ARBUS101 Chapter Notes - Chapter 15: Telemarketing, Sales Promotion, Podcast
5 Nov 2015
School
Department
Course
Professor
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: 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 an organization. Product differentiation: the creation of real or perceived product differences. Brand: a name, symbol, or design (or combination thereof) that identifies the goods or services of one seller or group of sellers and distinguishes them from the goods and services of competitors. Brand equity: the value of the brand name and associated symbols. 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.
