- Created by: Christian
- Created on: 07-01-10 16:58
Added Value = Sales - Purchases - Labour Costs - Capital Costs
Added Value can also be defined as the difference between a particular product's final selling price and the direct and indirect input used in making that particular product.
A marketing strategy in which the attributes of the product (the asset) are used to market the product. Types of attributes can include the brand name and the image associated with the brand. An asset-led marketing strategy asks "How can we use the strengths of the business to satisfy consumer needs?" Business strengths can include core competencies, brand image, and global distribution. This strategy can be used concurrently with a market-led marketing strategy.
Outline of significant demographic and psychographic details about the user of a particular product. The data include the user's age category, marital status, income level, education, occupation, sex, area of residence, and purchase behavior patterns. Knowledge of the consumer profile is very important in the determination of a creative advertising campaign. The advertising must appeal to both the user and the potential user of the product.
A market segment is a group of people or organizations sharing one or more characteristics that cause them to have similar product and/or service needs. A true market segment meets all of the following criteria: it is distinct from other segments (different segments have different needs), it is homogeneous within the segment (exhibits common needs); it responds similarly to a market stimulus, and it can be reached by a market intervention. The term is also used when consumers with identical product and/or service needs are divided up into groups so they can be charged different amounts. These can broadly be viewed as 'positive' and 'negative' applications of the same idea, splitting up the market into smaller groups.
Market share, in strategic management and marketing is, according to Carlton O'Neal, the percentage or proportion of the total available market or market segment that is being serviced by a company. It can be expressed as a company's sales revenue (from that market) divided by the total sales revenue available in that market. It can also be expressed as a company's unit sales volume (in a market) divided by the total volume of units sold in that market. It is generally necessary to commission market research (generally desk/secondary research, although sometimes primary research) to estimate the total market size and a company's market share.
Mass Marketing is a market coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. It is type of marketing (or attempting to sell through persuasion) of a product to a wide audience.