Chapter 10: Marketing Mix Flashcards
Industrial products
Goods bought for use in processes
E-Commerce
Buying and selling products through an electronic medium (internet)
Product life cycle
Shows sales of product over its life
Social media
Social interaction among people
Create, share and exchange information
Multichannel distribution
Customers can buy the product in several ways
Stores and online
Viral marketing
Use social media and networks to raise brand awareness
Boosts sales by getting users to promote campaign (blog/advert)
Product portfolio
Market position of all the products of a business
In terms of market share and market growth
Boston matrix
Analyses all products in terms of market share and market growth
Balanced portfolio
Appropriate mix of products in terms of their market share and market growth
Consumer products
Goods brought for use by the general puplic
Marketing mix
Combo of marketing choices that can be used to influence consumers to buy products
