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Customer: consumes products and has the ability to choose between different

products and suppliers


Customer service: All interactions between a customer and a product provider at the time of sale, and
thereafter. Customer service adds value to a product and builds enduring relationship.

Raport a positive or close relationship between people that often involves mutual trust,
understanding and attention. Those that develop rapport often have realized that they have
similar interests, values, knowledge or behaviors.
Domestic market the part of a nation's market located within that nation.
Niche market a term used to describe a specialized segment of a particular market.
Growing market a market where sales are increasing rapidly.

Retailer a person who runs a retail business, selling goods direct to the public.
Wholesaler a distributor or middleman who sells mainly to retailers and institutions, rather
than consumers.
Homogeneous When items or entities in a group are similar.
Heterogeneous When items or entities in a group are different
Product= A good or service that most closely meets the requirements of a
particular market and yields enough profit to justify its continued existence.
Brand = Unique design, sign, symbol, words, or a combination of these, employed in
creating an image that identifies a product and differentiates it from its competitors.
Brand awareness= Extent to which a brand is recognized by potential customers,
and is correctly associated with a particular product.
Branding = The process involved in creating a unique name and image for
a product in the consumers' mind, mainly through advertising campaigns with
a consistent theme.
Brand equity= A brand's power derived from the goodwill and name recognition that it
has earned over time, which translates into higher sales volume and higher profit
margins against competing brands.
Brand identity= The visible elements of a brand (such as colors, design, logotype,
name, symbol) that together identify and distinguish the brand in the consumers'
mind.
Brand image= The impression in the consumers' mind of
a brand's total personality (real and imaginary qualities and shortcomings).
Brand loyalty = The extent of the faithfulness of consumers to a particular brand,
expressed through their repeat purchases, irrespective of
the marketing pressure generated by the competing brands.
Brand name= Word(s) that identify not only a product but also
its manufacturer or producer, such as Apple, Coca Cola, IBM, Mercedes, Shell, Sony,
Toyota.
Off-brand= a brand or name that is unrecognized or relatively unfamiliar.
Licensed/manufacturers/own brand= The leasing of a brand name to a company other
than the owner of that particular brand. As an example, a beer company located in
Europe could lease its brand name to an American brewer.
Brand positioning/repositioning= a company's decision about how
a product is marketed in relation to its otherproducts, and to competitors' products

Luxury brand= Luxury brands are regarded as images in the minds of consumers
that comprise associations about a high level of price, quality, aesthetics, rarity,
extraordinariness and a high degree of non-functional associations.
Standards of service accessibility, delivery time, response time

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