Term
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Definition
| More important than ever today because product life cycle is faster than ever today. |
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Term
| Product Planning Includes |
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Definition
| Attributes,branding,packaging,labeling and product support services. |
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Term
| Objective and Strategies for individual Products |
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Definition
Introduces new products
Breath new life in mature products |
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Term
| Objectives and strategies for multiple products |
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Definition
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Term
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Definition
| a company total product offering that satisfy a single need |
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Term
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Definition
| all of the products that a company offers. |
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Term
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Definition
Full line vs. limited line strategies
upward,downward, or two -way line stretch
filling out or contracting a product line |
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Term
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Definition
Width of Product mix
Length of Product mix
Depth of Product mix
Consistency of Product mix |
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Term
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Definition
| offers a large # of variations |
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Term
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Definition
| offers fewer versions of a product |
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Term
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Definition
adds new items-higher priced and claiming more quality,
*Banana Republic and the Gap |
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Term
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Definition
augments a line by adding items at the lower end
* Gap and Old Navy |
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Term
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Definition
adds products at both the upper and lower ends.
* Banana Republic-Gap-Old Navy |
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Term
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Definition
| adding sizes or styles not previously available in the product category |
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Term
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Definition
| the number of different product lines a company offers |
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Term
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Definition
| the # of items in a product line |
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Term
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Definition
| the # of version offered for each product in a product line. |
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Term
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Definition
| how closely related are product lines are |
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Term
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Definition
| the overall ability of a product to satisfy expectations |
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Term
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Definition
| a company wide dedication to continuous improvement |
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Term
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Definition
| A voluntary quality standard set up by the international organization for standardization. |
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Term
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Definition
| environmental management aimed at minimizing harmful effects on the environment |
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Term
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Definition
| A process whereby firms work to limit products defects to 3.4 per million or fewer. |
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Term
| Adding Quality to Marketing mix:Product |
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Definition
| Improves customer service |
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Term
| Adding Quality To Marketing Mix:Place |
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Definition
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Term
| Adding Quality to Marketing Mix:Price |
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Definition
| lower price, but not quality |
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Term
| Adding Quality to Marketing Mix:Promotion |
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Definition
| give customers info when and where they want or need it. |
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Term
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Definition
The introduction Stage
The growth stage
The maturity stage
The decline stage |
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Term
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Definition
First stage in the product life cycle
-Slow growth-selective distribution,promote product trial
-goal is to get first time buyers to by the product
-no profit during this stage |
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Term
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Definition
product is accepted and sales increase rapidly
-goal encourage brand loyalty
-may offer new versions of the product
-more intensive distribution
-Reduce amount spent on promotion |
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Term
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Definition
longest stage-can last for decades or longer
-sales peak and profit margins narrow
-diversify board
-reduced price because of competition
-more intensive distribution
-more money spent on promotion
-want to encourage brand switching. |
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Term
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Definition
| Sales decrease as customers needs change, market begins to shrink, Companies have to decide to keep product or not,prices are lowered, offer less versions of the product, go back to selective distribution, reduced promotion to a minimum level. |
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Term
| Creating Product Identity:Branding Decisions-Brand |
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Definition
| A unique element that identifies a firms products |
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Term
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Definition
| Is memorable, positions a product by conveying a image or personality, easy to say spell read and remember, fits target market its product benefits and as well as legal requirements, tells what a product does, |
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Term
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Definition
1.Tells a story-helps people to remember and makes a connection
2.Offers Legal Protection
3.Help to segment markets |
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Term
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Definition
Helps with product identification
Help with product quality |
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Term
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Definition
Legal term for a brand name, brand mark, or trade character.
Symbol in the US is ®
Common law protection |
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Term
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Definition
| a firm that has use of the name and has established it over a period of time will be protected. |
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Term
| The importance of branding |
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Definition
Brand Equity
Brand Meaning
Competitive advantage
Brand extensions |
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Term
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Definition
the overall value of the brand, the effect the brand has over a generic version
*Coke has the highest brand equity in the world |
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Term
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Definition
| the beliefs and associations that a consumer has about a brand |
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Term
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Definition
| larger market share higher prices wider profit margins. |
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Term
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Definition
| new product with the same brand name |
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Term
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Definition
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Term
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Definition
| when one company sells the right to use their brand name for a specific purpose, for a specific period of time |
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Term
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Definition
| when two brands are combined |
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Term
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Definition
| provides info, help with storage and use |
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Term
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Definition
| National system of product identification |
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Term
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Definition
| specialist from different areas who work on new product development |
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Term
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Definition
| a small isolated group that work at remote location on new product development. Minimal supervision |
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Term
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Definition
Individual brands vs. Family brands
National and Store Brands
Generic Brands
Licensing
Co-branding |
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Term
| Individual Branding Strategy |
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Definition
| Market multiple items under the same brand name |
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Term
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Definition
| a brand that a group of individual products or individual brand shares |
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Term
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Definition
| Brand owned by the manufacturer of the product |
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Term
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Definition
| private-label brands are the retail store's or chain exclusive trade name |
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