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market
sākt mācīties
all the potential customers share a particular need or want
marketing
sākt mācīties
the process of developing, pricing, distributing and promoting the goods or services that satisfy such needs
marketing combines 6
sākt mācīties
research, product development, distribution, advertising, promotion, product improvement
6 P
sākt mācīties
product, price, promotion, place, packaging, ppl
market leader
sākt mācīties
firm with a much larger market share than its competitors
market challenger
sākt mācīties
a company that number two in an industry, but which would like to become nr1
market follower
sākt mācīties
a smaller company in an industry, more or less content with its existing market share
market nichers
sākt mācīties
small, specialised companies, which target segments within segments
monopoly
sākt mācīties
a market in which one single producer can fix an artifically high price
oligopoly
sākt mācīties
a market dominated by a few large suppliers and which it is hard for new companies to break into
cartel
sākt mācīties
a group of companies which chose to collaborate by sharing out markets, co-ordinating their prices and so on
dominant-firm oligopoly
sākt mācīties
a situation in which the market leader can determine the price that its competitors can charge
natural monopoly
sākt mācīties
a market in which it is normal to have only one supplier -e.g. utilities such as water and sewage
differential advantage
sākt mācīties
a feature that makes you stand out
selling point
sākt mācīties
feature which makes your product sell well
point of sale
sākt mācīties
place where we sale
market driven economy
sākt mācīties
an economy controlled by market forces rather than by government action
price skimming
sākt mācīties
a product pricing strategy by which firm charges the highest initial price that customers will pay
product life cycle
sākt mācīties
introduction, growth, maturity, decline
economies of scale
sākt mācīties
a proportionate saving in costs gained by an increased level of production
market penetration strategy
sākt mācīties
selling the product at as low a price as possible in order to attain a large market share
product recall
sākt mācīties
request from a manufacturer to return a product after the discovery or safety issues
undercover marketing
sākt mācīties
marketing in which customers do not realize they are being marketed to
e-marketing
sākt mācīties
using electronic media like email or SMS to promote products
direct marketing
sākt mācīties
promoting products to target customers, eg through addressed mail
product placement
sākt mācīties
putting products or references to product in media like films
viral marketing
sākt mācīties
marketing that spreads from consumer to consumer, often online
advertising
sākt mācīties
persuading ppl to buy a product or service by announcing it on eg TV
4 C
sākt mācīties
customer solution, cost, convienience, communication
mix coherency
sākt mācīties
refers to how well the components of the mix are blended together
mix dynamics
sākt mācīties
refers to how the mix is adapted to a changing business environment
determining market segmentation
sākt mācīties
is about adapting the marketing mix to different customer subgroups

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