Questions and Answers
Which type of product is characterized by consumers seeing a clear difference between it and its competitors?
Heterogeneous product
What is an example of a homogeneous product?
Bottled water
Which type of consumer product is typically purchased without much thought or comparison?
Impulse product
What is the main tool marketers use to distinguish their products from the competition’s?
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What is the main purpose of branding according to the text?
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What does brand equity refer to?
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What is brand loyalty?
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How does branding contribute to repeat sales?
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What is a key consideration for wholesalers and retailers when it comes to packaging?
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How can packaging convenience impact a product's market share and profits?
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What is one of the most important packaging issues in today’s business environment?
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How can new products benefit a company in terms of increased sales?
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