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Marketing
This is section of definition flashcards for marketing class.
| Term | Definition |
|---|---|
| marketing | the process of developing, promoting, pricing, selling, and distributing products to satisfy the customer's wants and needs |
| marketing concept | all business activities should be aimed toward satisfying the consumer wants and needs whilst achieving company goals |
| customer orientation | do it their way |
| economics | study of allocating resources |
| distribution | transporting of goods |
| marketing research | the process or set of processes that links the consumers, customers, and end users to the marketer through information |
| brand | name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers |
| brand loyalty | when a person buys products from the same manufacturer repeatedly rather than from other suppliers |
| Market penetration | It is a measure of brand or category popularity |
| Brand preference | One of the indicators of the strength of a brand in the hearts and minds of customers |
| Customer satisfaction | It is a measure of how products and services supplied by a company meet or surpass customer expectation |
| Market share | percentage of a market accounted for by a specific entity |
| fixed costs | usiness expenses that are not dependent on the level of goods or services produced by the business |
| Gross margin | difference between revenue and cost before accounting for certain other costs. |
| Gross sales | the sum of all sales during a time period |
| Marketing spending | organization's total expenditure on marketing activities |
| Net profit | referred to as the bottom line, net income, or net earnings is a measure of the profitability of a venture after accounting for all costs |
| Numeric distribution | the percentage of stores that stock a given brand or SKU, within the universe of stores in the relevant market. |
| Operating margin | is the ratio of operating income |
| reliability | used to describe the overall consistency of a measure. |
| retention rate | Retention rate is the ratio of the number of retained customers to the number at risk |
| Sales effectiveness | ability of a company’s sales professionals to “win” at each stage of the customer’s buying process, and ultimately earn the business on the right terms and in the right timeframe. |
| Price premium | percentage by which a product’s selling price exceeds |
| sales territory | customer group or geographic district for which an individual salesperson or sales team holds responsibility. |
| positive | public relations that can help maintain a positive image |
| negative | public relations that can be very damaging to a company and its image |
| person selling | planned personalized communication |
| promotion | any form of communication a business uses to inform, persuade or remind |
| advertising | any paid, non personal form of communication |
| online media | includes the use of email and the world web |
| coupons | certifications that provide cash discount |
| product samples | free trial sizes |
| sponsership | a company pays the right to promote itself |
| rebate | money back from a purchase |
| newsletter | used to maintain positive relationships with shareholders |
| product placement | featuring a product or name brand in a TV or movie |
| cash discounts | offered encourage them to pay bills quickly |
| discount pricing | reduction from price list |
| net profit | difference between the selling price and all cost expense |
| fixed pricing | same price to all costomers |
| monopoly | one seller who dominates many buyers |
| markdown | actual reductions in selling price |
| loss leaders | pricing cost low or below cost to attract others |
| one price policy | consumers generally do not negotiate pricing |
| pricing objectives | goals a company hopes to achieve |
| quantity discounts | received by buyers for making a large order |
| profit | money business earns |
| unit pricing | prices stated in terms of standard unit |
| skimming pricing | a very high price |
| pricing variations | off-peak pricing |
Created by:
haileymabry
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