Product & Marketing Concepts

Product Line Extensions

Adding new products to an existing line to reach new customers or offer more options.

Touchpoints

Interactions where customers connect with a brand, influencing customer perception and loyalty.

Wholesaling

Selling products in bulk to retailers, who then sell to consumers.

Retailing

Selling products directly to the public, usually in smaller quantities.

Discounting

Offering products at a reduced price to attract more customers or clear inventory.

Sales

Activities to promote and sell products or services to customers.

Promotion

Marketing efforts to increase awareness and encourage purchases.

Buyer’s Market

A situation where supply exceeds demand, giving buyers more power.

Seller’s Market

A situation where demand exceeds supply, giving sellers more control.

Law of Demand

Economic principle stating that as prices decrease, demand increases, and vice versa.

Law of Supply

Economic principle stating that as prices increase, the quantity supplied also increases.

Stockouts

When a product is temporarily out of stock due to high demand or supply issues.

Market Share

A company's portion of total sales in an industry, which affects its profitability.

Trends and Forecasts

Observations of changes in consumer behavior and predictions about future demand.

Market

The place or system where buyers and sellers interact to exchange goods and services.

Resource

Inputs used to produce goods or services, like materials, labor, and capital.

Data Mining

Analyzing large data sets to find patterns and insights for strategic decisions.

Meta Tags

HTML tags that provide information about a webpage’s content to search engines.

Hyperlinks

Clickable links that take users to other web pages or documents.

Discounting

Offering products at a reduced price to attract more customers or clear inventory.