English Test
English Test
English Test
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Lernkarten
products sold to other countries?
exported goods
property: buildings such as offices, houses, flats?
real estate
work done in return for money?
labour
to move your factories to another region or country?
to delocalize
to use other companies to do work your yompany previously did itselt?
to outsource
why do companies product mixes regulary change?
Because both customers’ needs and the market change, and because the company’s products are at different stages of their life cycles, including some in the decline stage.
why do companies brand their products?
In order to distinguish them from competitors’ products
What is the difference between corporate branding and individual branding?
Corporate branding means including the company’s name in all
its products, while individual branding means giving each product
its own brand name
Why do the big soap powder producers habe a multi brand strategy?
Because this allows them to occupy more space on supermarket
shelves, and in this way get more sales and a bigger market share
why can the market value of companies be much higher then the value of their tangible assets?
Because of the value of their brands, and the future sales these
brands bring
places of business for selling goods to cusomers?
outlets
all the different products, brands and items that a company sells?
product mix
busisesses that sell gossds or merchandise to individual consumers?
retailers
a graphic image or symbol specially created to identify a company or a product?
logo
wrappers and containers used to enclose and protect a product?
packaging
the extent to which consumers are aware of a brand and know its name
brand reconigition
surfac es in a store on which goods are displayed?
shelves
the sales of a company expressed as a percentage of total sales in a given market?
market share
consumers who buy verious competing products rather then being loyal to a particular brand?
brand switchers
what does high frequency mean?
High-frequency: a lot of potential customers walking past the store
Why did they give their bars and products english names?
Because the product originated in an English speaking country (and is perhaps associated in customers’ minds with warm climates like California and Australia)
all the companies or individuals (middlemen) involved in moving goods or services from producers to consumers?
distribution channel
an intermeditary that stocks manufactures goods or merchandise and sells it to retailers and professional buyers?
wholesaler
dividing a market into distrinct groups of buyers who have different requirements or buying habits?
market sementation
making a product (appear to be) different from similar products offered by other sellers, by product differences, advertising, packaging etc?
product differentation
possibilities of filling unsarisfied needs in sectors in which a company can profitably produce goods or services?
market opportunities
setting a high price for a new product to make macimum revenue before competing products appear on the market
market skimming
someone who contracts existing and potential customers and tries to persuade them ro buy goods or services?
sales representatives
the attributes or characteristics of a product such as size shape quality price reliabikity?
product fearures
to extent to which supply or demand (the quantity produced or bought) of a product responds to changes of prices
price elasticity
the strategy of setting a low price to try to sell a large volume and increase market share?
market penetration
under what circumstances would manufacrurers either set prices that try to maximize profits or deliberately change a low price?
early adopters apple i phone
give examples of products for which demand is elastic and which you woud only buy if the price went domn?
books (can use the library)
which products are for you not price sensitive so thet you would buy them even if the price increased dignificantly?
Train ticket, food items (inelastic pricing)
if you see a price that is a little less than a round numer 1.99 does it makes you think of lowerr numer?
Psychological pricing strategy is proven
when as a consumer have you benefited from a price war when competitors continually lowered prices trying to get more business? what kind of companies win price wars?
market leaders
according to mc kenna what did sales driven companies try to do?
Change customers’ minds and make them buy the products they produced.
why dind some companies become customer driven?
Because there was more competition and because technology developed and allowed companies to change products to match what customers asked for.
what does he say market driven companies do?
Market-driven companies work with customers to understand their strategies, and adapt their products to fit them, and in this way try to create a new market.
what does mc kenna mean when he describes the old approach as unresponsive?
The old approach is all about testing and marketing a company’s ideas rather than responding to a demand that comes from customers.
