2.2 definitions Flashcards
Marketing mix
The four P's of marketing Product Price Place Promotion
Aesthetics
The visual attractivness of something
The design mix
The combination of Aesthetics, Function and cost
Viable
capable of working
Product Portfolio
The range of goods and services offered by a business
The product life cycle
a graph that plots the sales of a product through the four stages
Economies of scale
Average cost fall as a business increase output
Maximise
increase to the greatest amount
USP
unique selling point
Mass market
a large market where customers have similar needs
Generic
a characteristic relating to an entire group
Niche market
small market where customers hhave specific needs
Discontinued
no longer sold
Emotive language
language to affect people at an emotional level
Medium
the way in which something can be communicated
Sales promotion
a short term special offer
Stock
products held by a business in a shop or warehouse for sale to customers
Pressure group
A group of people who join together to try to influence governmet policy
Viral marketing
advertising using social network
Ecommerce
using the internet for transactions
Mcommerce
using mobile techh to carry out transaction
Retailing
selling products in a physical shop or on the internet
E tailing
retailing through the internet
Mark up
The amount of money added to the cost price
