In: Business and Management

Submitted By 94strikes
Words 7525
Pages 31
BUAD 307 Key Terms
(from your textbook)
Chapters 10 to 18
Please note that this is not “new” or “different” information; these terms are the exact same ones that are highlighted in the margins of your textbook chapters. Many of your classmates found that having the vocabulary in this format is helpful while studying, which is why I have posted this list.

CHAPTER 10 TERMS associated services | (also called augmented product) The nonphysical attributes of the product including product warranties, financing, product support, and after-sale service. | | | | augmented product | See associated services. | | | | brand association | The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality. | | | | brand awareness | Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers. | | | | brand dilution | Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold. | | | | brand equity | The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. | | | | brand extension | The use of the same brand name for new products being introduced to the same or new markets. | | | | brand licensing | A contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee. | | | | brand loyalty | Occurs when a consumer buys the same brand's product or service repeatedly over time rather than…...

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