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Definitions for various marketing terms related to product offerings, packaging, branding, and pricing. Topics include product terms such as value, total product offer, product line, product mix, and product differentiation. Packaging terms cover functions and branding. Brand terms include definition, trademark, manufacturer brands, dealer brands, generic goods, knockoff brands, brand equity, brand loyalty, brand association, brand manager, and pricing objectives. Pricing terms include cost-based pricing, demand-based pricing, competition-based pricing, break-even analysis, total fixed costs, variable costs, skimming price strategy, penetration price strategy, everyday low pricing, and high-low pricing.
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Good quality at a fair price TERM 2
DEFINITION 2 Everything consumers evaluate when deciding whether to buy something TERM 3
DEFINITION 3 A group of products that are physically similar or intended for a similar market TERM 4
DEFINITION 4 The combination of all product lines offered by a manufacturer or service provider TERM 5
DEFINITION 5 The creation of real or perceived product differences
Products consumers purchase frequently with minimal effort TERM 7
DEFINITION 7 Products consumers buy only after comparing value, quality, price, and styles TERM 8
DEFINITION 8 Products with unique characteristics and brand identity- accept no substitutes! TERM 9
DEFINITION 9 Products consumers arent aware of or havent thought of buying until they need them TERM 10
DEFINITION 10 Products used in the production of other products and sold in the B2B market
Non-branded products that sell at a discount compared to manufacturers or dealers brands TERM 17
DEFINITION 17 Illegal copies of national brands TERM 18
DEFINITION 18 The combination of factors (awareness, loyalty, perceived quality, images, and emotions) that people associate with a brand name TERM 19
DEFINITION 19 The degree to which consumers are satisfied and are committed to further purchases TERM 20
DEFINITION 20 Linking a brand to other favorable images, like celebrities or a geographic area
Person responsible for a particular brand and handles all the elements of the brands marketing mix TERM 22
DEFINITION 22 Achieving a target return on investment or profit Building traffic (loss leaders- not to be confused with bait and switch) Achieving greater market share Creating an image Furthering social objectives both short-run and long-run TERM 23
DEFINITION 23 measures cost of producing a product including materials, labor, and overhead (adding an acceptable profit margin) TERM 24
DEFINITION 24 Making the final price of a product an input in the product development process by estimating the selling price consumers will pay TERM 25
DEFINITION 25 A strategy based on what the competition is charging for its products
Setting prices lower than competitors with no special sales TERM 32
DEFINITION 32 Using regular prices that are higher than EDLP except during special sales when they are lower TERM 33
DEFINITION 33 Pricing products at price points that make a product seem less expensive than it is
