Chapter 9: Product, Branding, and Packaging Decisions

These flashcards cover key concepts and definitions related to product, branding, and packaging decisions from the lecture notes.

Value Creation

The process of generating worth or value through marketing strategies that increase perceived value by consumers.

Product Mix

The complete set of all products offered by a firm.

Product Line Depth

The number of products within a specific product line.

Brand Equity

The value derived from consumer perception and experience with a brand.

Brand Awareness

Measures how many consumers are familiar with a brand and its characteristics.

Convenience Product

A type of consumer product that is purchased frequently and with minimal effort.

Unsought Product

A product that the consumer does not actively seek; often requires aggressive marketing.

Brand Extension

Using an established brand name for a new product in a different category.

Cobranding

A marketing strategy that combines two or more brand names on a product or promotion.

Packaging

The act of designing and producing the container or wrapper for a product, used to attract consumers.

Labeling

The practice of attaching information on the packaging of a product to inform consumers about its characteristics.

Core Product

The fundamental benefit or value that the product provides to the consumer.

Product Warranty

A guarantee provided by the manufacturer or seller ensuring the product's condition or performance.

Mental Links

Consumers' associative connections between a brand and its key attributes.

Visual Branding Elements

Logos and symbols that represent corporate names or trademarks.

Manufacturer Brand

A brand owned by the manufacturer of the product.

Private-Label Brand

Brands owned and marketed by a retailer.

Family Brand

A brand that uses a common name for multiple products within a category.

Product Category

An assortment of items that customers view as substitutes for one another.

Brand Loyalty

The tendency of consumers to continue buying the same brand due to positive experiences.

Brand Dilution

A reduction in brand value resulting from negative associations or poor product extensions.

Quality Perception

Consumers' views of the overall quality or performance of a brand or its products.

Slogan

A catchy phrase used for brand promotion that encapsulates the brand’s message.

Associative Network

A web of associations that consumers make between a brand and its attributes.

Packaging Benefits

Physical advantages that packaging provides, such as attracting attention and offering promotional tools.

Consumer Perception

The process by which consumers interpret information about a brand based on their experiences and beliefs.