Vocab Chapter 5-8 Entrepreneurship Year End Review

the name, symbol, or design used to identify a product

• feature

• brand

• marketing

• product mix

pricing that is determined by considering what competitors charge for the same good or service

• cost base priceing

• competition based pricing

• psychological based pricing

• demand based pricing

Cost-based pricing

• pricing determined by using the wholesale cost of an item as the basis for the price charged

• pricing that is determined by considering what competitors charge for the same good or service

• pricing strategy based on the belief that certain prices have an impact on how customers perceive a product

• pricing that is determined by how much customers are willing to pay for a product or service

creating an image for a product in the customer’s mind

• positioning

• marketing concept

• psychological pricing

• marketing strategy

Which is NOT a feature in the marketing mix

• price

• product

• promotion

• people

a distribution channel that moves the product from the manufacturer to the consumer

• direct channel

• indirect channel

routes that products and services take from the time they are produced to the time they are consumed

• channels of distribution

• physical distribution

• supply chain management

written statement meant to inform the media of an event or product

• public relations

• press release

• publicity

• visual marketing

form of intellectual property law that protects original works of authorship, including literary, dramatic, musical, and artistic works

• copyright

• patent

• trademark

• royalty

distributions of corporate profits to the shareholders

• stock

• dividends

• royalty