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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 |
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Identifying groups of consumers whose purchasing behavior differs from others in important ways |
Market Segmentation |
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A retail system in which a few retailers supply most of the market |
Concentrated Retail System |
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A retail system in which there are many retailers, no one of which has a major share of the market |
Fragmented Retail System |
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The number of intermediaries that a product has to go through before it reaches the final consumer |
Channel Length |
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A distribution channel that outsiders find difficult to access |
Exclusive Distribution Channel |
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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 |
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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 |
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A subset of source effects, or the extent to which the place of manufacturing influences product evaluations |
Country of Origin Effects |
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The amount of other messages competing for a potential consumer's attention |
Noise |
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A marketing strategy emphasizing personal selling rather than mass media advertising |
Push Strategy |
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A marketing strategy emphasizing mass media advertising as opposed to personal selling |
Pull Strategy |
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A measure of how responsive demand for a product is to changes in price |
Price Elasticity of Demand |
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A small change in price produces a large change in demand |
Elastic |
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When a large change in price produces only a small change in demand |
Inelastic |
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The concept containing the three aspects: predatory pricing, multipoint pricing, and experience curve pricing |
Strategic Pricing |
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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 |
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Occurs when a pricing strategy in one market may have an impact on a rival's pricing strategy in another market |
Multipoint pricing |
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Aggressive pricing designed to increase volume and help the firm realize experience curve economies |
Experience Curve Pricing |