The document discusses key marketing concepts such as products, quality, branding, consumer products, and packaging. It defines products as the need-satisfying offering of a firm. Quality can be absolute, dealing with meeting predefined specifications, or relative, dealing with customer perceptions. Branding aims to identify and differentiate a company's goods and services. Consumer products are divided into four categories based on how customers purchase them: convenience products needing little search effort; shopping products worth comparing; specialty products requiring special effort to find; and unsought products customers are unaware of.

1. CHAPTER 8 DISCUSSION QUESTIONS
1) Read the Under Armour case on pages 190 & 191.
2) The need-satisfying offering of a firm is known as what?
3) Define quality.
4) What is branding?
5) What is the difference between a trademark & a service mark?
6) How well customers recognize & accept a company's brand is known as what?
7) Define each level of brand familiarity.
9) The value of a brand to its current owner or to a firm that wants to buy it is sometimes called
what?
10) What spells out what kind of marks can be protected & the exact method of protecting them?
11) What is the difference between manufacturer brands & dealer brands?
12) Define packaging.
13) How can packing be important to both sellers & customers?
14) What is socially responsible packaging?
15) What are products that a customer feels are worth the time & effort to compare with competing
products?
16) What are consumer products that the customer really wants & makes a special effort to find?
17) What are products that potential customers don't yet want or know they can buy?
18) What are products offering really new ideas that potential customers don't know about yet?
19) What are products that stay unsought but not unbought forever?

2. PRODUCT
“THE NEED-SATISFYING OFFERING OF A FIRM.”
-MOST CUSTOMERS THINK ABOUT A PRODUCT IN TERMS OF THE
TOTAL SATISFACTION IT PROVIDES.

3. GOODS & SERVICES AS PRODUCTS
-A GOOD IS A TANGIBLE ITEM.
-IT IS A PHYSICAL THING THAT CAN BE SEEN & TOUCHED.
-SERVICES ARE INTANGIBLE.
-THEY ARE EXPERIENCED, USED, OR CONSUMED.

4. “A PRODUCT’S ABILITY TO SATISFY A CUSTOMER’S NEEDS OR
REQUIREMENTS.”
QUALITY
-THE DEFINITION FOCUSES ON HOW THE CUSTOMER THINKS A
PRODUCT WILL FIT SOME PURPOSE.

6. ABSOLUTE QUALITY
VS
RELATIVE QUALITY

7. ABSOLUTE QUALITY
-DEALS WITH MAKING SURE THAT A PRODUCT/SERVICE MEETS PREDEFINED
SPECIFICATIONS.
-USED TO IMPROVE THE EFFICIENCY OF A BUSINESS PROCESS.
RELATIVE QUALITY
-DEALS WITH MAKING SURE THAT A PRODUCT/SERVICE IS SUFFICIENTLY
ACCEPTABLE AS PERCEIVED BY A CUSTOMER.
-USED TO IMPROVE THE EFFECTIVENESS OF YOUR BUSINESS.

8. BRANDING
“THE EFFORTS INTENDED TO IDENTIFY THE GOODS & SERVICES OF ONE
SELLER & TO DIFFERENTIATE THEM FROM THOSE OF OTHER SELLERS.”
-IT’S ABOUT GETTING YOUR PROSPECTS TO SEE YOU AS THE ONLY ONE THAT
PROVIDES A SOLUTION TO THEIR PROBLEM.
-A STRONG BRAND IS INVALUABLE AS THE COMPETITION FOR PROSPECTS
INTENSIFIES.
-SIMILAR TO BRANDING ON THE RANCH.
-USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER
COMPANIES (CATTLE).
EFFECTIVE BRANDING WILL:
-DELIVE A CLEAR MESSAGE.
-CONFIRM YOUR CREDIBILITY.
-CONNECT YOUR TARGET PROSPECTS EMOTIONALLY.
-MOTIVATE THE BUYER.

9. BRAND DRIVERS
-SLOGANS, LOGOS, SYMBOLS, MACOTS, CELEBRITY ENDORSEMENTS,
ETC. TO REINFORCE “HUMAN QUALITIES.”

10. BRAND NAME
-A WORD, LETTER, OR GROUP OF WORD OR LETTERS.
TRADEMARK
-ONLY THOSE WORDS, SYMBOLS, OR MARKS THAT ARE LEGALLY REGISTERED
FOR USE BY A SINGLE COMPANY.
SERVICE MARK
-SAME AS TRADEMARK EXCEPT THAT IT REFERS TO A SERVICE OFFERING.

12. THE TOP 10 GLOBAL BRANDS OF 2012
INTERBRAND
A BRAND CONSULTING COMPANY
-RANKS THE 100 MOST VALUABLE BRANDS ON CRITERIA: FINANCIAL
PERFORMANCE, THE ROLE THE BRAND PLAYS IN INFLUENCING THE
CHOICES MADE BY CONSUMERS, & THE BRAND’S ABILITY TO HELP ITS
PARENT’S EARNINGS.

13. 5

14. 4

15. 3

16. 2

17. 1

18. WORLD’S MOST “LIKED” BRANDS

19. 5

20. 4

21. 3

22. 2

23. 1

24. “HOW WELL CUSTOMERS RECOGNIZE & ACCEPT A COMPANY’S BRAND.”
BRAND FAMILIARITY
-LEVELS OF BRAND FAMILIARITY
1) REJECTION
-POTENTIAL CUSTOMERS WON’T BUY A BRAND UNLESS ITS IMAGE IS CHANGED.
2) NONRECOGNITION
-FINAL CONSUMERS DON’T RECOGNIZE A BRAND AT ALL.
3) RECOGNITION
-CUSTOMERS REMEMBER THE BRAND.
4) PREFERENCE
-TARGET CUSTOMERS USUALLY CHOOSE THE BRAND OVER OTHER BRANDS.
5) INSISTENCE
-CUSTOMERS INSIST ON A FIRM’S BRANDED PRODUCT & ARE WILLING TO SEARCH FOR
IT.

25. THE VALUE OF A BRAND TO ITS CURRENT OWNER OR TO A FIRM THAT WANTS TO BUY
IT IS SOMETIMES CALLED WHAT?
BRAND EQUITY
MOST VALUABLE BRAND 2012
BRAND VALUE: $77.8 BILLION

26. BRANDS THAT ARE VALUABLE TO NIKE

27. MANUFACTURER BRANDS VS DEALER BRANDS
MANUFACTURER BRANDS
“BRANDS CREATED BY PRODUCERS.”
DEALER BRANDS
“BRANDS CREATED BY INTERMEDIARIES.”

28. PACKAGING
“INVOLVES PROMOTING, PROTECTING, & ENHANCING THE PRODUCT.”
HOW CAN PACKAGING BE IMPORTANT TO BOTH SELLERS &
CUSTOMERS?
-GOOD PACKAGING MAKES PRODUCTS EASIER TO IDENTIFY &
PROMOTES THE BRAND AT THE POINT OF PURCHASE.

29. WHAT IS SOCIALLY RESPONSIBLE PACKAGING?
TAKES INTO CONSIDERATION THE ROLE OF PACKAGING IN
POLLUTON, GLOBAL WARMING, & RESOURCE USE.

30. CONSUMER PRODUCTS
“PRODUCTS MEANT FOR THE FINAL CONSUMER.”
-CONSUMER PRODUCTS ARE ARE DIVIDED INTO 4 GROUPS BASED ON
THE WAY PEOPLE BUY PRODUCTS.
1) CONVENIENCE
2) SHOPPING
3) SPECIALTY
4) UNSOUGHT

31. CONVENIENCE PRODUCTS
“PRODUCTS A CONSUMER NEEDS BUT ISN’T WILLING TO SPEND MUCH
TIME OR EFFORT SHOPPING FOR.”

32. SHOPPING PRODUCTS
“PRODUCTS THAT A CONSUMER FEELS ARE WORTH THE TIME &
EFFORT TO COMPARE WITH COMPETING PRODUCTS.”

33. SPECIALTY PRODUCTS
“PRODUCTS THAT THE CUSTOMER REALLY WANTS & MAKES A
SPECIAL EFFORT TO FIND.”

34. UNSOUGHT PRODUCTS
“PRODUCTS THAT POTENTIAL CUSTOMERS DON’T YET WANT OR
KNOW THEY CAN BUY.”