Business English (Fach) / Marketing (Lektion)

Marketing

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• distribution channel all the companies or individuals ('middlemen') involved in moving goods or services from producers to consumers
• wholesaler an intermediary that stocks manufacturers' goods or merchandise, and sells it to retailers and professional buyers
• market segmentation dividing a market into different groups of buyers who have different requirements or buying habits
• product differentiation making a product (appear to be) different from similar products offered by other sellers, by product differences, advertising, packaging, etc
• market opportunities possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services
• market skimming e.g. IPhone setting a high price for a new product, to make maximum revenue before competing products appear on the market
• sales representative (sales rep) someone who contacts existing and potential customers, and tries to pesuade them to buy goods or services
• product features the attributes or characteristics of a product, such as size, shape, quality, price, reliability, etc
• price elasticity the extent to which supply or demand (the quantity produced or bought) of a product responds to changes of price
• market penetration the strategy of setting a low price to try to sell a large volume and increase market share
• Marketing means identifying customers, defining and developing the products or services they want, and making and distributing them
• Viral Marketing spreads like a virus, uses internet -> peers Marketing phenomenon that facilitates (erleichtert) and encourages (ermutigt) people to pass along a marketing message. e.g. Hotmail, offered a free email account to anyone who registered. Each e-mail sent by a hotmail subsriber included the simple tag at the bottom of each message: "Get your free private e-mail at hotmail.com. Hotmail spent less than 500,000 $ on marketing and within 18 months attracted 12 million subscribers.
• Word-of-mouth marketing (same as personal recommendation) Word-of-mouth marketing is when a business does something and their consumer tells five to ten friends. Word-of-mouth marketing has an echo affect. The initial sound is loud and then it fades into the background.
• Ambush Marketing sporting events, avoid sponsorship costs, free samples
• Guerrilla Marketing low budget strategy, targeted customers are unaware, misleading (irreführend) / controversial (umstritten)
• Advergaming embedded brand, uses internet-packaging
• Multi-brand strategy Marketing of two or more similar and competing products by the same firm under different and unrelated brands. While these brands eat into each others' sales (see cannibalism), multi-brand strategy does have some advantages as a means of (1) obtaining greater shelf space and leaving little for competitors' products, (2) saturating a market by filling all price and quality gaps, (3) catering to brand-switchers users who like to experiment with different brands, and (4) keeping the firm's managers on their toes by generating internal competition.  

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