Introduction to IB chapter 17 Flashcards
Ethnography
Research method exploring cultural phenomena through participant observation
Marketing mix
The four underlying components of marketing (product, price, promotion, place 4P’s)
Market segmentation
The process of identifying and categorizing consumers based on differences in their purchasing behavior
Muti-tier branding
A strategy that involves a portfolio of various brands aimed at appealing to different consumer segments
Total cost of ownership
The complete cost associated with owning a product, including the initial purchase price and ongoing maintenance or service expenses
Country of origin images
The perceptions and associations that link a brand to the culture of a specific country
Price elasticity
How demand changes when prices change
Distribution channel
The network of businesses and intermediaries that helps move goods from producers to consumers
Outbound logistics
The processes involved in purchasing and coordinating suppliers and intermediaries on the customer side
Intra-logistics
The efficient movement of goods within a manufacturing facility
Inbound logistics
The processes involved in purchasing and coordinating suppliers and intermediaries on the supply side
Agility
The ability to react quickly to unexpected shifts in supply and demand
Alignment
The alignment of interests of various players
Third-party logistics (3PL)
A neutral intermediary in the supply chain that offers logistics and various support services
Business-to-consumer (B2C) marketing
Marketing aimed at end consumers who purchase products for personal use
