Term
| Services and Cultural services are . . . |
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Definition
| Intangible, Perishable, Simultaneous, Circumstantial |
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Term
| Example of a cultural Service . . . |
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Definition
| Music COnert, Opera, Theatrea performance, Art happening |
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Term
| Example of Cultural Product . . . |
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Definition
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Term
| What are four types of goods? |
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Definition
Convenience: very little brand loyalty
Experience: Products appreciated after consumption
Research: Purchased after research and comparisons with substitute goods
Credence: High brand loyalty and little substituttion |
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Term
| How would Bradd Todd define a brand? |
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Definition
| A promise to your constituents or consumers |
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Term
| What are three qualities of an enduring brand? |
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Definition
| Conviction, connection, consistency |
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Term
| In reference to the life cycle what three consumer categories are thee |
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Definition
| Laggards, Conservative, and Risk Takers |
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Term
| Four phases of Life-Cycle . . . |
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Definition
| Indroductory, growth, Maturity, Decline |
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Term
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Definition
| Fewer customers as a result of a lack of feeling special or unique as a consumer |
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Term
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Definition
| The idea that high price automatically means high quality and or prestige. |
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Term
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Definition
| Many customers as a result of social influence |
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Term
| What is the main challenge with the Market ife Cycle |
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Definition
| It is very difficult to determine where you are in the life cycle in the midst of it. |
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Term
| What main socio-demographics are associated with those who attend arts |
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Definition
| High income, Education, Older Age, and Female |
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Term
| What are the types of markets |
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Definition
| Consumer Market, Product Market, State Market, Private-Sector Market |
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Term
| What affects the development of taste? |
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Definition
| Family, Education milieu, childhood attendance and/or participation, Amateur practice of arts, adult social environment |
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Term
| How are taste as participation related? |
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Definition
| Taste leads to higher participation and often times participation will lead to taste. |
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Term
| How can the state market be helpful |
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Definition
| Primarily through funding. Also through know-how and availability to information. |
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Term
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Definition
| Amount of sales measured in volume or $ |
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Term
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Definition
| volume is a more accurate reading of a non-profits market demand than $ |
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Term
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Definition
| is the amount of sales by a specific company |
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Term
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Definition
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Term
| What are three types of demand |
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Definition
| Real demand, potential demand, and non-demand |
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Term
|
Definition
| RD - Affective Sales ND - highly unlikely to become customers PD - Consumers who could consume more |
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Term
| As related to market share what is the role of marketing? |
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Definition
| to increase consumption existing consumers and identify and reach potential consumers |
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Term
| Why did the leisure market boom from the 60's - 80's |
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Definition
| Baby boomers, increase in disposable personal time, higher education, higher participation of women in the workforce |
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Term
| Who is leisure time now as compared to thirty years ago? |
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Definition
| Now we are in a period of stagnation with leisure time where as thirty years ago the leisure time was growing. |
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Term
| What are the types of competition |
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Definition
| Product/Service, Genre, Cultural vs. Leisure, Local v. Int'l |
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Term
| What's an example os synergies of markets |
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Definition
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Term
| What are the three main types of data |
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Definition
| Internal, Secondary, and Primary |
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Term
|
Definition
| Available with the organization, sources: accounting systems, sales reports, website hits etc., |
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Term
|
Definition
| Available from outside sources either public or private |
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Term
| Examples of private secondary data |
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Definition
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Term
| Examples of Public secondary data |
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Definition
|
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Term
|
Definition
| obtained and treated by organization itself. |
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Term
| What are consumers behaviors three parts |
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Definition
| Individual, product, situation |
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Term
| The more risk the greater what? |
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Definition
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Term
| What are two sources of information. Examples? |
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Definition
| Internal and external. Internal is personal experience, External is word of mouth etc. |
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Term
| What does omnivore refer to? |
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Definition
| A personal who enjoys both "high-brow" and "low-brow" pieces. |
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Term
|
Definition
Earned Income
Corporations
i.e. Lexus Sponsors Winspear |
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Term
|
Definition
Private donations.
Individuals, Foundations
i.e. Ross Pero History and Science |
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Term
Arts Sponsorships are
succesful when . . . |
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Definition
you're target markets are similar
you're pitch is factual and non causal/artsy
has a written contract |
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Term
|
Definition
Cinflict of Itnerest
Reputation (both sides)
Intrusion on Arts Prodcut
Financial Risk |
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Term
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Definition
| Its unique consumer needs expressed through different behaviour |
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Term
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Definition
Variations in Consumer behaviour 1 segment to another
Segment Description (Socio-Dem, Personality/lifstyle, Buying Patterns,)
Segment Quantification (# of people, Socio Dem)
Segments Profitbaility (Earning> or = efforts)
Segment Stability (Takes Time) |
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Term
| Distribution in 3 parts . . . |
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Definition
Distribution Channel
Physical Distribution
Commercial Loation |
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Term
| Examples of Intermediaries . . . |
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Definition
| Producer, Agent, Wholesaler, Presenter, Retailer, Consumer |
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Term
|
Definition
Reduce # of Contacts
Ease Logistics (transportation, handling etc.)
Commercial (constract, promotions)
Support (lesser risk, financing, research)
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Term
Short Distribution Channel
v.
Long Distribution Channels |
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Definition
Short: Flexibility, Control, Lesse Prices
Longer: Diffusion, Specialization, Producer's lower cost |
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Term
|
Definition
Intensive - Many pieces. Penetration
Selective - Image, Uniqueness, Rarity. Skimming
Exclusive -
Push - Higher Profit via lesser advertising cost
Pull - Huge advertising costs but greate diffusion (often used) |
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Term
|
Definition
| Result of supply and dmenad expressed in $ |
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Term
|
Definition
How pricevariations affect consumer's ammount of purchase
Price Elastic: Slight increase in price = large decrease in sale or converse
Price Inelastic: Slight increase in price = small decrease in sales or converse |
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Term
|
Definition
High Price = Less Units
Percieved Higher Quality/Status
Price Inelastic |
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Term
|
Definition
Lower Cost = Higher Units
Great Diffusion and Competition
Price Elastic |
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Term
|
Definition
High Price
Used with known High Quality
Loyalty |
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Term
|
Definition
Segmented Pricing
Negotiated Prcing
Yield Management (airlines) |
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Term
|
Definition
Greater technological increase do not make our Arts market less expensive
(A quartet is always the same length)
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Term
|
Definition
Plays on Price, Place, Prodcut
i.e. Met Opera Playing in Muvico |
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Term
|
Definition
All logistics and transportation to bring product to end consumer |
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Term
|
Definition
Physical ite of purchase of consumptiion by end consumers |
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Term
|
Definition
Marketing Mix
↓
Promotion
↓
Advertising, Perosnal Selling, PR, Sales Promotion, Social Networks |
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Term
|
Definition
| Inform, persuade, and educate existing and potential customers and change their behaviour |
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Term
|
Definition
Impersonal means paid for to communcate to the target market and general public
(Simple Message , Limited Lifespan) |
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Term
|
Definition
COmmunication through directi contact between two or more persons
(Complex Message, Long Term) |
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Term
|
Definition
Evaluation of public attitudes and planning and executing programs of action to earn public acceptance
(Less Controled Message, Frequency) |
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Term
|
Definition
Discuont, Packages, Bonus Points |
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Term
|
Definition
(Affordable, Powerful, Little Control) |
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Term
|
Definition
Attention, Interest, Desire, Action |
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Term
Ignorance → Action Continuum |
|
Definition
Ignorance
Knowledge
Understanding
Convicition
Decision
Action
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Term
|
Definition
Corporate Mission
Corporate Objective
Marketing Objectives
Marketing Strategies |
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Term
|
Definition
Leader (dominates size, market share, #1)
Challenger (Main rival to leader)
Follower (Smaller market segment)
Specialist/Nicher (Original, Unique, Distinctive) |
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Term
Development Strategy
Ansoff Model
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|
Definition
Curent Market New Market
Current Product Market Penetration Market Development
New Product Product Development Diversification |
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Term
|
Definition
Product: Position
Price: Skimming, Penetration, Prestige, Dynamic
Distribution: Intensive, Selective, Elxclusive
Promotion: Push/Pull → Promotional tools |
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