Edexcel Business Topic 2.2.1 Flashcards
To learn business topic 2.1.1 (Page 6)
1
Q
What is Differentiation
A
Process of developing a unique product/s!
2
Q
4 ways of how product/s and services could be differentiated by!
A
1.Quality
2.Function
3.Design
4.Customer Services
Can include other logical ways of differentiating!
3
Q
How to use Quality to differentiate your product/s
A
Better Quality than your rivals!
4
Q
How to use function to differentiate your product/s
A
Give products a UNIQUE function
5
Q
How to use Design to differentiate your product/s
A
Give product/s a UNIQUE DESIGN
6
Q
How to use customer services to differentiate your product/s
A
Provide excellent services
7
Q
Benefits of Differentiation
Give 2
A
- Increase competition
- Business could add value to differentiated product
8
Q
What is Brand
A
A named product which consumers see as being different from other products
9
Q
List 3
Benefits of a strong brand
A
- Encourages Brand Loyalty
- Greater consumer awareness
- Business could charge premium price for a branded product
