Differentiation A marketing strategy aimed at ensuring that products and services have a unique element to allow them to stand out from the rest. Direct Marketing When businesses and non-profit organizations market their products, services or causes directly to consumers based on consumer interests. Examples include catalogues and other postal mailings, telemarketing, text messages, emails, ads on a mobile device and internet advertising
Distribution Channel The network of organisations necessary to distribute goods or services from the manufacturers to the consumers; the distribution channel therefore potentially consists of manufacturers, distributors wholesalers, retailers and E-tailers. Diversify A company, increases the range of goods or services it produces and sells
E-Commerce The use of technologies such as the Internet, electronic data exchange and industry extranets to streamline business transactions. Economy of Scale A reduction in costs through larger operating units, spreading fixed costs over large numbers of items/units. External Environment The conditions and forces that dene a firm's competitive position and influences its strategic options. Also, called Competitive Environment.
Fast-Moving Consumer Goods (FMCG) Fast-moving consumer goods are those that sell in high volumes, with low unit value, and have fast consumer repurchase. Examples include, soaps, toothpastes, hair oils, jams, ketchups, packed juices, ready meals, baked beans, etc. Forecasting The process of estimating future demands by anticipating what buyers are likely to do under a given set of marketing conditions. For example: Economic confidence, disposa income, pricing levels, etc.
Innovators Innovators are those who adopt new products first. They are usually relatively young, lively, intelligent, socially and geographically mobile. They are often of a high socioeconomic group.