Glencoe Entrepreneurship: Building a Business Chapter 10 Vocabulary – Flashcards
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Marketing Plan
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A blueprint used by a business to guide its marketing activities to a desired conclusion.
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Marketing Objectives
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Goals a business wants to accomplish through its marketing efforts.
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Marketing Mix
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Made up of 5 marketing strategies you will use to reach your market.
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Brand
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Name, symbol, or design used to identify a product.
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Package
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Physical container or wrapper that holds the product.
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Label
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Part of the package used to present information.
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Product Positioning
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How consumers see your product compared to the competition's product.
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Product Mix
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All of the products a company makes or sells.
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Channel of Distribution
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The path a product takes from the producer to the final user.
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Intermediaries
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People or business that move Distribution products between producers and final users.
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Intensive Distribution
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Placement of a product in all suitable outlets.
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Selective Distribution
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Limits the number of sales outlets in a given area.
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Exclusive Distribution
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Limits the number of outlets to one per area.
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Marketing Tactics
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Activities that need to be taken to carry out the marketing plan.
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Private Brand
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Brand that is owned and initiated by a wholesaler or retailer.
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Gurantee
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An assurance of the quality of a product.
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Diversification
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Process of investing in products or businesses with which you are not currently involved.
