Business Chapter 7

The action or business of promoting and selling products or services, including market research and advertising.

• Marketing

• Direct Competition

• Indirect Competition

• Target Market

The rivalry between or among businesses that offer similar types of goods or services.

• Marketing

• Direct Competition

• Indirect Competition

• Target Market

The rivalry between or among businesses that offer dissimilar goods or services.

• Marketing

• Direct Competition

• Indirect Competition

• Target Market

A set of buyers sharing common needs or characteristics that the company decides to serve.

• Marketing

• Direct Competition

• Indirect Competition

• Target Market

The action or activity of gathering information about consumers' needs and preferences.

• Market research

• Marketing Mix

• Brand name

• Labeling

The set of tactical marketing tools - product, price, place, and promotion - that the firm blends to produce the response it wants in the target market

• Market research

• Marketing Mix

• Brand name

• Labeling

That part of a brand that can be spoken, including letters, words, and numbers.

• Market research

• Marketing Mix

• Brand name

• Labeling

The display of label in a product. A label contains information about a product on its container, packaging, or the product itself.

• Market research

• Marketing Mix

• Brand name

• Labeling

A path that a product or service could take on its way to market

• Channel of distribution

• AIDA

• Advertising

• Trademark

Attention, Interest, Desire, Action

• Channel of distribution

• AIDA

• Advertising

• Trademark