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Marketing 3000-Chapter 9
Chapter 9
36
Marketing
Undergraduate 3
02/25/2010

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Term
product
Definition
everything, both favorable and unfavorable, that a person receives in an exchange
Term
business product (industrial product)
Definition
a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.
Term
consumer product
Definition
a product bought to satisfy an individual's personal wants
Term
convenience product
Definition
a relatively inexpensive item that merits little shopping effort
Term
shopping product
Definition
a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores.
Term
specialty product
Definition
a particular item that consumers search extensively for and are very reluctant to accept substitutes.
Term
unsought product
Definition
a product unknown to the potential buyer or a known product that the buyer does not actively seek
Term
product item
Definition
a specific version of a product that can be designated as a distinct offering among an organization's products
Term
product line
Definition
a group of closely related product items
Term
product mix
Definition
all products that an organization sells
Term
product mix width
Definition
the number of product lines an organization offers
Term
product line depth
Definition
the number of product items in a product line
Term
product modification
Definition
changing one or more of a product's characteristics
Term
planned obsolescence
Definition
the practice of modifying products so those that have already been sold become obsolete before they actually need replacement.
Term
product line extension
Definition
adding additional products to an existing product line in order to compete more broadly in the industry
Term
brand
Definition
a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products
Term
brand name
Definition
that part of a brand that can be spoken, including letters, words, and numbers
Term
brand mark
Definition
the elements of a brand that cannot be spoken.
Term
brand equity
Definition
the value of company and brand names
Term
global brand
Definition
a brand where at least 20% of the product is sold outside its home country or region
Term
brand loyalty
Definition
a consistent preference for one brand over all others
Term
generic product
Definition
a no-frills, no-brand-name, low-cost, product that is simply identified by its product category
Term
manufacturer's brand
Definition
the brand name of a manufacturer
Term
private brand
Definition
a brand name owned by a wholesaler or a retailer
Term
individual branding
Definition
using different brand names for different products
Term
family brand
Definition
marketing several different products under the same brand name
Term
cobranding
Definition
placing two or more brand names on a product or its package
Term
trademark
Definition
the exclusive right to use a brand or part of a brand
Term
service mark
Definition
a trademark for a service
Term
generic product name
Definition
identifies a product by class or type and cannot be trademarked
Term
persuasive labeling
Definition
a type of package labeling that focuses on a promotional theme or logo and consumer information is secondary
Term
informational labeling
Definition
a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
Term
universal product codes (UPCs)
Definition
a series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products
Term
warranty
Definition
a confirmation of the quality of performance of a good or service
Term
express warranty
Definition
a written guarantee
Term
implied warranty
Definition
an unwritten guarantee that the good or service is fit for the purpose for which it was sold
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