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Introduction to Business & Marketing

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Presentation on theme: "Introduction to Business & Marketing"— Presentation transcript:

1 Introduction to Business & Marketing
Product Labeling Introduction to Business & Marketing

2 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

3 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

4 How Much to Pay? Comparison shopping
Note prices, features, and benefits of competing products The most expensive is NOT always the best!

5 Why Buy? Peers Habit Advertising

6 Be Smart Study advertisements Read consumer publications Shop sales
Use shopping lists Resist pressure and gimmicks Look for product warranties Read product labels

7 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

8 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

9 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

10 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

11 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

12 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

13 Activity Complete assignment

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