Term
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Definition
| a name term design symbol or other feature that identifies a sellers products and differentiates them from competitors products |
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Term
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Definition
| marketing and finacial values of a brand |
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Term
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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 |
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Term
| aspects of brand loyality |
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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 |
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Term
| 5 traits of a brands personality |
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Definition
-sincerity: down to earth, honest, wholesome
-excitment: daring, spirited, up to date
-competence: reliable, successful
-sophisticated: upper class charming
-ruggedness: tough outdoorsey |
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Term
| elements of brand equity: |
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Definition
brand name awerness
perceived brand quality
brand loyalty
brand associations |
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Term
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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. |
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Term
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Definition
Bri-wees
Winks
Tenders
Tads
Solos
Zepher |
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Term
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Definition
Using two or more brands on one product to
capitalize on the brand equity (customer
confidence and trust) of multiple brands |
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Term
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Definition
Agreement to use brand on other products for
a fee |
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Term
| Packaging / Labeling: Color |
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Definition
blue, soothing
orange: Low cost
red: excitement
purple: royal
Warning lables-- avoid getting sued |
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Term
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Definition
| change packing or color and see how that improved the brand |
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Term
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Definition
intangible performance
cannot be physically possessed
ex: restaurants |
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Term
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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 |
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Term
| 3 aspects of customer contact |
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Definition
level of interaction
physical apperarance
customer orientation |
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Term
| customer contact: Level of interaction |
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Definition
| some services requires a lot of interation between the parties: ex: dentist |
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Term
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Definition
are they dressed appropratly? is the puilding professional
does it fit the requirements |
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Term
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Definition
| employees tendency or predispositions to meet the cutomers needs on the job |
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Term
| customer orientation: 4 aspects |
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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 |
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Term
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Definition
| contact time, fit, employee satisfaction, commitment, helping behaviors |
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Term
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Definition
credentals: docs and lawyers put up their credentials
rituals: duck ex
pleasure and pain (prospect theory) pain: 1 experience, pleasure: multiple experiences |
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Term
| promotion and pricing of serice |
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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 |
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Term
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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 |
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Term
| deliverieng exceptional service quality: 1985 (5 dimentions) |
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Definition
tnagibles
reliablirty
responsiveness
assurance
empathy |
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Term
| delivering exceptional Service quality: tangibles |
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Definition
| physical: judge quality, clean, outfits etc |
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Term
| delivering exceptional Service quality: reliability |
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Definition
| dependable accurate: ex: taxes done right |
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Term
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Definition
| rediness and willingness to serve you |
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Term
| delivering exceptional Service quality: Assurance |
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Definition
| make ppl feel confident that you are knowledgeable give curticy |
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Term
| delivering exceptional Service quality: empathy |
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Definition
| individual attnetion: feel special |
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Term
| delivering exceptional service quality |
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Definition
customer expectations: Ex- good v bad cashiere, outcome is the same but the process is a different experience
quality specifacations
employee performance |
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Term
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Definition
| internal service quality: employee satisfaction: employee loyality: external service quality: customer satisfaction: customer loyalty: revenue growth and profitability |
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Term
| services "winning organizations" qualities they have |
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Definition
long term focus
team work
lack of entitlement |
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Term
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Definition
| developemnt of a product that is closely related to existing products in the line but is designed specifically to meet differnet customer needs! |
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Term
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Definition
| changes in one or more characteristics of a product |
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Term
| phases of new product development |
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Definition
idea generation
screening
concept testing
business analysis
product developement
test marketing
commercialization |
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Term
| phases of new product development: idea generation |
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Definition
| seeking product ideas to ahcieve organizational objectives |
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Term
| phases of new product development: screening |
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Definition
| selecting the ideas with the greatest potential for further review |
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Term
| phases of new product developmentconcept testing |
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Definition
| seeking a sample of potential buyers responses to be a product idea |
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Term
| phases of new product development: business analysis |
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Definition
| evaluating the protential impact of a product idea on the firms sales costs and profits |
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Term
| phases of new product development: Product development |
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Definition
| determining if producting a product is feasible and cost effective |
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Term
| phases of new product development: test marketing |
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Definition
| a limited introduction of a product in geographic areas chosen to represent the intended market |
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Term
| phases of new product development: commercialization: |
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Definition
| refiningand finalizing plans and budgets for full scale manufacturing and marketing of a product |
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Term
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Definition
| creating and designing products so that customers perceive them as different from competing products |
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Term
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Definition
performance
features
reliability
durability
serviceability
aesthetics
conformance to specifications
perceived quality |
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Term
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Definition
| creating and maintaining a certain concept of a product in customers minds |
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Term
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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 |
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Term
| IMC: intergrated marketing communications |
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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 |
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Term
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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 |
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Term
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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" |
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Term
| Role or promotion in revenues and profits |
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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 |
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Term
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Definition
1. information and persuason
2. introduction of new brand or brand extensions
3. building and maintaining brandy loyalty among consumers |
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Term
| the communication process: communis |
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Definition
communis: common
source: coded message: medium of transmission: decoded message: reciever/audience-- feedback |
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Term
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Definition
-create awareness
-stimulate demand
-encourage product trial
all 3 relate to aida model |
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Term
| hierarchy of effect model |
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Definition
attention-interest-desire-action
Eddie murphey story |
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Term
| promotion objectives continued |
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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 |
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Term
| The promotion mix: 4 elements |
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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 |
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Term
| selecting a promotional mix |
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Definition
resources and objectives:
characteristics of the target market
characteristics of the product
costs and availibility
push v pull |
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Term
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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 |
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Term
| ethical issues in promtion |
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Definition
is promotion deceptive?
promotion increase prices?
advertising create needs?
advertising promotes materialism |
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