Marketing Chapter 10: Managing Successful Products, Services, and Brands

Some important aspects of product life cycles are:

(1) their length (2) the shape of their sales curves, and (3) the rate at which consumers adopt products

the last step in building brand equity is creating

a consumer-brand connection

an example of a trading up re-positioning strategy is

a tire manufacturer offering more value by adding "run-flat" technology.

a product manager is sometimes called a(n) _____________ manager

brand

when a brand extension confuses consumer perceptions about the core brand, it is known as

brand dilution

The use of the same brand name for new products being introduced into a different product class is known as:

brand extension

a ____________ is any word, device (design, sound, shape, or color), or combination of these used to distinguish a seller's products or services.

brand name

____________ allows consumers to be more efficient shoppers by streamlining decision making, particularly external search.

branding

_____________ emphasizes efforts to influence consumers demand, since services are both inseparable and perishable.

capacity management

the integration of the marketing mix with efforts to influence consumer demand is known as

capacity management

The service component of the marketing mix must be integrated with efforts to influence consumer demand. This is referred to as _________________.

capacity managment

the product ___________ of prerecorded music includes product _________ like cassette tapes, CDs, and digital music.

class; forms

multi-product branding is also called _____________ and ______________.

corporate branding family branding

the _________ stage occurs when sales drop. Frequently, a product enters this stage not because of any wrong strategy on the part of companies, but because of environmental changes.

decline

__________ of ____________ is the process by which the use of a product spreads throughout a market group over time and over various categories of adopters

diffusion of innovation

Honda's established name for motor vehicles has allowed it to employ brand ______________, using its brand to sell products in other categories like snowblowers and marine engines.

extensions

the ___________ stage of the product life cycle is characterized by rapid increases in sales. It is in this stage that competitors appear

growth

management of the physical environment for services is sometimes known as __________ management.

impression

according to the diffusion of innovation curve, ____________ adopt a new product first and ____________ adopt it last.

innovators;laggards

in the ___________ stage for the product life cycle, advertising and promotional spending is used to stimulate primary demand and build awareness

introduction

the ___________ stage of the product life cycle occurs when a product is introduced to its intended target market. During this period, sales grow slowly, and profit is minimal.

introduction

Private-label branding is popular beause

it results in high profits for manufacturers and resellers

with __________ strategies, a company tries to find new customers, increase a product's use among existing customers, or create new use situations

market modification

the __________ stage is characterized by a slowing of total industry sales or product class revenue. Also, marginal competitors begin to leave the market.

maturity

when a firm markets products under its own name and that of a reseller because each attracts different segments, it is called a _________ strategy.

mixed branding

product bundling is one approach that may be used in a product ____________strategy to increase a products value to customers

modification

with __________________, a company uses one name for all its products in a product class. This approach is sometimes called family branding or corporate branding when company's trade name is used.

multiproduct branding

Many service businesses use ______________, which consists of charging different prices during different seasons of the year and different times of the day or days of the week to reflect variations in demand for the service.

off-peak pricing

______________ is charging different prices during different times of the day or week to reflect variations in demand

off-peak pricing

For firms competing in the global marketplace, "country of origin" advertised on product is an example of which kind of benefit added b packaging the labels?

perceptual

When Rayovac manufactures batteries that are sold under the RadioShack brand, it is an example of _______________ brand

private

the ___________ factor for services refers to the actual procedures, mechanisms, and flow of activities by which the service is created and delivered.

process

In addition to traditional four P's, what are the other 3 factors that also require effective management within service organizations?

process people physical environment

_______________ refers to the entire product category or industry, such as prerecorded music

product class

_______________ pertains to variations of a product within the product class.

product form

The concept of the ______________ describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline.

product life cycle

a _____________ extension is the practice of using a current brand name to enter a new market segment in its product class.

product line

_________ involves altering one of more of a product's characteristics, such as its quality, performance, or appearance, to increase the product's value to customers and increase sales.

product modification

emphasis on availability, location, quality, and service, as well as a physical representation of the service encounter should be included in an organization's

promotional programs

private brands are also known as ____________ brands

reseller

both mass communication and technological change affect the product life cycle by

shortening it

some firms use __________ for each of their products, in addition to the family brand, to distinguish different parts of the product line

subbranding

A product line extension benefits from

the brand equity of the multiproduct brand

primary demand, often stimulated during the introduction stage, is ___________

the desire for the product class

a(n) ____________ identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

trademark