Business Marketing Test #2 Supplemental B

Front 1

Segmenting customers by their degree of _____ to a brand. Give example.

Back 1

Consumer loyalty
example: Apple die-hards

Front 2

What can be learned by analyzing loyalty patterns in its market.

Back 2

1- They can better pinpoint their target market.
2- They can better learn about their weaknesses.

Front 3

Products and services bought by final consumers for personal consumption.

Back 3

Consumer Products

Front 4

Name 4 types of consumer products

Back 4

1- convenience products
2- shopping products
3- specialty products
4- unsought products

Front 5

Products purchased for further processing or for use in conducting a business.

Back 5

Industrial Products

Front 6

Name 4 types of Industrial products

Back 6

1- purpose
2- Raw materials
3- Capital items
4- supplies and services

Front 7

consumer product and services that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort

Back 7

convenience products

Front 8

less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style

Back 8

shopping products

Front 9

consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

Back 9

specialty products

Front 10

consumer products that the consumer either does not know about or knows about but does not normally think of buying

Back 10

unsought products

Front 11

A detailed version of the new product idea stated in meaningful consumer terms.

Back 11

product concept

Front 12

Testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal

Back 12

concept testing

Front 13

a small number of representative test cities, conducts a full marketing campaign in these cities and uses store audits, consumer and distributor surveys, and other measures to gauge product performance

Back 13

Standard Test Marketing

Front 14

a panel of shoppers who report all of their purchases by showing an identification card at checkout in participating stores and by using a handheld scanner at home to record purchases at non-participating stores.

Back 14

Controlled Test Markets

Front 15

a simulated shopping environment. The company or research firm shows ads and promotions for a variety of products, including the new product being tested to a sample of consumers.

Back 15

Simulated Test Markets

Front 16

What is price?

Back 16

is the only element in the marketing mix that produces revenue; all other elements represent costs

Front 17

Pricing power

Back 17

the ability to escape price
compe//on and to jus/fy higher prices and margins
without losing market share

Front 18

_______ pricing is customer driven

Back 18

Value‐based

Front 19

_______ pricing is product driven

Back 19

Cost‐based

Front 20

_______ is the only element in the marketing mix that produces revenue

Back 20

price

Front 21

Satisfaction = _____ / ______

Back 21

Perceived Performance / Customer Expectations

Front 22

Break-even Volume = _____ / ______

Back 22

Fixed Cost / (Price - Variable Cost)

Front 23

Markup Price = ______ / ______

Back 23

Unit Cost / (1 - Desired Return on Sales)

Front 24

Unit Cost = _____ / _______

Back 24

Variable Cost + (Fixed Cost / Unit Cost)

Front 25

Why is it important to understand company and product costs in setting prices?

Back 25

Product costs set the floor for prices. If the company prices the product below its costs, company profits will suffer. In setting its prices between these two extremes.

Front 26

_____ do not vary with produc/on or
sales level
• Rent
• U/li/es
• Interest
• Salaries

Back 26

fixed costs (overhead)

Front 27

________ vary with the level of production
• Packaging
• Raw materials

Back 27

variable costs

Front 28

What sets the upper limits of pricing?

Back 28

customer perceptions

Front 29

What sets the lower limits of pricing?

Back 29

costs

Front 30

is used for customers in
different parts of the country or the world - give examples

Back 30

Geographical pricing
• FOB pricing
• Uniformed‐delivery pricing
• Zone pricing
• Basing‐point pricing
• Freight‐absorptin pricing

Front 31

____ means that the
goods are delivered to the carrier and the /tle and
responsibility passes to the customer

Back 31

FOB (free on board) pricing

Front 32

______ means the company
charges the same price plus freight to all customers, regardless of location

Back 32

Uniformed delivery pricing

Front 33

adjusting prices continually to meet the characteristics and need of individual customers and situations

Back 33

dynamic pricing -
ex - unique pricing for airline tickets online.

Front 34

pricing products differently for different global markets

Back 34

International pricing

Front 35

pricing low-value by-products to get rid of them

Back 35

by-product pricing

Front 36

Who spoke about horizontal segmentation and the plutonic dish (spaghetti sauce).

Back 36

Malcolm Gladwell

Front 37

What are the five components of supply chain management software?

Back 37

1- Plan
2- Source
3- Make
4- Deliver
5- Return

Front 38

What does an ERP system do?

Back 38

keeps inventory and systems integrated -
ERP Systems attempt enterprise-wide coordination of business processes by allowing (conceptually at least) all functional areas within a firm to access and analyze a common information
base.

Front 39

The cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries.

Back 39

disintermediation

Front 40

Purpose and goal of marketing logistics

Back 40

• Understand the customer
• Understand the supply chain
• Harmonize the supply chain with
the marketing strategy

Front 41

strategy used by producers of convenience products and common raw materials in which they stock their products in as many outlets as possible.
Ex - Snack foods and Personal care products

Back 41

Intensive Distribution

Front 42

strategy in which the producer gives only a limited number of dealers the exclusive right to distribute its products in their territories.
Ex - Luxury automobiles
High-end apparel

Back 42

Exclusive distribution

Front 43

An example of _________ would be how Russia and McDonald's of Canada partnered

Back 43

Joint Venture

Front 44

selling legal product that was placed into a channel it was not intended for.

Back 44

gray marketing

Front 45

What 4 things must be considered in order to go global?

Back 45

1- Global competition in the home market
2- Stagnant or shrinking home market
3- Foreign markets with more opportunity
4- Expansion of customers to international markets

Front 46

An example of ______ would be: Harley Davidson using an indirect intermediary to sell motorcycles in France

Back 46

Licensure

Front 47

limits on the amount of foreign imports a country will accept in certain product categories to conserve on foreign exchange and protect domestic industry and employment

Back 47

quotas

Front 48

a limit on the amount of foreign exchange and the exchange rate against other currencies

Back 48

exchange controls

Front 49

biases against bids or restrictive product standards that go against American product features

Back 49

Non-Tariff Trade Barriers

Front 50

involves selling the same products and using the same marketing approaches worldwide

Back 50

standardized marketing mix

Front 51

involves adjusting the marketing mix elements in each target market, bearing more const hopoing for a larger market share and ROI

Back 51

adapted marketing mix

Front 52

Tom Friedman, "Does Europe Really Hate the US?" says the rejection of Bush and American ideals in Europe is an example of

Back 52

Ethnocentrism