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Definition
| The need-satisfying offering of a firm. |
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| A product's ability to satisfy a customer's needs or requirements. |
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| The set of all product lines and individual products that a firm sells. |
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| A set of individual products that are closely related. |
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| A particular product within a product line. |
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| The use of a name, term, symbol, or design-or a combination of these-to identify a product. |
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| A word, letter, or group of words or letters. |
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Definition
| Those words, symbols, or marks that are legally registered for use by a single company. |
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Definition
| Those words, symbols, or marks that are legally registered for use by a single company to refer to a service offering. |
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Definition
| How well customers recognize and accept a company's brand. |
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Definition
| Potential customers won't buy a brand-unless its image is changed. |
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Definition
| Final customers don't recognize a brand at all-even though intermediaries may use the brand name for identification and inventory control. |
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Definition
| Customers remember the brand. |
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Definition
| Target customers usually choose the brand over other brands, perhaps because of habit or favorable past experience. |
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| Customers insist on a firm's branded product and are willing to search for it. |
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Definition
| The value of a brand's overall strength in the market. |
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Definition
| A 1946 law that spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them. |
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Definition
| A brand name that is used for several products. |
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Definition
| A well-known brand that sellers pay a fee to use. |
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Definition
| Separate brand names used for each product. |
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Definition
| Products that have no brand at all other than identification of their contents and the manufacturer or intermediary. |
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Definition
| Brands created by producers. |
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| Brands created by intermediaries-sometimes referred to as private brands. |
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| Brands created by intermediaries-sometimes referred to as dealer brands. |
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Definition
| The competition between dealer brands and manufacturer brands. |
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Definition
| Promoting, protecting, and enhancing the product. |
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Term
| Federal Fair Packaging & Labeling Act |
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Definition
| A 1966 law requiring that consumer goods be clearly labeled in easy-to-understand terms. |
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Definition
| What the seller promises about its product. |
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| A 1975 law requiring that producers provide a clearly written warranty if they choose to offer any warranty. |
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Definition
| Products meant for the final consumer. |
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Definition
| Products meant for use in producing other products. |
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Definition
| Products a consumer needs but isn't willing to spend much time or effort shopping for. |
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Definition
| Products that are bought often, routinely, and without much thought. |
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Definition
| Products that are bought quickly as unplanned purchases because of a strongly felt need. |
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Definition
| Products that are purchased immediately when the need is great. |
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Definition
| Products that a customer feels are worth the time & effort to compare with competing products. |
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Term
| Homogeneous Shopping Products |
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Definition
| Shopping products the customer sees as basically the same and wants at the lowest price. |
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Term
| Heterogeneous Shopping Products |
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Definition
| Shopping products the customer sees as different and wants to inspect for quality and suitability. |
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Definition
| Consumer products that the customer really wants and makes a special effort to find. |
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Definition
| Products that potential customers don't yet want or know they can buy. |
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Definition
| Products offering really new ideas that potential customers don't know about yet. |
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| Regularly Unsought Products |
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Definition
| Products that stay unsought but not unbought forever. |
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Definition
| Demand for business products derives from the demand for final consumer products. |
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Definition
| A product whose total cost is treated as a business expense in the period it's purchased. |
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Definition
| A long-lasting product that can be used and depreciated for many years. |
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Definition
| Important capital items such as buildings, land rights, and major equipment. |
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Definition
| Short-lived capital items-tools and equipment used in production or office activities. |
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| Unprocessed expensive items-such as logs, iron ore, and wheat-that are moved to the next production process with little handling. |
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| Products grown by farmers, such as oranges, sugar cane, and cattle. |
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| Products that occur in nature-such as timber, iron ore, oil, and coal. |
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| Processed expense items that become part of a finished product. |
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Definition
| Expense items that do not become part of a finished product. |
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| Specialized services that support a firm's operations. |
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