Marketing 11th Edition Kerin, Hartley, & Rudelius–Chapter 11

Brand Equity
The added value a brand name gives to a product beyond the functional benefits provided.
Brand licensing
A contractual agreement whereby one company (licensor) allows its brand name(s) or trademark(s) to be used with products or services offered by another company (licensee) for a royalty or fee.
Brand Name
Any word, device (design, sound, shape, or color), or combination of these used to distinguish a seller’s goods or services.
Brand Personality
A set of human characteristics associated with a brand name.
Using a name, phrase, design, symbols, or combination of these to identify and organization’s products and distinguish them from those of competitors.
Integral part of the package. Typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients.
Market Modification
Strategies a company uses to try to find new customers, increase a product’s use among existing customers, or create new use situations.
Mixed Branding
A firm markets products under its own name(s) and that of a re-seller because the segment attracted to the re-seller is different from its own market.
Giving each product a distinct name.
Multi-Product Branding
a com-pany uses one name for all its products in a product class
Component of a product that refers to any container in which it is offered for sale and on which label information is conveyed.
Private branding
often called private labeling or re-seller branding. Manufacturing products but selling them under the brand name of a wholesaler or retailer.
Product Class
Refers to the entire product category or industry. (Such as prerecorded music.)
Product Form
Pertains to variations within the product class.
Product Life Cycle (PLC)
Describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline.
Product Modification
Involves altering one or more of a product’s characteristics, such as its quality, performance, or appearance, to increase the product’s value to customers and increase sales.
Trade Name
A commercial, legal name under which a company does business.
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
Involves reducing the number of features, quality, or price.
Trading Up
Involves adding value to the product (or line) through additional features or higher-quality materials.
Statement indicating the liability of the manufacturer for product deficiencies.

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