Unit 1: Communication and the 4 P's of Marketing

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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.


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