Unit 7

Question	Answer
PEST?	Analysis of the business environment; stands for political, economic, social and technological factors
marketing mix?	another name for the well-known four "P"s.; product, price, place and promotion
Whats the total product offer	a term used by marketers to reinforce the diversity of elements that make up a product, eg value-for-money, brand name, image
secondary data?	information that is already available, eg company's sales figures or reports from governments
primary data?	data which is collected for the first time, can either be quantitative or qualitative information
Ethnography?	= Völkerkunde: studying people's behaviour in natural environments
What's a focus group?	a small group of consumers who sit in a room and discuss a variety of pre-defined topics. a way of collecting primary data
B2B B2C B2G	industrial products; consumer products; products for use in hospitals, schools, for example
cost-based pricing?	add a specific percentage ( = markup) to the base cost to give the selling price
breakeven analysis?	determining the minimum sales volume that covers all the costs. from then on, the product starts to make profits
profitability?	maximizing revenue and minimizing costs
market share?	your percentage of the market
product line?	group of related products that are physically similar or intended for the same market
expense items?	= Aufwandsposten
product life cycle	stages a product passes in its "life"; consists of introduction, growth, maturity, and decline
USP	unique selling point; something that makes a product special or different from others
Quotation	= Offerte, Kostenvoranschlag: a fixed price that someone will charge you, often showing different items in detail
inflated	überhöht, aufgeblasen
to corner	in die Enge treiben

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	Created by Sonam Bhuka over 6 years ago