Word of Mouth Marketing
Word of mouth marketing is a communication model in which individuals communicate with each other about a product or service using informal channels. These channels include personal conversations, referrals from …
Word of mouth marketing is a communication model in which individuals communicate with each other about a product or service using informal channels. These channels include personal conversations, referrals from …
Word of mouth (WOM) refers to the transmission of information orally from one person to another. WOM can take a variety of forms, such as conversations with friends and family, …
A wine label in marketing can be used to create a unique selling proposition (USP) for the wine. The label can also be used to communicate the characteristics of the …
Window shopping is a term used in marketing to describe the act of looking at different products or services without committing to anything. This allows retailers to assess a customer’s …
There is an increasing willingness to pay for goods and services that are of high quality. This is due in part to the growing economy, as well as the increased …
A whole product is a product that can be used by customers to satisfy their needs. A whole product is composed of many individual parts that work together to provide …
White labeling is the process of creating a product or service that is different from the original, but still includes the same branding. This can be done by adding new …
Wet markets are important in marketing because they provide a low-cost way to get fresh produce. They are also a place where people can buy products that have not been …
Web marketing is the practice of creating, delivering, and managing digital marketing campaigns that use the internet to reach and engage customers. It encompasses a wide range of activities, including …
Warranty in marketing refers to a guarantee or promise by the manufacturer of a product that it will meet certain performance or quality standards. This promise is typically made in …
Warehouse stores are used to store items that are not being used by the company. This can be things like furniture, which is not being used in the current business, …
A warehouse club refers to a type of retail organization that specializes in the delivery of goods to customers’ homes. These clubs typically operate on a membership basis, with customers …
Visual merchandising (VM) is a marketing strategy employed to attract and engage customers in a retail setting. VM is composed of the design, creation, and positioning of product displays and …
Visual marketing is a term used to describe the use of visuals in marketing. Visuals can be anything from a simple graphic to an elaborate advertisement. They can be used …
A virtual customer environment refers to the ability of a company to create a virtual world where customers can interact with company representatives, and make purchasing decisions. This allows the …
Viral marketing is a marketing strategy that uses viral content to spread the word about a product or brand. Viral content is anything that can be shared online, such as …
Vertical integration is a business strategy where one company acquires control of the entire production process from raw materials to finished goods. This type of integration can be beneficial to …
Vendor lock-in can happen when a customer is reliant on a particular vendor for a critical product or service. This can create problems if the vendor discontinues this product or …
A vending machine in marketing is a device that allows consumers to purchase products, such as snacks and drinks, using cash or tokens. Vendors use these machines to increase sales …
Variety store is a marketing term that refers to the various channels through which a brand can be delivered to customers. It can include in-store displays, catalogs, online presence, and …
Variable pricing and real-time pricing are two methods of pricing goods and services. Variable pricing sets a price based on the quantity demanded, whereas real-time pricing sets a price at …
Variable pricing is a pricing strategy where the price of a good or service is different depending on the quantity purchased. This can be done in a variety of ways, …
Value-in-use is a concept in marketing that refers to how a product or service is actualized or realized in the marketplace. It encompasses not only the tangible features of a …
Value-based pricing (VBP) is a pricing strategy that uses the value of a good or service to set prices. VBP is different from price fixing and other anti-competitive behavior in …
A value proposition is a statement about the benefits that a product or service can provide to its customers. In marketing, a value proposition is one of the key factors …
Value-based purchasing (VBP) is a methodology used in marketing to establish prices for products and services that reflect their value to the customer. This is done by identifying what the …
Value pricing is a pricing method that assigns a higher price to products or services with higher values, relative to those with lower values. The rationale for this approach is …
Value migration is a term used in marketing to describe the phenomenon where consumers or market segments move their spending away from a lower-valued product or service and towards a …
A value chain is the series of steps that a company takes to produce and distribute its products. The steps in a value chain can be divided into upstream (production) …
Utility in marketing refers to the extent to which a good or service is useful to the consumer. It can be broken down into three main factors: perceived usefulness, actual …
Unit price is a pricing strategy used in marketing where the selling price of a product or service is fixed at one specific price per unit. The rationale for using …
A Unique Selling Proposition (USP) is the primary reason a company exists, and what differentiates it from its competitors. It is the main reason someone would choose to do business …
Undercover marketing is a type of marketing that uses secret tactics to market products or services. This type of marketing is often used by businesses to gain an advantage over …
Retail outlet types and shopping precincts have been traditionally classified into three categories: hypermarkets, supermarkets, and convenience stores. However, the way people shop has changed over the years and new …
There are various types of marketing communication, which can be broadly grouped into three categories: internal marketing, external marketing, and communication channels. Internal marketing refers to communication between companies within …
Two-part pricing is a pricing strategy used in marketing, in which a product or service is offered in two or more price levels. The first price level is lower than …
Tariffs are taxes on imports or exports. When a country sets a tariff, it means that it charges a higher price for imported goods than for exported goods. A two-part …
Trust-based marketing is a marketing strategy that builds trust between the company and its customers. It focuses on creating a relationship of trust with the customer, in order to elicit …
Transfer pricing is the pricing of goods and services between companies. It refers to the way in which costs are allocated between different parts of a company. This is often …
Marketing transactions are the exchanges of goods and services between firms. Transactions are mediated by channels such as advertising, direct selling, and franchising. Transactions can be classified according to their …