MKTG Exam 2 Chs 6 to 10

The number of product lines an organization offers

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the number of product lines an organization offers Product Line Depth: the number of product items in a product line Product Modification: changing one or more of a product’s characteristics Planned Obsolescence: the practice of modifying products so those that have already been sold become obsolete before they actually need replacement Product Line Extension: adding additional products to an existing product line in order to compete more broadly in the industry LO 4: Brand: a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitor’s products Brand Name: that part of a brand that can be spoken, including letters, words, and numbers Brand Mark : the elements of a brand that cannot be spoken Brand Equity: the value of a company and brand names Global Brand: a brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data Brand Loyalty: a consistent preference for one brand over all others Manufacturer’s Brand: the brand name of a manufacturer Private Brand: a brand name owned by a wholesaler or retailer Captive Brand: a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer’s affiliation
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Individual Branding: using different brand names for different products Family Branding: marketing several different products under the same brand name Co-Branding: placing two or more brand names on a product or its package Trademark: an exclusive right to use a brand or part of a brand Service Mark: a trademark for a service Generic Product Name: identifies a product by class or type and cannot be trademarked LO 5: Persuasive Labeling: a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary Informational Labeling: a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase Universal Product Codes (UPCs): a series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products LO 7: Warranty: a confirmation of the quality of performance of a good or service Express Warranty: a written guarantee Implied Warranty: an unwritten guarantee that the good or service is fit for the purpose for which it was sold
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