Types Of Consumer Products
These products are bought frequently, immediately, and with minimal buying effort.
Convenience Product
Name two types of product attribute.
Product Quality / Features / Style & Design / Brand
In the mind of the consumer
_________ is a group of products that are closely related because they function in a similar manner and are sold to the same customer groups
Product Line
These products require comparison shopping, because it is usually more expensive and found in fewer stores.
Shopping
Provide an example of a product 'functional' differentiator.
best tasting, etc.
Branding is ___________
The name, term, sign, or design or a combination of these, that identifies the maker or seller of a product or service.
_________ is a portfolio of products with different brands or names, all owned and managed by the same company.
Multi Brands
This type of product typically has a lower price.
Convenience products
Provide an example of a product 'emotional' differentiator.
prestige, etc.
Brand equity is ___________
The commercial ($) value that derives from consumer perception of the brand name rather than from the product or service itself.
_________consists of all the products/items sold by a brand with different product functions (categories) and all marketed under the same brand name.
Product Mix
This type of product typically has strong consumer brand preference.
Shopping products
The definition of a Product includes physical products as well as ________
Services
Desirable Brand Name qualities include ______
1.Suggest benefits and qualities
2.Easy to pronounce, recognize, remember
3.Distinctive
4.Extendable
5.Translatable for the global economy
6.Able to be registered & legally protected
What is one of the benefits of a Product Mix?
•Grow Sales
•Increase The Customer Base
•Leverage Equity Of Brand Loyalists
•Marketing Promotion Efficiency e.g. Lower advertising costs
This type of product has limited product awareness.
Unsought products
Product Value includes which two components?
The Actual product and the Augmented product.
What is the Apple Brand Name Is Worth?
$482 Billion
Target market
Brand name
Category
Differentiator
Consumer Benefit
Reason To Believe