Chapter 11 BA370

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San Diego State University *

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370

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Marketing

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Jan 9, 2024

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Chapter 11 What are the components of a product, how does each component add to consumer value? The components of product are the brand name, quality level, packaging, and features and design . What is the difference between the product and augmented product? Product (defined, mix, line) Product : anything that is of value to a consumer and can be offered through a voluntary marketing exchange. How do the four criteria, brand awareness, brand loyalty, brand associations, and perceived value contribute to brand equity; what promotional methods may be used to influence these criteria? Describe the relationship between intermediaries (retailers) and brands. Do intermediaries have their own brands? ● Brand awareness: measures how many consumers in a market are familiar with the brand and what it stands for ● Perceived value: the relationship between a product’s or service’s benefits and costs ● Brand associations: the mental links that consumers make between a brand and its key product attributes; logo, slogan, or famous personality ● Brand loyalty: when a customer buys the same brands product or service repeatedly over time rather than buying from multiple suppliers within the same category What is meant by brand extension? The use of the same brand name for new products being introduced to the same or new markets. Ex: colgate and crest What is the difference between product line depth and product mix breadth? Product line depth: The number of categories within a product line. Product mix breadth: Number of product lines offered by a firm; also known as variety. What is brand repositioning or re-branding? Describe the purpose. A strategy in which marketers change a brand’s focus to target new markets or realign the brands core emphasis with changing market preferences
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