Marketing Mix Flashcards
Fast-moving consumer goods (FMCG’s)
Goods that are sold quickly at fairly low unit cost, such as food and household products.
Personal branding
Promoting oneself as a product with a brand personality.
Extension strategy
Revival of a product by rebranding, repackaging, or repricing it, or by finding new markets.
Portfolio analysis
Process of measuring a company’s products by growth rate and market share to determine marketing spend.
Product life cycle management (PLM)
Management of a product from inception to withdrawal.
Price, value, and cost.
Price refers to the amount a product sells for; value refers to the product’s actual worth; and cost is the amount that has been spent to manufacture the product.
Channel margin
Cost that an intermediary adds to producers selling price, which is added to price paid by costumers.
Push strategy
Method in which producer promotes products to wholesaler, wholesaler to retailers, and retailers to customers.
Pull strategy
Use of advertising and promotion to sell to customers.
Integrated marketing communication (IMC)
Promotion of same brand message across all media channels.
MarCom (marketing communication)
Full range of promotional activities used to reach out to the market.
Silver surfers
Pensioners who regularly use the internet, especially for online shopping, searches and social media.
Generation X
People born between 1960 and the early 1980s.
Millennials/Generation Y
People born between the early 1980s and early 2000s.
