Term
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Definition
| defines the basic problem-solving benefits that consumers are seeking |
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Term
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Definition
| brand name, quality level, packaging, features/design |
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Term
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Definition
| financing, product warranty, product support, (AKA augmented product) |
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Definition
| products and services used by people for their personal use |
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Term
| specialty products/services |
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Definition
| customers show strong preference that they will expend considerable effort to search for their best suppliers (Bikes) |
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| shopping products/services |
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Definition
| consumers will spend a air amount of time comparing alternatives (ex furniture, clothes) |
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| convenience products/services |
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Definition
| consumer is not willing to spend any effort to evaluate prior purchase |
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Term
| unsought products/services |
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Definition
| consumers either do not normally think of buying or do not know about |
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Term
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Definition
| the complete set of all products offered by a firm |
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Term
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Definition
| groups of associated items that consumers tend to use together or think of as a part of a group |
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Term
| branding (what makes a brand?) |
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Definition
| the ability to differentiate its product offerings from those of its competitors (though name, URLs, logos/symbols, characters, slogans, jingles) |
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Term
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Definition
| helps customers make quick decisions based on knowledge of brand, establishes loyalty, protects from competition, reduce marketing costs, act as assets, impact market value |
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Term
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Definition
| the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service |
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Term
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Definition
| one for which there is a contractual arrangement between firms |
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Term
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Definition
| measures how many consumers in a market are familiar with the brand and what it stands for and have an opinion about that brand |
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Definition
| the relationship between a product or service's benefit and its cost |
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Term
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Definition
| ecologically safer products |
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Term
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Definition
| reflect the mental link that consumers make between a brand and its key product attributes such as a logo, slogan, or famous person |
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Term
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Definition
| refers to such a set of human characteristics associated with a brand |
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Term
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Definition
| occurs when a consumer buys the same brand's product or service repeatedly over time rather than buy from multiple suppliers |
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Term
| brand ownership (as a strategy) |
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Definition
| Two forms: Manufacturer brands and Private-label brands |
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Term
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Definition
| (AKA national brands) are owned and managed by the manufacturer (Ex. Nike) |
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Term
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Definition
| (AKA store brands) are products developed by retailers (Ex. Walmart's "Great Value" brand) |
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Definition
| when the brand extension adversely affects consumer perceptions about the attributes the core brand is perceived to have (Ex. Lifesavers soda) |
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Term
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Definition
| the use of the same brand name in different product line (Ex. Crest sells toothpaste, brush, and mouthwash) |
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Term
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Definition
| the use of the same brand name within the same product line and represents an increase in a product lines' depth |
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Term
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Definition
| the practice of marketing two or more brands together, on the same package or store (Ex. Pizza Hut and Taco Bell) |
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Term
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Definition
| a contractual agreement between firms, whereby one firm allows another to use its brand name, logo, symbols (Ex. Armani also has name on sleek new phones) |
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Term
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Definition
| (AKA rebranding) refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with a changing market preferences |
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