Price
What is market share?
a firm's percentage of total sales volume generated by all competitors in a given market
What is product promotion?
Used to convince potential customers to buy products instead of buying from a computer
what is product
the product is what you are selling
what is market research
its when a company researches what their potential customers are interested in
what is a marketing information system
A set of procedures and methods that regularly generates, stores, analyzes, and distributes information for making marketing and other business decisions.
What is price fixing?
when competitors agree (in secret) to set price within certain ranges
What is public relations?
any activity designed to create a favorable image towards a business, its products, or its policies
why do we have product
so companies can make a profit by selling it
why do we have market research
so the company knows what their customers interests, which can change how they advertise
what is quantitative research
Marketing research that answers questions that begin with "how many" or "how much."
What is break-even point?
point when sales revenue equals the costs and expenses of making and distributing a product
What are premiums?
low-cost items given to customers at a discount or for free
when do we see product
in the stores
what is a sales forecast
The projection of probable future sales in units or dollars.
what is qualitative research
Marketing research that focuses on smaller numbers of people and tries to answer questions that begin with "why" or "how."
What is demand elasticity?
change in price creates a change in demand
What is sales promotion?
represents all marketing activities, other than personal selling, advertising, and public relations, that are used to stimulate consumer purchasing and sales effectiveness
is there a such thing as virtual product
yes, you can buy stuff in video games
what is attitude research
Also known as opinion research; designed to obtain information on how people feel about certain products, services, ideas, or companies
whats Ikins favorite color
grey
what is competition cost-oriented pricing?
all costs and expenses are calculated and the desired profit is added to arrive at a price
What is promotional tie-ins
Involve sales promotional arrangements between one or more retailers or manufacturers and combine their resources to do a promotion that creates additional sales for each partner
whats nikes product
shoes
what is database marketing
also known as customer relationship management (CRM); a process of designing, creating, and managing customer lists.
what is media research
Also known as advertising research; focuses on issues of media effectiveness, selection, frequency