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Ch.6 Consumer Awareness
Ch.6
8
Business
10th Grade
10/07/2014

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Cards

Term
Branding
Definition
The promotion of a product or service by identifying it with distinct characteristics (usually associated with public perception, quality or effectiveness)
Term
Brand recognition/awareness
Definition
Refers to the public's ability to recall and recognize a brand by its logo, jingles, packaging ,etc.
Term
Buyer's remorse
Definition
Feeling regret or concern after making a large purchase.
Term
Caveat emptor
Definition
Latin term for "buyer beware"
Term
Financing
Definition
To buy an item with credit; paying over time.
Term
Marketing
Definition
The process of communicating the value of a product or service to customers.
Term
Opportunity cost
Definition
Refers to financial opportunity that is given up because you choose to do something else with your money.
Term
Significant purchase
Definition
An amount of money you spend, usually $300, that causes some pain to part with.
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