brand equity
the added value a brand name gives to a product beyond the functional benefits provided
brand licensing
is contractual agreement whereby one company (licensor) allows its brand name (s) or trademark (s) to be used with product or services offered by another company (licensee) for a royalty fee
brand name
a word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors.
brand personality
a set of human characteristics associated with a brand name
branding
a marketing decision in which an organization uses a name phrase design symbols or combination of these to identify its product and distinguish them from those of competitors
label
a part of the package that typically identifies the product or brand who made it
market modification
a strategy in which a company tries to find new customers, increase a product's use among existing customers or create new use situations.
mixed branding
where a firm markets products under its own name and that of a reseller because the segment attracted to the reseller is different from its own market
mutibranding
i branding strategy that involves giving each product a distinct name when each brand is intended for a different market segment
multiproduct branding
a company uses one name for all its products in a product class
packaging
a part of a product that refers to any container in which it is offered for sale and on which label info is displayed
private branding
when a company manufactors products but sels them under the brand name of a wholesaler or retailer
product class
consits of the entire product category or industry
product form
pertains to variations within the product class
product life cycle
Four stages that product goes through over its life: introduction, growth, maturity, and decline.
product modification
altering a products characteristic, such as quality, performance, or appearance, to increase the products value to customers and to increase sales
trade name
a commercial, legal name under which a company does business
trademark
identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it
trading down
reducing the number of features, quality or price
trading up
adding value to a product through additional features or higher quality materials
warranty
a statement indicating the liability of the manufacturer for product deficiencies