101 Marketing Terms (62-81) Flashcards
(20 cards)
Net Income (Profit)
The value determined by subtracting all expenses from gross profit
Objections
Concerns, hesitation, doubts, or other reasons a customer has for not making a purchase
Package
The physical container or wrapping that protects a product
Parliamentary Procedure
The orderly process used to facilitate a professional business meeting
Partnership
A legal agreement between two or more people to be jointly responsible for the success or failure of a business
Positioning
Marketing a product in order to get customers to think of it in a specific way
Price
The value of money (or it’s equivalent) placed on a good or a service
Primary Data
Information obtained for the first time directly for a particular problem in marketing research
Product
A good or service which has monetary value and satisfies customer needs and wants
Product Depth
The number of product items that are offered in each product line offered by a retalier
Product Life Cycle
The process that a product goes through in its life.
The four stages are: Introduction, Maturity, Growth and Decline
Product Line
A group of closely related products that are manufactured or sold by a business
Product Mix
All of the different products that a company makes or offers for sale to the public
Product Width
The number of product lines offered by a retalier
Promotion
Any form of communication a business or organization uses to inform, persuade, or remind
Prosperity
The phrase of the business cycle when the economy is flourishing
Publicity
Involves placing positive and newsworthy information about a business, its products, or its policies in some type of media so the public is made aware of it
Quota
Limits either the monetary value or quantity of goods that may be imported
Recession
The phrase of the business cycle which is characterized by a period of economic slowdown that lasts at least 6 months
Recovery
The phrase of the business cycle when there is a noticeable increase in economic activity
