Product
The name, symbol, or design used to identify a product
What is a brand
Someone who sells good to the final consumer for personal use
What is a retailer
The value of money placed on a good or service
What is price
A paid form of non-personal presentation of ideas, goods, or services
What is advertising
When something is prices at 19.99 to convey a bargain.
What is odd/even pricing (In this case odd pricing)
The physical container or wrapper that holds a product
What is a package
Someone who moves goods from manufacturer to the final user. Also known as a middleman
What is an intermediary
When business tries to take business away from their competition
What is gaining market share
Any activity designed to create a favorable image of a business or it's products
What is Public Relations
A kind feeling of approval and support that a business acquires outside of the value of their product
What is goodwill
The part of a package that is used to present information
What is a label
Businesses that buy large quantities of goods from manufacturers, store goods and resell them to other businesses
What is a wholesaler
Percentage of total sales volume generated by all competitors in a given market
Print media and Broadcast media
What are the two types of advertising
The way a business or organization is defined in people's minds.
What is an image.
All the products a company makes or sells. If one offers multiple products the company should think about how each product relates to each other.
What is the product mix
The path the product takes from producer (manufacturer) to final user
Channel of distribution
A calculation used to determine profitability of a product
What is return on investment
When a manufacturer tries to get a product through the channel of distribution. (convince a retailer to stock a product)
What is push policy (of promotion)
Symbol that represents a company
What is a logo
The benefit offered to consumers. It's style, distinctive characteristics, color, quality, and options
What are product features
Direct sales (using sales reps), Indirect sales (wholesaler) are examples of what type of market
What is the industrial market
Brand loyalty, price of products relative to income, availability of substitutes, luxury vs. necessity, urgency of purchase
What is supply and demand
Designed to create consumer interest.Consumer demand can encourage retailers to carry a product
Pull Policy (of promotion)
America runs on Dunkin is an example of this
What is a slogan (or tagline)