Revision Flashcards
Ethical consumerism
Buying products that are not harmful to the environment, animals or society
Fairtrade
An alternative method to international trade which promotes fair wages and environmentalism
Market segmentation
When the total market is subdivided into a group of people who share similar characteristics
Personal selling
Communication between a sales representative and a potential customer
Advertising
A paid, non personal message
Product differentiation
When products are the same/ similar are made to appear different/ better when compared to its competitors
Product endorsement
When celebrities act as opinion leaders and show their support for a product.
Product placement
The inclusion of advertising in entertainment
Promotion
Used to inform, persuade and remind consumers about its products
Publicity
A free news story about a business’ product
Relationship marketing
The development of long term relationships between individual customers
Sales promotion
Activities or materials used to direct inducements to customers.
Sponsorship
Promoting a product by associating it with a specific event
