Thursday, September 13, 2012

Marketing Glossary

Consumer durables Consumer durables have low volume but high unit value. Consumer durables are often further divided into White goods (e.g. fridgefreezers; cookers; dishwashers; microwaves) and Brown goods (e.g. DVD players; games consoles; personal computers)

Consumer markets Consumer markets are the markets for products and services bought by individuals for their own or family use

Continuous market research Continuous research involves interviewing the same sample of people, repeatedly

Contribution  Contribution per unit can be defined as selling price less variable costs. Overall contribution is the difference between total sales revenues and variable costs

Core product  The set of problem-solving or need-meeting benefits that customers are buying when they purchase a product. Customers are rarely prepared to pay a premium for these elements of a product.