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