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Definition
| A role of PR. Art or science of building favorable interest to create a buzz and get your message across through media channels. |
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| Public Relations P.R. definition: |
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Definition
| Art or science of building good relations and communicating with various publics to increase awareness and help promote brand. |
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Definition
| Name, term, sign or symbol used to identify goods and services |
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Definition
| Most basic cause of a persons wants and behaviors |
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| 4 Consumer Characteristics: |
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Definition
Cultural Psychological Pesonal Social |
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Definition
| Actual and potential customers |
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Definition
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| 4 Consumer Segmentation Variables: |
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Definition
Demographic (most popular) Psycographic Behavioral Geographic |
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Term
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Definition
| Attract new customers and maintain and grow current customers |
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| How is a product perceived by consumers in relation to its competition? |
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Definition
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| Who is the decision making unit of a buying organization? |
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Definition
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Definition
| Managing profitable customer relationships |
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Definition
| More than 1 exchange with a customer |
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| Who should a new product target? |
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Definition
| Early adopters and Innovators |
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| 5 Steps of the adoption process: |
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Definition
Awareness Interest Evaluation Trial Adoption |
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Definition
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Definition
Core - most basic Actual Augmented |
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| How do you lengthen a product line? |
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Definition
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| A powerfull brand gives a company power to build a strong foundation and gives the company what? |
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Definition
| Brand Loyalty (Loyal Customers) |
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| What is competitive analysis? |
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Definition
| Process of defining a competitors strengths and weaknesses |
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| Who is the market leader? |
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Definition
| Company with the largest market share |
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Term
| If your company is market and customer focussed, it is what? |
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Definition
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| How do you gain competitive advantage? |
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Definition
| Give more value and satisfaction to target customers |
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Term
Marketing Communication Mix aka ? Consists of what 2 things? |
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Definition
Promotion Mix Advertising and Sales Promotion |
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Term
| IMC or Integrated Marketing Communication does what? |
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Definition
| Integrates all communication channels |
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Definition
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Term
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Definition
Product Price Place Promotion |
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Term
| Mass communication tools: |
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Definition
| advertising, promotion, public relations |
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| Direct Communication Tools: |
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Definition
| Personal Selling and Direct Marketing |
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Term
| What are sales promotions? |
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Definition
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| 4 Market Roles of Competetive Advantage: |
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Definition
Market Leader Market Follower Market Challenger Market Nicher |
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Definition
Asses your companies strengths and weaknesses S - Strengths W - Weaknesses O - Opportunities T - Threats |
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4 Types of consumer products: Define each: |
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Definition
Convienience - bought reguarky without planning Shopping - bought less, more expensive Specialty - high priced, exclusive locations Unsought - New or unaware |
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| 1st step of marketing process: |
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Definition
| understand customers and market place |
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Definition
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| Is customer perception considered reality? |
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Definition
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T/F Products are both tangible and intangible. |
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Definition
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Term
| What is customer behavior? |
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Definition
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| What is the difference between a consumer and business product? |
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Definition
Based on its intended use. Consumer - bought by consumers Business - bought by business |
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Term
| 3 Steps in the target marketing process: |
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Definition
Segmentation Target Marketing Market Positioning |
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| Does a company benefit from competition? |
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Definition
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Term
T/F Brand equity is a valuable asset. |
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Definition
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| 3 levels of brand positioning; |
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Definition
Product Attributes Benefits Values and Beliefs (highest level) |
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T/F The strongest brands are positioned on the highest levels (values and beliefs). |
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Definition
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Term
| 2 basic promotion mix strategies: |
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Definition
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T/F The internet uses the pull strategy? |
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Definition
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Definition
Attention Interest Desire Action |
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Term
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Definition
Advertising Sales Promotion Direct Marketing Public Relations Personal Selling |
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Promotion Mix + Marketing Mix= aka Marketing Communication Mix + 4 P's= |
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Definition
IMC Integrate Marketing Mix |
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