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SEM 1.04/1.05 Vocabulary

AB
BrandAll the combined impressions and experiences associated with a particular company, good or service.
Licensed MerchandiseGoods bearing the name or logo of a sport/event product produced and distributed by an authorized manufacturer.
Owned Goods or ServiceA product that involves repairing or changing a good that the consumer has already purchased.
PerishabilityA product's ability to withstand being stored.
QualityThe degree of excellence of a good or service - how good it is.
Rented Goods or ServiceA product that involves giving consumers limited use of a good for a certain period of time.
SeparabilityA product's ability to be considered apart from its provider.
SmoothingOffering consumers a discount for purchasing products that otherwise would go to waste.
VenuesBuildings or places where sports and events occur.
FeatureDescribes an actual part or physical characteristic of a product.
BenefitDescribes how a product will directly offer a user a solution.
MarketIncludes the group of all potential customers who share common needs and wants, and have the ability and willingness to buy the product.
Target MarketIncludes the group of consumers that a company desires to have as customers.


Princeton High School

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