Marketing – basic terms – definitions
all the companies or individuals (‘middlemen’) involved in moving goods or services from producers to consumers
an intermediary that stocks manufacturers’ goods or merchandise, and sells it to retailers and professional buyers
dividing a market into distinct groups of buyers who have different requirements or buying habits
making a product (appear to be) different from similar products offered by other sellers, by product differences, advertising, packaging, etc.
setting a high price for a new product, to make maximum revenue before competing products appear on the market
someone who contacts existing and potential customers, and tries to persuade them to buy goods or services
the attributes or characteristics of a product, such as size, shape, quality, price, reliability, etc.
the extent to which supply or demand (the quantity produced or bought) of a product responds to changes of price
the strategy of setting a low price to try to sell a large volume and increase market share
possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services