MKTG 373 Study Guide - Midterm Guide: Brand Equity, Lanham Act, Customer Service
Document Summary
Companies sell the satisfaction, use, or benefit the customer wants; focus on the experience. Can be a physical good or a service or a blend of both. Services are perishable; they can"t be produced and then stored to sell at. Quality: a product"s ability to satisfy a customer"s needs or requirements. higher-quality product if the features aren"t what the target market wants. Relative quality in comparison to other brands; better features does not mean some future time. Length of product line: variety of assortment of products. Product assortment: the set of all product lines and individual products that a firm sells. Product line: a set of individual products that are closely related. Individual product: a particular product within a product line. Branding: the use of a name, term, symbol, or design (or combination) to identify a product. Brand name: a word, letter, or group of words or letters.
