Flashcards in Chapter 10: Product Concepts Deck (39)
Anything, both favourable and unfavourable, received by a person in exchange for possession, consumption, attention, or short-term use.
A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.
A product bought to satisfy an individual's personal wants. Four types of consumer products: convenience, shopping, specialty, and unsought products.
A relatively inexpensive item that merits little shopping effort. Ex. candy or gum.
A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. Two categories are heterogenous (distinct characteristics) or homogenous (ones that do the same thing) shopping products. Ex. computer.
A particular item with unique characteristics for which consumers search extensively and for which they are very reluctant to accept substitutes. Ex. cars.
A product unknown to the potential buyer or a known product that the buyer does not actively seek.
A specific version of a product that can be designated as a distinct offering among an organization's products. (Tomato soup from Campbell).
A group of closely related product items. (Campbell's different kind of soups).
All products that an organization sells. (Everything Campbell's sells).
Product mix width
The number of product lines an organization offers.
Product line length
The number of product items in a product line.
Product line depth
The different versions of a product item in a product line.
Changing one or more of a product's characteristics.
The practice of modifying products so those that have already been sold become obsolete before they actually need replacement.
Product line extension
Adding products to an existing product line to compete more broadly in the industry.
A name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitor's products.
That part of a brand that can be spoken, including letters, words, and numbers.
The elements of a brand that cannot be spoken.
The value of company and brand names.
A brand with at least 20 percent of the product sold outside its home country or region.
A consistent preference for one brand over all others.
A no-frills, no-brand-name, low-cost product that is simply identified by its product category.
The brand name of a manufacturer that actually manufactures the product it is selling. Ex. Samsung.
A brand name owned by a wholesaler or retailer. Ex. President's Choice, owned by Loblaws which owns Superstore.
The use of different brand names for different products. Ex. Procter and Gamble having all kinds of laundry detergent brands like Tide, Cheer, etc.
The marketing of several different products under the same brand name. Ex. Sony products.
Placing two or more brand names on a product or its package.
The exclusive right to use a brand or part of a brand.