Final Set

Front 1

What is the difference between strategys and tactics

Back 1

Tactics change all the time strategys dont

Front 2

Focus Groups Qualitative or Quantitative

Back 2

Qualitiative

Front 3

Difference between Primary and Secondary

Back 3

They are two different types of survery; Primary you do yourself, secondary someone else does it.

Front 4

Why do we have operating charters?

Back 4

To make sure your on strategy, and define your parameters.

Front 5

What percentage of problems are due to poor systems

Back 5

94%

Front 6

What are 3 different types of mission statements

Back 6

1. Corporate

2. Working (the whole company should be able to say it)

3. Personal (your role within the working statement)

Front 7

Operating Charter

Back 7

1. Your scope

2. Primary objectives

3. Secondary objectives

4. Constraints

5. Aspirations

Front 8

What is more important to have perception superiority or product superiority

Back 8

Perception it is better to have people believe that your production is better.

Front 9

What does Branding do for a companie?

Back 9

1. Helps identify

2. Forms perceptions,

3. Describes what the company is/does

Front 10

Are brands about feeling or facts

Back 10

Feelings

Front 11

What does segmentation do for a company?

Back 11

Helps you figure out holes in the markets to meet consumer needs

Front 12

The 3 elements of the brand positioning statement are?

Back 12

1. Target audience

2. Benefit

3. Reason why

Front 13

Brand positioning=

Back 13

1. That's because

2. Kitchen logic why

3. Benefit needs emotional tie

Front 14

What two things to align

Back 14

Promise and expectation; dont undersell your product

Front 15

What is the product benefit

Back 15

It is psychological (perfumes that make you feel sexy) functional

Front 16

How many products that come into the market will be dead in the first 12 months

Back 16

8 out of 10

Front 17

Idea testing is the same as?

Back 17

Concept testing

Front 18

Testing concepts;

Back 18

1. Problem identification

2. Write the idea down

3. Test

Front 19

______ fast ______ cheap with concept testing

Back 19

Fail/Fail

Front 20

What do you do when a product has promise

Back 20

Go through test and retest this reduces the risk of failure by half every time you test

Front 21

What does marketing want to create with a company?

Back 21

Trust

Front 22

What is the law of gravitational marketing?

Back 22

In order to disrupt market equilibrium you must do something significantly different than what already exists

Front 23

Difference between brand extensions and Line Extensions

Back 23

Ex. Dove has a bar of soap, now deodorant, and body wash these are brand extensions. Because they are similar but not in the same product category.

Line Extensions are basically new flavors.

Front 24

Needs for a Brainstorming session

Back 24

1. Stimulus

2. Get away from the office

3. Stay away from brain drain

4. Have some outside people to get different perspectives

Front 25

When you decide to test a concept you worry about?

Back 25

1. New and different

2. Purchase intent

3. We want 70% for both

Front 26

Price discrimination

Back 26

When he price of something is constantly changing

Front 27

When you figure out the right price for something it is called?

Back 27

Price elasticity; how many can be sold, and then what is your cost at that quantity?

Front 28

______________ ______________ is like a matinee movie vs. normal price of the movie

Back 28

Price discrimination

Front 29

Life Currencies

Back 29

Anything that has value you to you that is not a product or currency

Front 30

Packaging should be:

Back 30

1. Functional

2. Tell benefits

Quality

Convenience

Sizes

Create product billboards in store

Front 31

Distribution

Back 31

Exclusivity=NOt everywhere

Ubiquity = everywhere

Front 32

Different channels:

Back 32

Grocery stores, military, school cafeterias are all different channels. ( you would communicate differently with each channel, size of the packaging is different. You'd send green beans to a school cafeteria differently than you would to grocery store, and even stores like costco.)

Front 33

What is a product mix?

Back 33

The variety of products you offer to your consumer. Figure out different products to meet consumer needs. One size fits all doesn't usually work expcept with toothpaste for some reason.

Ex. Band aid not just one little strip but now they have some for elbow, burns, fingers,etc.

Front 34

Big head long tail means what?

Back 34

250 items in grocery stores that make up 80% of sales is the big head. The long tail is everything else that isn't sold as much

Front 35

What should you do if you are trying to grow?

Back 35

Come up with new ways people can use your product.

Ex. Lunchables

Front 36

The 6 deadly sins

Back 36

1. Pride

2. Gloutony

3. Envy

4. Greed

5.Sloth

6. Wrath

7. Not a sin but Sex Sells

Front 37

Ad agencies

Back 37

Way to decide on one is through the "creatives" that they have on their team

Front 38

How is strategy different from "print" vs "tv"

Back 38

1. Print needs to have elements of brand positioning statement

2. TV needs to have more entertainment also needs to have emotional connection, product is the hero, and relevant yet unexpected.

Front 39

How long does it take a consumer to form an opinion of a website

Back 39

Blink of an eye 1/20 of a second

Front 40

How long does it take to form an opinion of a store

Back 40

3 seconds

Front 41

What is key for your website

Back 41

Trust indications (other big companies logos)

Front 42

Is social media a good or bad advertising channel

Back 42

Bad

Front 43

What can you do for advertising on social media?

Back 43

Give discounts

Front 44

What are some great ways to use social media

Back 44

1. Disappearing inventory

2. Timeliness

3. Drive trafic

Front 45

Factors to help you decide one when to post

Back 45

1. Timely

2. Actionable

3. Relevant

Front 46

Different ways to manipulate customers in store environment (disneyland is the king of this)

Back 46

1. Displays

2. Blocking

3. Lighting

4. Smells

5 color

6. Music

Front 47

Marketing Development Funds:

Back 47

Pat an law= all people are created equal. It is now based on how much you buy

Front 48

How much does a shelf display increase sales?

Back 48

4%

Front 49

How much does having both a off shelf and a on shelf display increase sales?

Back 49

13%

Front 50

How much does having a just a shelf display with a sale increase sales?

Back 50

7%

Front 51

How to have a great promotion

Back 51

1. Only you can offer it

2. Easy to enter

3. Believe that you ca win

Front 52

Cause related marketing

Back 52

Working with charity to help raise money

Front 53

How to use a sports sponsorship

Back 53

Keep 8-10$ for every dollar you spent on it to actually make use of it.

Front 54

If you are operating at 60% capacity should you start licensing stuff out?

Back 54

1. Yes

2. Lowers overhead cost

3. Excess manufacturing capacity

Front 55

Own a trademark

Back 55

You are the licensor

Front 56

4 micromonets

Back 56

1. I want to know

2. I want to do

3. I want to Go

4. I want to buy

Front 57

Key rating periods

Back 57

1.called sweets

2. February, September, Etc

Front 58

Gross rating points

Back 58

1. Reach

2. Frequency

Front 59

What are the metrics that you would measure for email campaining

Back 59

1. Open

2. Look through

3. Bounce

4 conversion