COMM 1010 : COMM 1010 - Chapter 15 Vocabulary.docx

• School: Dalhousie University
• Department: Commerce
• Course: COMM 1010
• Professor: Mc Larney

Document Summary

When consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs. Total product offer (value package): everything that consumers evaluate when deciding whether to buy something. Product line: a group of products that are physically similar or are intended for a similar market. Product mix: the combination of product lines offered by a manufacturer. Product differentiation: the creation of real or perceived product differences. Trademark: a brand that has been given exclusive legal protection for both the brand name and the pictorial design. Brand equity: the combination of factors such as awareness, loyalty, perceived quality images, and emotions that people associate with a given brand name. Brand loyalty: the degree to which customers are satisfied, enjoy the brand, and are committed to further purchase. Brand awareness: how quickly or easily a given brand name comes to mind when a product category is mentioned.