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Marketing
Chapter 6
| Term | Definition |
|---|---|
| Product mix | A product's final form and assorted features |
| Product extensions | Items offered in addition to the product to make it more attractive to the target market |
| Products enhancements | Features added to the basic product that satisfy additional needs and wants |
| Product line | A group of similar products with slight variations to satisfy the different needs of consumers |
| Brand | The name, symbol, logo,word, or design that identifies a product, service, or company |
| Trademark | The legal protection of words and symbols used by a company |
| Licensed Brand | A well-known name and/or symbol established by one company and sold for use by another company to promote its products |
| Blue-chip athletes | High-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field |
| NCAA | A voluntary organization through which the nation's colleges and universities govern their athletics program |
| Fringe benefits | Incentives received in addition to a base salary |
| Product life cycle | The introduction, growth, maturity, and decline stages of a product |
| Skimming price strategy | Introducing a new product at a very high price, emphasizing and uniqueness of the product |
| Penetration price strategy | Using low pricing to help capture a large market share |
| Positioning | A strategy used by a company to differentiate its products or services from its competitors' products or services |
Created by:
amanda859
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