Market Flashcards
All the companies or individuals involved in moving goods or services from producers to consumers
Distribution Channel
An intermediary that stocks manufacturers’ goods or merchandise, and sells it to retailers and professional buyers
Wholesaler
Dividing a market into distinct groups of buyers who have different requirements or buying habits
Market segmentation
Making a product (appear to be) different from similar products offered by other sellers, by product differences, advertising, packaging, etc.
Product differentiation
Possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services
Market opportunities
Setting a high price for a new product, to make maximum revenue before competing products appear on the market
Market skimming
Someone who contacts existing and potential customers, and tries to persuade them to buy goods or services
Sales representative
The attributes or characteristics of a product, such as size, shape, quality, price, reliability, etc.
Product features
The extent to which supply or demand of a product responds to changes of price
Price elasticity
The strategy of setting o low price to try to sell a large volume and increase market share
Market penetration
Ways of telling people about your products
Promotion
The part of the total market that buys your product
Market share
Knowledge of your company’s products
Product awareness
Other companies that sell similar products
Competitors
Finding out about the market
Market research
