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Marketing 202 Final
Final
86
Marketing
Undergraduate 2
06/06/2012

Additional Marketing Flashcards

 


 

Cards

Term
Production Concept
Definition
marketing management orientations focuses primarily on improving efficiencies along the supply chain
Term
a company should enter only segments in which it can
Definition
offer superior value and gain advantage over competitors.
Term
Product Concept
Definition
marketing management concepts is most closely aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features
Term
Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?
Definition
Undifferentiated Marketing
Term
differentiate marketing
Definition
When New Port Shipping uses segmented marketing, it targets several segments and designs separate offers for each one
Term
Target market
Definition
55-year-old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called
Term
Customer Equity
Definition
the total combined customer lifetime values of all the company's current and potential customers
Term
Sales Promotions
Definition
The use of short-term incentives to encourage the purchase or sale of a product or service
Term
Advertising
Definition
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called
Term
Public Relations
Definition
one of five major promotion tools that includes building up a positive corporate image and handling unfavorable stories and events
Term
Strategic Positioning
Definition
NOT a major category in the promotion mix
Term
Competitor
Definition
The promotion mix is the company's primary communication activity; the marketing mix must be coordinated for the greatest communication impact. What is NOT included in the entire marketing mix
Term
Today's consumers do not need to rely on marketer-supplied information about products and services because they can use (blank) to seek out a wealth of information
Definition
the internet and other sources
Term
Companies are doing less (blank) and more (blank) as a result of an explosion of more focused media that better match today's targeting strategies.
Definition
Broadcasting, Narrowcasting
Term
Advertising Objectives
Definition
can be classified by primary purpose–whether the aim is to inform, persuade, or remind.
Term
Informative Advertising
Definition
used heavily when introducing a new product category. The objective is to build primary demand
Term
Persuasive Advertising
Definition
becomes more important as competition increases. The company's objective is to build selective demand
Term
Developing an effective message strategy begins with identifying (blank) that can be used as advertising appeals
Definition
Consumer Benefits
Term
Values and Perceptions
Definition
the most basic cause(s) of a person's wants and behavior.
Term
It is most accurate to say that marketers are always trying to spot (blank) in order to discover new products that might be wanted
Definition
Cultural Shifts
Term
Cognitive Dissonance
Definition
groups of people with shared value systems based on common life experiences and situations.
Term
Social Classes
Definition
society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors
Term
What is one way social class is not measured?
Definition
Number of Children in the Family
Term
Family is one of the (blank) factors that influence consumer behavior.
Definition
social
Term
Aspirational Groups
Definition
groups to which an individual wishes to belong, as when a teenage basketball player hopes to play someday for the Los Angeles Lakers
Term
Opinion Leaders
Definition
people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others
Term
What is the LEAST pressing in Maslow's Hierarchy of Needs?
Definition
Self Actualization needs
Term
Learning
Definition
describes changes in an individual's behavior arising from experience.
Term
The buyer decision process consists of five stages. Which of the following is NOT one of these stages?
Definition
Variety-Seeking Buying Behavior
Term
Need Reognition
Definition
The beginning of they buying process where the buyer recognizes a problem or need.
Term
If the consumer's drive is strong and a satisfying product is near at hand, the consumer is likely to buy it then. If not, the consumer may store the need in memory or undertake
Definition
Information Search
Term
The information sources that are most effective at influencing a consumer's purchase decision are (blank). These sources legitimize or evaluate products for the buyer.
Definition
Consumer Buying
Term
Consumers learn about new products for the first time and make the decision to buy them during the
Definition
Adoption Process
Term
Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by
Definition
Loyalty
Term
By studying its less loyal buyers, a company can detect which brands are most (blank) with its own.
Definition
competitive
Term
When a market segment is large or profitable enough to serve, it is termed
Definition
substantial
Term
When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as
Definition
Actionable
Term
The market segments your company is targeting are conceptually distinguishable and respond differently to different marketing mix elements and programs. Therefore, these segments are
Definition
Differentiable
Term
To evaluate the different market segments your company is serving, you would look at all of the following factors EXCEPT which one?
Definition
Company Values and Mission
Term
Which of the following was NOT a negative stereotype about Americans traveling abroad?
Definition
Hard Working
Term
Product
Definition
anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
Term
Services
Definition
a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything
Term
Product is a key element in a company's (blank), which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services.
Definition
Market Offering
Term
Product planners consider products and services on three levels. The most basic level is the (blank), which addresses the question, "What is the buyer really buying?"
Definition
Core Benefit
Term
The third level of a product that product planners consider is a(n) (blank) around the core benefit and actual product that offers additional consumer services and benefits.
Definition
Augmented Product
Term
Products and services fall into two broad classifications based on the types of consumers that use them. Which of the following is one of these broad classes?
Definition
Industrial Products
Term
Consumer Products
Definition
products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.
Term
Shopping Products
Definition
are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Consumers spend much time and effort in gathering information and making comparisons about these products.
Term
Specialty Products
Definition
consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
Term
Unsought Products
Definition
consumer products that the consumer either does not know about or knows about but does not normally think about buying. These products require a lot of advertising, personal selling, and other marketing efforts.
Term
Brand
Definition
a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service
Term
Product Line
Definition
a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.
Term
Product Mix
Definition
consists of all the product lines and items that a particular seller offers for sale.
Term
Product mix (blank) refers to the number of different product lines the company carries. Procter & Gamble markets 250 brands organized into many product lines.
Definition
Width
Term
Price is the only element in the marketing mix that produces
Definition
Revenues
Term
Consumer perceptions of the product's value set the (blank) for prices.
Definition
Ceiling
Term
Product costs set a(n)(floor) to a product's price
Definition
Floor
Term
Pure Competition
Definition
the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities.
Term
Monopolistic Competition
Definition
the market consists of many buyers and sellers who trade over a range of prices rather than a single market price
Term
Oligopolistic Competition
Definition
the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies
Term
In many industries, traditional intermediaries are dropping by the wayside because of changes in (blank) and the growth of (blank) marketing.
Definition
Technology, Direct and Online
Term
Through the use of (blank), or "smart tag" technology, a company is able to locate exactly where a product is within the supply chain.
Definition
RFID Tag
Term
Producers benefit from using intermediaries because they...
Definition
Offer greater efficiency in making goods available to target markets
Term
Marketing logistics involves getting the right product to the right customer in the right place at the right time. Which one of the following is NOT included in this process?
Definition
Gathering Customer’s Ideas for new Products
Term
Which of the following transportation modes is used for digital products?
Definition
Internet
Term
Companies manage their supply chains through
Definition
Information
Term
Today, a growing number of firms now outsource some or all of their logistics to
Definition
Third-Party Logistics Providers
Term
Market-Penetration Pricing
Definition
the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.
Term
All of the following conditions support market-penetration pricing EXCEPT which one?
Definition
The product’s quality and image must support the price
Term
By definition, this type of pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost
Definition
Price Discrimination
Term
Customer-Segmented Pricing
Definition
The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same services.
Term
When a firm varies its price by the season, month, day, or even hour, it is using (blank) pricing
Definition
Time
Term
Members of a company's (blank) conduct business from their offices through the telephone, the Internet, or visits from customers
Definition
Inside Sales Force
Term
Which of the following is the growing trend of using a group of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts?
Definition
Team Selling
Term
According to research conducted by Gallup Management Consulting Group, which of the following is one of the four key talents a successful salesperson should possess?
Definition
Intrinsic Motivation, Disciplined Work Style, Ability to Close Sales, Build Relationships with Customers
Term
Sales applicants are LEAST likely to be tested for
Definition
Accounting skills
Term
Which of the following is NOT one of the four basic types of compensation plans?
Definition
Commission and Bonuses
Term
Management sets standards that state the amount each salesperson should sell and how sales should be divided among the company's products with
Definition
Sales Quota
Term
A salesperson's (blank) is often related to how well he or she meets a set quota.
Definition
Compensation
Term
Prospecting is the step in the selling process in which the salesperson
Definition
Identifies and Qualifies the Prospects
Term
Presentation
Definition
The step that follows approach in the selling process
Term
Close the Sale
Definition
step of the selling process is difficult for some salespeople because they lack confidence, feel guilty about asking for an order, or may not recognize the right time to ask for an order.
Term
In the Golden Circle model, what did the smallest circle represent?
Definition
Why
Term
In the Golden Circle model, what did the medium-sized circle represent?
Definition
How
Term
What is the name of the guy who started TOMS shoes?
Definition
Blake
Term
Which of the following phrases is included in the mission statement for Harley-Davidson?
Definition
We Ride With Our Customers
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