Chapter 14

Front 1

Marketing mix(4Ps of marketing):

Back 1

Product· Price· Place (distribution)Promotion

Front 2

Stages inproduct life cycle

Back 2

are introduction, growth,maturity and decline

Front 3

Brand name

Back 3

is a name of one or moreitems in a product line that identifies the source or character of the items

Front 4

Counterfeit goods

Back 4

areimitation products passed off as legitimate trademarks, patents or copyrightworks.

Front 5

Promotion mix

Back 5

comprises a company’sefforts to reach distribution channels and target customers throughcommunications, such as personal selling, advertising, public relations anddirect marketing.

Front 6

Pull strategy

Back 6

is a promotional strategydesigned to create buyer demand that will encourage channel members to stock acompany’s product

Front 7

Push strategy

Back 7

is a promotional strategydesigned to pressure channel members to carry a product and promote it to finalusers

Front 8

Marketing communication

Back 8

is a process of sending promotionalmessages about products to target markets.

Front 9

Noise

Back 9

is anything that disruptsthe audience’s ability to receive and interpret the promotional message

Front 10

Product extension/communications adaptation

Back 10

the same product andadapted promotion

Front 11

Product adaptation/communications extension

Back 11

adapted product and thesame promotion

Front 12

Product/communications adaptation (dualadaptation):

Back 12

adapting both the productand its marketing communication to suit the target market.

Front 13

Product invention

Back 13

requires that entirely newproduct be developed for the target market

Front 14

Distribution

Back 14

is planning, implementing,and controlling the physical flow of a product from its point of origin to itspoint of consumption

Front 15

Exclusive channel

Back 15

is one in which amanufacturer grants the right to sell its product to only one or a limitednumber of resellers

Front 16

Intensive channel

Back 16

is one in which a producergrants the right to sell its product to many resellers

Front 17

Value density

Back 17

is a value of a productrelative to its weight and volume

Front 18

Channel length

Back 18

refers to the number ofintermediaries between the producer and the buyer

Front 19

Worldwide pricing

Back 19

is a policy in which oneselling price is established for all international markets

Front 20

Dual pricing

Back 20

is a policy in which aproduct has a different selling price in export markets than it has in the homemarket

Front 21

Price escalation

Back 21

occurs when a product has ahigher selling price in the target market than it does in the home market

Front 22

Transfer price

Back 22

is a price charged for agood or service transferred among a company and its subsidiaries

Front 23

Arm’s length price

Back 23

is a free-market price thatunrelated parties charge one another for a specific product

Front 24

Price controls

Back 24

upper or lower limitsplaced on the prices of products sold within a country

Front 25

Dumping

Back 25

occurs when the price of agood is lower in export markets than it is in the domestic market