– a business with mainly social
objectives that reinvest most of
its profits into benefiting society rather than maximizing returns to owners
competition based pricing
competition based pricing
– a group of people who are asked about their attitude towards a product, service, advertisement or new style of packaging
– the pattern of sales recorded by a product from launch to withdrawal from the market and is one of the main forms of product portfolio analysis.
the physical goods used by the industry
to aid in production of
other goods and services, such as,
machines and commercial vehicles
someone who takes the financial risk of starting and managing a new venture.
manufactured process that can be reused and is expected to have a reasonably long life, such as a car or washing machine.
– making a product distinctive so that it stands out from competitors’ products in consumers’ perception.
these are marketing plans to extend the maturity stage of the product before a brand new one is needed.
research that leads to numerical results that can be statistically analysed.
setting a price that will give a required rate of return at a certain level of output/sales.
the market price that equates supply and demand for a product
sales of the business as a proportion of
total market sales.
an approach to marketing that
bases strategy on the firm’s
existing strengths and assets
instead of purely on what the
customer wants.
an inward-looking approach that
focuses on making products that
can be made-or have
been made for a long time-and then trying to
sell them.Social marketing – this approach considers not only the
demands of consumers but also the effects on all members of the public
(society) involved in some way
when firms meet these demands.
identifying and exploiting a small segment of a larger market by developing products to suit it.
– research into the in-depth motivations behind consumer buying behaviour or opinions.
– increasing the difference between the
cost of purchasing
bought-in materials and the price of the
finished goods are sold
– subjective opinions of customers about a product that cannot be measured or compared easily.
a quantified picture of consumers of a firm’s products, showing proportions of age groups, income levels, location, gender and social class.
– a form of promotion that is undertaken by a business by paying for communication with consumers.
– the consumer perception of a product or service as compared to its competitors.
the physical and tangible goods sold to
the general public –
they include durable consumer
goods like cars and washing
machines, and non durable
consumer goods like food, drinks and
sweets that can be
used only once.
expansion of a business by opening new branches, hops, or factories (also known as organic growth).
adding a fixed markup for profit to the unit price of a product.
– a business with mainly social
objectives that reinvest most of
its profits into benefiting society rather than maximizing returns to owners