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Chapter 9 Vocabulary

Developing a Marketing Strategy and Marketing Plan

AB
attribute-based goodproducts in which a variety of differences exist, and the consumer considers a number of factors to determine the best value
branda unique name, symbol, or design that identifies a product, service, or company
emergency goodsproducts or services that are purchased as a result of an urgent need
guaranteea general promise or assurance of quality
imagea unique, memorable quality of a brand
impulse goodsitems purchased on the spur of the moment without advance planning
market analysisidentifies a business''s strengths and weaknesses and the opportunities and threats it faces
marketing plana clear written description of the marketing strategies of a business and the way the business will operate to accomplish each strategy
marketing strategythe way marketing activities are planned and coordinated to achieve an organization''s goals
missionthe nature of the business or the reasons the business exists
positioning statementa specific description of the unique qualities of the marketing mix that make it different from the competition and satisfying to the target market
price-based goodsproducts that consumers believe are similar but have significant price differences
product life cycleidentifies the stages a product goes through from the time it enters the market until it is no longer sold
specialty goodsproducts that have a strong brand loyalty
staple goodsproducts that are regular, routine purchases
unsought goodsproducts that consumers do not want to buy
warrantya specific written statement of the seller's responsibilities related to the guarantee


Computer Applications, Business Communications, Marketing, and Personal Finance Teacher
South Windsor High School
South Windsor, CT

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