+ vocabulary Flashcards
AIDA
attention, interest, desire and action. strategy used to sell products
market leader
a company or product with the largest market share
loss leader
selling a product at a loss to get customers into the shop. the shop owner then hopes that they will buy other products they hadn’t planned to buy
gross margin
the difference between the cost of manufacturing a product and how much it is sold for
break-even point
occurs when sales are equal to costs
expenditure
a specific amount of money spent
net profit
the money that is left over all expenses have been deducted
variable costs
the money needed to produce a product, which increases according to the number of products produced
turnover
the total amount of sales of goods or services of a company
bankruptcy
occurs when a company is no longer able to pay its debts
budget
a plan for spending and income
the 4 p’s
refers to the product, the price of the product, the place it is distributed and sold, and its promotion. these are the factors considered in the marketing campaign
brand awareness
indicates how well known a particular brand is
cash cow
a product which needs a little advertising and always sells well. it can be due to the demand for the type of product or the brand awareness
collateral
a type of security required to get a loan
