Marketing Fundamentals

The sale of goods to general public rather than shops & other businesses is called retail sales.

When a market no longer generates new demand for a company's products due to competition, obsolescence, etc., the situation is called market saturation.

Penetration pricing is the practice of offering a low price for a new product or service during its initial offering in order to attract customers away from competitors. So, quantity of a product being made available at a lower price is an example of penetrative price.

Introduction of a single product under a single marketing programme to cover all possible customers is known as market aggregation.

The percentage of sales of a product in a specific marketing technique for a specific period is known as market share.

Customer's response to the markets and marketing in general is known as consumer behaviour.

The text matter in an advertisement is called a body copy.

Using a network of partners to market an internet based company, in which company gives rewards for every customer directed to it, is known as affiliate marketing.

Dividing a broad market into subsets of consumers who have common needs is called segmentation.