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| A word, group of words, letters, or numbers that represents a product or service. |
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| Corporate brand: identifies and promotes a company or a particular corporation. |
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| Incorporates a unique symbol, coloring, lettering, or design element that is easily visible. |
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| A specific type of brand mark, one with human form or characteristics. |
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| A word, name, symbol, sound, brand name, brand mark, trade name, trade character, color, or a combination of these elements that identifies a good or service. |
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| Also known as a producer brand, this is owned and initiated by a national manufacturer or by a company that provides services. |
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| Private distributor brand |
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| Known as private brand, store brand, dealer, or private label, this is developed and owned by wholesalers and retailers. |
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| A product that does not carry a company identity. |
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| A branding strategy that uses an existing brand name to promote a new or improved product in a company’s product line. |
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| A legal authorization by a brand owner to allow another company (the licensee) to use its brand, brand mark, or trade character for a fee. |
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| A strategy that offers a combination of manufacturer, private distributor, and generic brand to consumers. |
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| A strategy that combines one or more brands in the manufacture of a product or in the delivery of a service. |
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| The information tag on a product or package that gives the brand name, trademark, or logo. |
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| A label that gives information about the product’s use, construction, care, performance, and other features. |
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| A label that states the quality of the product, such as eggs or meat. |
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| An assessment of a company’s strengths and weaknesses and the opportunities and threats that surround it; SWOT: strengths, weaknesses, opportunities, threats. |
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| Scanning of outside influences on an organization. |
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| process of classifying people who form a given market into even smaller groups |
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| smaller group of people or families with common characteristics or needs |
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| entire large market of potential customers with no segmentation |
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| specific group of customers at which a company aims its products and services |
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| involves dividing a market based on where customers live |
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| dividing the market by customers’ personal statistics |
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| Psychographic segmentation |
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| dividing the market by lifestyle choices |
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| dividing the market by the relationships between customers and the product or service |
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| A formal written document that directs a company’s activities for a specific period of time. |
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| A brief overview of the entire marketing plan. |
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| The study of the internal and external factors that affect marketing strategies |
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| let everyone know what the marketing plan will accomplish |
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| Strategy that identifies target markets and sets marketing mix choices that focus on those markets |
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| putting the marketing plan into action and managing it |
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| discusses measures that will be used to evaluate the plan |
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| section of the marketing plan that includes supplemental materials such as financial statements, sample ads and other materials that support the plan |
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| Selling the same product and using the same promotion methods in all countries. |
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| company’s use of an existing product or promotion from which changes are made to better suit the characteristics of a country or region. |
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| Creating specifically designed products or promotions for certain countries or regions. |
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| value in money placed on a good or service |
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| a calculation that is used to determine the relative profitability of a product |
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| a firm's percentage of the total sales volume generated by all competitors in a given market |
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| the relative standing a competitor has in a given market in comparison to its other competitors |
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| the point at which sales revenue equals the costs and expenses of making and distributing a product |
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| situations in which a change in price creates a change in demand |
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| situations in which a change in price has very little effect on demand for a product |
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| Law of diminishing marginal unity |
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| consumers will buy only so much of a given product, even though the price is low |
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| companies try to lower prices to be competitive and out do each other |
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| occurs when competitors agree on certain price ranges within which they set their own prices |
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| creating unfair competition |
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| Bait and switching advertising |
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Definition
| when a business advertises a low price for an item it has no intention of selling |
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| when a price is set higher than normal for a product or service that is suddenly in high demand |
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| pricing goods with an odd or even number to match a product's image |
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| pricing goods according to what the customer is willing to pay |
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| the difference between the retail or wholesale price and the cost of an item, must be high enough to cover expenses and ensure a profit |
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| pricing products by calculating all costs and expenses and adding in desired profit, cost of making product is determined first ,then the amount of money to ensure a profit is added on to arrive at a price |
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pricing new item very high
Penetration |
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| pricing below the competition |
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| selling goods in a product line at specific price points |
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| selling several items as a package for a set price |
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