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Marketing

Glossary of marketing terms, important for a business student.


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There are 5 entries in the glossary.
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Term Definition
Market Leader

A company that has achieved a dominant position - either in scale (e.g., British Airways) or influence (e.g., Virgin) - within its field. This leading position often comes about because the company was the first to market a certain type of product and, with the protection of a patent, has managed to consolidate its position before direct competition was possible. Alternatively, a company may overtake a previous market leader through greater efficiency and skilful positioning.

 
Market Position

A measure of the position of a company or product on a market. Defined as market share multiplied by share of mind.

 
Market Segment

A group of customers who (a) share the same needs and values, (b) can be expected to respond in much the same way to a company's offering, and (c) command enough purchasing power to be of strategic importance to the company.

 
Market Share

A company's share of total sales of a given category of product on a given market. Can be expressed either in terms of volume (how many units sold) or value (the worth of units sold).

 
Marketer-Marketers

The person, who is responsible to take care about marketing activities of the organization. The activity inincludes marketing strategy building and implementation.

 


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