Product Complexity:

-Actual product.
-Brand name .
-Quality level.
-Packaging
-Features/Design

What are the four types of consumer products?

1- Specialty.
2-Shopping.
3-Convenience.
4-Unsought.

product mix:
The complete set of all products and services offered by a firm is
called its product mix.

product lines:
The product mix typically consists of various product lines, which
are groups of associated items that consumers tend to use
together or think of as part of a group of similar products or
services.

Breadth:
Number of product lines in a product mix.
- May be too costly to maintain.
Depth:
Number of categories within a product line.
- May cannibalize brands.

Branding
Increases awareness and provides a way to differentiate from
competitors.
What Makes a Brand?
-Brand name
-URLs
-Logos and symbols
-Characters
-Slogans
-Jingles/sounds

Value of Branding for the Customer and the Firm:

-Facilitate purchases.
-Establish loyalty.
-Protect from competitionand price competition.
-Are assets.
Affect market value.

Brand Equity :
the set of assets and liabilities linked to
a brand that add to or subtract from the value provided by the
product or service.

Brand awareness:
measures how many consumers in a market are familiar with
the brand and what it stands for and have an opinion about it

The perceived value:

of a brand is the relationship between a product’s or service’s benefits
and its cost.

Brand associations:
reflect the mental and emotional links that consumers make between a
brand and its key product attributes, such as a logo and its
color, slogan, or famous personality.

Brand Loyalty:
occurs when a consumer buys the same brand’s product or service
repeatedly over time rather than buying from multiple suppliers within
the same category.
family brand :
When all products are sold under one family brand ,the individual -
brands benefit from the overall brand awareness associated with the
family name

individual brand :
A firm can use individual brand names for each of its products.
Brand extension: Same brand name in different product line.
Line Extension: Same brand name within the same product line.
Co-branding:
is the practice of marketing two or more brands together on the same
package promotion, or store.

Brand Licensing:
is a contractual arrangement between firms whereby one firm allows
another to use its brand name, logo, symbols, and/or characters in
exchange for a negotiated fee.

Brand repositioning, or rebranding:

, refers to a strategy in which marketers change a brand’s focus
to target new markets or realign the brand’s core emphasis with changing
market preferences.

The primary package: is the one the consumer

uses, such as the toothpaste tube.

The secondary package: is the wrapper or exterior carton that contains the
primary package and provides the UPC label used by retail scanners