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actual product
The physical attributes of a product including the brand name, packaging, etc
associated services (augmented product)
The nonphysical attributes of the product including product warranties, financing, product support, etc
brand association
Mental links that consumers make between a brand and its key product attributes (logo, slogan)
brand awareness
Measures how many consumers in a market are familiar with the brand and what it stands for; through repeated exposures of the brand elements
brand dilution
When a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold
brand equity
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product
brand extension
The use of the same brand name for new products being introduced to the same or new markets
brand licensing
Contractual arrangements between firms, whereby one firm allows another to use its brand name, logo or symbols
brand loyalty
When a consumer buys the same brand’s product repeatedly over time rather than buying from multiple suppliers within the same category
brand repositioning (rebranding)
strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences
breadth (brand variety)
Number of product lines offered by a firm
cannibalize
The negative impact on a firm’s sales or market share when one product competes closely with a similar product offered by the same company
co-branding
Practice of marketing two or more brands together, on the same package or promotion
consumer product
Products used by people for their personal use
convenience products
Products for which the consumer is not willing to spend any effort to evaluate prior to purchase
core customer value
The basic problem-solving benefits that consumers are seeking
depth
The number of categories within a product line
family brand
Firm’s own corporate name used to brand its product lines and product
individual brands
The use of individual brand names for each of a firm’s product
line extension
Use of the same brand name within the same product line; represents an increase in a product line’s depth
manufacturer brands (national brands)
Brands owned and managed by the manufacturers
perceived value
The relationship between a product benefits and its cost
predictive analytics
The use of stats on data to determine patterns and predict future outcomes and trends
primary package
Packaging the consumer uses, such as the toothpaste tube, from which he seeks convenience in terms of use and storage
private-label brands (store brand)
Brand developed and marketed by a retailer and available only from that retailer
product line
Group of associated items, such as those that consumers use together
product mix
The complete set of all products offered by a firm
secondary package
exterior carton that contains the primary package and provides the UPC label used by retail scanners
shopping products
Products for which consumers will spend time comparing alternatives such as apparel
specialty products
Products toward which the customer show a strong preference and for which he will expend considerable effort to search for the best suppliers
unsought products
Products consumers either do not normally think of buying or do not know about
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