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Marketing

Chapter 6

TermDefinition
Product mix A product's final form and assorted features
Product extensions Items offered in addition to the product to make it more attractive to the target market
Products enhancements Features added to the basic product that satisfy additional needs and wants
Product line A group of similar products with slight variations to satisfy the different needs of consumers
Brand The name, symbol, logo,word, or design that identifies a product, service, or company
Trademark The legal protection of words and symbols used by a company
Licensed Brand A well-known name and/or symbol established by one company and sold for use by another company to promote its products
Blue-chip athletes High-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field
NCAA A voluntary organization through which the nation's colleges and universities govern their athletics program
Fringe benefits Incentives received in addition to a base salary
Product life cycle The introduction, growth, maturity, and decline stages of a product
Skimming price strategy Introducing a new product at a very high price, emphasizing and uniqueness of the product
Penetration price strategy Using low pricing to help capture a large market share
Positioning A strategy used by a company to differentiate its products or services from its competitors' products or services
Created by: amanda859
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