| A | B |
|---|
| nonbranded products that usually sell at a sizable discount compared to national or private brand labels | generic goods |
| products that don't carry the manufacturers name but carry a distributor or retailers name instead | dealer brands/private labels |
| illegal copies of national brand-name goods | knockoff brands |
| manufacturers that distribute products nationally | national brands/ manufacturers' brands |
| _________ consists of a letter, word, group of letters or group of words that differentiate one seller's goods and services from those of a competitors. | brand name |
| A brand includes | name, symbol, design |
| element used to legally protect a brand name and its design | trademark |
| according to trademark laws your brand must have this type of difference from other brands to be allowed on the market and not be considered trademark infringement | a significant |
| an illegal non-branded product sold at a large discount compared to the brand name version product | knockoff brand |
| customers will quickly have that brand name come to mind when asked about a certain product category if a brand has good | brand awareness |
| when a customer prefers one brand over another | brand preference |
| trying to get customers to think of your brand when they think of certain characteristics or attributes is known as | brand association |
| This employee has direct responsibility for one brand or product line and manages all elements for its marketing mix | brand manager |
| In business to business companies, brand managers are often referred to as | product manager |
| Consumers' perception of a product's quality is typically affected by | appearance, reputation and price |
| four stages of the product lifecycle | introduction, growth, decline, maturity |
| Different stages in the product life cycle call for | different marketing strategies |
| stage in the product life cycle has low sales even to the point of incurring a loss and very few competitors | introduction |
| stage in the product life cycle has peak sales but also will start to see a drop in profits | maturity |
| stage in the product life cycle has rapidly rising sales and an increased number of competitors | growth |
| 1st step in new product development process | Idea generation |
| 2nd step in new product development process | product screening |
| 3rd step in new product development process | product analysis |
| 4th step in new product development process | development |
| 5th step in new product development process | testing |
| 6th step in new product development process | commercialization |
| Many goods can be classified as | both industrial and consumer goods |
| Everything that consumers evaluate when deciding whether to buy something | total product offer |
| this step in new product development process involves coming up with ideas based on consumer wants and needs | idea generation |
| this step in new product development process helps reduce the number of new-product ideas a firm is working on at any one time so it can foucs on the most promising idea | product screening |
| this step in new product development process involves making cost estimates and sales forecasts to get a feeloong for the profitability of a new product idea | product analysis |
| this step in new product development process begins to develop the idea further once it has passed the screening and analysis steps | product development |
| this step in new product development process involves taking the product idea to consumers to gauge their reactions | testing |
| this step in new product development process includes promoting a product to distributors and retailers to get wide distribution while also developing strong ad and sales campaigns to generate and maintain interest | commercialization |
| 4 P's of marketing (aka the marketing mix) | product, place, price, promotion |
| products used in the production of other products; sometimes called business or B 2 B goods | Industrial goods |
| The combination of product lines offered by a manufacturer or ALL products/services a company offers | product mix |
| A group of products that are physically similar or intended for a similar market | product line |
| companies use this to change and improve their basic product | packaging |
| grouping two or more products together and pricing them as a unit | bundling |
