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Marketing

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Updated 2007-04-29 22:23

Terms

TermDefinition
brand namename given to a product or service that is intended to distinguish it from other similar products
clearance saleused to cleas goods that stores no longer wish to carry in stock
comparison shoppingcomparing the price, quality, and size of products
convienience storestore that is small and comprises the sale of food items, accessories, with a convienient location and open many hours
discount storeenterprise that reduces prices on products due to volume
factory outlet storebecoming more popular. Sells high quality at low prices because it's owned by the factory
full service storesoffer a wide variety of goods. Emphasizes customer service
impulse buyingopposite of spending time and thought on buying
promotional salebusinesses promote the sale of their regular product by making temporary price reductions
specialty storesstores that have a special line of products for sale
supermarketlarge full service store
unit priceprice per unit of measure
warehouse marketa no-frills food outlet emphasizing large quantities at reasonable prices
consumera person who buys or uses goods or services
gradean indication of the quality or size of a product
labela written statement attached to a product giving information about it
opportunity costthe value of any alternative that you give up when you make another choice
memorize