Business Terms Part Three

?
Competitor
A business that provides similar products or services to another business in the same market
1 of 9
Product Range
A group of similar products made by a business, like the number of different soap powders
2 of 9
Brand
A named product which customers see as being different from other products and which they can associate or identify with
3 of 9
Brand Image
The idea/impression/image that customers have in their mind about the brand
4 of 9
Added Value
The increased worht that a business creates for a product; it is the difference between what a business pays its suppliers and the price that it is able to charge for the product or service
5 of 9
USP (Unique Selling Point)
A characteristic of a product that makes it different from other similar products being sold in the market such as desing, quality or image
6 of 9
Franchise
The right given by one business to another to sell goods or services using its name, logo or products
7 of 9
Franchisee
A business that agrees to manufacture, distribute or provide a branded product under license by a franchisor
8 of 9
Franchisor
The business that gives franchisees the right to sell its products, in return for a fixed sum of money, or a royalty payment
9 of 9

Other cards in this set

Card 2

Front

A group of similar products made by a business, like the number of different soap powders

Back

Product Range

Card 3

Front

A named product which customers see as being different from other products and which they can associate or identify with

Back

Preview of the back of card 3

Card 4

Front

The idea/impression/image that customers have in their mind about the brand

Back

Preview of the back of card 4

Card 5

Front

The increased worht that a business creates for a product; it is the difference between what a business pays its suppliers and the price that it is able to charge for the product or service

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Key terms resources »