Marketing competition and tne customer
The group of customers a business sells its products to
What is customer base?
The process of collecting, recording and analysing data about the customers, competitions and market for a product
What is market research?
Place,price,promotion,product.
What are four PS?
The amount of money made anailiable by a business for its marketing ctivities during a particular of time.
What is marketing budget？
A plan to achieve the marketing objectives using a given level of resources
what is marketing strategy
Developing products for a small segment of the market
What is niche marketing?
Products are developed boysed on consumer demams ad identified by market research
What is market-orientated?
The quantity of goods and services consumers are willing and able to buy.
What is demand?
Sales staff communicate directly with the consumer to achieve to achieve a sale and from a long-term relation between the firm and consumer
What is personal selling?
usually taxes quotas or bans that one country plans on the goods of other countries to prevent or increase the cost of them entering that country
what are barriers to trade
Selling the same product to the whole market
What is mass marketing?
Identify...
Discover the current...
Identify the strengths...
What is the use of market rresearch information?
The pattern of sales of a product from introduction to its withdrand from the markets
What is product life cycle?
1.money-off coupons or vouchers
2.point of sale displlays in shop
3.loyalty reward schemes
4.competition and games with cash or other prizes
What is salespromotion?
An agreement between 2 or more businesses to work together on a project
what is joint venture
No barriers exist that might prevent trade between different countries.
What is free trade?
This is the methods uses pictures or symbols to represent data every plctumeor symblol has a mmemerical value.
Pictograms
Represents the sales of the product over time
What is the product life cycle
shops other outlets that sell goods and services to the final consumer
what is retailer
The risk of poor quality or other problems that could damage the reputation of the business whose product it is
Dividing the whole market into segments by consumer characteristics and then targeting different products to each segment
This typemof graoh shows the ralations between two rariables
Line graphs
Business use some different methods for setting the price of products.
Price methods
A business that buys production bulk from producers and then sells them to retailers
what is wholesaler
Any mistakes made will reflect on all parties to the joint venture
what is the disadvantage for joint venture