Last modified 8 years ago
Refers to market conditions where a certain percentage change (positive or negative) in the price of a product results in a larger and opposite percentage change in demand (i.e., purchases) for the product.
Last modified 8 years ago
Information imprinted on Final Customer Packaging and Distribution Packaging that serves many functions such as promotion, offering product details and product purchase information (e.g., contains Universal Product Code).
Last modified 8 years ago
Retail format represented by a small service-oriented outlet carrying very specialized and often high-end, high priced merchandise.
Last modified 8 years ago
Refers to conditions that describe the effect a change in a product's price may have on the target market's demand for a product and includes conditions that are elastic, inelastic or unitary.
Last modified 8 years ago
In marketing this represents a type of product that consists of tangible items (i.e., can be felt, tasted, heard, smelled or seen) that marketers offer to satisfy the needs of their customers.
Last modified 8 years ago
The fifth category within the Diffusion of Innovation consisting of a sizeable though not large percentage of a market who are primarily characterized as being reluctant to accept new products and may only do so if they have no other choice.
Last modified 8 years ago
A target marketing strategy that assumes all customers in a large market seek the same benefits and, consequently, a marketer appeals to this market with a single marketing strategy including a single product.
Last modified 8 years ago
A category within personal selling that includes salespeople who actively engage in obtaining orders from customers and includes sub-categories of New Business Development and Account Management.
Last modified 8 years ago
A type of business purchase decision that involves routine order placement that often leads to buyers buying the same product and not evaluating other product options or other brands.
Last modified 8 years ago
The fourth category within the Diffusion of Innovation consisting of up to one-third of the overall market who are primarily characterized as preferring to take a wait-and-see approach before trying something new.