Term
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Definition
| The activity set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society as a large |
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Term
| What marketing era is associated with mass production? |
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Definition
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Term
| The marketing concept is based what three elements? |
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Definition
| Customer, service and profit orientation |
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Term
| What is the definition of a product? |
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Definition
| Any physical, good, or service that satisfies a want or need plus anything that would enhance the product in the eyes of the consumer |
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Term
| Listeing to customers and other stakeholders is key what marketing function? |
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Definition
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Term
| Why use secondary date first in marketing research? |
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Definition
| to avoid incurring unnecessary expenses |
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Term
| What are the techniques commonly used to collect primary data in marketing research? |
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Definition
| Telephone, online, mail, and personal surveys |
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Term
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Definition
| All the individuals that want goods and services to use in producing other goods and services to sell, rent or supply to others |
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Term
| What determines if a product is classified a consumer or industrial product? |
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Definition
| The buyer’s reason for buying- that is, the end use of the product |
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Term
| What is target marketing? |
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Definition
| The market that the organization decides to serve and sell to |
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Term
| What does psychographic segmentation look at? |
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Definition
| Group’s values attitudes and interests |
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Term
| What is the goal of relationship marketing? |
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Definition
| To keep each individual consumer over time by offering them new products that exactly meets their needs |
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Term
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Definition
| Consists of major capital equipment such as new factories and heavy machinery |
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Term
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Definition
| A brand that has exclusive legal protection for both its name and design |
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Term
| When consumers reach the point of brand insistence; the product becomes what classification? |
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Definition
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Term
| What is a brand management team? |
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Definition
| A team used to bolster the overall effort of the brand manager who is responsible for new product development |
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Term
| What happens to the marketing strategy as products move through the product life cycle? |
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Definition
| Marketing managers will make strategic changes as needed to start a new growth cycle |
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Term
| What is the primary basis used to set product prices? |
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Definition
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Term
| What is break-even analysis? |
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Definition
| The process used to determine profitability at various levels of sales |
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Term
| What is high-low pricing? |
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Definition
| High-low pricing is setting prices that are higher than everyday low pricing (EDLP) stores, but having many special sales where the prices are lower than competitors. |
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Term
| What is Demand-oriented pricing? |
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Definition
| Demand-orientation pricing is pricing on the basis of consumer demand rather than cost or some other calculation |
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Term
| What is nonprice competition? |
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Definition
| Marketers competing on product attributes other than price |
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Term
| How can small firms succeed against larger competitors? |
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Definition
| By adding value to their product offering |
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Term
| What are the utilities commonly provided by marketing intermediaries? |
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Definition
| Form, Time, Place, Possession, Info, and Service |
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Term
| What is the information utility? |
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Definition
| Adding value to products by opening two-way flows of information between marketing participants |
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Term
| What is the place utility? |
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Definition
| Adding value to products by having them located where ppl want them |
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Term
| What are the two basic types of merchant wholesales? |
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Definition
| Full-service and limited functions |
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Term
| What is a full-service wholesaler? |
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Definition
| Merchant wholesalers who perform all of the distribution functions |
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Term
| What is a rack jobber wholesaler? |
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Definition
| Limited-function wholesalers who furnish shelves full of merchandise to retailers who sell these items on consignment |
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Term
| What are agents and brokers and how do they differ from merchant wholesalers? |
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Definition
| Agents and brokers earn commission or fees based on the percentage of the sales revenues, while merchant wholesalers earn profit from the sale of goods. Agents maintain long-term relationships with the people they represent where as brokers are usually for temporary use |
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Term
| What is a manufacture’s agent? |
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Definition
| Agents that may represent several producers in a specific territory, as long as they do not represent competing producers |
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Term
| What is an exclusive distribution strategy? |
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Definition
| Distribution that sends products to only one retail outlet in a given geographic area |
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Term
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Definition
| The sale of goods and services by telephone |
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Term
| What is multilevel marketing? |
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Definition
| Salespeople earn commissions on their own sales, creating commissions for the “upliners” who recruited them, and receive commission from any “downliners” they recruit to sell |
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Term
| What is outbound logistics? |
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Definition
| Moving finished product and info to business buyers and to the consumers |
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Term
| What transportation mode moves the greatest volume of goods and services in the U.S? |
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Definition
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Term
| What are distribution warehouses? |
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Definition
| Facility that gathers and redistributes products |
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Term
| What is the goal of promotion? |
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Definition
| To inform and remind people in a target market about specific products, eventually persuading them to participate in an exchange |
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Term
| What is interactive promotion? |
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Definition
| Promotion process that allows marketers to go beyond a monologue, where sellers try to persuade buyers to buy things, to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationships |
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Term
| Why use online advertising? |
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Definition
| It offers the greatest potential for meaningful interaction between buyers and sellers |
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Term
| Which will produce better results; country or global promotion? |
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Definition
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Term
| In B2C sales a salesperson do no spend much time ______ a customer. |
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Definition
| Prospecting or qualifying |
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Term
| What is the definition of publicity? |
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Definition
| Any information about a product or an organization that is communicated to the public through the media and is not paid or controlled by the sponsor |
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Term
| How much control do a firm have over publicity? |
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Definition
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Term
| What are the benefits of virtual trade shows? |
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Definition
| Allows B2B buyers to see products on the Internet 24 hours a day, 365 days a year without having to leave their office |
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Term
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Definition
| Describes everything from paying customers to say positive things on the Internet to setting up multilevel selling schemes whereby customers get commission for directing their friends to specific websites |
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Term
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Definition
| Distribution method for audio and video programs via the Internet that lets users subscribe to a number of files and feeds |
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Term
| What is the purpose of using a pull strategy in sales promotion? |
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Definition
| To convince consumers to go to the store and ask for the products |
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