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22 Cards in this Set
- Front
- Back
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Marketing Mix
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an organization’s strategic and tactical decisions relating to its P/S offerings, pricing, distribution, and marketing communication efforts and approaches
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Marketing mix areas
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Price
Product Place --> Distribution Promotion --> Communication |
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Predetermined Purchase List
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the ranking of P/S that purchasers develop for all the options available when making a purchase decision
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Brand Success Pyramid
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- product attributes
- product benefits - emotional commitment |
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fundamentals prior to finalizing a pricing decision
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1. analyze critical cost structure components
2. understand competitors' cost structures 3. analyze price elasticity that exists 4. determine degree of value proposition strength |
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Price Elasticity
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the change in demand that is anticipated to occur at the various price points the organization is considering for its P/S
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Consumer Price Threshold
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the maximum price point that the customer is willing to pay for a P/S
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Payback Period
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the length of time required to recover or earn back the cost of an investment
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Direct Distribution
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the organization intends to connect directly with its customers to handle the final sale of its P/ delivery of S without the assistance of a channel intermediary
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Channel Intermediary
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an organization that assists a company in the distribution and delivery of goods/services to its customers
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Indirect Distribution
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implies the use of a channel intermediary (broker, wholesaler, retailer) to facilitate the sales of an organization’s P/S to the customer
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Mixed Distribution Systems
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incorporate direct & indirect distribution options within their distribution strategy
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Private Label Brands
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products that are created by 1 company for sale by another company under this latter company’s own brand name
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Multi-channel Distribution
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orgs that incorporate a number of different channel connections through which customers can purchase a P/S
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Intensive Distribution
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a decision by an organization to distribute the P/S through as many locations/channel outlets as possible
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Convenience Goods
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goods purchased by customers on a regular basis, with minimum effort and little emotional connection
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Selective Distribution
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a decision by an organization to sell its P/S through a limited number of channel intermediaries
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Exclusive Distribution
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a decision by an organization to offer its P/S through a single market representative
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Profit Leaks
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inefficiencies within an organization’s marketing mix that result in margin erosion and loss of profit
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Message Rifling
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a focused message, driven by a well-defined and developed value proposition, that is targeted specifically at a defined audience
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Product Life Cycle
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1. development
2. introduction 3. growth 4. maturity 5. decline |
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Factors that drive the product life cycle
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- unit margin potential, ROIC
- repurchase rate - product enhancement |
