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Stack #2613271

TermDefinition
identifying the customer need then making and distributing product so people will want it? marketing
plan setting out how a business identifies and satisfy customer needs marketing strategy
specific gap in the market niche
creating an image for a product in the mind of consumers in the target market product positioning
Product Price Place Promotion marketing mix
good or service produced to fit a customer need Product
creating an identity for a product that clearly distinguishes it from the competition branding
providing protection, look good and providing information product packaging
most products pass through distinct life stages product life cycle
development(market research identifies niche and makes it), launch(product is launched), growth(product becomes known and accepted and sales grow), maturity(sales level off and competitors enter), saturation (sales flatten out and change may be necessary stages
aiming to set a price that will help the form complete its marketing objectives pricing strategies
adding a profit percentage to costs of sale mark up
setting a price based on expectations of customera psychological pricing
firm deliberately charges higher to create impression of superior quality premium pricing
firms charge very high price at launch price skimming
largest profit price profits maximisation pricing
low price is charged to get as much market share penetration pricing
charging different prices to different customers discriminatory pricing
setting prices below cost to drive competitors away predatory pricing
sold below cost price lossleading
various paths goods will follow from producer to consumer channels of distribution
Producer-Wholesaler-Retailer-Consumer Channel A
Producer-Retailer-Custommer Channel B
Producer-Agent-Customer Channel C
Producer-Consumer Channel D
All efforts made to communicate & influence target market promotion
messages designed to inform and persuade advertising
specific incentives offered to customers to attract attention sales promotions
contacting customers in person personal selling
communication by telephone telemarketing
promotional messages direct mail
Created by: kimjongpill$
Popular Marketing sets

 

 



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