Introduction to Business & Marketing Product Labeling Introduction to Business & Marketing
What to Buy? Brand name Generic product Trade name for a product or service produced by a particular company Generic product Plainly labeled, unadvertised products that are sold at lower prices than a brand-name goods Many prescription drugs and grocery items have generic versions
When to Buy? Prices change during different seasons Examples Buy air conditioner in the winter Buy a convertible in the fall or winter Buy Christmas decorations after the holiday
How Much to Pay? Comparison shopping Note prices, features, and benefits of competing products The most expensive is NOT always the best!
Why Buy? Peers Habit Advertising
Be Smart Study advertisements Read consumer publications Shop sales Use shopping lists Resist pressure and gimmicks Look for product warranties Read product labels
Product Labeling 1994-Nutrition facts became mandatory for most packaged foods Any food with more than one ingredient must have an ingredient list Fresh and raw foods not required to have labels
Label Requirements Nutrient amounts are listed in two ways Metric amounts % Daily Values Required dietary components Fat and Saturated Fat Cholesterol Sodium, Fiber Total Carbohydrates Sugars, Protein Vitamins A and C Calcium and Iron
Labeling Requirements Ingredients must be listed in descending order by weight Sources of some ingredients must be stated by name Ex- macaroni is made from flour
Dates Pull or “Sell By”- last day the product can be sold product is good for a few days after this date Pack date- this is when the food was packed or processed Expiration date- last date a food can be eaten
Label Claims Nutrient Content Claims differ from Nutrition Facts Products must meet strict nutrition requirements before they can make these claims The government strictly defines terms like Free, low, high, reduced, less, fewer
Label Claim Requirements Nutrient Content Claim Definition Calorie Free Less than 5 calories Low Calorie 40 calories or less Light or Lite 1/3 less calories or 50% less fat Fat Free Less than .5 grams fat Low fat 3 grams or less of fat Sugar free Less than .5 grams sugars High fiber 5 grams or more
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