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Marketing Final
Marketing Final
62
Marketing
Undergraduate 3
03/26/2009

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Term
Marketing Portfolio
Definition
the set of products (or businesses) that comprise the company.
Term
Market Share
Definition
Proportion of total sales ($ or quantity)
Term
Market Growth
Definition
Is the (product category) growing in sales volume.
Term
Relative Market Share
Definition
Brand Share/Largest Competitor Share
Term
Market Share Units
Definition
Unit Sales/Total market unit sales
Term
Market Penetration
Definition
Customer who buys category products/Total Population
Term
Brand penetration
Definition
Cust. who purchases this brand/total population
Term
Penetration Share
Definition
Brand penetration/Market Penetration
Term
New Product
Definition
Refers to a product that is TOTALLY NEW to a firm (not a juice from coke, for example, but a candy bar.)
Term
Competitive Advantage
Definition
is the ability of a firm to outperform the competition by providing customers with a proprietary benefit the competition can't.
Term
How do we get forecasts?
Definition
Quantitative and Qualitative
Term
Steps to marketing international
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
Term
Least Developed Countries
Definition
Countries at the lowest stage of economic development.
Term
Emerging Nations
Definition
Countries in which the economy is shifting its emphasis from agriculture to industry Sri lanka
Term
Emerging Nations
Definition
Countries in which the economy is shifting its emphasis from agriculture to industry Peru
Term
Advanced Economies
Definition
countries that have marketing systems, private enterprise, and market potential for many g/s Germany
Term
Protectionism
Definition
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!
Term
Direct Investment
Definition
Entering a foreign market by developing foreign-based assembly/manufacturing or service facilities.
Term
Strategic Alliances
Definition
a foreign firm partners with one or more domestic firms to maximize resources and gain easier access into the foreign market.
Term
Contractual Agreements
Definition
Licensing and Franchising.
Term
Exporting
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.
Term
Normal Stages of market entry
Definition
Export, Contractual Agreement, Strategic Alliance, Direct Investment
Term
Promotion
Definition
the coordination of a marketer's communication efforts to influence attitudes or behaviors
Term
Goals of Promotion
Definition
Inform, Remind, Persuade, and Build relationships
Term
Integrated Marketing Communications
Definition
is cross-functional process for establishing relationships with customers and other stakeholders using messages from the marketer.
Term
Push Strategy
Definition
producer directs its marketing activities toward channel members to induce them to carry the product and promote it to the final customers
Term
Pull Strategy
Definition
producer directs its marketing activities toward final consumers to induce them to buy the product.
Term
Advertising
Definition
is nonpersonal communication paid for by an identified sponsor using mass media to persuade or inform the audience.
Term
2 elements of advertising strategy
Definition
creating advertising messages and selecting advertising media.
Term
Copy Strategy
Definition
a long-term document which extends and elaborates a brand's marketing strategy into the area of ad copy.
Term
What is the diff. between Target audience and target market?
Definition
audience is more narrow!!!
Term
Target Audience
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.
Term
Consumer Benefits
Definition
those rewards the consumer will reap from purchasing and using your products. Can include tangible performance benefits and/or emotional gratification.
Term
Out of home media
Definition
Billboard, transmit advertising
Term
Setting Media Objectives
Definition
Reach, Frequency, and Media Impact
Term
CPM
Definition
Advertising Cost/Impressions
Term
Pretesting
Definition
minimizes mistakes by getting consumer reactions to ad messages BEFORE they are placed in the media
Term
Post testing
Definition
research conduced on consumers responses to actual advertising messages they have seen or heard
Term
Sales promotion
Definition
are programs designed to build interest in or encourage purchase of a product during a specified SHORT time period.
Term
Advertising Campagin
Definition
I'm Loving it, Eat Fresh, Eat ME
Term
Public Relations
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.
Term
Product Publicity
Definition
unpaid communication about a product appearing in the mass media.
Term
Personal Selling
Definition
an interpersonal communications process in which a marketer's represenatives
Term
Sales Team
Definition
Individuals from different function areas working together to satisfy customers needs.
Term
Sales Partnering
Definition
also known as collaborative selling because an alliance is formed with customers to meet ongoing customer needs.
Term
Price
Definition
is the value that customers give up or exchange to obtain a desired product.
Term
3 Types of Cost-Based Pricing
Definition
Cost-Plus Pricing, Break-even pricing, target-profit pricing
Term
Price Elasticity of Demand
Definition
Percent change in Sales Quantity//Percent change in price
Term
What is price elasticity?
Definition
how sensitive are customers to changes in price?
Term
Mark-Up
Definition
Cost + Mark Up = Price
Term
Price Skimming
Definition
Charging a high premium price at the start and dropping it later.
Term
Penetration Pricing
Definition
a new product is introduced at a very low price
Term
Price Bundling
Definition
selling two or more goods or services as a single package for one price.
Term
Psychological Pricing
Definition
considers the psychology of prices and not simply the economics.
Term
Internal References
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
Term
What is a good example of an inelastic good?
Definition
Drugs
Term
What are intermediaries?
Definition
are firms that handle the title flow of products from the manufacture/marketer to the consumers..
Term
benefits of Direct Channel
Definition
manufacturer can serve customers better, lower prices by getting rid of the retailer, control of pricing and strategy
Term
benefits of Indirect channel
Definition
customers are familiar with buying from certain retailers.
Term
Intensive Distribution
Definition
the objective is to saturate the market with the product...candy
Term
Selective Distribution
Definition
a limited number of retailers or dealers are used to reach target market....refrigerator brands
Term
Exclusive Distribution
Definition
only one or a limited number or retailers market the product in a particular geographical area. Rolex Watches
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