Smart Shopping- The Consumer Key Words Flashcards Preview

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Flashcards in Smart Shopping- The Consumer Key Words Deck (6)
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1
Q

Consumer Needs

A

Consumer needs are generally things we cannot live without.

2
Q

Consumer Wants

A

Consumer wants are things we would like to have, but they are not essential for living.

3
Q

Brand Name

A

A brand name is a distinctive name and logo that producer put on their products or services to distinguish it from another similar product or service.

4
Q

Loss Leader

A

A loss leader is the name given to a product sold below the price paid for it by the retailer with the intention of attracting customers into the shop.

5
Q

Advertising

A

Advertising is the techniques used by companies to tell you about their product or service and convince you to purchase their item over another company offering a similar product or service.

6
Q

Below Cost Selling

A

Below cost selling is when retailers sell a product at a lower price than they paid for it. This means they are selling at a loss.