chapter 10 Marketing book 2nd ed. Grewal/Levy
Business Administration 223 with Michaelhansen at Central Oregon Community College
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product
anything that is of value to a consumer and can be offered through a voluntary marketing exchange
product assortment
the complete set of all products offered by a firm; also called the product mix
product lines
groups of associated items, such as those that consumers use together or think of as part of a group of similar products
product category
an assortment of items that the customer sees as reasonable substitutes for one another
brand
the name, term, design, symbol, or any other features that identify one seller's good or service as distinct from those of other sellers
breadth
number of product lines offered by a firm; also know as variety
depth
number of categories within a product line
stock keeping units SKUs
individual items within each product category; the smallest unit available for inventory control
category depth
the number of stock keeping units (SKUs) within a category
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
manufacturer brands (national brands)
brands owned and managed by the manufacturer
private-label brands
brands developed and marketed by a retailer and available only from that retailer; also called store brands or private label brands
premium brand
a branding strategy that offers consumers a private label of comparable or superior quality to a manufacturer brand
generic (house) brand
no frills product offered at a low price without any branding information
copycat brands
mimic a manufacturer's brand in appearance but generally with lower quality and prices
exclusive cobrand
developed by national brand vendor and retailer and sold only by that retailer
brand
the name, term, design, symbol, or any other features that identify one seller's good or service as distinct from those of other sellers
individual brands
the use of individual brand 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
brand dilution
occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold
co-branding
the practice of marketing two or more brands together, on the same package or promotion such as dunkin' donuts and baskin robbins
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
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
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 consuption.
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
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