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Definition
A brand's power derived from the goodwill and namerecognition that it has earned over time, which translates into higher sales volume and higher profit margins againstcompeting brands.
price floor
A price floor is a government- or group-imposed limit on how low a price can be charged for a [1] product. For a price floor to be effective, it must be greater than the equilibrium price.
Price Ceilings
If the price ceiling is above the market price, then there is no direct effect. If the price ceiling is set below the market price, then a "shortage" is created; the quantity demanded will exceed the quantity supplied. The shortage may be resolved in many ways. One way is "queuing"; people have to wait in line for the product, and only those willing to wait in line for the product will actually get it. Sellers might provide the product only to family and friends, or those willing to pay extra "under the table". Another effect may be that sellers will lower the quality of the good sold. "Black markets" tend to be created by price ceilings.
Product position Product position refers to what the consumer thinks of your product (e.g. lowest price, best service,freshest produce, certified residue free, easy access, etc.) when they are making a purchase decision. A concept often related to product position but different is niche marketing. Large retailers like WalMart, Best, and Target have taken a product position of low prices, but none of these are niche marketer
Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. It is a temporal version of price discrimination/yield management. It allows the firm to recover its sunk costs quickly before competition steps in and lowers themarket price.
customer value:
It is defined as the difference between what a customer gets from a product, and what he or she has to give in order to get it. It helps people and companies unlock their inner creative power and achieve amazing results. Relative performance identifies how the product or service gives customer value relative to what competitors offer. In order to generate more thought about customer value, and to reach out to a customer base, a business might promote a customer value proposition. The customer value proposition is basically a promise of benefits from a vendor to customers.
demarketing
Definition
Efforts aimed at discouraging (not destroying) the demandfor a product which (1) a firm cannot supply in large-enough quantities, or (2) does not want to supply in a certain region where the high costs of distribution orpromotion allow only a too little profit margin. Commondemarketing strategies include higher prices, scaleddownadvertising, and productivity.
MARKETING AUDIT
Strategic tool used to review the effectiveness of a marketing program. A marketing audit is a comprehensive, systematic, periodic evaluation of a company's marketing capabilities. The audit examines the goals, policies, and strategies of the marketing function as well as the methods of the organization and the personnel who carry out the goals, policies, and strategies of the marketing function.
MARKETING INTERMEDIARIES
A business firm that operates between producers and consumers or business users, also called a middleman. May be a wholesaler, retailer, or facilitating intermediary.
Value chain
The value chain, is a concept from business management that was first described and popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.[1]
product line
Definition
A set of related products sold by a single company.