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37 Cards in this Set
- Front
- Back
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Product
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Everything, both favorable and unfavorable, that a person receives in an exchange
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Business product (industrial product)
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A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
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Consumer product
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A product bought to satisfy an individual's personal wants
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Convenience product
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A relatively inexpensive item that merits little shopping effort
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Shopping product
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A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
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Specialty product
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A particular item that consumers search extensively for and are very reluctant to accept substitutes
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Unsought product
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A product unknown to the potential buyer or a known product that the buyer does not actively seek
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Product item
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A specific version of a product that can be designated as a distinct offering among an organization's products
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Product line
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A group of closely related product items
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Product mix
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All products that an organization sell
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Product mix width
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The number of product lines an organization offers
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Product line depth
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The number of product items in a product line
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Product modification
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Changing one or more of a product's characteristics
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Planned obsolescence
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The practice of modifying products so those that have already been sold become obsolete before they actually need replacement
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Product line extension
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Adding additional products to an existing product line in order to compete more broadly in the industry
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Brand
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A name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products
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Brand name
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That part of a brand that can be spoken, including letters, words, and numbers
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Brand mark
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The elements of a brand that cannot be spoken
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Brand equity
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The value of company and brand names
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Global brand
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A brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data
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Brand loyalty
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Consistent preference for one brand over all others
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Generic product
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A no-frills, no-brand-name, low-cost product that is simply identified by its product category
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Manufacturer's brand
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The brand name of a manufacturer
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Private brand
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A brand name owned by a wholesaler or a retailer
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Captive brand
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A brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation
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Individual branding
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Using different brand names for different products
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Family brand
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Marketing several different products under the same brand name
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Cobranding
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Placing two or more brand names on a product or its package
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Trademark
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The exclusive right to use a brand or part of a brand
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Service mark
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A trademark for a service
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Generic product name
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Identifies a product by class or type and cannot be trademarked
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Persuasive labeling
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A type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary
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Informational labeling
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A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
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Universal product codes (UPCs)
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A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products
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Warranty
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A confirmation of the quality or performance of a good or a service
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Express warranty
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A written guarantee
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Implied warranty
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An unwritten guarantee that the good or service is fit for the purpose for which it was sold
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