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Small Business

Chapter 10

QuestionAnswer
Marketing Plan A plan used by a business to guide its marketing process to a desired conclusion.
Marketing Objectives Are what a business wants to accomplish through its marketing efforts.
Marketing Mix Made up of five marketing strategies you will use to reach your market.
Brand The name, symbol, or design used to identify a product.
Package The physical container or wrapper that holds the product.
Label The part of the package used to present information.
Product Positioning Refers to how consumers see your product compared to the competition's product.
Product Mix All of the products a company makes or sells.
Channel of Distribution The path a product takes from producer (or manufacturer) to final user (or consumer).
Intermediaries These are the people or businesses that move products between producers and final users.
Intensive Distribution Involves placement of a product in all suitable sales outlets.
Selective Distribution Limits the number of sales outlets in an area.
Exclusive Distribution Limits the number of outlets to one per area.
Marketing Tactics Activities that need to be taken to carry out the marketing plan.
Private Brand A brand that is owned and initiated by a wholesaler or retailer.
Guarentee An assurance of the quality of a product.
Diversification Is the process of investing in products or businesses with which you are not currently involved.
Created by: BrittanyWilson
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