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PI-001 Glossary 2/2

AB
Place (Distribution)Marketing element focusing on considerations in getting a selected product in the right place at the right time
PricingA marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value
Pricing objectivesGoals a company hopes to accomplish through its pricing strategies
Profit marginA ratio of net profit (after taxes) divided by net sales that reflects the profit per dollar of sales
Product decisionsMarketing element referring to what goods, services, or ideas a business will offer its customers
Promotional budgetThe amount of money a business plans to spend on promoting its goods and services during a certain period of time
Promotion decisionsMarketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products
MediumThe message channel used by a seller to promote a good, service, or idea (e.g., radio, television, newspapers, magazines)


Business Marketing Teacher, Career Technical Education
CENTRAL CABARRUS HIGH SCHOOL
Concord, NC

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