Brand a name term symbol or any other unique element

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Brand – a name, term, symbol, or any other unique element of a product that identifies one firm’s products and sets it apart from the competition Trademark – the legal term for a brand name, brand mark, or trade character; trademarks are legally registered and have government protection Brand Equity – the value of a brand to an organization Brand Extensions – new product sold with the same brand name as a strong existing brand Family brand – brand that a group of individual products or individual brands share National/ Manufacturing brands – brands that are owned by the manufacturer of the product Private-label brands – brands that are owned and sold by a certain retailer or distributor Generic branding – strategy in which products are not branded and are sold at the lowest price possible Licensing – agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time Cobranding – agreement between two brands to work together in marketing a new product Ingredient branding – a form of cobranding in which branded material are used as ingredients or component parts of other branded products Brand manager – individual who is responsible for developing and implementing the marketing plan for a single brand
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Product category managers – individuals who are responsible for developing and implementing the marketing plan for all the brands and products within a product category Market manager – individual who is responsible for developing and implementing the marketing plans for products sold to a particular customer Product adoption – process by which a consumer or business customer begins to buy and use a new good, service, or idea Diffusion – process by which the use of a product spreads throughout a population Tipping point – point where a products sales spike from a slow climb to a unprecedented new level, often accompanied by a steep price decline Media blitz – massive advertising campaign that occurs over a relatively short time frame Impulse purchase – purchase made without any planning or search effort Relative advantage – degree to which a consumer perceives that a new product provides superior benefits Compatibility – extent to which a new product is consistent with existing cultural values, customs, and practices Complexity – degree to which consumers find a new product or its use difficult to understand Triability – ease of sampling a new product and its benefits
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