Page 226 - Marketing the Basics 2nd

218 glossary
Avatars A representation of an individual’s online persona. Average unit cost The quotient from dividing the total cost into
the level of output.
Backward invention Reintroducing an older version of a product that is well suited to the needs of a local market.
Banner blindness A term used to describe the phenomenon where users almost completely ignore display advertisements on websites.
Behavioural segmentation Dividing a market into groups based on the benefit sought.
Black box A term used to describe the process a buyer undergoes when making a purchasing decision.
Blog A regularly update website containing the opinions, commentary and collection of interesting articles to the author.
Brand A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Brand awareness The strength of presence of the brand in consumers’ minds as they can identify the brand under different conditions.
Brand equity The added value that a branded product contains over a competing generic and unbranded product.
Brand evangelist An influential individual chosen to advocate on behalf of a brand.
Brand image Consumers’ perceptions of a brand based on the associations that they have of the brand.
Break-even point The minimum number of units that need to be sold to ensure the firm recovers their operating expenses.
Bundling A selling strategy that entails offering two or more products together at a lower price than purchasing each unit separately.