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POINT-OF-SALE |
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a place where a product is sold |
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CAMPAIGN |
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planned method and period of time |
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PRICING |
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deciding how much money has to be charged for something |
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CUSTOMER |
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The person who buys something |
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DOMESTIC MARKET |
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the country where the business is situated |
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FLIER |
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a small advertising leaflet |
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GIVE-AWAY |
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a thing which is given free when another item is bought |
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IMAGE |
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the picture which people have in their minds of the product or company |
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MAILING |
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sending by post |
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NICHE |
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a special place in a market |
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PACKAGE |
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box or bag in which things are sold |
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CATALOGUE |
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a list of the company’s products |
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DISCOUNT |
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a reduction on the full price |
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TO PROMOTE / TO BOOST |
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to increase the sales of a new product |
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ADVERTISING |
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announcing that something is for sale |
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DISTRIBUTION |
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getting goods from the maker to the buyer |
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COMPETITION |
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companies who make similar products to yours |
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OVERSEAS SALES |
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In other countries |
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CANNIBALISM |
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when a product reduces sales of other products made by the same manufacturer |
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SELL-BY DATE |
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the date by which a food or drug must be sold |
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PRODUCT LIFE CYCLE |
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is the cycle that a product goes through, from development to decline. Business owners and marketers use the product life cycle to make important decisions and strategies on advertising budgets, product prices, and packaging. |
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STAGES OF PRODUCT LIFE CYCLE: |
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1. Development 2. Introduction 3. Growth 4. Maturity 5. Saturation 6. Decline |
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