4th quarter exam (Entrep) Flashcards
The tangible item or the
intangible service that the
business firm offers for sale to
prospective customers.
Product
The amount of money paid by
the customer to the selling
business firm so the customer
can use the product.
Price
The provision of required
information to prospective
customers so that they are
persuaded to buy.
Ex. Commercialization
Promotion
It makes the business
company’s products available
in the location and time
required by buyers.
Place
significant tool for
creating the right marketing strategy and its
implementation through effective tactics.
Marketing Mix
The quality of being fair
and impartial.
Equity
An intermediary or agent between two parties especially : a dealer, agent, or company intermediate between the
producer of goods and the retailer or consumer
Middlemen
They are the main
coordinators of all the
factors of production like
land, labor, capital etc.
Producer
Is a marketing strategy in
which two or more businesses
join in an alliance for the
mutual benefit of all parties
Co-Branding
Disadvantages of
Co- Branding
- Coordination is oftentimes
difficult with the producer
and the middlemen - It entails legal contract
with can be complex and
difficult. - Overshadowing
brands. - It requires mutual
trust between the
two parties. - If the companies
don’t share the
same missions and
visions.
Advantages of Co-Branding
- It creates broader
customer appeal. - It develops greater
brand equity. - It expands the middlemen
brand in the market. - Risk sharing.
- More sales or
income
Referred to as consumer
packaging, that is in
direct contact with the
product.
Primary Packaging
The second packaging
layer and Its main
purpose is to group and
hold together individual
units of the product.
Secondary Packaging
Referred to as bulk or
transit packaging, is used
to group a large quantity
of a particular product.
Tertiary Packaging
