Unit 1: Communication and the 4 P's of Marketing
trademark
A brand that has exclusive legal protection for both its brand name and its design
consumability
how fast you use products;
traffic
how many potential customers a business could have
body language
nonverbal communication through gestures, facial expressions, behaviors, and posture
communication barriers
obstacles to effective communication, typically defined in terms of physical, language, body language, cultural, perceptual, and organizational barriers
price
one of the four P's of marketing; the cost of a product or service a company offers
baby boomers
people born between 1946 and 1964
organizational communication
process of communication that involves individuals and groups to achieve established goals
promotion
represents the various aspects of marketing communication to get a positive customer response.
gen x
1965-1980
gen z
1995-2010
patent
(n.) exclusive rights over an invention
Communication
A process through which you send messages to and receive messages from others.
intellectual property
A product of the intellect, such as an expressed idea or concept, that has commercial value.
focus group
A small group of individuals who are led in discussion by a professional consultant in order to gather opinions on a product or issue.
place
A specific spot selected to sell merchandise
infringement
A violation of intellectual property
Non-verbal communication
Communicating without the use of words; body language
complementary business
One that sells merchandise that is related to, but not the same as, an area business's goods.
competitive business
One that sells the same or comparable merchandise.
Audience
One's listener to a presenter, email or piece of writing is addressed.
market research
The activity of gathering information about consumers' needs and preferences.
marketability
The ease with which products can be sold.
communication channels
The various ways in which a message can be sent, oral, written, electronic, non verbal
Lease
a contract granting use or occupation of property during a specified time for a specified payment
seasonal good
a good that is offered only certain times of the year
profitability
ability to provide financial rewards sufficient to attract and retain financing
customer service
assistance and advise provided by a company to help satisfy their customers' needs and wants
Millenials (Generation Y)
born between 1977 and 2000
multigenerational communication
communication between differing age groups
verbal communication
expressing ideas to others by using spoken words
copyright
the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.
price point
the price a product is sold for on the retail market.
marketing
the process for engaging a target market of consumers to ultimately sell a product for profit to meet consumers needs and want.
