higher business - marketing

Market Led

A business approach that develops products based on customer wants.

Product Led

A business strategy where a company creates products it believes customers will want and attempts to convince them to buy.

Desk Research

Research that involves analyzing information that has already been gathered.

Field Research

Gathering brand new information suitable for the business’s exact needs.

Product Life Cycle - Introduction Stage

The product is launched with slow sales as customers are unsure.

Product Life Cycle - Growth Stage

Sales rise rapidly as customers become aware of the product.

Stars (Boston Matrix)

Products that have a high market share in a high-growth market.

Cash Cows (Boston Matrix)

Products with a high market share in a low-growth market.

Question Marks (Boston Matrix)

Products with a low market share in a high growth potential market.

Dogs (Boston Matrix)

Products with a low market share in a low growth market.

Trade Credit

A method where manufacturers offer retailers credit to pay for goods at a later date.

Cost Plus Pricing Strategy

Setting the selling price by adding a percentage markup to the unit cost.

Skimming Pricing Strategy

Setting a high initial price that decreases over time.

Penetration Pricing Strategy

Setting an initially low price that increases over time.

Loss Leader Pricing Strategy

Setting a product price unprofitably low to attract customers.

Advantages of Apps in Marketing

Apps can target promotions based on user preferences, enhance user experience, and integrate e-commerce.