introduction to marketing chapter 8

product
benefits that a buyer receives in exchange for money
total product concept
the package of benefits a buyer receives when they purchases a product
product item
a unique product offered for sale by an organization
product mix
the total range of products offered for sale by a company
unique selling point (UPS)
primary benefit of a product or service that the feature distinguished a product from competing products
product line
a groupe of product that have major attributes in common which differ from size, form, or flavour
product line width
number of items in the line
product line depth
number of lines in the mix
consumer goods
products and services ultimately purchased for personal use
industrial (business) goods
products and services purchased to be used directly or indirectly in the production of other goods for resale
nondurable good
a tangible good normally consumed after one or a few uses
durable good
a tangible good that survives many uses
convenience goods
goods that consumers purchase frequently
shopping goods
goods that the consumer compares on suitability, quality, price, and style before making a selection
specialty goods
goods that consumers will make an effort to find and purchase because the goods possess some unique or important characteristic
capital items
expensive goods with a long life span that are used directly in the production of another good or service
installations
major capital items used directly in the production of another product
accessory equipment
items that are usually not part of a finished product
parts and materials
less expensive goods that directly enter another manifacturer’s production process
raw material
farms goods and other materials derived directly from natural resources
processed materials
materials that are used in the production of another product
component parts
goods used in the production of another product which do not change form
supplies
standardized products that are routinely purchased with a minimum of effort
brand
identifies the goods and services of an organization
brand name
that part of a brand that can be vocalized
brandmark (logo)
that part of a brand identified by a symbol or design
trademarks
brand have legal protection so that only the owner use it
patent
a provision that gives a manufacturer the sole right to develop and market a new product
individual brand strategy
the use of a different brand name for each item a company offers in the same product category
family brand
using the same brand name for a group of related products
co-branding
occurs when company uses the equity in another brand name to help market its own-brand-name product or service (two brand names on one product); or two organizations sharing common facilities for marketing purposes (ex: two restaurants in one location)
private-label brand
national brand manifacturers that make similar products under their own brand names
generic brand
a product without a brand name or identifying features
licensed brand
a brand name or trademark is used by a licensee
cult brand
a brand that captures the imagination of a small group of devotees, and help turn a fringe product into a mainstream name
packaging
design and production of the container or wrapper of a product
primary package
the package containing the actual product (ex: the jar that contains the jam)
secondary package
an outer wrapper that protects the product, often discarded once the product is used the first time
labels
printed sheets of information affixed to a package container
shipping carton
packaging that can be marked with product codes to facilitate storage and transportation of merchandise
brand design
designing the brand experience into the product or service
brand loyalty
the degree of consumer attachment to a particular brand
brand recognition
customer awareness of the brand name and package
brand preference
acceptable alternative product and will be purchased if it is available when needed
brand insistence
a consumer will search the market extensively for the brand they wants
brand equity
consumer will pay extra money to purchase the brand