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17 Cards in this Set
- Front
- Back
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Types of Products |
Specialty: customers show a strong preference that they will expend considerable effort to search. Ie: Wedding Gowns, prom dresses Shopping: consumers will spend a fair amount of time comparing alternative. Ie: shoes Convenience: consumers willing to spend minimum effort to evaluate prior to purchase. Ie: Canned goods, candy Unsought: consumers either do not normally think of buying or do not know about. Ie: Dictionary, medical supplies
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Product Mix |
Product mix is the complete set of all products offered by a firm. |
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Product Lines |
Product lines are groups of associated items as part of a group of similar products. Product line depth: the number of products sighing a product line. |
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What Makes a Brand? |
Brand name URLs Logos and symbols Characters Slogans Jingles/Sounds |
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Value of Branding for the Customer |
Facilitate Purchasing Establish loyalty Protect from competition Reduce marketing costs Are assists Impact market value |
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Brand Equity |
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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Brand Awareness |
Measures how many consumers are familiar with the brand and what it stands for and have an opinion about that brand |
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Perceived Value |
The relationship between a product or service benefits and it’s cost |
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Brand Associations |
Reflect the mental links that consumers makes between a brand and it’s key product attributes, such as a logo, slogan, or famous personality |
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Brand Loyalty |
Consumers are often less sensitive to price Marketing costs are much lower Firm insulated from the competition |
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Brand Ownership |
Manufacturer Brands Retailer/Store Brands |
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Naming Brands and Product Lines |
Family Brands Individual Brands |
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Brand and Line Extensions |
The use of the same brand name for new products being introduced to the same or new markets |
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Brand Dilution |
Occurs when the brand extension adversely affects consumer perceptions about the core brand |
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Come branding |
The practice of marketing two or more brands together, on the same package or promotion |
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Brand Licensing |
A contractual agreement between firms, whereby one firm allows another to use its brand name, logo, symbols, and or characters in exchange for a negotiated fee |
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Brand Repositioning |
A strategy in which marketers change a Brands focus to target new markets or realign the Brands core emphasis with changing market preferences |
