PM003(08)

2. A description of services that are rarely the same because they involve interactions between people.
6. Form of cooperation between two or more brands, which can create synergies that create value for both participants, above the value they would expect to generate on their own.
8. Where the time of production is very close or simultaneous with the time of consumption.
10. This refers to a graph showing fewer products selling in large quantities versus many more products selling in low quantities
11. Retailer’s own brand, e.g. Sainsbury’s Taste the Difference.
13. Simply explained, it is a theory in which products or brands follow a sequence of stages, including introduction, growth, maturity and sales decline.
14. The supplier delivers an important key component to the final product, e.g. Intel delivers its processor to the major PC manufacturers.
15. A description for services that cannot be touched or tested and payment is for use or performance.

1. A description for services that cannot be stored for future use and can cause problems with matching supply and demand.
3. A business activity of value exchanges that is accessible through electronic networks, which include the internet and mobile networks.
4. This is the premium a customer/ consumer would pay for the branded product or service compared with an identical unbranded version of the same product/service.
5. Normally brand communication involves just two senses – sight and hearing. This involves all five senses: sight, hearing (sound), smell, touch and taste.
7. Type of advertising in which celebrities use their status in society to promote a product, service, charity or cause.
9. The position that a product holds in a customer’s mind and can have an impact on premium pricing and competitive advantage.
12. The time it takes from the conception of an idea until it is available for sale. TTM is important in those industries where products become quickly outmoded.