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Product Planning
Jaryd Craig
| Term | Definition |
|---|---|
| Product mix | All the different products that a company makes or sells. |
| Product line | A group of closely related products manufactured or sold by a business. |
| Product item | A specific model, brand, or size of a product within a product line. |
| Product width | The number of different product lines a business manufactures or sells. |
| Product depth | The number of product items in a product line. |
| Product position | Efforts a business makes to identify, place, and sell its products in the marketplace. |
| Line Extension | Adding new product lines, items or services. |
| Product Modification | An alteration to an existing product |
| Product Bundling | Multiple products or components packaged together into one bundled solution. |
| Price Bundling | when two or more similar products are placed on sale for one package price |
| Brand | Name, design or symbol that identifies the products of a company. |
| Brand Name | Word or group of words that can be spoken. • Ex: Nike, Coca-Cola Classic, Cover Girl, Tylenol |
| Brand Mark | Unique Symbol, design, distinctive coloring, or lettering |
| Trade name | Identifies the company or a division of a particular corporation. |
| Trade Character | A personified brand mark |
| Trademark | word, name, symbol, sound, device, or combination that has been given legal protections by the federal government. |
| Package | Physical container or wrapping for a product. |
| Label | Information tag, wrapper, seal, or imprinted message that is attached to a product or package. |
| Brand Extension | Uses an existing brand name to promote a new and improved product in a company’s product line |
| Brand Licensing | Allows others to use the brand name for a fee |
| Mixed Brands | National manufacturer makes the product for a private label |
| Co-Branding | Combines one or more brands |
| Gap | the difference between what is currently available and what is needed/desired |
| Product Development | The first step is to generate new business ideas that are unique. |
| Product Planning | the decisions made about what features should be used in the selling of business products |
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