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Letter L Marketing Terms

KnowThis.com offers a detailed list of marketing terms that includes definitions and links to more detail found within our Principles of Marketing Tutorials. For most terms to learn more click on the For More See link.
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1
Label
Information imprinted on Final Customer Packaging and Distribution Packaging that serves many functions such as promotion, offering product details and product purchase information (e.g., contains Universal Product Code).
2
Laggards
The fifth category within the Diffusion of Innovation consisting of a sizeable though not large percentage of a market who are primarily characterized as being reluctant to accept new products and may only do so if they have no other choice.
3
Late Majority
The fourth category within the Diffusion of Innovation consisting of up to one-third of the overall market who are primarily characterized as preferring to take a wait-and-see approach before trying something new.
4
Lifestyle
A component of the internal influences on consumer buying behavior that represents what a person values out of life by the activities they engage in and the interests they express.
5
Loss Leaders
A form of promotional price adjustment, primarily used by retailers to increase customer traffic, that intentionally prices select products at or below the cost the retailer pays to purchase the product from suppliers.
6
Loyalty Programs
A form of sales promotion, used in both consumer and business markets, that offers customers rewards, such as price discounts and free products, based on purchase frequency or other activity.

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Samples of Marketing Tutorials

Loyalty Programs
Promotions that offer customers a reward, such as price discounts and free products, for frequent purchasing or other activity are called loyalty programs. These promotions have been around for many years but grew rapidly in popularity when introduced in the airline industry as part of frequent-filer programs. Loyalty programs are also foun…

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