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Monday, January 7, 2013

Marketing Glossary

Dogs
A term used in the Boston Group Matrix. Unsurprisingly, the term "dogs" refers to businesses or products that have low relative share in unattractive, low-growth markets. Dogs may generate enough cash to break-even, but they are rarely, if ever, worth investing in. Early adopters People who choose new products carefully and are often consulted by people from the remaining adopter categories Early majority People who adopt products just prior to the average person

E-commerce
The use of technologies such as the Internet, electronic data exchange and industry extranets to streamline business transactions

Endorsement
The promotion of some kind of product recommendation or affirmation, usually from a celebrity, implying to the potential customer that a product is good

Expansionistic pricing
Expansionistic pricing is a more exaggerated form of penetration pricing
and involves setting very low prices aimed at establishing mass markets, possibly at the expense of other suppliers. Under this strategy, the product enjoys a high price elasticity of demand so that the adoption of a low price leads to significant increases in sales volumes