Chapter 7 Flashcards
1
Q
Product
A
A good, a service or an idea
2
Q
Non-durable good
A
an item that does not last and that is consumed only once
3
Q
Durable good
A
product that lasts for an extended period of time
4
Q
Service
A
intangible activity, benefit, or satisfaction; primary, supplemental and virtual
5
Q
Inventory
A
cannot necessarily be stored and accessed when in demand
6
Q
Idle production capacity
A
supply of service exceeds demand; expensive
7
Q
3 keys of packaging and labelling
A
- Communication
- Brand Image
- Function
CBF
8
Q
Brand
A
A name, phrase, symbol, or design uniquely given by a company to a product to distinguish it from the competition
9
Q
Brand Loyalty
A
Favourable attitudes that a consumer has over time toward a brand
10
Q
Brand Personality
A
set of human characteristics associated with the brand
11
Q
Types of Brands
A
- Manufacturer
- Private-label
- Generic
MPG
