Normal goods
Normal goods have a positive income elasticity of demand so as income rise more is demand at each price level
Objectives
Measurable aims of a business set for a given period (e.g. marketing objectives for the next year)
Occasion segmentation
A basis of segmenting a market based on occasions when buyers get the idea to make a purchase, actually buy, or use a purchased item.
Opportunities
Opportunities are any feature of the external environment which creates conditions that a business can exploit to its advantage. If the business is successful in exploiting opportunities, then it will be better
placed to achieve its objectives.
placed to achieve its objectives.
Own-label brand
Own-label brands are created and owned by businesses that operate in the distribution channel – often referred to as “distributors”. Often these distributors are retailers, but not exclusively. Sometimes the retailer’s entire product range will be own-label. However, more often, the distributor will mix own-label and manufacturers brands
