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Marketing Unit 3.0 Vocabulary

Vocabulary

AB
Business ImageThe view or opinion that customers have about a business.
ChannelPathway of distributing products to consumers
Channel LengthTotal number of channel members in a channel of distribution.
Channel ManagementProcesses by which marketers ensure that products are distributed to customers efficiently and effectively.
Channel MembersBusinesses or individuals who assist in moving goods and services from the producer to the consumer.
PricingMarketing function that involves determining and adjusting prices to maximize return/profit and meet customers' perceptions of value.
Pricing ObjectivesGoals a company hopes to accomplish through its pricing strategies.
PositionImage or impression of a business organization or product compared to competitors.
PositioningA product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers.
ProductMarketing element referring to what goods, services or ideas a business will offer its customers.
Product BrandA name, term, symbol or design (or combination of these) that identifies a product and distinguishes it from competitors' products.
Product Life CycleThe stages through which goods and services move from the time they are introduced on the market until they are taken off the market.
Product DevelopmentThe efforts involved in the creation of a new product.
Product DifferentiationA strategy for making a product appear different form similar products on the market.
Product LineA group of related product items.
Product ManagerAn individual who monitors one or more existing products and develops new products.
Product MixThe particular assortment of goods and services that a business offers in order to meet the needs of its markets and its company goals.
Product PlacementA type of "other" media that uses products as props in movies, television shows, and computer games.
Product-Related ServicesServices that are offered with a product such as maintenance, delivery, or repair
Product-Service ManagementA marketing function that involves obtaining, developing, maintaining and improving a product or service mix.


Mrs. Padgett

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