front 1 4c's | back 1 A customer-focused marketing model: Consumer needs and wants, Cost, Convenience, and Communication. |
front 2 Advertising promotion | back 2 The use of paid media to inform, persuade, or remind consumers about a product or service. |
front 3 Brand image | back 3 The perception consumers have of a brand, shaped by their experiences and interactions. |
front 4 Brand | back 4 A name, symbol, or design that identifies and differentiates a product from competitors. |
front 5 Building customer relationships | back 5 Developing long-term interactions with customers to encourage loyalty and repeat business. |
front 6 Competitive pricing | back 6 Setting a product's price based on the prices of similar products offered by competitors. |
front 7 Cost plus pricing | back 7 A pricing method that adds a fixed mark-up to the cost of producing or buying the product. |
front 8 Customer loyalty | back 8 The tendency of customers to continue buying the same brand or product over time. |
front 9 Demand | back 9 The desire and ability of consumers to purchase a good or service at a given price. |
front 10 Distribution channels | back 10 The route a product takes from the producer to the final consumer. |
front 11 Dynamic pricing | back 11 A pricing strategy where prices are adjusted in real time based on market demand and conditions. |
front 12 E-commerce | back 12 Buying and selling of goods and services through the internet or other digital platforms. |
front 13 Extension strategies | back 13 Methods used to prolong the life cycle of a product, especially during the maturity stage. |
front 14 Focus groups | back 14 A small group of people brought together to give feedback on a product or idea. |
front 15 Licensing | back 15 A legal agreement allowing one company to produce and sell a product owned by another. |
front 16 Market Growth | back 16 The change in the size of a market, measured by sales value or volume, over time. |
front 17 Market orientated | back 17 A business approach where products are developed based on customer needs and preferences identified through market research. |
front 18 Market research | back 18 The process of gathering, analyzing, and interpreting information about a market. |
front 19 Market segmentation | back 19 Dividing a market into distinct groups of consumers with similar needs or characteristics. |
front 20 Market Share | back 20 A company’s sales revenue as a percentage of total sales in the market. |
front 21 Market | back 21 All actual and potential customers for a product who have the willingness and ability to buy. |
front 22 Marketing Mix | back 22 The four key elements (Product, Price, Place, Promotion) used to successfully market a product or service. |
front 23 Marketing Objectives | back 23 Specific, time-bound goals set by a business to guide its marketing efforts and evaluate success. |
front 24 Marketing Strategy | back 24 A long-term plan to achieve marketing objectives using available resources. |
front 25 Mass marketing | back 25 A strategy that targets a wide audience with a single product or service. |
front 26 Niche marketing | back 26 Targeting a small, specific segment of the market with tailored products. |
front 27 Packaging | back 27 Materials used to protect and present a product, while also helping to promote and identify it. |
front 28 Penetration pricing | back 28 Setting a low initial price to gain market share and attract new customers. |
front 29 Price elasticity | back 29 A measure of how much demand for a product changes in response to a change in price. |
front 30 Price skimming | back 30 Setting a high price for a new product to maximize profit before competitors enter the market. |
front 31 Primary research | back 31 The collection of new, firsthand data tailored to meet a business’s specific research needs. |
front 32 Product Differentiation | back 32 Making a product stand out from competitors by emphasizing its unique features or benefits. |
front 33 Product life cycle | back 33 The stages a product goes through from introduction to decline in the market. |
front 34 Product oriented | back 34 A business approach focused on developing products first, then finding the market for them. |
front 35 Promotional pricing | back 35 Temporarily reducing prices to boost sales or attract customers. |
front 36 Random Sampling | back 36 A sampling method where each member of the population has an equal chance of being selected. |
front 37 Sales Promotion | back 37 Short-term incentives used to boost sales or encourage repeat purchases. |
front 38 Sampling | back 38 The process of selecting a representative group from a target market to conduct research. |
front 39 Secondary research | back 39 Collecting and using data that has already been published by others. |
front 40 Social media marketing | back 40 Using social networking platforms to promote a business’s products or services. |
front 41 Supply | back 41 The total amount of a specific good or service available to consumers at a given time and price. |
front 42 Surveys | back 42 A method of gathering data by asking current or potential consumers for their views and preferences about a product. |
front 43 Unique Selling Point (USP) | back 43 A feature or benefit that makes a product stand out from competitors, such as lowest cost, best quality, or uniqueness. |
front 44 Viral marketing | back 44 A marketing technique that encourages consumers to share and spread promotional messages online, especially via social media. |
front 45 B2B | back 45 A form of commerce where businesses sell products or services to other businesses (e.g., manufacturer to wholesaler). |
front 46 BSC | back 46 Business-to-consumer (B2C) refers to selling products or services directly from a business to individual consumers. |
front 47 Customer Relationship Marketing | back 47 Marketing strategies focused on building long-term relationships with customers to encourage loyalty and repeat business. |
front 48 Tangible attributes | back 48 The physical features of a product that can be objectively measured and compared (e.g., size, weight, material). |
front 49 Intangible attributes of product | back 49 The non-physical qualities of a product, such as brand image, reputation, and emotional appeal, which are harder to measure. |
front 50 Boston MatrixAnalysis | back 50 A strategic tool used to categorize a firm’s products or brands based on their market growth and market share. |
front 51 Product PortfolioAnalysis | back 51 A review of a company’s product range to assess performance and determine where to allocate resources. |
front 52 Psychological Pricing | back 52 A pricing strategy where prices are set to appear more attractive to consumers (e.g., $9.99 instead of $10.00). |
front 53 Direct Promotion | back 53 A type of promotion that involves direct communication with targeted consumers via email, messaging, or mail campaigns. |
front 54 Digital Promotion | back 54 Marketing using digital platforms such as websites, social media, mobile apps, or search engines to promote products or services. |
front 55 Above-the-line promotion | back 55 A form of promotion using mass media channels such as TV, radio, or newspapers to reach a wide audience. |
front 56 Below-the-line promotion | back 56 Promotion that uses non-media methods such as direct mail, personal selling, sales promotions, or sponsorships to target customers. |
front 57 Marketing plan | back 57 A detailed document outlining an organization’s marketing objectives, strategies, budget, and actions for a specific period. |
front 58 Branding | back 58 The process of creating a distinct identity for a product through name, logo, design, and messaging to differentiate it from competitors. |
front 59 Consumer profile | back 59 A description of the typical customer based on demographics, buying habits, and lifestyle characteristics. |
front 60 Geographic segmentation | back 60 Segmenting a market based on geographical location such as region, city, or climate. |
front 61 Demographic segmentation | back 61 Dividing a market into segments based on variables such as age, gender, income, education, or occupation. |
front 62 Psychographic segmentation | back 62 Segmenting the market based on lifestyle, personality, values, and interests of consumers. |
front 63 Product positioning | back 63 How a product is perceived in the minds of consumers relative to competing products. |
front 64 Perception map | back 64 A visual representation that shows how consumers view different products based on key attributes such as price and quality. |
front 65 Price discrimination | back 65 Charging different prices to different groups of consumers for the same product, based on willingness or ability to pay. |
front 66 Loss leader pricing | back 66 Setting a very low price on a product to attract customers and encourage them to buy other higher-margin items. |
front 67 Predatory pricing | back 67 Deliberately setting very low prices to drive competitors out of the market, often considered illegal or anti-competitive. |
front 68 Price leadership | back 68 A pricing strategy where one dominant firm sets the price, and other firms in the market follow. |
front 69 Product innovation | back 69 The development and introduction of new or significantly improved products to meet changing customer needs. |
front 70 Test marketing | back 70 Launching a new product in a limited area to assess customer response before a full-scale launch. |
front 71 Public relations (PR) | back 71 Efforts to build and maintain a positive image of the company through media coverage, sponsorships, or events. |
front 72 Integrated marketing communications (IMC) | back 72 A strategy that coordinates all promotional tools and messages to provide a consistent brand message across all channels. |
front 73 Marketing audit | back 73 A comprehensive review and evaluation of a company’s marketing activities, strategies, and performance. |
front 74 Unique value proposition (UVP) | back 74 A clear statement that explains how a product or service uniquely solves a customer’s problem or satisfies a need better than competitors. |