Marketing Vocabulary 4
An exercise to help you learn & pratice some common vocabulary/terms used in marketing. Choose the best response to complete each of the sentences below.
1. A ______________ market is a market which an organization/company sets its views on.
2. When describing a product's benefits, one often uses the words "tangible" ( = real), and "______________" ( = inherent).
3. Brands that have high perceived value are often included in a ______________'s consideration set. ( = buyer's consideration set)
4. To "trade off" A for B, means to gain A ______________. For example, people often trade off price for product features.
at the expense of B
as well as B
5. Bill's company was able to charge a ______________ ( = high price) in the marketplace because of their positive brand equity. ( = the value built up in a brand)
6. A product with no brand name is referred to as being ______________.
7. Our marketing manager believes that a ______________ would highlight the new redesign.
8. If a product is discontinued, it is ______________.
no longer available
9. The four P's of marketing (also known as the "marketing mix") refers to product, price, promotion and ______________ (= where the product can be bought)
10. A business "model" is, in a way, a business ______________.
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