definitions

• Brand name - A name given to a product by the manufacturer or by the retailer.
• Brand - A name, symbol, or design or slogan used to distinguish the goods of one seller or producer from those of other sellers or producers.
• E-comerce - Electronic commerce, also known as e-commerce, is the buying and selling of goods and services online.
• online retailing - the selling of goods and services over the internet for businesses and consumers
• market - the place where people buy and sell goods and services, or the place where people buy and sell goods and services
• marketing- process of understanding customers and finding ways to provide product of service which cuctomers demand
• Market share - the proportion of a market that a business controls, expressed as a percentage of the total market value.
• Mass market - market that its aimed at the general population, where there are similar products available.

  or

  The largest group of customers with specific needs and wants in an industry.
• Niche market - subset of the main market where customers have specific needs and wants
• consumer panel - a group of people who are asked to complete a questionnaire about their purchasing habits or information business requires
• Database - A collection of data that is stored in a computer for business use
• focus group - a small group of people who are asked to give their opinions on a product/market
• market orientation - an approach that focuses on reacting to customers needs and wants
• Market research - the process of finding out the viability of a product or service by gathering information about the needs and wants of customers
• Market segment - an identifiable group of individuals or part of a market where consumers share one ore more characteristics or needs
• market segmentation - the technique used to enable a business to better target its products at the right customers
• primary/field research - research the business conducts themselves. It involves going directly to a source to gather information
• product orientation - focus on the product and its features, benefits, and qualities and what the business can make the best
• qualitative research - research that uses descriptive methods (attitudes, opinions, benefits and intentions) to describe and explain the world.
• quantitative research - research that uses numbers to gather data and analyze it.
• respondent - the person who is being asked a question in a survey, or the person who is being observed in a study
• sampling - getting opinions from a certain number of people, chose from specific group in order to find out about whole group
• secondary/desk research - gathering data that already exists
• socioeconomic group - groups based on where they fit into society, e.g education level, personal/household income
• added value - the difference between the selling price and the cost of production, including all direct and indirect costs

  or

  way to increase the price of a product/service
• competitive advantage - an advantage over competitors, by offering consumers greater value
• market map - illustrates the range of positions that a product can take in a market based on two dimensions that are important to customers

  or

  A technique that analyses markets by looking at the features that distinguish different products or firms.
• market positioning - A technique that analyses markets by looking at the features that distinguish different products or firms.
• product differentiation - making the product unique and different from its competitors
• reposition - changing the position that the business sits or its products sit in the market
• unique selling point (USP) - a feature of a product or service that makes it stand out compared with the competition