Armstrong Marketing Armstrong Marketing
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Glossary
 

Chapter 8:

Below you will find the definitions of the key terms from this chapter. The page on which the term is first defined in the textbook is indicated in brackets. To view the complete glossary for the entire text, click here.

Actual product
A product's parts, quality level, features, design, brand name, packaging, and other attributes that combine to deliver core product benefits.

Augmented product
Additional consumer services and benefits built around the core and actual products. (306)

Brand equity
The value of a brand, based on the extent to which it has high brand loyalty, name awareness, perceived quality, strong brand associations, and other assets such as patents, trademarks, and channel relationships. (315)

Brand extension
Using a successful brand name to launch a new or modified product in a new category. (320)

Brand
A name, term, sign, symbol, design, or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. (314)

Business product
A product bought by individuals and organizations for further processing or for use in conducting a business. (309)

Co-branding
The practice of using the established brand names of two different companies on the same product. (319)

Consumer product
Product bought by final consumer for personal consumption.

Convenience product
A consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

Core product
The problem-solving services or core benefits that consumers are really buying when they purchase a product. (303)

Line extension
Using a successful brand name to introduce additional items in a given product category under the same brand name, such as new flavours, forms, colours, added ingredients, or package sizes. (320)

Packaging
The activities of designing and producing the container or wrapper for a product. (322)

Private brand (or store brand)
A brand created and owned by a reseller of a product or service. (317)

Product line
A group of products that are closely related because they function in a similar manner, are sold to the same consumer groups, are marketed through the same types of outlets, or fall within given price ranges. (327)

Product mix (or product assortment)
The set of all product lines and items that a particular seller offers for sale. (328)

Product quality
The ability of a product to perform its functions; it includes the product's overall durability, reliability, precision, ease of operation and repair, and other valued attributes. (312)

Product support services
Services that augment actual products. (325)

Product
Anything that can be offered to a market for attention, acquisition, use or consumption and that might satisfy a want or a need. (303)

Service-profit chain
The chain that links service firm profits with employee and customer satisfaction. (331)

Service inseparability
A major characteristic of services–they are produced and consumed at the same time and cannot be separated from their providers, whether the providers are people or machines.

Service variability
A major characteristic of services–their quality may vary greatly, depending on who provides them and when, where, and how. (330)

Service intangibility
A major characteristic of services–they cannot be seen, tasted, felt, heard, or smelled before they are bought. (330)

Service perishability
A major characteristic of services–they cannot be stored for later sale or use. (331)

Service
A form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. (303)

Shopping product
A consumer good that the customer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style. (308)

Slotting fees
Payments demanded by retailers before they will accept new products and place them on shelves. (317)

Social marketing
The design, implementation, and control of programs that seek to increase the acceptability of a social idea, cause, or practice among a target group. (311)

Specialty product
A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

Unsought product
A consumer product that the consumer either does not know about or knows about but does not normally think of buying. (309)