The Marketing Mix - Product Flashcards
0
Q
What is a product mix?
A
A product mix is the total number of products offered by a company
1
Q
What is a USP
A
A USP is the products unique selling point
2
Q
What is a product range?
A
A product range is a group of similar products made by a business
3
Q
What is branded?
A
Branded is a named product that is seen as different
4
Q
What is own branded?
A
Own branded is a product sold under the name of a retailer rather than the manufacturer
5
Q
What are the positives of branded products?
A
- know what to expect
- good quality
- established name ( reputation )
6
Q
What are the negatives of branded products?
A
- expensive
- lots of competition
- have to do lots of advertising
7
Q
What are the positives of own branded products?
A
- cheap
- large target market
- growing market for own brand products
8
Q
What are the negative of own branded products?
A
- poor quality
- no loyalty
- low profit margins
