BBI10pg135-139 (3).pdf - ACTIVITIES FOR \u2026 INFORMATION CONNECTION EXTENSION 1 a Briefly describe the competitive market and the consumer market b

BBI10pg135-139 (3).pdf - ACTIVITIES FOR … INFORMATION...

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Chapter 6 • Competitive Environments135One of the most powerful competitive tools that any business has is its image—the way the consumer sees the business or thinks about the products that the business makes or sells. When the differencebetween products is minor, the consumer’s image of the product isvery important. CREATING ANIMAGESome businesses spend hundreds of thousands of dollars to create animage. Others spend very little. In either case, three things can be partof the image: a brand name, a logo or trademark, and a slogan.1. a)Briefly describe thecompetitive market and the consumer market.b)Choose a product. Namesome businesses that compete inthe same market. What demo-graphic does each business’sproduct cater to?c)You are designing a new type of cellphone. What similar cell phones exist inthe competitive market? How will you giveyour product the competitive edge? Whatdemographic will your product appeal to?2. a)Explain the term“market share.”b)Research market share data forany product other than athleticshoes.c)Select a product (other than athleticshoes) and describe how you wouldincrease the market size.INFORMATIONCONNECTIONEXTENSIONACTIVITIES FOR …3. a)List the fivedemographic groups.b)Using an advertisement from a magazine, identify the demo-graphic groups targeted by theproduct being advertised. c)Work in groups of three. Choose aproduct that has traditionally been mar-keted to a male audience. One personmakes up an ad that appeals to males, thesecond makes up an ad that appeals tofemales, and the third makes up an adthat appeals to both genders. Repeat witha product that has traditionally been mar-keted to females. Discuss the similaritiesand differences among each set of ads. Dogender-specific ads contribute to sexism? STRETCHYOUR THINKINGWhich is moreimportant to youwhen decidingwhich cola todrink—taste orimage? Why?Competitive Images
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Brand NameA brand name is a word or group of words that a business uses todistinguish its products from competitors’ products. The brand nameis the most important part of a product or company’s image because itis how the company is identified. If you buy a bottle of Jones SodaRoot Beer for the first time and really enjoy it, the company will wantyou to remember the name for a number of reasons. They may wantyou to purchase this soft drink again. If you can’t recall the name, youcould easily buy a competitor’s product instead. If you’re talking tofriends about beverage preferences and mention Jones Soda to them,you’re giving the company free publicity. Or you may like the oneflavour from Jones Soda enough that you want to try other flavoursfrom that company. Brand names should be distinctive and stand outfrom the competition. They should also be easy to remember.
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  • Spring '19
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