
Marketing Concepts Flashcards

Flashcard
•
Business
•
12th Grade
•
Easy
Darren Malcolm
Used 1+ times
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
Branding
Back
The process of creating a unique name, design, or symbol that identifies and differentiates a product from others in the market.
2.
FLASHCARD QUESTION
Front
Brand Value
Back
The worth of a brand in terms of customer perception, loyalty, and financial performance.
3.
FLASHCARD QUESTION
Front
Competitor Based Pricing
Back
A pricing strategy where a company sets the price of its product based on the prices of competitors' products.
4.
FLASHCARD QUESTION
Front
Diversification
Back
A growth strategy where a company enters new markets with new products, often to spread risk and opportunities.
5.
FLASHCARD QUESTION
Front
Market Share
Back
The percentage of total sales in a market captured by a particular company or product.
6.
FLASHCARD QUESTION
Front
Marketing Mix
Back
A set of controllable factors, commonly known as the 4Ps: Product, Price, Place, and Promotion, used by a company to influence consumer purchase decisions.
7.
FLASHCARD QUESTION
Front
Mass and Niche Markets
Back
Mass markets target a broad audience with generalised products, while niche markets focus on specific segments with specialised products.
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