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A named product which customers sess as being different form other products.
A product made by a number of different businesses in which customers see now difference between the product of one business compared to the product of another business.
A product sold under the name of a supermarket rather than the name of the manufacturer
A price which is above the average for products of a particular type.
Making one product different from another e.g. through quality, design, packaging etc.
The combination of products a business sells like soap powders, cosmetics and medicines.
A group of similar products sold by a business like different soap powders.
Competition based pricing
Setting a price similar to competitors.
Cost plus pricing
Adding a percentage profit margin to the cost of production of a good or service.
Creaming or skimming
Selling a product at a high price (often a new product) to get high profits initially.
The percentage added to the cost of production which equals the profit on the product (also called profit margin)
Setting an initial price which is low to attract customers and try and gain market share.
Setting a different price for the same product in different market segments e.g. peak and off-peak rail travel.
How much of a product that will be a bought at any given price
How much producers of a product will sell at any given price
The price at which supply equals demand.
A business which specialises in organising the promotion of other businesses.
Advertising leaflets sent to potential customers through the post.
Promotion of a product where it is sold e.g. special displays next to til areas.
Promotion of a positive image of an product or business through launches, stunts etc. - trying to get other people particularly newspapers to talk positively about your product.
Promotion using media methods e.g. TV and newspaper advertising - aimed at a mass audience.
Promotional activities focused on particular groups to try and develop awareness e.g. sales promotions, sponsorship, PR stunts etc.
Marketing activities aimed at giving a short run boost to sales e.g. buy one get one free (BOGOF), money off, competitions, free gifts, loyalty cards etc.
Channel of distribution
The path taken to get products form the manufacturer or service provider to the customer.
A business which buys in bulk from a manufacturer and then sells the stock on in smaller quantities to retailers.
Selling via the Internet - this has increased massively in recent years.
Impulse purchases that result form passersby popping into shops
Constraints on marketing
Legal restriction on marketing e.g. the Trade Descriptions Act which limit what firms can say or do e.g. in adverts.