Marketing I: Introduction & Product Policy Flashcards
Retailer’s brand
= own labels, private brands
Branded goods (Clever) sold exclusively by a particular retailer (Billa), although they are often produced by manufacturers of national/global brands.
Generic brands
No-name products
Diversification
= Diversifikation
“New products for new markets”
Creating additional sources of income independent of existing ones (produse noi, line separat decat cele deja existente) => risky, may lead to loss of control over costs
Financial diversification
A policy of aquiring a wige range of shares of different companies, instead of “putting all your eggs in one basket”.
Marketing
Complex system designed to (4 Ps): plan, price, promote and place (distribute) a firm’s products with a view of satisfying consumer wants and needs and, of course, achieving certain organisational goals (profit).
Market analysis
Analying the potential market to find out what it’s consumers wants and needs really are.
Market segmentation
= Targeting
Segment the market in order to identify the suitable target group where, or to whom, the firm can sell it’s goods (si sa se si cumpere) => trying to reach as many customers with one product range
GEOgraphic, DEMOgraphic, PSYCHOgraphic
Societal/ Socially responsible marketing
A marketing concept that tries to avoid the waste of ressources or burden the environment.
Product life cycle
= Produktlebenszyklus
Pattern of the sales volume and profits generated by a particular product over its span of life.
1 Introduction (Launch) 2 Growth 3 Maturity 4 Saturation 5 Decline 6 Abandonment (Petrification)
Product line
= Produktlinie
Group of products which posesses similar physical characteristics and are intended for broadly similar uses.
Product mix
= Produktionsprogramm/ Produktmix
Comprises the full range of products offered; the number of different lines carried, or different models, items produced.
Product policy
= Produktpolitik
The first task in the field is to determine what product(s) to buy or produce and ultimately sell => product innoation: survival may depend on the companie’s ability to come up with new items when the existing ones reach maturity.
Simplification
= Sortimentsbereinigung
“Back to basics”
Involves the removal of certain items from a product line or the complete line (unprofitability).
Branding
= Markenpolitik
Policy designed to help potential and existing customers to identify and differentiatie the products of a particular seller from those of his competitors.
Family/umbrella/blanket brand
