Answer to Question #225672 in Marketing for Victor

Question

Write short notice on the following terms/phrases used in marketing.

1:inco-terms

2: marketing efficiency

3: marketing margin

4: market demand

Answer 1

Incoterms- is a snappy and short way of saying International Comercial Terms. clarify the rules and terms sellers and buyers use in international and domestic trade contracts.

Marketing efficiency- refers to the degree to which prices reflect the available information. There are three common types of marketing efficiency

• operational
• allocative
• informational

Marketing margin- The difference between what a company pays for a product and what it charges for the product. For example, When companies buy a product to act as a distributor or retailer, they must sell the product at a higher price than that at which they purchased it.

Market demand- is the total quantity of goods demanded across all customers in the market. Aggregate demand is the total demand for all goods and services in an economy.