Chapter 11 Marketing

Definition of Product

Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

The Four Different Consumer Products

Specialty, Shopping, Connivence, and Unsought.

Definition of Product Mix

All the firm’s products and services.

Definition of Product Lines

associated items that consumers tend to use together or think of as part of a group of either Breadth or Depth.

Definition of Breadth

The number of product lines.

Definition of Depth

the number of products within a product line.

Brand Equity for the Owner

The set of assets and liabilities linked to the brand that impact its value:

• Brand awareness

• Perceived value

• Brand associations

• Brand loyalty

Definition of Family Brands

Corporate name used across brands and product lines.

Example: Kraft salad dressings, cheese, pasta, condiments.

Definition of Individual Brands

Products have individual identities.

Example: Kraft owns Philadelphia cream cheese, Jell-O, Oscar Mayer, Planters nuts.

Definition of Brand Extension

Same brand name in different product line.

Definition of Line Extension

Same brand name in the same product line.

Definition of Rebranding

Change in brand focus to new target markets.

Align core emphasis with changed market preferences.

Definition of Primary Package

the package used by the consumer.

Definition of Secondary Package

the wrapper or exterior carton containing the primary package.