Branding & Brand Personality
A company uses one name for all of its products.
What is Multiproduct Branding
What are three benefits to packaging and labelling
What is Communication Benefits, Functional Benefits, Perceptual Benefits
When considering the People portion of the 7 P's of services, who are the most important people to market to?
What is internal marketing (people in your own company).
A pricing strategy where prices are first set a high initial price and lower it later
What is Price Skimming
In this stage, the marketing objective is to gain awareness, there is few competition, utilizes price skimming or penetration strategies, and the promotion focuses on information and education
What is the introduction stage
Most successful logos are this shape
What is a circle
Tide Pods have difficult openings because there was a craze where people thought they had to eat them. This is an example of which challenge to packaging?
What is health and safety
What are the 7Ps of Service Marketing?
What is Product (Service), Price, Place (Distribution), Promotion, People, Physical Evidence, Process
When two or more products are in a single “package” price
This stage includes dropping a product from a product line because it is unsuccessful.
What is deletion (would also accept decline/decision point)
When a company manufactures product but sells them under the brand name of a wholesaler or retailer. Ex. Loblaw’s – President’s choice.
What is Private Branding
The colour red became very trendy this year and Ms. Philip changed her calculator packaging to red. Her calculator increased in sales. This is an example of which challenge to packaging:
What is connection with customers
This aspect of SERVQUAL is the appearance of physical facilities, equipment, personnel, and communications materials.
What is tangiables
Costs that will go up or down depending on the amount of products that are produced
What is a variable cost.
This non-traditional cycle features a product which is extremely popular for a very brief period of time, and loses popularity just as quickly.
What is a fad
"I'm lovin' it" is an example of:
What is a slogan
What are the three functional benefits to packaging?
What is storage, convenience, and protection
What is inconsistency
Drake and Kendrick price their new collaborative album on Spotify at $6.67 instead of $7.00
What is Odd-Even Pricing
This stage focuses on differentiation, there are more versions of the product added, features aggressive pricing to remain competitive, and promotes the differences between the product and its competition.
What is the growth stage.
When two or more independent brands come together on a single product or service like Oreo and McDonald's McFlurry
What is Co Branding
Logan Paul decides to change his traditional Prime Bottles to recycled plastic. This is an example of which challenge to packaging?
What is environmental concerns
This part of SERVQUAL is abut knowing their costumers and understanding their needs. It looks at the approachability and availability of the service.
What is empathy
Setting a high price to attract quality or status conscious consumers ex. Swiss watches, Rolls Royce
What is Prestige Pricing
This stage is characterized by the slowing of total industry sales, and the marketing objective is to maintain brand loyalty.
What is the maturity stage