PRODUCT MGMT FINAL EXAM

A ____________ is a set of symbols, words, marks, perceptions and images that represent a company, product or service. While many people think of a brand as only a logo, tag line or an audio jingle, a brand is actually much larger. A brand is the core value or promise of what will be delivered to or experienced by the customer. It creates associations and expectations amongst customers for products made by a company.

A ______________ once chosen is something that will stay with the product forever. The company is going to spend money in telling the customers about it and building a relationship with customers based on this name. Over a period of time any name chosen will become popular given the right type of advertising and money spent.

These are brands that are usually created by retailers.

Licensed brands are those brands that are owned by companies that have over the years created a well recognised brand or product.

These brands are those that are created by manufacturing companies. Manufacturers not only develop the product but also spend money on developing the brand.

____________ , co-partnering or dual branding is the act of using two established brand names of different companies on the same product.

A __________ is when we extend an existing brand name to a new form, size, flavour, etc of an existing product category using an existing brand name.

A ____________ is when an existing brand name is extended to new product categories.

__________ are done when the company introduces new brands in an existing product category.

___________with a new product category are the most difficult and expensive way to launch a product.