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Unit 7
Term | Definition |
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Brand | A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. |
Extension | A product line extension marketed under the same general brand as a previous item or items. |
Brand Mark | The brand mark is that part of a brand name that cannot be spoken. |
Brand Name | The brand name is that part of a brand that can be spoken. |
Category Management | The marketing of the several brands falling under a generic product category such as coffee, dessert, and oral hygiene. |
Descriptive Label | The use of descriptive information (e. g., size, ingredients, or use) on labels. |
Generic Brands | A product that is named only by its generic class (e. g., drip-grind coffee, barber shop) |
Grade Label | A system of identification that describes products by their quality, using agreed-on numbers or letters. |
Label | The information attached to or on a product for the purpose of naming it and describing its use, its dangers, its ingredients, its manufacturer, and the like. |
Mixed Bundling | The practice of offering for sale two or more products or services either at individual prices or for one single price. |
National Brands | A brand that is marketed throughout a national market. It contrasts with regional brand and local brand. |
Package | The container used to protect, promote, transport, and/or identify a product. |
Planograms | A visual plan showing the physical allocation of product display space within a product grouping used for standardizing merchandise presentation. |
Price Bundling | The practice of offering two or more products or services for sale at one price |
Product Life Cycle | Has four stages: Introduction, growth, maturity, decline |
Product Line | A group of products marketed by an organization to one general market. |
Product Mix | The full set of products offered for sale by an organization. |
Product Modification | The altering of a current product so as to make it more appealing to the market place |
Product Positioning | How the innovator firm decides to compare the new item to its predecessors and creates an impression in the customers mind. |
Trade Name | A trademark that is used to identify an organization rather than a product or product line. |
Trade Character | People, animals, animated characters, objects, or the like that are used in advertising a brand and that come to be identified with the brand, in much the same way that a trademark is identified with a brand |
Trademark | A legal term meaning the same as brand, it includes brand name and brand mark. |
Product Planning | making decisions about what features should be used in selling a business's products, services, or ideas |