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Todd Donavan MKT 300
Exam 3
59
Marketing
Undergraduate 2
04/02/2011

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Cards

Term
brand
Definition
a name term design symbol or other feature that identifies a sellers products and differentiates them from competitors products
Term
brand equity
Definition
marketing and finacial values of a brand
Term
3 components of loyality
Definition
1. brand recognitions: aware of brand but will consider other brands
2. brand preference: strong preferrance but will accept substitute
3. brand insistance: will not accept any other brands
Term
aspects of brand loyality
Definition
instability
agreeability: lesss agreeable you are: more loyal u are
need for arousal: don't like stimulation: more loyal
materialism
openess: less creative/open more loyal
Term
5 traits of a brands personality
Definition
-sincerity: down to earth, honest, wholesome
-excitment: daring, spirited, up to date
-competence: reliable, successful
-sophisticated: upper class charming
-ruggedness: tough outdoorsey
Term
elements of brand equity:
Definition
brand name awerness
perceived brand quality
brand loyalty
brand associations
Term
selecting a brand name
Definition
The name should 
be easy to say, spell, and recall. 
indicate the product’s major benefits. 
suggest the product’s major uses and special 
characteristics.
be distinctive, setting it apart from competing 
brands.
be compatible with all products in line. 
be designed for use and recognition 
in all types of media.
Term
pampers
Definition
Bri-wees 
Winks 
Tenders 
Tads 
Solos 
Zepher
Term
Co-Branding
Definition
Using two or more brands on one product to 
capitalize on the brand equity (customer
confidence and trust) of multiple brands
Term
Licensing
Definition
Agreement to use brand on other products for 
a fee
Term
Packaging / Labeling: Color
Definition
blue, soothing
orange: Low cost
red: excitement
purple: royal

Warning lables-- avoid getting sued
Term
repositioning
Definition
change packing or color and see how that improved the brand
Term
service
Definition
intangible performance
cannot be physically possessed
ex: restaurants
Term
products v services
Definition
Intangibility: try to make it tangible: give away a sticker or pen

inseparability: bring both parties together to perform service: ex cake maker, dentist

perishability: services die

heterogeneity: dif services providers perfrom task differently: 5 guys v burger king
Term
3 aspects of customer contact
Definition
level of interaction
physical apperarance
customer orientation
Term
customer contact: Level of interaction
Definition
some services requires a lot of interation between the parties: ex: dentist
Term
physical apperance
Definition
are they dressed appropratly? is the puilding professional

does it fit the requirements
Term
customer orientation
Definition
employees tendency or predispositions to meet the cutomers needs on the job
Term
customer orientation: 4 aspects
Definition
pampering: make ach customer feel special

ability to deliver: in right sequence

read customers: pick up on body language: ex, server notices need before you ask

personal relationship: know the customers name

all 4 of these lead to satisfaction
Term
customer orientation:
Definition
contact time, fit, employee satisfaction, commitment, helping behaviors
Term
development of services
Definition
credentals: docs and lawyers put up their credentials

rituals: duck ex
pleasure and pain (prospect theory) pain: 1 experience, pleasure: multiple experiences
Term
promotion and pricing of serice
Definition
tangible cuew: sticker: oil change

sampling: test drive cars, netflix

supply demand based pricing: by the job: flat fee, time based: lawyer, time sensative: plane tickets
Term
service quality
Definition
experience qualities: eval based on senses-- smell taste etc
credence qualities: never actually evaluate or see them: Life insurance, warranty, if you never wreck your car you never use your insurance
Term
deliverieng exceptional service quality: 1985 (5 dimentions)
Definition
tnagibles
reliablirty
responsiveness
assurance
empathy
Term
delivering exceptional Service quality: tangibles
Definition
physical: judge quality, clean, outfits etc
Term
delivering exceptional Service quality: reliability
Definition
dependable accurate: ex: taxes done right
Term
Vresponsiveness
Definition
rediness and willingness to serve you
Term
delivering exceptional Service quality: Assurance
Definition
make ppl feel confident that you are knowledgeable give curticy
Term
delivering exceptional Service quality: empathy
Definition
individual attnetion: feel special
Term
delivering exceptional service quality
Definition
customer expectations: Ex- good v bad cashiere, outcome is the same but the process is a different experience
quality specifacations
employee performance
Term
profit chain
Definition
internal service quality: employee satisfaction: employee loyality: external service quality: customer satisfaction: customer loyalty: revenue growth and profitability
Term
services "winning organizations" qualities they have
Definition
long term focus
team work
lack of entitlement
Term
line extension
Definition
developemnt of a product that is closely related to existing products in the line but is designed specifically to meet differnet customer needs!
Term
product modification
Definition
changes in one or more characteristics of a product
Term
phases of new product development
Definition
idea generation
screening
concept testing
business analysis
product developement
test marketing
commercialization
Term
phases of new product development: idea generation
Definition
seeking product ideas to ahcieve organizational objectives
Term
phases of new product development: screening
Definition
selecting the ideas with the greatest potential for further review
Term
phases of new product developmentconcept testing
Definition
seeking a sample of potential buyers responses to be a product idea
Term
phases of new product development: business analysis
Definition
evaluating the protential impact of a product idea on the firms sales costs and profits
Term
phases of new product development: Product development
Definition
determining if producting a product is feasible and cost effective
Term
phases of new product development: test marketing
Definition
a limited introduction of a product in geographic areas chosen to represent the intended market
Term
phases of new product development: commercialization:
Definition
refiningand finalizing plans and budgets for full scale manufacturing and marketing of a product
Term
product differentiation
Definition
creating and designing products so that customers perceive them as different from competing products
Term
product quality
Definition
performance
features
reliability
durability
serviceability
aesthetics
conformance to specifications
perceived quality
Term
product positioning and
Definition
creating and maintaining a certain concept of a product in customers minds
Term
repositioning
Definition
a products posistion results from customers perceptions of a products attributes relative to those of competing products : marketers emphasize characteristics most desired by the target market in advertising
Term
IMC: intergrated marketing communications
Definition
the process of managin the promotional tools in such a way that a synergistic communication effect is created
-unifying all mkt communication tools
-sends a consistent message that promte company goals
-each tool reaches audience in dif way
Term
Reasons for IMC growth
Definition
1. fragmentation of the media: smaller audiences because there are more options

2.database tech : better known demographics

3. consumer empowerment: skeptical of ads

4.advertising clutter: so many messages per day
Term
promotion
Definition
communication process in marketing that is used to create a favorable predisposition toward a brand of product or service an idea or even a person

inform: ex pharmisuticals
remind : ex convince goods
persuade: ex: Say "buy our product"
Term
Role or promotion in revenues and profits
Definition
promotion cannot be held soely responsible for sales. Sales occur when a brand has a well-conceived complete marketing mix including good promotion
-creates pricing flexibility:
-contributes to economies of scale: cheaper to produce the more you make
-creating brand loyalty: don't have to advertise to loyal customers
Term
role of promotion
Definition
1. information and persuason
2. introduction of new brand or brand extensions
3. building and maintaining brandy loyalty among consumers
Term
the communication process: communis
Definition
communis: common

source: coded message: medium of transmission: decoded message: reciever/audience-- feedback
Term
objectives of promotion
Definition
-create awareness
-stimulate demand
-encourage product trial

all 3 relate to aida model
Term
hierarchy of effect model
Definition
attention-interest-desire-action

Eddie murphey story
Term
promotion objectives continued
Definition
identify prospects
-retain loayal customers
-facilitate reseller support: displays at grocery stores
-combat competitive promotional efforts: coke and pepsi offer similar incentives
-reduce sales fluctuations
Term
The promotion mix: 4 elements
Definition
Adcertising: paid mass mediated attempt to persuade

personal selling: person to person selling can personalize it

public relations: foster goodwill and damage control

sales promotion: limited time vents Ex: coupons
Term
selecting a promotional mix
Definition
resources and objectives:

characteristics of the target market

characteristics of the product

costs and availibility

push v pull
Term
push pull strategy
Definition
pull=directs marketing effots at the ultimate consumers
producer: wholesalers: retailers: consumers

push=marketing efforts at the resellers and the sales force to stimulate personal selling effect
producer offers incentive to whoesalers: savings to retailers: more savings to consumers
Term
ethical issues in promtion
Definition
is promotion deceptive?

promotion increase prices?

advertising create needs?

advertising promotes materialism
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