Product (Leaving Cert Business): Flashcards

Good or service meeting customer needs and wants

Special feature making product different from competitors

Creating positive image of product in customers' minds

Creating distinct identity separating product from competitors

Brand with largest market share in a product category

Retailer products sold under their own brand name

Five stages

Introduction, growth, maturity, saturation, decline

Slow sales growth, high advertising spending

Sales & profits peak then level off