1
Q
What is a product concept and what does it contain
A
Goods, service or idea
Contains both tangible (physical and intanagle features)
2
Q
What is the steps in the product life-cycle
A
- Intro
- Growth
- Maturity
- Decline
3
Q
What is a product portfolio
A
- Total combination of products (e.g. nestles different product they sell)
4
Q
What is product branding
A
A brand is a name, term symbol or design or a combination of these that uniquely identifies a product (or range)
5
Q
What does product branding help do?
A
- It helps to distinguish the business from the competition.
6
Q
What are the branding components
A
- Brand name
- Brand mark: symbol or design
- Trademark: brand name and/or mark that the business has the exclusive legal right to use
7
Q
What are the benefits of a strong brand
A
- Repeat Sales- revenue!
- Customers
- Brand loyalty
- Growth & Opportunity - business to expand, employment, markets.
- Longevity & stability
8
Q
What is intellectual property protection
A
the legal rights and measures used to safeguard creations of the mind
9
Q
What is the aims of packaging
A
identification
containment
protection
safety
to attract consumers.
