Marketing Vocabulary #9

1. Product modification – an alteration in a company’s existing product

2. Product life cycle – the stages that a product goes through during its life (introduction, growth, maturity, decline)

3. Product positioning – the image a product projects; the goal is to set the product apart from the competition

4. Brand – name, term, design, or symbol (or combo) that identifies a business or organization and its products

5. Brand name – THE word, group of words, letters, or number representing a brand that can be spoken

6. Brand mark – part of the brand that is a symbol or design

7. Trade name – identifies the company or a division of a particular corporation

8. Trade character – brand mark with human form or characteristics

9. Trademark – brand name, brand mark, trade name, trade character or a combo of these that is given legal protection by the federal government

10. Package – the physical container or wrapping for a product that has a label on it (information tag)