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Marketing

TermDefinition
Advertising A non-personal form of promotion delivered through media outlets that generally require the marketer pay for message placement
Agents A specialty service firm found within a marketer’s channel of distribution that, for a fee, works to bring the marketer together with buyers
Pricing The evaluation of something in terms of its price
Market research Research that gathers and analyzes information about the moving of good or services from producer to consumer
Brand A name given to a product or service
Advertising agency An agency that designs advertisement to call public attention to its clients
Promote Assign to a higher position
Communication The activity of conveying information
Publicity A message issued in behalf of some product or cause or idea
Competitor The contestant you hope to defeat
Loss leader Selling products at a low price to attract customers
Target market The audience at which the product is aimed
Niche market Very specific market where a product is developed specially to meet the needs of consumers in the market
Marketing mix A combination of PRODUCT ,PRICE, PLACE , PROMOTION
Public relations To create and maintain a good image of the firm and its products
Channel of distribution The network of firms that distribute and deliver goods from manufacturer to consumer
Price Price must cover all firms cost and also earn a profit
Price discrimination When companies charge different prices to different consumers for the same product to maximise their profit
Sponsorship When companies provide money for sporting or charitable events in return for advertising
Desk research This involves researching existing information e.g. examining business records, looking up suitable internet sites examining census of population, Central Statistics Office.
Field research This involves obtaining new information directly from the customer.
Created by: MrOGrady
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