Term
|
Definition
| the different products and services a business sells |
|
|
Term
|
Definition
| placing a product in a certain market to get a desired customer response |
|
|
Term
|
Definition
| blending of the four marketing elements of product, distribution, price, and promotion used to reach a target market |
|
|
Term
|
Definition
| routes that products and services take from the time they are produced ot the time they are consumed |
|
|
Term
|
Definition
| pricing that is determined by how much customers are willing to pay |
|
|
Term
|
Definition
| price determined by using the wholesale cost of an item |
|
|
Term
|
Definition
| price determined by adding an amount ot the wholesale cost of an item |
|
|
Term
|
Definition
| price determined by subtracting an amount from the retail price |
|
|
Term
| Competition-based pricing |
|
Definition
| pricing that is determined by considering what competitors charge |
|
|
Term
|
Definition
| price charged can be determined by the amount of time it takes to complete the service |
|
|
Term
|
Definition
| one price can be charged for services that are combined |
|
|
Term
|
Definition
| point at which sales revenue equals the total cost of producing and distributing a product or service |
|
|
Term
|
Definition
| paid form of communication sent out by a business about a product or service |
|
|
Term
|
Definition
| establishing a favorable relationship with customers and the general public |
|
|
Term
|
Definition
| usually less than a minute in length and run during breaks in television programming |
|
|
Term
|
Definition
| can last a half hour or more and usually demonstrates product being offered. |
|
|
Term
| Telephone directories (yellow pages) |
|
Definition
| list the phone numbers of business in a certain area |
|
|
Term
|
Definition
| lincludes fliers, catalogs, letters, and other correspondence sent to target customers through the mail |
|
|
Term
|
Definition
|
|
Term
|
Definition
| signs on public transportation |
|
|
Term
|
Definition
| a written statement meant to inform the media of an event or product |
|
|
Term
|
Definition
| free promotion generated by media coverage (ribbon cutting of new business) |
|
|
Term
|
Definition
| direct communication between a prospective buyer and a sales representative in which the sales representative attempts to influence the prospective buyer |
|
|
Term
|
Definition
| decisions are based on logical reasoning of customers |
|
|
Term
|
Definition
| decisions are based on the desire to have a specific product or service |
|
|
Term
|
Definition
| act of offering an incentive to customers in order to increase sales |
|
|
Term
|
Definition
| a refund offered to people who purchase a product |
|
|
Term
|
Definition
| what you want your busines to achieve in the next year |
|
|
Term
|
Definition
| what you want your business to achieve in the next 2 to 5 years |
|
|
Term
|
Definition
| percentage of market that a business owns |
|
|
Term
|
Definition
| establishing informal ties with people who can help your business grow |
|
|
Term
|
Definition
| show where your business will be 5, 10, even 20 years from now |
|
|
