inexpensive items that merit little shopping effort such as candy deodorant dry cleaning and
hardware - ANS-convenience products
requires comparison shopping. these products are more expensive, found in fewer stores.
examples are washers dryers and furniture - ANS-shopping products
Particular items for which consumers search extensively and are reluctant to accept substitutes.
examples are fine watches and expensive cars - ANS-specialty products
products unknown to the potential buyer or known products that the buyer does not atively seek
such as insurance or encyclopedias - ANS-unsought products
consumer products and business products - ANS-what are the types of products
a product used to manufacture goods or services to facilitate an organizations operations or to
resell to other coonsumers - ANS-business products are
a product bought to satisfy an individuals personal wants - ANS-consumer products
yes examples of these are sams club and home depot - ANS-can many companies be classified
as both business and consumer products
specific versions of a product that can be designated as a distinct offering among an
organizations products - ANS-product items
groups of closely related product items - ANS-product lines
advertising economics, package uniformity(may have common look but maintain individuality),
standardized components, efficient sales and distribution, equivalent quality - ANS-benefits of
product lines
, all products that an organization sells. Product mix width and product mix depth - ANS-product
mixes
the product lines an organization offers - ANS-Product mix width
number an organization offers - ANS-product mix depth
changing in one or more characteristic of a product. includes modifications in quality, function,
and style. Planned obsolescence: practice of modifying products so those that have already -
ANS-Product modification
factors that motivate a firm to reposition an established brand. this includes changing
demographics, declining sales, and changes in social environment - ANS-repositioning
adding additional products to an existing product line. product lines can be overextended when
products don't contribute to profits, manufacturing or marketing resources are disproportionately
allocated, or items in a line are obsolete - ANS-product line extension
the benefits are resources become concentrated on the most important products, managers do
not waste resources trying to improve the sales and profits of poorly performing products, and
new product items have a chance of being successful owning to available of financial and
Human Resources - ANS-product line contraction
name, term, symbol, or design or combination that identifies a sellers products and differentiates
them from competitors products - ANS-What is a brand
part of a brand that can be spoken including letters, words, and numbers - ANS-brand name
elements of a brand that cannot be spoken - ANS-brand mark
benefits when a product line contraction occurs - ANS-benefits of branding
value of a company or brand name - ANS-brand equity
brand that obtains at least one third of its earnings from outside its home country - ANS-global
brand
consistant preference for one brand over all others - ANS-brand loyalty
individual brands is using different brand names for different products. family brands is
marketing several differernt products under the same brand name - ANS-difference between
individual versus family brands
placing two or more brand names on a product or its package - ANS-what is co-branding
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller topgradesdr. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.