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Marketing

Development and Planning

QuestionAnswer
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. A brand extension is usually aimed at another segment of the general market for the overall brand
Brand Mark The brand mark is that part of a brand name that cannot be spoken. It most commonly is a symbol, picture, design, distinctive lettering, color, or a combinationof these. 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. This may be done by allocating funds and marketing effort according to the profit potential of each brand
Descriptive Label The use of descriptive information (e.g., size, ingredients, or use) on labels. This contrasts with grade labeling, in which code letters or numbers are used to describe the relative quality of goods
Generic Brands product that is named only by its generic class (e.g., drip-grind coffee, barber shop). Often thought to be unbranded. This approach is usually associated with food & other packaged good
Grade Label A system of identification that describes products by their quality, using agreed-on numbers or letters. The grade classes (standards) and the requirements for each are usually assigned by a government or trade group
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. The single price for the "bundle" is usually less than the sum of the individual prices
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. The package may vary from a plastic band wrap to a steel or wooden box
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 four stages: (1) introduction-the slow sales growth that follows the introduction of a new product; (2) growth-the rapid sales (3) maturity-the plateauing of sales growth and (4) decline-the decline of sales that results as (by a substitute)
Product Line A group of products marketed by an organization to one general market. The products have some characteristics, customers, and/or uses in common, and may also share technologies, distribution channels, prices, services, etc
Product Mix The full set of products offered for sale by an organization. The product mix includes all product lines and categories
Product Modification The altering of a current product so as to make it more appealing to the market place. Product Planning- making decisions about what features should be used in selling a business's products, services, or ideas
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 the brand name and brand mark. A trademark identifies one seller's product and thus differentiates it from products of other sellers
Created by: jvera6693