Exam 6: Proposition and Branding Decisions

Durable goods are bought infrequently, used repeatedly and involve a reasonably high level of consumer risk.

This is a strategic activity which is used to differentiate and distinguish a brand, so that a consumer understands the brand, not just remembers it. This activity is referred to as:

The augmented product consists of the embodied product plus all those other factors that are necessary to support the purchase and any post-purchase activities.

In order to understand different elements and benefits we refer to three different product levels. This level consists of the physical good or delivered service that provides the expected benefit.

A measure of the value and strength of a brand; it is an assessment of a brand's wealth. This is referred to as:

A ______________ is a relational asset whose value to the firm is contingent on past, present, and future interactions with various firm stakeholders.

In this stage of the innovation decision process of adoption, consumers become aware of the new product. They have little information and have yet to develop any particular attitudes towards the product.

All the products use the organization's name, either entirely or in part. This is referred to as:

The success rate of new products is consistently poor. No more than one in 10 new products succeeds. The reasons for this high failure rate include:

These products are bought to satisfy personal and family needs and can be classified as durable or nondurable.

Which is not an example of non-durable goods?

These products are not bought frequently and, as a result, consumers do not always have sufficient up-to-date information to make a buying decision. These products are referred to as:

Non-durable goods reflect a purchaser's high level of involvement in the purchase decision. There is high perceived risk in these decisions so consumers spend a great deal of time, care, and energy searching, formulating, and making the final decision.

Brands can be considered in terms of the markets they operate in, sometimes referred to as:

This branding policy was once referred to as a multibrand policy; it requires that each product offered by an organization is branded independently of all the others.

Brand equity provides a form of identity for consumers that express symbolic meaning for themselves and for others.

Customer branding can be seen when a customer attaches a name, term or other feature that enables them to identify one seller's good or service as distinct from those of other sellers.