Business Terms Part Three

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Competitor
A business that provides similar products or services to another business in the same market
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Product Range
A group of similar products made by a business, like the number of different soap powders
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Brand
A named product which customers see as being different from other products and which they can associate or identify with
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Brand Image
The idea/impression/image that customers have in their mind about the brand
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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
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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
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Franchise
The right given by one business to another to sell goods or services using its name, logo or products
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Franchisee
A business that agrees to manufacture, distribute or provide a branded product under license by a franchisor
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Franchisor
The business that gives franchisees the right to sell its products, in return for a fixed sum of money, or a royalty payment
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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
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