Marketing Chapter 11

brand repositioning (rebranding)

A strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences.

rebranding (brand repositioning)

See brand repositioning.

brand association

The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.

depth

The number of categories within a product line.

primary package

The packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms of storage, use, and consumption.

Actual Product

The physical attributes of a product including the brand name, features/design, quality level, and packaging.

co-branding

The practice of marketing two or more brands together, on the same package or promotion.

perceived value

The relationship between a product's or service's benefits and its cost.

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.

associated services

(also called augmented product) The nonphysical attributes of the product including product warranties, financing, product support, and after-sale service. Also called augmented product.

augmented product

(also called augmented product) The nonphysical attributes of the product including product warranties, financing, product support, and after-sale service. Also called augmented product.

brand licensing

A contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee.

family brand

A firm's own corporate name used to brand its product lines and products.

product

Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

private-label brands

Brands developed and marketed by a retailer and available only from that retailer; also called store brands.

manufacturer brands (national brands)

Brands owned and managed by the manufacturer.

cannibalize

From a marketing perspective, it is the negative impact on a firm's sales, profits, or market share when one product competes closely with a similar product offered by the same company.

product lines

Groups of associated items, such as those that consumers use together or think of as part of a group of similar products.

brand awareness

Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.

breadth

Number of product lines offered by a firm; also known as variety.

brand dilution

Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

brand loyalty

Occurs when a consumer buys the same brand's product or service repeatedly over time rather than buying from multiple suppliers within the same category.

sustainable packaging

Product packaging that has less of a negative impact on the environment.

consumer product

Products and services used by people for their personal use.

retailer/store brands

Products developed by retailers. Also called private-label brands.

unsought products/services

Products or services consumers either do not normally think of buying or do not know about.

specialty products/services

Products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers.

core customer value

The basic problem-solving benefits that consumers are seeking.

product mix

The complete set of all products offered by a firm.

individual brands

The use of individual brand names for each of a firm's products.

predictive analytics

The use of statistics on data to determine patterns and predict future outcomes and trends.

brand extension

The use of the same brand name for new products being introduced to the same or new markets.

line extension

The use of the same brand name within the same product line and represents an increase in a product line's depth.

secondary package

The wrapper or exterior carton that contains the primary package and provides the UPC label used by retail scanners; can contain additional product information that may not be available on the primary package.

shopping products/services

Those for which consumers will spend time comparing alternatives, such as apparel, fragrances, and appliances.

convenience products/services

Those for which the consumer is not willing to spend any effort to evaluate prior to purchase.