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Sem unit 2 vocab

TermDefinition
Bait-and-Switch Advertising Advertising one product (the bait) at a very attractive price, then informing the customer that the advertised product is either unavailable or of poor quality, convincing the customer to purchase a different, more expensive product.
Deceptive Advertising Advertising that misleads consumers, either by making unjustified claims regarding a product's composition, qualities, sponsorship, or performance or by omitting a material fact concerning the product's com­position, qualities, sponsorship, or performance
Direct Distribution channel of distribution is straight from manufacturer to consumer
Economic Flow the movement of resources from resource owners to producers and from producers to consumers
Economy the system in which people make and spend their incomes
Entrepreneurs who assume the risks of starting and operating businesses
Ethics basic principles that govern your behavior
False Statements of “Fact” Advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive
Feature a fact or characteristic of the product
Goods tangible objects that can be manufactured or produced for resale
Indirect Distribution intermediary/middlemen (wholesaler, retailer) involved in channels of distribution
Intangible not capable of being detected though the senses
Intermediaries business firms operating between manufacturer & the customer/buyer that aides in the movement of product (middlemen); o performs Marketing functions better than manufacturer is capable of.
Manufacturer a type of producer that changes the shapes or forms of materials so that they will be useful to consumers
Product Knowledge information about a specific good or service that can be used in sales presentations.
Products goods and services
Benefit advantage consumers receive from using a product
Created by: ericmalanda
Popular Marketing sets

 

 



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