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QR Challenge: IGCSE Marketing

QuestionAnswer
The organizations share of the value of salesMarket Share
The main elements of marketing strategies. product, price, promotion, placeMarketing Mix
When business are inward looking, and they focus on selling products they can make, not making products they can sellProduct Orientation
An approach used to develop activities aimed at changing or maintaining people's behaviour for the benefit of individuals and society as a whole.Social Marketing
Any organized effort to gather information about target markets or customers.market research
Is an attempt by marketers to lengthen the product life cycle of a particular product. Such strategies are typically used during the maturity or early decline stages of a product's life cycle.extension strategy
all costs & expenses are added to the desired profit to determine the selling price.cost plus pricing
A pricing policy whereby a firm charges a relatively low price for a product initially as a way to reach the mass marketPenetration pricing.
A pricing strategy that involves setting prices higher than those of the competition.price skimming
Refers to any form of paid for advertising through the mass media in order to reach a wide audience.above the line promotion
Routes that products and services take from the time they are produced to the time they are consumed.channels of distribution
Businesses that buy large quantities of goods from manufacturers, store the goods, and then resell them to other businesses.wholesalers
Paying an athlete or an event to have your name displayed.sponsorship
Gathering data on a market by conducting interviews and focus groups.primary research
A model that shows sales of a product over time.product life cycle

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