Marketing Flashcards
What is Market Research?
Market Research is finding out what the consumer wants.
How does pricing affect consumer behaviour?
Setting a price that will encourage the consumer to buy while allowing the firm to make a profit.
Packaging
Packaging the product to keep it safe yet attractive enough to induce consumers to purchase
What is Branding?
Branding is attaching names, logos, trademarks or colour schemes that consumers are aware of or have an affinity to the product.
What is Sales Promotion?
Sales promotion is running campaigns with the aim of encouraging consumers to buy the products
What is Advertising?
Advertising is is the paid presentation of goods or services through the media for the purpose of encouraging consumer patronage.
What is Distribution?
Distribution is getting the goods as close as possible to the consumer.
