A tangible physical entity

An intangible result of the application of human and mechanical efforts to people or objects

A concept, philosophy, image, or issue

Products purchased to satisfy personal and family needs

Products bought to use in a firm’s operations, to resell, or to make other products

Relatively inexpensive products that are purchased frequently and that require a minimum amount of effort on the part of the consumer to select and purchase them

Items customers don’t buy often and that they need to think carefully about before purchasing

Items, with unique characteristics, that buyers are willing to expend considerable effort to obtain

Products that consumers are either unaware of or are not interested in actively considering before purchase

Facilities and nonportable major equipment

Equipment that does not become part of the final physical product but is used in production or office activities

Basic natural materials that become part of a physical product

Items that become part of the physical product and are either finished items ready for assembly or items that need little processing before assembly

Materials that are used directly in the production of other products but are not readily identifiable

Maintenance, repair, and operating items that facilitate production and operations but do not become part of the finished product

Intangible products that many organizations use in their operations

A specific version of a product that can be designated as a distinct offering among a firm’s products

A group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations

The total number of product lines offered by a company

The number of product lines a company offers

The average number of different products offered in each product line

The progression of a product through four stages: introduction, growth, maturity, and decline

The first stage of the product life cycle, in which the product is initially released into the market and when sales start at zero and profits are negative

The product life-cycle stage during which sales rise rapidly, profits reach a peak, and then profits start to decline

The stage of a product’s life cycle during which the sales curve peaks and starts to level off or decline, and profits continue to fall

The stage of a product’s life cycle during which sales fall rapidly due to the reduction in the original needs and wants or because of the introduction of another product innovation

The five-stage process of buyer acceptance of a product: awareness, interest, evaluation, trial, and adoption

First adopters of new products

People who adopt new products early, choose new products carefully, and are viewed as “the people to check with” by later adopters

Individuals who adopt a new product just prior to the average person

Skeptics who adopt new products when they feel it is necessary

The last product adopters, who distrust new products

A name, term, design, symbol, or other feature that identifies one seller’s product as distinct from those of other sellers

The part of a brand that can be spoken, including letters, words, and numbers

The part of a brand that is not made up of words, such as a symbol or design

A legal designation of exclusive use of a brand

A legal designation of exclusive use of a brand

The value of a brand, as determined by the consumer’s perception of its quality and appeal

A customer’s favorable attitude toward a specific brand

The degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if their preferred brand is unavailable

The degree of brand loyalty in which a customer prefers one brand over competitive offerings

The degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute

Brands owned by the manufacturer rather than the reseller

Brands owned by a reseller

Brands indicating only the product category

A marketing approach in which every product or service provided by a company is promoted and sold using its own distinct brand name and identity

A strategy where a company markets and promotes its wide range of products or services with a single, unified brand name and identity

An organization uses one of its existing brands to brand a new product in a different product category

A strategy that involves two or more brands collaborating to create a joint product, service, or marketing campaign that leverages the strengths and equity of each brand

An agreement whereby a company permits another organization to use its brand on other products for a licensing fee

Using similar packaging for all of a firm’s products or packaging that has one common design element

Providing identifying, promotional, or other information on package labels