Coordinated series of linked advertisements to sell products/services
1 of 32
Advertising
Producing information and promoting the sale of products/services
2 of 32
Branding
Creating unique name/image for product to attract customers. TM represetns good quality.
3 of 32
Census
Data collected by the Government about income, population, etc.
4 of 32
Competition Based Pricing
A pricing strategy used by setting the price of a product/service based on the prices that competitors set.
5 of 32
Competitors/Competition
Person/Organisation in the same industry battling to gain more customers and increase sales.
6 of 32
Cost-Plus Pricing
A pricing strategy used by adding a % of profit to total costs of making a product. Gives selling price.
7 of 32
Focus Groups
Small number of people together to focus on a specicfic product.
8 of 32
Interviews (for market research)
Formal discussion between worker and target customer, to establish best method of advertising and what is most intruiging.
9 of 32
Loss Leaders
Products advertised and sold at below cost price to attract customers.
10 of 32
Market Data
Price/trade related data for a financial company reported by a trading venure, ie Stock Exchange.
11 of 32
Market Research
Research to identify the specific market and other characteristics.
12 of 32
Market Segmentation
Dividing a market of potential customers into segments based on: Age, Gender, Lifestyle, Income and Location
13 of 32
Marketing
Action of a business promoting and selling goods.
14 of 32
Marketing Mix/4Ps
Controllable elements of a products marketing plan: Product, Price, Place and Promotion.
15 of 32
Penetration Pricing
A pricing strategy used by setting prices lower than competitors to gain a foothold in the market.
16 of 32
Point of Sale Promotion
Price reductions, Loss leaders, Competitions and Free samples.
17 of 32
Price Skimming
A pricing strategy that is used by setting prices higher than the competitors due to the luxury of a product or to set a standard price against competitors.
18 of 32
Primary Research
Research obtained first hand, also known as Field research.
19 of 32
Printed Media
Newspapers, Magazines, Leaflets, etc.
20 of 32
Product Life Cycle
The stages a product goes through from first being developed to being withdrawn. The four stages are: Introduction, Growth, Maturity and Decline.
21 of 32
Promotional Pricing
A pricing strategy that is used by setting prices lower to sell off old stock, often in the form of offers.
22 of 32
Qualitative Data
Data based on the opinions of those being asked.
23 of 32
Quantitative Data
Data in the form of facts of numbers. Easier to analyse than qualitative data.
24 of 32
Questionnaires
Questions with a choice of answers, devised for purposes of helping a business achieve its goals.
25 of 32
Religious Discrimination
Discrimination due to religion/belief.
26 of 32
Secondary Research
Research collected that already exists, also known as Desk research.
27 of 32
Social Media
Websites/Applications to enable social networking and advertising.
28 of 32
Target Market
Patricular market segment at which a market campaign is focused.
29 of 32
Trials
Trial purchases to test if a product is popular.
30 of 32
Website
Web pages used on internet for advertising.
31 of 32
Wholesaler
'Breaking the Bulk'. A large storage centre to but large quantities of products at lower prices.
32 of 32
Other cards in this set
Card 2
Front
Producing information and promoting the sale of products/services
Back
Advertising
Card 3
Front
Creating unique name/image for product to attract customers. TM represetns good quality.
Back
Card 4
Front
Data collected by the Government about income, population, etc.
Back
Card 5
Front
A pricing strategy used by setting the price of a product/service based on the prices that competitors set.
Comments
No comments have yet been made