MKtg quiz 12

0.0(0)
studied byStudied by 0 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/15

flashcard set

Earn XP

Description and Tags

Marketing

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

16 Terms

1
New cards

Branded vs. Generic Brands

Generics were popular in the 70s and 80s for their low price but have since been replaced by store (private label) brands.

2
New cards

Advantages of Branding

Ability to charge a premium price and control aspects of product marketing.

3
New cards

Manufacturers Brand

A brand owned by the producer, examples include Apple and Nike.

4
New cards

Store Brand

Also known as private label brands, examples include Trader Joe’s and Kirkland.

5
New cards

Economies of Scale

Cost advantages gained by producing more units, benefiting store/private label brands.

6
New cards

Individual Branding

A branding strategy where each product has its own brand name, like Proctor and Gamble's various brands.

7
New cards

Blanket Branding

Also known as umbrella branding, it involves using a single brand name for multiple products (e.g., Virgin Group).

8
New cards

Line Extension

Extending the current product line with a modified product under the existing brand, like Coke and Coke Zero.

9
New cards

Brand Extension

Introducing a new product category under an existing brand, e.g., Dove soap branching into Dove deodorant.

10
New cards

Multiple Branding

Selling multiple brands within one product category, allowing targeting of diverse market segments.

11
New cards

Selecting a Good Brand Name

A good brand name should be easy, distinctive, and capable of global registration.

12
New cards

Product Life Cycle (PLC)

Stages a product goes through: development, introduction, growth, maturity, and decline.

13
New cards

Introduction Stage

The product is launched with low sales and high investment costs, often resulting in negative profits.

14
New cards

Growth Stage

Sales grow quickly, competition enters, new features are added, and profits begin to increase.

15
New cards

Maturity Stage

Sales stabilize, market saturation occurs, and companies may offer discounts to maintain customers.

16
New cards

Decline Stage

Sales and profits decline, leading to reduced support and the possibility of maintaining, harvesting, or divesting the product.