Product
This term refers to the features, design, quality, packaging, and brand associated with what is being sold.
What is a Product?
This term refers to the locations where a product is available for purchase.
What is distribution channel?
This term refers to the amount of money customers must pay for a product.
What is price?
This type of promotional material includes pamphlets, brochures, and flyers designed to convey product information.
What is print advertising?
This term describes the method of gathering and analyzing customer feedback to enhance products or services.
What is market research?
This type of product is purchased for personal use rather than for resale.
What is a consumer product?
A company decides to limit its distribution to only select retailers to create a sense of exclusivity.
What is selective distribution?
This pricing strategy involves setting a high price initially and then lowering it over time.
What is price skimming?
This promotional method involves offering free samples of a product to generate interest and consumption.
What is sampling?
Brand loyalty is defined as a consumer's commitment to repurchase or continue using a brand. What term describes this loyalty?
What is customer loyalty?
This term refers to items that are marketed through various feature modifications or improvements.
What is product differentiation?
This term refers to the various channels (online, retail, direct sales) through which products are sold to consumers.
What is distribution channel?
This pricing approach considers the costs of production plus a desired profit margin.
What is cost-plus pricing?
Using celebrities or influencers to endorse a product is known as:
What is celebrity endorsement?
This term refers to the practice of customizing marketing messages and materials for individual consumers.
What is personalization?
The cycle that describes the stages a product goes through from introduction to decline.
What is the product life cycle?
This strategy ensures that a product is available in as many locations as possible to maximize sales.
What is intensive distribution?
The practice of adjusting prices based on current market demands and competitor pricing.
What is dynamic pricing?
This strategy includes using public relations tactics to manage a company's image and communicate with the public.
What is public relations (PR)?
The type of marketing that focuses on sustainability and ethical practices in promoting products is called:
What is green marketing?
These are products that are bought with little thought and include items like candy or snacks.
What are convenience products?
This analysis evaluates the effectiveness of a location for business operations, considering factors like customer traffic and competition.
What is location analysis?
When setting the price lower to attract more customers and gain market share, it is known as:
What is penetration pricing?
A form of promotion that encourages customers to share information about a product on social media is called:
What is viral marketing?
This is a comprehensive plan that outlines how a company will market its products or services, integrating various marketing strategies.
What is a marketing plan?