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Product Planning
Michael Hall
Term | Definition |
---|---|
Product Plannin | The decisions made about what features should be used in selling of a business’s products. |
Product Mix | All the different products that a company makes or sells. |
Product Line | A group of closely related products manufactured or sold by a business. |
Product item | specific model, brand, or size of a product within a product line. |
Product Width | The number of different product lines a business manufactures or sells. |
Product Depth | The number of product items in a product line. |
Product Positioning | Efforts a business makes to identify, place, and sell its products in the marketplace. |
Line Extentions | Adding new product lines, items or services. |
Product Modifications | An alteration to an existing product: New and different varieties, Formulations, Colors, Styles, Features, Sizes |
Product Bundling | when two or more similar products are placed on sale for one package price |
Brand Name | Word or group of words that can be spoken. |
Brand Mark | Unique Symbol, design, distinctive coloring, or lettering |
Trade Name | Identifies the company or a division of a particular corporation. |
Trade Character | A personified brand mark. |
Trademark | word, name, symbol, sound, device, or combination that has been given legal protections by the federal government. |
Package | Physical container or wrapping for a product. |
Label | Information tag, wrapper, seal, or imprinted message that is attached to a product or package. |
Brand Extensions | Uses an existing brand name to promote a new and improved product in a company’s product line |
Brand Licensing | Allows others to use the brand name for a fee |
Mixed Brands | National manufacturer makes the product for a private label |
Co-Branding | Combines one or more brands |
Gap | the difference between what is currently available and what is needed/desired |
Product Development | The first step is to generate new business ideas that are unique. – Can the product be • Repositioned • Improved • Brought out in a new size, flavor, or package? |
Brand | Name, design or symbol that identifies the products of a company. |