Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Marketing
| Term | Definition |
|---|---|
| Advertising | A form of non personal promotion in which companies pay to promote ideas,goods,or services in a variety of media outlets. |
| Agents | Intermediaries who bring buyers and sellers together and do not own the goods they sell. |
| Boomerang method | A selling method that converts a customers objection into a selling point. |
| Brand | A name,term,design,symbol,or combination of these elements that identifies a business,product,or service and distinguishes it from its competitors. |
| Channel of distribution | The path a product takes from its producer or manufacturer to the final user. |
| Channels | The avenues through which messages are delivered. |
| Closing the sale | The process of obtaining a positive agreement from the customer to buy. |
| Competition | The struggle between companies to attract new customers ,keep existing ones,and take away customers from other companies. |
| Coupons | Certificates the entitle customers to discounts on goods and services. |
| Demand | Consumer willingness and ability to buy products. |
| Demographics | Statistics that describe a population in terms of personal Characteristics. |
| Direct distribution | Sales of goods or services directly to the customer,with no intermediaries. |
| Direct Close | A closing method in which a sales person asks for the sale. |
| Distribution center | A warehouse designed to speed delivery of goods and to minimize storage costs. |
| Geographic | Segmentation of the market based on where people live. |
| Goods | tangible items of monetary value that satisfy needs and wants. |
| Greeting approach | A way to approach a customer that focuses on welcoming the customer. |
| Indirect distribution | sales of goods or services to the customer through one or more intermediaries. |
| Automated pricing | Allows the programmer to set the qualifications and then the system awards the targeted price when the conditions have been met. |
| Bait and Switch Advertising | First the customers are baited by advertising for a product or service at a low price; then the customers discover that the advertised good is not available. |
| Break even point | the point at which sales revenue equals the cost and expenses of making a distributing a product. |
| cash discounts | offered to customers to encourage them to pay their bills quickly. |
| Cost of goods sold | the total amount spent to produce or buy the goods sold. |
| Cost oriented pricing | business first determine the cost of producing or marketing the product and then add their desired profit. |
| cost plus pricing | all costs and expenses are added to the desired profit to determine the selling price. |
| Cost to produce | materials, labor, research and development, distribution, packaging, and overhead. |
| Deceptive pricing | the pricing of goods and services in such a way as to cause a customer to be mislead. |
| Demand oriented pricing | based on what current consumers are willing to pay for the goods/services. |
| Discount pricing | reduction from list price. |
| Dumping | the practice of is any kind of predatory pricing, especially in the context of international trade. |
| expenses | money which must be paid out in order to operate the business |
| deceptive advertising | the use of false or misleading statements in advertising. |
| Fixed expenses | costs that remain the same from one month to the next. |
| fixed pricing | same pricing to all customers no matter how many are purchased. |
| flexible price policy | customers are allowed to bargain for merchandise. |
| geographic pricing | different prices for customers in different parts of the world. |
| gross profit | the difference between the selling price and the cost of goods sold. |
| loss leaders | pricing products near or below cost to attract customers. |
| Markdown | actual reductions in the selling price. |
| markup pricing | adding an amount to the cost of goods to reach a selling price. |
| monopolistic competition | a large number of suppliers offer similar, but not identical products. |
| monopoly | one seller who dominates many buyers. |
| net profit | the difference between the selling price and all costs |
| Non price competition | using factors other than a price to attract customers. |
| odd even pricing | idea that prices ending in odd digit convey a bargain image. |
| one price policy | consumers generally do not negotiate pricing. |
| operating expenses | the costs of running the business. |
| optional product pricing | used for incremental sales. |
| Penetration pricing | initial price for product is set very low. |
| perfect competition | many buyers and many sellers all dealing in an identical product. |
Created by:
Gabby Cobb
Popular Marketing sets