Types of Products and Services

Protect and promote the product

Brand loyalty is when consumers keep buying the same brand instead of choosing a competitor’s brand. It is important in marketing as it ensures repeat purchases and customer retention.

The stages a product passes through from introduction, growth, maturity, to decline.

<p>In the Introduction stage, marketing focuses on informing customers about the new product, while in the Growth stage, marketing aims to establish a strong brand identity and customer loyalty.</p> Signup and view all the answers

<p>Brand image gives a product a unique identity and personality, distinguishing it from competitors. It helps consumers perceive the product in a certain way.</p> Signup and view all the answers

<p>Brand name, higher quality than unbranded products, unique packaging, brand loyalty, assured quality, and a brand image associated with consuming the product.</p> Signup and view all the answers

<p>Goods bought by consumers for their own use, can be perishable or long-lasting.</p> Signup and view all the answers

<p>Goods that are produced for other businesses' use to help with the production process.</p> Signup and view all the answers

<p>A special feature about a product that differentiates it from its competitors' product.</p> Signup and view all the answers

<p>Services that are produced to help other businesses.</p> Signup and view all the answers

<ol> <li>Satisfying existing needs and wants of consumers. 2. Not be expensive to produce. 3. New and original idea.</li> </ol> Signup and view all the answers

<p>Generate ideas, select the best idea for further development, develop a prototype, launch the product in a test area, go to a full market launch.</p> Signup and view all the answers