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| The needs satisfying offering from a firm |
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| a product's ability to satisfy a customer's needs or requirements. |
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| set of all product lines and individual products that a firm sells. |
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| a set of individual products that are closely related. |
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| A particular product within a product line. usually differentiated by brand, level of service offered, price or some other characteristic. |
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| the use of a name, term, symbol or design --or combination of these- to identify product. |
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| is a word, letter or a group of works or letter. examples: American Online (AOL, WD-40... |
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| includes only those words, symbols or marks that are legally registered for use by a single company. |
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| same as a trademark except that is refers to a service offering. |
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| how well customers recognize and accept a company's brand. |
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| potential customers won't buy it unless its image is changed. |
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| products that are seen as basically the same and consumers are not aware of the product's name given by the firm. |
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| customers remember the product's name given by the firm. |
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| target customer usually choose the brand over others. perhaps because of habit or favorable past experiences. |
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| customers want only that brand and are willing to search for it. |
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| the value of a brand's overall strength in the market. |
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| spells out what kinds of marks can be protected and the exact method of protecting them. |
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| same brand name for several products of similar types. Kenmore kitchen appliances. |
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Definition
| a well-know brand that sellers pay a fee to use. selling to tee-shirt companies the use of GGC for shirts. |
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| separate names for each product so they each have a separate identity as when products vary in quality or type. |
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| products with no specific name given by the firm. |
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| Created by the producers and is sometimes called national brands because they are promoted all across the country or in large regions. |
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| Dealer brands or private brands |
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Definition
| created by intermediaries. products labeled with the retailer's name. |
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Definition
| competition between dealer and manufacturer brands. |
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| involves promoting, protecting, and enhancing the product. |
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Term
| Universal Product code UPC |
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Definition
| identifies each product with marks readable by electronic scanners and can match the product up with other important info like price. |
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| Federal fair packaging and labeling act |
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Definition
| requires that consumer goods be clearly labeled in easy-to-understand terms to give consumers more information. |
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| explains what the seller promises about its product. |
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| producers must provide a clearly written warranty if the choose to offer any warranty. |
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| products meant for the final customer. |
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| products meant for use in producing other products. |
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| products a consumer needs but isn't willing to go out of their way for them. |
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| products that are bought often, routinely and without much thought. |
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Definition
| bought quickly as unplanned purchases because of a strongly felt need. bought on sight. if the buyer doesn't see the ___________ _________ at the right time the sale may be lost. |
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Definition
| purchased immediately when the need is great. No time to shop around so price is irrelevant. |
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| customer feels are worth the time and effort to compare with competing products. divided into two types homogeneous and heterogeneous. |
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| Homogeneous shopping products |
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Definition
| customer sees as basically the same and wants the lowest price. |
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| Heterogeneous shopping products |
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Definition
| customer sees as different ans wants to inspect for quality ans suitability. |
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Definition
| customer really wants and makes a special effort to find. not comparing but actually willing to go looking for the exact item wanted. |
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| products the potential customers don't yet want or know they can buy. |
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| products offering is really a new idea and potential customer don't know about it yet. |
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| Regularly unsought products |
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Definition
| products that remain unsought but not unbought forever like a gravestone. |
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| a difference between consumer product markets and business product markets. if the producer's product is not wanted by consumers the producer buys less materials from the business product markets. |
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| a product whose total cost is treated as a business expense in the it's purchased |
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| long-lasting product that can be used and depreciated for many years. |
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Definition
| buildings, land rights, and major equipment. important capitol items. |
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| short-lived capital items --tools and equipment used in production or office activities like a copy machine. |
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| unprocessed expense items used in the production of a physical good. |
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| farm products and natural products |
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| Two types of raw material products. |
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| processed expense items that become part of a finished product. finished or nearly finished items that are ready for assembly into the final product. |
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| expense items that do not become part of the finished product. Maintenance, repair and operating supplies. |
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| specialized services that support a firm's operations. |
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