Marketing Fundamentals
This is described as the active process of going to market to attract consumers.
Marketing
This pricing strategy involves adding a certain markup to the cost of each product to ensure a profit.
Cost-Plus Pricing
The acronym AIDA in promotion stands for Attention, Interest, Desire, and ...
Action
This is the primary function of distribution in business.
Getting a good or service to the customer
This packaging element is often referred to as the "silent salesperson" of a product. (specific word)
Containment
This concept dictates that a business must focus on satisfying the customer and overcoming competition.
The Marketing Concept
Setting prices that look lower, such as $19.99 instead of $20.00, is an example of this strategy.
Psychological Pricing
This promotional tool uses short-term special deals like coupons and contests to make people buy faster.
Sales Promotion
This term describes the route a product takes from its original source (producer) to its final customer.
Channel of distribution
According to the firm Yankelovich, Inc., this is the number of advertisements the average person is exposed to each day.
5,000!
These are defined as things that make it difficult for other companies to sell a specific good or service.
Barriers to entry
This occurs when demand for a good or service is less than availability.
Scarcity
This term refers to how familiar the general public is with your brand.
Brand awareness
This type of distribution channel occurs when the producer sells goods directly to the consumer.
Direct channel
This marketing style relies on creativity, imagination, and surprise rather than a massive budget.
Guerilla marketing
This stage of the Product Life Cycle is characterized by high costs for new machinery and packaging.
Introduction Stage
If the demand for a product is not affected by a change in price, the product is said to have this.
Inelastic demand
When used within marketing, this specific color is used to portray a meaning of energy.
Red
This mode of transportation has the advantage of moving large quantities farther at a lower cost per item.
Ships
In advertising, this term refers to the competition for the audience's attention while they are consuming an ad.
Clutter.
Unlike a short-lived fad, this is defined as a mass movement toward a particular style or value, such as "going green".
A Trend
This is defined as a measure of the rate of rising prices of goods and services in an economy.
Inflation.
This practice involves allowing other organizations to use your brand for a fee.
Brand licensing
In advertising, this term refers to the number of people who are exposed to a message.
Reach
While standard "clutter" involves outside competition for attention, this specific term refers to having conflicting messages within the same individual advertisement.
Internal clutter