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Reading:
Read the following text, and write a brief heading for each paragraph.

Products and Brands

1………………………………………………………………… Marketing theorists tend to give the word product a very broad meaning, using it to refer to anything capable of satisfying a need or want. Thus services, activities, people (politicians, athletes, film stars), places (holiday resorts), organizations (hospitals, colleges, political parties), and ideas, as well as physical objects offered for sale by retailers, can be considered as products. Physical products can usually be augmented by benefits such as customer advice, delivery, credit facilities, a warranty or guarantee, maintenance, after-sale service, and so on. 2………………………………………………………………… Some manufacturers use their name (the ‘family name’) for all products, e.g. Philips, Colgate, Yamaha. Others including Unilever and Procter &gamble, market various products under individual brand names, with the result that many customers are unfamiliar with the name of the manufacturing company. The major producers of soap powders, for example, are famous for their multi-brand strategy which allows them to compete in various market segments, and to fill shelf space in shops, thereby leaving less room for competitors. It also gives them a greater chance of getting some of the custom of brand switchers. 3………………………………………………………………… Most manufacturers produce a large number of products, often divided into product lines. Most product lines consist of several products, often distinguished by brand names, e.g. range of soap powders, or of toothpastes. Several different items (different sizes or models) may share the same brand name. Together; a company’s items, brands and products constitute its product mix7 since different products are always at different stages of their life cycles with growing, stable or declining sales and profitability, and because markets, opportunities and resources are in constant evolution,...
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