General
What is the proportion of sales in any market a company has called?
Market Share
This type of pricing strategy adjusts prices in real time based on the current market conditions.
Dynamic pricing
The shortest stage of the product life cycle.
Introduction Stage
This type of promotion gives money back to consumers either at the time of purchase or requires customers to file for it after purchase.
A rebate
This refers to all of the potential buyers and sellers of a particular good or service.
Market
What is the distribution channel used by Nike and Lululemon?
Producer -> Consumer
What are cheap imitations of products called?
Knockoffs
McDonalds uses this type of sales promotion with its Monopoly game.
A contest
This refers to the different kinds of people who buy a certain good.
Market Segments
This pricing strategy is a method that adds a markup to the production cost of an item.
Cost-plus pricing.
In what stage do companies often reduce prices to attract more customers?
The Maturity Stage
What is the special picture or symbol associated with a company or product called?
Logo
Business that compete with each other in the same market are called what?
Direct Competitors
This type of distribution uses phones to call potential customers in order to sell their products.
Telemarketing
What usually happens to competitors during the growth stage?
More competitors enter the market
What is the short catchy phrase attached to a brand or product called?
List three of the ways companies can innovate new products.
1. New materials
2. New scents
3. New flavours
4. New colours
5. New designs
6. New packaging
Products using this type of distribution policy are available at many locations.
Intensive distribution
In this stage the company must decide if they innovate their product or let it die.
Decline stage
What are two of the three types of messages to consumers used in advertisements?
1. Rational message
2. Emotional message
3. Social message