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.

product mix

See product assortment. The complete set of all products offered by a firm.

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 non-physical attributes of the product including product warranties, financing, product support, and after-sale service.

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 brands

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 _______.

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.

consumer product

Products and services used by people for their personal use.

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.

individual brands

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

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 _____ 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.