Flashcards
Commerce Terms Flash Cards
Flashcards do conjunto (34)
- 1WantsLuxury or Non-essential goods or services
- 2Customer Loyalty ProgramStrategies used by retailers to reward customers for making regular purchases from their business.
- 3Collective WantsGoods and services provided for the community by the government.
- 4ConsumerAnyone who buys a good or service
- 5ContractAn agreement(either written or spoken) between two parties e.g. buyer and seller
- 6Comparison marketingThe process of comparing the price and quality of similar products before making a purchasing decision
- 7GoodAn item that it tangible. it can be seen or touched
- 8NeedsA good essential to our survivial
- 9ServiceAn intangible good that is provided by an individual or organisation
- 10Complementary GoodA good that is usually consumed with another good- car and petrol
- 11Disposable IncomeA person's income after the tax has been deducted
- 12Gross incomeA person's income before their tax has been deducted
- 13Hire purchaseAn agreements that enables a customer for a purchase in instalments over a period of time
- 14Durable goodA good that will last for a l,ong time
- 15Impulse buyingThe unplanned purchase of a good or service
- 16Non-durable goodA good that is purchased frequently and has a small lifespan
- 17SubstituteA good that can be purchased in alternative to another good
- 18WarrantyAn agreement that outlines the conditions under which a customer is entitled to have a good repaired or replaced
- 19AdvertisingThe promotion of a good or service in order to increase sales or profit or to inform the public of their product
- 20Direct marketingContacting households personally, by name via business like phone calls or letters
- 21EthicalRelating to ethics, which are a set of morals that help govern human conduct
- 22Guerrilla Marketinga flexible, non-traditional way of marketing
- 23Junk MailAdvertising flyers delivered via the letter box
- 24MarketingPromotional campaigns, including advertising, to make products known to customers
- 25Naming RightsThe right of a company to include its name in the name of a competition or sporting facility in return for the company financially supporting or sponsoring the event or venue.
- 26Product EndorsementThe use of sporting stars and media personalities to promote a good or service
- 27Product PlacementThe prominent display of products in movies or tv shows
- 28SponsorshipBrand strengthening via the funding of elite sport stars
- 29TelemarketingThe promotion of goods or services via the telephone
- 30Market ResearchThe gathering of information about the needs and desires of potential customers
- 31Mass marketingPromotional campaigns targeting a large proportion of the population
- 32Niche MarketingPromotional campaigns which target small groups of the population
- 33Self-RegulationEthical standards and complaint resolution procedures put into place and maintained by an industry group
- 34Target MarketingA specific demographic or social group to which an advertiser wishes to appeal