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Mkting Ch 11 Test
Test #2
| Question | Answer |
|---|---|
| added value a brand name gives to a product beyond the functional benefits provided | BRAND EQUITY |
| any word, device, or combo of these used to distinguish a seller's goods or services | BRAND NAME |
| set of human characteristics associated w/ a brand name | BRAND PERSONALITY |
| mkting decision by an organization to use a name, phrase, design or symbols, or combo of these to identify its products and distinguish them from those competitors | BRANDING |
| integrating the service component of the mkting mix w/ efforts to influence consumer demand | CAPACITY MANAGEMENT |
| Expanding the 4 P's framework to include productivity, people, physical environment, and process | 8 P'S OF SERVICES MKTING |
| branding trait that involves giving each prod a distinct name when each brand is intended for a diff mkt segment | MULTI-BRANDING |
| branding strat in which a company uses one name for all its prods | MULTI-PRODUCT BRANDING |
| charging diff prices during diff times of the day or days of the week to reflect variations in demand | OFF-PEAK PRICING |
| stages a new product goes through in the mktplace: intro, growth, maturity, decline | PRODUCT LIFE CYCLE |
| WHAT ARE THE STAGES OF THE PRODUCT LIFE CYCLE CONCEPT? | 1. intro 2. growth 3. maturity 4. decline (deletion or harvesting) |
| DESCRIBE DIFFUSION OF INNOVATION | 1. INNOVATORS - venturesome, higher edu, 2.5% 2. EARLY ADOPTERS - leaders in social setting, above ave edu, 13.5% 3. EARLY MAJORITY - Deliberate; informal social contacts 34% 4. LATE MAJORITY - Skeptical; below ave social status 5. |
| HOW MANAGERS MANAGE PRODUCT LIFE'S CYCLE | 1. Modify product 2. modify mkt 3. reposition prod. |
| DISCUSS THE IMPORTANCE OF BRANDING | 1. Multiproduct branding strat 2. multibranding strat 3. private branding strat 4. mixed branding strat |
| ROLE OF PACKAGING AND LABELING | 1. communication benefits 2. functional benefits 3. perceptual benefits |
| NAME THE 4 CHALLENGES LABEL DESIGNERS FACE | 1. connecting w/ customers 2. environmental 3. health/safety/security 4. cost reduction |
| name the 8 P's of service mkting | 1. Product (service) 2. Productivity 3. Price 4. Place (Distribution) 5. Promotion 6. People 7. Physical Environment 8. Process |
| skimming vs penetration | skimming- high initial price helps comp recover the costs of development as well as capitalize on the price insensitivity of early buyers penetration pricing - discourage competitive entry by price low |
| 4 shapes of product life cycle | 1. high-learning product- take time for sales to grow, learning needed 2. low-learning product -sales begin immediately b/c little learning is required 3. fashion product -sales come and go 4. fad product -rapid sales on intro & then equally rapid decl |
| manages the mkting efforts for a close-knit family of products | Brand manager |
| altering a product's characteristic, such as its quality, preformance, or appearance, to increase the product's value to customer's and increase sales | prod modification |
| measures purchases > 100 is above ave product category purchases | Category Development Index (CDI) |
| measures brand position > 100 indicates strong brand position in a segment | Brand Development Index (BDI) |
| adding value to the product through additional feats or higher-quality materials | Trading Up |
| reducing the # of feats, quality, price | Trading Down (Downsizing) |
| use a current brand name to enter a new mkt segment in product class | Product line extension |
| combines a corp or family brand w/ new brand | subbranding |
| current brand name to enter a diff prod class | brand extension |
Created by:
mwoltner
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