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MP Chapter 10
Managing Successful Products, Services, and Brands
| Term | Definition |
|---|---|
| product life cycle | The stages a new product goes through in the marketplace: introduction, growth, maturity, and decline. |
| branding | An organization's use of a name, phrase, design, symbol, or combination of these to identify and distinguish its products. |
| brand name | Any word, device (design, shape, sound, or color), or combination of these used to distinguish a seller's goods or services. |
| brand personality | A set of human characteristics associated with a brand name. |
| brand equity | The added value a brand name gives to a product beyond the functional benefits provided. |
| multiproduct branding | A branding strategy in which a company uses one name for all its products in a product class. |
| multibranding | A branding strategy that involves giving each product a distinct name. |
| seven Ps of service marketing | Expanding the four Ps framework to include people, physical environment, and process. |
| off-peak pricing | Charging different prices during different times of the days of the week to reflect variations in demand for services. |
| capacity management | Integrating the service component of the marketing mix with efforts to influence consumer demand. |
Created by:
mariwalsh
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