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Definition
| the set of products (or businesses) that comprise the company. |
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| Proportion of total sales ($ or quantity) |
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| Is the (product category) growing in sales volume. |
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| Brand Share/Largest Competitor Share |
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| Unit Sales/Total market unit sales |
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| Customer who buys category products/Total Population |
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| Cust. who purchases this brand/total population |
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| Brand penetration/Market Penetration |
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| Refers to a product that is TOTALLY NEW to a firm (not a juice from coke, for example, but a candy bar.) |
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| is the ability of a firm to outperform the competition by providing customers with a proprietary benefit the competition can't. |
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| Quantitative and Qualitative |
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| Steps to marketing international |
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Definition
Looking at the global marketing environment
Deciding whether to go international
Deciding which markets to enter
Deciding how to enter the market
Deciding on the global marketing program
Deciding on the global marketing organization |
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| Least Developed Countries |
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Definition
| Countries at the lowest stage of economic development. |
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| Countries in which the economy is shifting its emphasis from agriculture to industry Sri lanka |
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| Countries in which the economy is shifting its emphasis from agriculture to industry Peru |
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| countries that have marketing systems, private enterprise, and market potential for many g/s Germany |
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| is the policy protecting domestic industries against foreign competition by means of tariffs, subsidies, import quotas or other restrictions placed on the imports of foreign competitors. Politically Motivated! |
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| Entering a foreign market by developing foreign-based assembly/manufacturing or service facilities. |
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| a foreign firm partners with one or more domestic firms to maximize resources and gain easier access into the foreign market. |
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| Licensing and Franchising. |
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Definition
| exporting requires the lowest level of commitment or expense, but also provides the least amount of control of the product once it enters a foreign market. |
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| Normal Stages of market entry |
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Definition
| Export, Contractual Agreement, Strategic Alliance, Direct Investment |
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Definition
| the coordination of a marketer's communication efforts to influence attitudes or behaviors |
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Definition
| Inform, Remind, Persuade, and Build relationships |
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| Integrated Marketing Communications |
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Definition
| is cross-functional process for establishing relationships with customers and other stakeholders using messages from the marketer. |
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Definition
| producer directs its marketing activities toward channel members to induce them to carry the product and promote it to the final customers |
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Definition
| producer directs its marketing activities toward final consumers to induce them to buy the product. |
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| is nonpersonal communication paid for by an identified sponsor using mass media to persuade or inform the audience. |
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| 2 elements of advertising strategy |
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Definition
| creating advertising messages and selecting advertising media. |
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Definition
| a long-term document which extends and elaborates a brand's marketing strategy into the area of ad copy. |
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| What is the diff. between Target audience and target market? |
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Definition
| audience is more narrow!!! |
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Definition
| the precise group of consumers to whom our advertising is directed and among whom our advertising is intended to have its greatest appeal and effect. |
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| those rewards the consumer will reap from purchasing and using your products. Can include tangible performance benefits and/or emotional gratification. |
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Definition
| Billboard, transmit advertising |
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Definition
| Reach, Frequency, and Media Impact |
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| Advertising Cost/Impressions |
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Definition
| minimizes mistakes by getting consumer reactions to ad messages BEFORE they are placed in the media |
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Definition
| research conduced on consumers responses to actual advertising messages they have seen or heard |
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Definition
| are programs designed to build interest in or encourage purchase of a product during a specified SHORT time period. |
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Definition
| I'm Loving it, Eat Fresh, Eat ME |
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Definition
| building good relations with the firm's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events. |
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Definition
| unpaid communication about a product appearing in the mass media. |
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Definition
| an interpersonal communications process in which a marketer's represenatives |
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Definition
| Individuals from different function areas working together to satisfy customers needs. |
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Definition
| also known as collaborative selling because an alliance is formed with customers to meet ongoing customer needs. |
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Definition
| is the value that customers give up or exchange to obtain a desired product. |
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Term
| 3 Types of Cost-Based Pricing |
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Definition
| Cost-Plus Pricing, Break-even pricing, target-profit pricing |
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| Price Elasticity of Demand |
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Definition
| Percent change in Sales Quantity//Percent change in price |
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Term
| What is price elasticity? |
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Definition
| how sensitive are customers to changes in price? |
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Definition
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Definition
| Charging a high premium price at the start and dropping it later. |
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Definition
| a new product is introduced at a very low price |
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Definition
| selling two or more goods or services as a single package for one price. |
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Definition
| considers the psychology of prices and not simply the economics. |
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Term
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Definition
| Reminds us if we usually know prices whether it's high or low...if we know the price of gas or eggs then this is INTERNAL REFERENCE PRICES |
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| What is a good example of an inelastic good? |
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Definition
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Term
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Definition
| are firms that handle the title flow of products from the manufacture/marketer to the consumers.. |
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| benefits of Direct Channel |
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Definition
| manufacturer can serve customers better, lower prices by getting rid of the retailer, control of pricing and strategy |
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| benefits of Indirect channel |
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Definition
| customers are familiar with buying from certain retailers. |
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Term
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Definition
| the objective is to saturate the market with the product...candy |
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Term
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Definition
| a limited number of retailers or dealers are used to reach target market....refrigerator brands |
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Term
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Definition
| only one or a limited number or retailers market the product in a particular geographical area. Rolex Watches |
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