sale |
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| number of different product lines the firm produces |
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| a Japanese philosophy that translates customers' feelings into design elements |
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| total quality management (TQM) |
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Definition
| a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement |
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Definition
| crriteria developed by the Internation Organization for Standardization to regulate product quality in Europe |
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| standars of the International Organization for Standardization concerned with "environmental management" aimed at minimizing harmful effects on the environment |
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| a process whereby firms work to limit product defects to 3.4 per million or fewer |
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| concept that explains how products go through four distinct stages from birth to death: introduction, growth, maturity, and decline |
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| the legal term for a brand name, brand mark, or trade character; _________ legally registered by a government obtain protection for exclusive use in that country |
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| the value of a brand to an organization |
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| a new product sold with the same brand name as a strong existing brand |
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| a brand that a group of individual products or individual brands share |
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| an agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specified amount of time |
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| an agreement between two brands to work together in makreting a new product EX. Oreo-Os |
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| groups of people within an organization who work together focusing exclusively on the development of a new product |
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