ENTREP - QUIZ 3

marketing

- creating and accumulating customers

- activities a company undertakes to promote the buying or selling of a product or service

positioning

- refers to a process used by marketers to create an image in the minds of a target market

- ability to influence customer perception

enterprise perspective

address the needs of the chosen target market

competitive perspective

differentiate and distinguish itself from competitors

customers perspective

way customers perceive the enterprise and its products or services in their mind

product

- any goods or service that are produced to meet the customer's wants, tastes and preferences

- tangible good or the intangible service that the enterprise offers to satisfy needs and produce results

breakthrough

- called pioneers

- innovative

differentiated

- claims a new space in the minds of the customer

- what makes a product stand out

copycat

- will not make much of an impression on the customers mind

- cheap imitation

niche

- not intended to compete directly with giants

- specific customer base and product category

packaging

the bundle of products or services that are put together to attracts and delight customers

place

- location where a buyer and a seller exchange goods

- distribution channels

personal selling

personal interface between the prospective buyer and the seller

advertising

• influences the target customers to buy the offered product

• paid media

sales promo

helps in improving the sales by influencing the the potential customer to buy the promoted products

people

- refers to your team

- consists of each person who is involved in the product

-the ultimate marketing strategy

promotion

- the explicit communication strategy adopted by the enterprise to elicit the patronage, loyalty, and support not only of its customers but also of its other significant stakeholders

- complete set of activities

price

- value of money in exchange for a product or service

- depends on the business objectives set by the enterprise

publicity

impersonal, non-paid technique

Public Relations

promotional tool responsible for developing and maintaining the brand image

word of mouth

transmitting information from one individual to the other

Online Marketing

new form of promotion

Direct Marketing

organizations directly approach prospective costumers