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19 Cards in this Set

  • Front
  • Back

Choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted markets

Marketing Mix

Identifying groups of consumers whose purchasing behavior differs from others in important ways

Market Segmentation

A retail system in which a few retailers supply most of the market

Concentrated Retail System

A retail system in which there are many retailers, no one of which has a major share of the market

Fragmented Retail System

The number of intermediaries that a product has to go through before it reaches the final consumer

Channel Length

A distribution channel that outsiders find difficult to access

Exclusive Distribution Channel

The expertise, competencies, and skills of established retailers in a nation, and their ability to sell and support the products of international businesses

Channel Quality

Effects that occur when the receiver of the message (i.e. a potential consumer) evaluates the message on the basis of status or image of the sender

Source Effects

A subset of source effects, or the extent to which the place of manufacturing influences product evaluations

Country of Origin Effects

The amount of other messages competing for a potential consumer's attention

Noise

A marketing strategy emphasizing personal selling rather than mass media advertising

Push Strategy

A marketing strategy emphasizing mass media advertising as opposed to personal selling

Pull Strategy

A measure of how responsive demand for a product is to changes in price

Price Elasticity of Demand

A small change in price produces a large change in demand

Elastic

When a large change in price produces only a small change in demand

Inelastic

The concept containing the three aspects: predatory pricing, multipoint pricing, and experience curve pricing

Strategic Pricing

Reducing prices below fair market value as a competitive weapon to drive weaker competitors out of the market ("fair" being cost plus some reasonable profit margin)

Predatory Pricing

Occurs when a pricing strategy in one market may have an impact on a rival's pricing strategy in another market

Multipoint pricing

Aggressive pricing designed to increase volume and help the firm realize experience curve economies

Experience Curve Pricing