Chapter 10 Products, Services and Brands Flashcard

Front

What is one of the major dimensions of product quality?

Back

Consistency in quality

Front

What is the primary function of packaging for a product?

Back

Conveying brand identity

Front

Which strategy involves extending a product line either downward to attract entry-level buyers or upward to add prestige and achieve higher margins?

Back

Line stretching

Front

What is brand equity?

Back

The brand’s ability to capture consumer preference and loyalty.

Front

Which of the following is NOT a factor to consider when selecting an ideal brand name? Suggesting product benefits. Being easy to pronounce and remember. Being legally protectable. Being in a foreign language.

Back

Being in a foreign language.

Front

What is the main advantage of store brands (private labels) for retailers?

Back

Lower pricing compared to national brands, Higher profit margins for retailers, Exclusive products that drive store traffic and loyalty.