Marketing │ Important Vocabulary │ BBA Notes │ Business Communication │ 3rd Semester │ TU

Marketing



Important Vocabulary


  • Distribution channel: All the companies or individuals involved in moving a particular good or service from the producer to the consumer
  • Product concept: An idea for a new product, which is tested with target consumers before the actual product is developed
  • Product features: Attributes or characteristics of a product; quality, price, reliability, etc.
  • Market segmentation: Dividing a market into distinct groups of buyers who have different requirements or buying habits
  • Points of sale: Places where goods are sold to the public - shops, stores, kiosks, market stalls, etc.
  • Market opportunities: Possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services
  • Sales representative: Someone who contacts existing and potential customers, and tries to persuade them to buy goods or services
  • Market research: Collecting, analyzing, and reporting data relevant to a specific marketing situation (such as a proposed new product)
  • To launch a product: To introduce a new product onto the market
  • Packaging: Wrappers and containers in which products are sold




Completing the Definition of Marketing by Inserting the Given Verbs in the Gaps


[ design | develop | identify | influence | modify | persuade ]

Marketers have to identify or anticipate a consumer need; develop a product or service that meets the need better than any competing products or services; persuade target customers to try the product or service; and, in the long term, modify it to satisfy changes in consumer needs or market conditions.

Marketers can design particular features, attractive packaging, and effective advertising, that will influence consumer's wants. Marketing thus begins long before the product or service is put on the market; it combines market research, new product development, distribution, advertising, promotion, product improvement, and so on.


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Extracted From:

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (Second). Cambridge University Press.



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