Product branding means creating an identity for a product that clearly distinguishes it from competitors’ products. It consists of a brand name and a logo.
A brand logo is a distinctive visual image that will help the product stand out from competitors’ products.
Brand loyalty occurs when customers repeatedly purchase a particular branded product on a regular basis.
q q q A brand name is the distinctive name given to a product. q q q q q q q q q
The product life cycle refers to the theory that, like people, most products pass through distinct life stages: introduction, growth, maturity and decline.
Wholesalers are businesses that buy goods in very large quantities from producers and sell them in smaller quantities to retailers.
Retailers are shops at the end of the chain of distribution that sell goods and services to consumers.
Promotion refers to communicating with customers in order to attract their attention to a product or service.
Advertising involves communicating with consumers to inform, persuade or remind them about a product or service.
Impulse purchases are unplanned decisions to buy a particular product or brand.
Spam refers to electronic junk mail.
Public relations (PR) means communicating with the media using good news stories to create favourable publicity for a firm or its products. It also includes sponsorship.
16. q q q
Channels of distribution describe the various routes that goods may follow to get from the producer to the consumer. q q q
q q q q q q q q q q q q
q q q q q q
q q q
Sponsorship occurs where a company pays money to have their name associated with a major event or a charitable cause.
