Page 577 - Business Principles and Management

Unit 6

facts & FIGURE 21-2 The Five Levels of Consumer Brand Awareness

figures Consumers are unable to identify the brand.

Consumers can identify the brand but it has little influence on their

purchase decision.
Corporate identity refers to a
company’s name or logo—its Consumers can identify the brand but will not purchase it because
of its brand.
visual expression or its “look.”
Corporate image is the public’s Consumers easily recognize the brand and will choose it if it is available.
perception of a company. Cor-
Consumers view the brand as the most satisfying and will not purchase
porate branding, by contrast, is
a different brand.
a business process—one that is
planned, strategically focused,
and integrated throughout the
organization.

CHECKPOINT
Name four purposes of packaging.

21.1 Assessment

UNDERSTAND MANAGEMENT CONCEPTS
Circle the best answer for each of the following questions.
1. A(n) ________ product offers different features and options for the
consumer.
a. augmented
b. basic
c. enhanced
d. extended
2. A group of similar products with obvious variations in design and
quality to meet the needs of distinct customer groups is called a
a. product assortment
b. product mix
c. product line
d. product design

THINK CRITICALLY
Answer the following questions as completely as possible.
3. Describe the different perceptions of a product that are usually
held by businesspeople and consumers.
4. Explain how a business can expand its product line.

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