Product Mix
______ is a product strategy where a business adds more products to its offerings.
expansion
_____ _____ is any activity that creates satisfaction for a customer either before or after a purchase.
customer service
A ______ is the combination of the different elements that identify the product to consumers.
brand
_____ ___ ________ are the path(s) that the product takes to reach the consumer.
channels of distribution
What is love? Baby don't _____ ___
hurt me
_____ _____ are the individual goods, services, or ideas sold.
product items
______ is a product strategy where a business removes products from its offerings.
Daily Double: Explain a scenario where it would be good to use this strategy.
contraction
______ are any intangible activities that are performed by the business for the customers. (think: haircut, car repairs)
services
The ______ ______ is the spoken portion of the brand.
brand name
______ are entities that purchase products in bulk and then resell it to retailers or end users.
wholesalers
I'm a survivor, I'm not gon' give up, I'm not gon' _____
stop
______ ______ are groups of related products.
product line
______ is a strategy where the company makes changes to an existing product or product line.
alteration
_______ services are ones that are set or fixed offerings for customers. They do not or can not change based on customer needs.
standardized
A ______ ______ is a visual symbol used to identify the brand.
_____ are the second to last stop in the distribution channels. They sell directly to the end users.
retailers
Tonight we are young, so let's set the world on _____
fire
_____ is the measure of how many different product lines that a company offers.
width
______ happens when there is competition between two or more products within the same company's product mix. One product outshines the other, takes sales away from the other.
cannibalization
______ services are ones that can be altered or tailored to meet customer needs.
customized
_____ ______ are usually anthropomorphic animals or other characters that are utilized to represent the brand in some capacity. They are the "mascot" of the brand.
trade characters
______ are middlemen or intermediaries that facilitate sales but never take any ownership over a product.
agents
I don't care, ___ _____ __! I don't care...
I love it
______ is a measure of how much variation there is within a product line.
depth
____ ____ is a strategy where a company adds a higher priced or higher quality item to an existing product mix. (Think Toyota and Lexus)
trading up
______ _____ occurs when customers make repeat purchases from the same business because they like it.
customer loyalty.
The last and hardest stage of brand loyalty to achieve. It is when customers will not accept substitutes for the product. (2 words)
brand insistence
direct distribution
Shut up and dance with me,
This woman is my ______
destiny