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Gray Market Definition and Explanation PDF Download

Learn Gray Market definition in marketing with explanation to study “What is Gray Market”. Study gray market explanation with marketing terms to review marketing course for online MBA programs.

Gray Market Definition:

  • Branded products diverted from normal or authorized distribution channels in the country of product origin or across international borders.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Gray Market Explanation:

Nonexclusive, in business, alludes to items that organizations showcase without a trademark, brand name, or other distinctive element. In a non-business setting, the term implies normal for or identifying with an entire class or gathering. For instance "Sci-fi is the conventional term for such motion pictures and TV arrangement." The term, signifying 'having a place with an enormous gathering of items,' first showed up in the English language during the 1670s. It started from Latin class , stem of sort 'race, kind.' Hence, a general kind, i.e., not exceptional. Its business significance did not rise in the English language until 1953 for medications, and 1977 for different items. The item is generally the first of its sort to go onto the market. For instance, Thermos (vacuum cup), Fridge (cooler), Hoover (vacuum cleaner), and PC (work station) were once selective brand names.

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