Term
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Definition
| purchased frequently and immediately with minimum buying effort. |
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Term
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Definition
| expensive (in consumer’s mind) and takes time to compare. |
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Term
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Definition
| goods with unique characteristics, limited distribution and will make special effort to purchase. |
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Term
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Definition
| installation equipment / goods deprecated. |
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Term
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Definition
| finished goods with a number of life years, but not depreciated |
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Term
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Definition
| Finished goods used to make other goods |
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Term
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Definition
| used to make finished goods(raw materials) |
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Term
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Definition
| keep daily operation going |
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Term
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Definition
| all the product of an organization |
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Term
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Definition
| a group of product that are similar |
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Term
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Definition
| the number of product lines in the product mix. |
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Term
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Definition
| the number of products in a product line. |
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Term
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Definition
| new product with existing brand name to an existing product category. |
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Term
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Definition
| extend the current brand name to a new category. |
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Term
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Definition
| Introducing a new brand into an existing category. |
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Term
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Definition
| creating a new brand for a new category. |
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Term
| Advantage of brand development strategies |
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Definition
-Increase dominance in the market
-Use company resources more efficiently
-Diversify risk |
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Term
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Definition
| Identity and name for product |
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Term
| Why is branding important? |
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Definition
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Term
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Definition
Manufacture brand
Private Level brand
Generic Brand |
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Term
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Definition
| An agreement between two manufactures to work together in making a new product. |
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Term
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Definition
| one firms sells forms the right to use its name |
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Term
| Classification of New Products |
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Definition
-Continuous Innovations
-Discontinuous innovations |
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Term
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Definition
oInnovator
oEarly Adopters
oEarly Majority
oLate Majority
oLaggards |
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Term
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Definition
oIntroduction
oGrowth
oMaturity
oDecline |
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Term
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Definition
o Goal is to create awareness and first time buyers to try product
o Heavy advertising and promotion
o Profits are negative
o Personal Selling is intense |
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Term
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Definition
o Goal is encourage brand loyalty
o Sales are increase
o Profits are increasing
o Everyday pricing in effect
o Competition is coming in with vengeance
o Advertising and promotion expenses significantly cut back |
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Term
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Definition
o Sales level off
o Heavy advertising and promotion
o Profit margin narrows
o Goal is to stabilize sales and or extend life cycle o Personal Selling essential |
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Term
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Definition
o Sales decline
o Profits margin healthy
o Personal Selling keep distribution as long as possible
o decision. Keep or let die? |
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Term
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Definition
| task or activity performed for a buyer |
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Term
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Definition
| customers is not directly involved in task(e.g lawn care) |
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Term
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Definition
| consumer is directly involved and immediately gratified |
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