Card 121
Question
Product features
Answer
All the attributes or characteristics of a product such as size, price, quality
Fachsprache II
Discover Fachsprache II: 128 flashcards with questions and answers.
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Cards in this set
Card 122
Question
Price elasticity
Answer
The extent to which supply or demand of a product reacts to changes of price
Card 123
Question
Market penetration
Answer
The strategy of setting a low price to try to sell a large volume and increase market share
Card 124
Question
Price-sensitive products
Answer
Products you would not buy if the price increased significantly
Card 125
Question
Psychological pricing
Answer
Choosing a price for a product that is a little less than a round number
Card 126
Question
Sales-driven company
Answer
Organization that focuses its energies on changing customers mind to fit the product
Card 127
Question
Customer-driven company
Answer
Organization that focuses its energies on changing its products to fit customer requests
Card 128
Question
Market-driven company
Answer
Organization adapting its products to fit its customers strategies- its marketing strategy is aimed at creating rather than controlling a market
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