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B2B (Business-to-Business)

ksavinda — 2024-09-13 19:07:39 UTC

Transactions between businesses

Our company focuses on B2B solutions for manufacturing firms

B2C (Business-to-Consumer)

ksavinda — 2024-09-13 19:08:53 UTC

Transactions between businesses and consumers

Amazon is a popular platform for B2C sales.

ERP (Enterprise Resource Planning)

ksavinda — 2024-09-13 19:10:16 UTC

Software for managing business processes

The company implemented an ERP system to streamline operations

BOM (Bill of Materials)

ksavinda — 2024-09-13 19:11:13 UTC

A list of raw materials needed to manufacture a product

The BOM for this product includes steel, plastic, and screws.

Technology Intensive Product

ksavinda — 2024-09-13 19:13:20 UTC

A product that requires advanced technology for development

Smartphones are a technology-intensive product due to the innovation involved.

Customer Value

ksavinda — 2024-09-13 19:14:34 UTC

The benefit that a product provides to a customer.

The customer value of our service is based on its ability to save time.

Customer Perceived Value

ksavinda — 2024-09-13 19:15:46 UTC

The customer's evaluation of the worth of a product.

The customer perceived value of the luxury watch justifies its high price.

Monetary Value

ksavinda — 2024-09-13 19:16:52 UTC

The financial worth of something.

The monetary value of the software is around $50,000.

Payback Period

ksavinda — 2024-09-13 19:17:56 UTC

Time taken to recover the cost of an investment.

The payback period for our solar panels is 5 years.

Competitive Advantage

ksavinda — 2024-09-13 19:19:37 UTC

A condition that gives a company an edge over its competitors.

Our patented technology provides us with a significant competitive advantage.

Monopolistic Competition

ksavinda — 2024-09-13 19:20:33 UTC

A market structure where many companies sell similar but not identical products.

In monopolistic competition, firms differentiate their products through branding.

Oligopolistic Competition

ksavinda — 2024-09-13 19:21:27 UTC

A market dominated by a small number of large companies.

The telecom industry often operates under oligopolistic competition.

Differentiation

ksavinda — 2024-09-13 19:24:01 UTC

Making a product distinct from competitors.

Our product differentiation strategy focuses on superior customer service.

Derived Demand

ksavinda — 2024-09-13 19:25:07 UTC

Demand for a product that arises from the demand for another product.

The derived demand for steel increases when car production goes up.

Price Elastic

ksavinda — 2024-09-13 19:26:01 UTC

When a product’s demand changes significantly with price changes.

The demand for luxury goods is usually price elastic.

Technically Complicated Tailoring

ksavinda — 2024-09-13 19:27:06 UTC

The process of customizing products with complex technical specifications.

The company specializes in technically complicated tailoring of industrial machines.

Reciprocity

ksavinda — 2024-09-13 19:29:04 UTC

Mutual exchange in business relationships.

The principle of reciprocity drives many of our long-term business partnerships.

Saturated

ksavinda — 2024-09-13 19:30:27 UTC

When a market is fully supplied, and demand cannot grow.

The smartphone market is saturated, making it hard to introduce new models.

Purchasing Behaviour

ksavinda — 2024-09-13 19:33:00 UTC

The decision process of buying products or services

Understanding consumer purchasing behaviour is key to improving sales

Consolidation Trend

ksavinda — 2024-09-13 19:34:19 UTC

A tendency for companies to merge or acquire others to grow larger.

The consolidation trend in the industry is reducing competition

BIM (Building Information Model)

ksavinda — 2024-09-13 19:36:43 UTC

A digital representation of a building's physical and functional characteristics.

The architect used BIM to create a detailed model of the new office tower.

SEO (Search Engine Optimization)

ksavinda — 2024-09-13 19:55:23 UTC

Techniques used to improve a website’s visibility on search engines.

SEO efforts have increased our website's traffic by 40%.

RFQ (Request for Quotation)

ksavinda — 2024-09-13 19:56:30 UTC

A document sent by a company to suppliers to ask for pricing information.

We issued a RFQ to several vendors for the new machinery.

Positioning

ksavinda — 2024-09-13 19:57:42 UTC

Creating a specific image or identity for a product in the consumer's mind.

We are positioning our brand as the most eco-friendly option in the market.

Value Proposition

ksavinda — 2024-09-13 19:58:52 UTC

A statement explaining the benefit of a product or service to customers.

Our value proposition highlights our product's ability to increase efficiency by 30%.

Heterogeneous

ksavinda — 2024-09-13 19:59:57 UTC

Consisting of different or diverse parts.

The market is heterogeneous, with varied consumer preferences across regions.

Target Marketing

ksavinda — 2024-09-13 20:00:43 UTC

Focusing marketing efforts on a specific group of consumers.

We use target marketing to reach young professionals in urban areas.

Homogeneous

ksavinda — 2024-09-13 20:01:39 UTC

Uniform or similar in nature.

The product was marketed to a homogeneous group of customers with similar needs.

Batch Production

ksavinda — 2024-09-13 20:02:56 UTC

Producing goods in groups or batches.

Batch production allows us to meet seasonal demand efficiently.

Segmentation

ksavinda — 2024-09-13 20:03:52 UTC

Dividing a market into distinct groups based on different criteria.

Market segmentation allows us to tailor our products for different customer groups.

Introvert Specialist

ksavinda — 2024-09-13 20:05:48 UTC

A person who is introverted but highly skilled in a specific field.

Our introvert specialist prefers working alone to solve complex problems