MARKETING TERMS : Learn 5 each day Bid Pricing A process for setting the initial price for a product, mainly found in government and business markets where multiple sellers compete for a large purchase, that requires the marketer to set price without direct knowledge of competitors’ pricing since, in most situations, prices are not made known until a purchase is awarded. Boutique Retail format represented by a small service-oriented outlet carrying very specialized and often high-end, high priced merchandise. Brainstorming A group discussion market research technique that encourages creative thinking and group interaction to help stimulate idea generation. Brand Licensing Contractual arrangement whereby a marketer owning a brand name negotiates (for fee or percent of sales) with other. companies to allow these companies to produce and supply products carrying the marketers brand name. Brand Loyal (also Brand Loyalty) Description given to customers who frequently and enthusiastically purchase a particular brand and are less likely to be enticed to switch to other brands compared to non-loyal customers. #gklive
Posted on: Wed, 14 Jan 2015 09:30:00 +0000