Marketing Flashcards
4P’s of Marketing
Product
Price
Place
Promotion
2C’s of Marketing
Competition
Consumer
Good marketing develops this; the customers can name your brand as a part of a specific category
Brand Awareness
Better marketing develops this; customers prefer your brand and support it
Brand Insistance
Copycat version of the product
Knock-off
5 phases of the product life cycle
- Introduction
- Growth
- Maturity
- Decline
- Decision Point
Value of the brand in the market place
Brand Equity
A product at the maturity phase of the Product Life Cycle that generates high profits, allowing the business to use income from it to pay for developing new products
Cash Cow
Another name for stock the store has
Inventory
When putting a new product on the market some people like to be first to own it. These people are curious or adventurous consumers. What are they called?
Early AdOpters
Phase 1 of the Product Life Cycle, the product enters the marketplace through an introduction called this
Launch
Another name for a tag line
Slogan
Legally protected logo
Trademark
Special symbol associated with the product or company
Logo
The percentage of the market the company or brand has
Market Share
