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the one & only stack
product planning
| Term | Definition |
|---|---|
| price bundling | a strategy whereby a seller bundles together many different goods/items being sold and offers the entire bundle at a single price |
| product bundling | offering several products for sale as one combined product. It is a common feature in many imperfectly competitive product markets. Industries engaged in the practice include telecommunications, financial services, health care, and information. |
| brand licencing | It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory. |
| product positioning | a marketing technique intended to present products in the best possible light to different target audiences |
| brand extension | an instance of using an established brand name or trademark on new products, so as to increase sales. |
| co-branding | designate (a product or service) with the brands of joint manufacturers or sponsors |
| mixed brands | when a product sold as a "name brand" and a "store brand" are identical. |
| package | what the product is presented in |
| label | the name brand |
| gap | difference between what is available and what is needed |
| product life cycle | cycle through which every product goes through from introduction to withdrawal or eventual demise |
| product develpment | modification of an existing product or its presentation, or formulation of an entirely new product that satisfies a newly defined customer want or market niche. |
| market research | the action or activity of gathering information about consumers' needs and preferences |
| trade character | key element of building the brand for a product or an organization |
| brand name | a name given by the maker to a product or range of products, especially a trademark |
| brand mark | Represents a branding decision in which a design element, such as a symbol, logo, character or sound, is used to provide visual or auditory recognition for a product. |
| product mix | total number of product lines that a company offers to its customers |
| line extentions | is the use of an established product brand name for a new item in the same product category |
| brand extentions | an instance of using an established brand name or trademark on new products, so as to increase sales. |
| product modifications | is an attempt by companies to extend the length of the Product Life Cycle by making small, or big changed to a product to keep customers interested in the product, or cause them to buy accessory items to keep the product |
| product opportunites | detailed review of the prospects for a product within a potential market |
| branding strategies | a long-term plan for the development of a successful brand in order to achieve specific goals |
| product line | group of related products under a single brand sold by the same company |
| product item | is the item offered for sale |
| product width | This refers to the number of product lines within the product mix |
Created by:
soupier16
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