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AIPMM Glossary of Terms
Association of International Product Marketing & Management Glossary of Terms
38
Management
Graduate
12/10/2012

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Term
Brand
Definition
A make,identifying mark, label, trademark, imprint, or name that dinstinguishes the originator, creator, or manufacturer of goods or services
Term
Brand Equity
Definition
The quality associated with a brand based on value over a significant period of time; the affirmative perception of a brand or service based on customer loyalty and the reputation of a service or product
Term
Brand Extension
Definition
Introducinga new or improved product by associating it with an establishe, positive brand image.
Term
Brand Identity
Definition
A logo, slogan, moniker, or mark assocaited with a product or service by consumers that sets it apart from competitors.
Term
Branding
Definition
Originating, building, improving, and safeguarding a name or symbol representing a specific product or service.
Term
Brand Positioning
Definition
Optimizing a brand by having a clear concept of its strongest points and placing it among similar products to accentuate it superiority and uniqueness in relation to its competitors.
Term
Line Extension
Definition
Adding new versions, types and varieties of existing branded services or goods.
Term
Multi-Branding
Definition
Presenting variations of an established brand to attract a wider buyer base.
Term
New Brands
Definition
Creating new names, logos and marketing campaigns to replace dimishing one and appeal to new demographic to increase recognition and sales.
Term
Marketing Positioning
Definition
Using consumer research, trend analysis and investigation of competitive products and services to set targeted products and services apart from above the competition.
Term
Price Elasticity
Definition
Adjusting prices of elastic products lower to create a revenue spike through multiple sales and increasing the prices on inelastic products to maximize revenues per item sold.
Term
Skimming Policy
Definition
Inflating prices across assorted market segments to skim profits from multiple sources.
Term
Target Pricing
Definition
The price at which a product or service is (1) competitive. (2) profitable and (3) has an attractive Target Cost, calculated by subtracting the Desired Profit from the Target Price. Product designers and engineers must determine the most profitable methods to create the goods.
Term
Value-based Pricing
Definition
Utilizing consumers' perceived values to set prices rather than base them on actual costs.
Term
Consumer Products
Definition
Goods and services purchased by the private sector.
Term
Convenience Products
Definition
Items bought on a regular basis to meet immediate needs.
Term
Shopping Products
Definition
Infrequently purchased goods and services consumers typically comparison shop before purchasing such as vehicles, major appliances, and furniture.
Term
Speciality Products
Definition
Luxury items associated with specific brands and exclusive features such as Jaguar, Tiffany and Lamborghini.
Term
Augmented Products
Definition
Products whose values in increased or enhanced by service-oriented add-ons such as warranties, service contracts and installations services.
Term
Actual Products
Definition
A concrete, physical product whose assessment includes style, quality, characteristics, brand, and presentation: also known as the Formal Product or Tangible Product.
Term
Filling
Definition
Plugging a product into a line to make it complete and comprehensive.
Term
Length of Product Mix
Definition
The cumulative number of line products sold in all classifications.
Term
Line Consistency
Definition
The common thread that runs through all products in the line.
Term
Line Stretching
Definition
Increasing market potential by expanding product offerings.
Term
Line Vulnerability
Definition
Assessing which products in a line have the highest profit and sales margins.
Term
Product Line Length
Definition
Increasing sales by presenting related items sold separately. For example, selling a perfume and offering individually packaged body lotion, deoderant and shampoo with the same fragrance.
Term
Width of Product Mix
Definition
How many types of product lines offered for sale by a company.
Term
Consistency
Definition
The relativity of the lines offered by a company.
Term
Depth
Definition
How many types or styles of each product are offered in each line.
Term
Product Mix
Definition
The variety and styles of product selections in a particular line.
Term
Width
Definition
The quantity of diverse product lines carried by a company.
Term
BCG Grwoth-Share Matrix
Definition
A portfolio management strategy that measures potential growth based on market growth rate projections and anticipated market share.
Term
Channel Conflict
Definition
Adversity among channel members regarding role definitions and goals.
Term
Distribution Channel
Definition
The channel through which the optimum number of potential buyers can be reached as well as where and when.
Term
Marketing Logistics
Definition
The best distribution of products for optimum sales and profits.
Term
Supply Chain Management
Definition
Coordinating the movement between suppliers, wholesale distributors, resellers, and customers to maximize sales.
Term
Value Chain
Definition
A wide variety of departments dedicated to optimize design, production, marketing, sales, deliveries, and product support.
Term
Value Delivery Network
Definition
An integrated group of manufacturers, suppliers, distributors, and buyers who work in conjunction with each other to boost the integrity of product distribution.
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