101 Marketing Terms (62-81) Flashcards
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
