Product - term 2

Question 1

What is packaging

Answer 1

• the physical appearance of how the good is presented to the consumer
• it is the final moment a business can influence the purchasing of a customer
• packaging must appeal to the tatgt market
• different styles of packaging can promote what the company stands for

eg David jones uses black and white for prestige

Question 2

benefits of packaging

Answer 2

• preserves the product
• protects from damage and tampering
• assists with the display of the product
• attracts consumer attention
• makes transportation and storage easier
• the shape of the packaging can also make consumers associate with the product eg coke bottle

Question 3

what is branding

Answer 3

• refers to a name, term, symbol or design or any combination of these that identifies a specific product and distinguishes it from its competition
• the brand must appeal to the target market and ideally be recognised by core customers

Question 4

what are the benefits of branding

Answer 4

businesses gain repeat sales because consumers recognise the business’s products

easier to introduce new products to the market as consumers are already familiar with the business’s existing brand

encourages customer loyalty - has the added benefit to the business being able to charge a higher price