Mktg 10

everything, both favorable and unfavorable, that a person receives in an exchange

product used to manufacture other g/s, to facilitate an org's operations, or to resell to ther customers

product bought to satisfy an individual's personal wants

• Convenience Product
• Shopping Product
• Specialty Products
• Unsought Products

• relatively inexpensive item that merits little shopping effort
• bought regularly without much planning

• product that requires comparison shopping bc it is usually more expensive than a conv. product & is found in fewer stores
• homogeneous vs hererogeneous

particular item that consumers search extensively for and are very reluctant to accept substitutes

• product unknown to the potential buyer or a known product that the buyer doesn't actively seek
• new products or things like burial plots

• specific version of a product that can be designated as a distrinct offering among an org's products
• Cream of Ckn soup is an ex of a Campbell's product item

• group of closely related prduct items
• EX: all of Campbell's soups

• Advertising economies
• Package uniformity
• Standardized components
• Efficient sales & distribution
• Equivalent quality

• all products that an org sells
• EX: Campbell's soups, sauces, beverages, etc

number of product lines an org offers

number of product items in a product line

changing on or more of a product's characteristics

the practice of modifying products so those that have already been sold become obsoltete before they actually need replacement

adding additional products to an existig product line in order to compete more broadly in the industry

• Resources become concentrated on the most important products
• No longer waste resources trying to improve sales & profits of poorly performing products
• Bc more financial & human resources are available to manage them

a name, term, symbol, design or combo thereof that identifies a seller's products and differentiates them from competitors' products

that part of a brand that can be spoken, including letters, words, and #s

the elements of a brand that cannot be spoken

• **Product Identification
• Repeat Sales
• New-Product Sales

value of company and brand names

brand that obtains at least a third of its earnings from outside its hom country, is recognizable outside its home base of customers, and has publicly avilable mktg and financial data

consistent preference for one brand over all others

the brand name of a manufacturer

• brand name owned by a wholesaler or a retailer
• EX: Walmart's "Great Value" brand

a brand manufactured by a 3rd party for an exclusive retailer, without evidence of that retailer's affiliation

using different brand names for different products

marketing several different products under the same brand name

placing two or more brand names on a product or its package

• Ingredient branding
• Cooperative branding
• Complementary branding

• a trademark for a service
• Such as: sounds, shapes, ornamental color or design, catchy phrases & abbreviations

identifies a product by calss or type and cannot be trademarked

• Persuasive: type of pkg labeling that focuses on a promotional theme or logo, and consumer info is secondary
• Informational: designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase

when a product or company attempts to give the impression of environmental friendliness whenther or not it is environmentally friendly

• Universal Product Codes (aka bar codes)
• 1st introduced in 1974

• Express: a written guarantee
• Implied: unwritten that the g/s is fit for the purpose for which it was sold