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70 Cards in this Set
- Front
- Back
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Brand
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is a name, term, symbol, design, or combination thereof that identifies a seller's product and differentiates them from competitors' products
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Brand Equity
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refers to the value of company and brand names
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Co-branding
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Placing two or more brand names on a product or its package
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Consumer product
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A product bought to satisfy an individual's personal wants
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labeling
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Printed info appearing on or w/ the package.
Performs several functions: Identifies product or brand, describes several things about the product, promotes product through attractive graphics |
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service
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The result of applying human or mechanical efforts to people or objects
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Product
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Everything, both favorable and unfavorable, that a person receives in an exchange
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Product Line
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A group of closely related product items
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Product Mix
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All products that an organization sells
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Product line depth
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The number of product items in a product line
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Trademark
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The exclusive right to use a brand or part of a brand
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Brand loyalty
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A consistent preference for one brand over all others
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Global brand
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A brand where at least one-third of the product is sold outside its home country or region
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Adopter373
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a consumer who was happy enough with his or her trial experience with a product to use it again
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Product development366
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A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies
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Product life cycle376
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A biological metaphor that traces the stages of a product's acceptance, from its introduction (birth) to its decline (death)
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test marketing368
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the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
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Diffusion373
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The process by which the adoption of an innovation spreads
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Innovation373
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A product perceived as new by a potential adopter
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Marketing Channel389
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A set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer
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Supply chain management399
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A management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source, to the point of consumption, resulting in enhanced customer and economic value.
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Name 4 marketing channels for consumer products395
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Consumer channels:
1.Direct 2.Retail 3.Wholesaler Business channels: 4.Industrial |
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Supply chain399
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The connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function
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What are supply chain managers responsible for?399
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to coordinate and integrate the activities performed by supply chain members into a collection of seamless end-to-end processes, ultimately giving supply chain managers "total visibility" of the supply chain both inside and outside the firm
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Name and discuss five key benefits of supply chain management401
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1. report lower inventory, transportation, warehousing, & packaging costs
2. greater supply chain flexibility 3. improved customer service 4. higher revenues 5. Direct relation toward profitability |
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Logistics Information System407
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the link that connects all of the logistics components of the supply chain
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Name and discuss the four trends in supply chain management411-416
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1. Global- Many companies are looking globally for their sourcing and procurement needs. 2. Advanced technology- computer technology increases efficiency. 3. Third-party logistics allow companies to focus on core business functions. 4. electronic distribution of products and services collapses the supply chain
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Name the 6 steps involved with the basic supply chain?406-411
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1) sourcing and procurement of raw materials and supplies. 2)production scheduling. 3)order processing. 4)inventory management and control. 5)warehousing and materials-handling. 6)transportation
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Advertising490
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defined as any form of impersonal, paid communication in which the sponsor or company is identified
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AIDA concept482
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(Attention Interest Desire Action)- a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action
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Competitive concept472
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the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition
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promotion472
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communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion
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Promotion mix479
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the combination of promotional tools -- including advertising, public relations, personal selling, and sales promotion--used to reach the target market and fulfill the organization's overall goals
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What is the impact of Web 2.0 on marketing communication?475-476
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Empowered the consumers, allowed for communication between consumers to other consumers, the company, and web communities
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Public relations480
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marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance
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Personal Seling480
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a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other
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Sales promotion481
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consists of all marketing activities-other than personal selling, advertising, and public relations- that stimulate consumer purchasing and dealer effectiveness
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Integrated marketing communications484
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the careful coordination o all promotional messages for a product or service to assure the consistency of messages at every contact point where a company meets the consumer
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What factors affect the selection of the promotional mix?479-481
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Mode of communication, communicator control over situation, amount of feedback, speed of feedback, direction of message flow, control over message content, identification of sponsor, speed in reaching large audience, message flexibility
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Define institutional advertising and provide and example493
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a form of advertising designed to enhance a company's image rather than promote a particular product
ex. when time warner dropped AOL and hired advertising company to reposition the brand as a whole |
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Define product advertising. Name 3 types of product advertising and provide an example of each493
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A form of advertising that touts the benefits of a specific good or service
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Advertising campaign496
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a series of related advertisements focusing on a common theme, slogan, and set of advertising
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What are the common advertising appeals that are used to build campaigns?498
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Profit, Health, Love or romance, fear, Admiration, Convenience, Fun and Pleasure, Vanity & Egotism, Environmental Consciousness
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Define promotion and discuss its role in a company's marketing mix471/72
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communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
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What are the 3 basic tasks of promotion? Give examples of how these are accomplished478-479
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Informing
Persuading Reminding |
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Promotional mix is made up of a blend of 4 promotional tools. Name and briefly define each of these 4 tools479
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Advertising
Public Relations Sales Promotion Personal selling |
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Describe promotional strategies used in each stage of the product life cycle486
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introduction-
Growth- Maturity- Decline- |
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explain why new brands with small market share tend to spend proportionately more for advertising and sales promotion than those with large market share490
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advertising response function- phenomenon that no matter how much advertising is purchase, the market share will still decrease creating diminishing returns
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Name the six major advertising media. List 2 advantages and 2 disadvantages associated with the use of each502-508
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Newspapers
Magazines Radio Television Outdoor Media Internet |
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Products can be classified as either business/industrial or consumer products. explain difference and tell why important333
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business-used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
consumer product- a product bought to satisfy an individual's personal wants |
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Name and briefly define the 4 categories of consumer products. For each category, list 3 specific examples of products334-35
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convenience products
shopping products specialty products unsought products |
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What purposes does branding serve?341
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product identification, repeat sales, new product sales
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Describe how and why product warranties are important marketing tools350-351
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the long run guarantee of the quality of a product that warranties suggest attract customers
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describe how multinational corporations can most efficiently and effectively meet the needs of the global market372-373
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BEginning with a global strategy. Design every product for potential worldwide distribution, and unique market requirements are built in whenever possible
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There are 5 categories of adopters that participate in the diffusion process. Name and briefly describe each of these five categories in the correct order from earliest adopter to last adopter 373-374
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Innovators- first 2.5%, obsessed with trying new
Early Adopters- next 13.5%, rely more on group norms Early Majority- 34%, weighs pros and cons Late Majority- 34%, adopt because of friends Laggards- 16%, independence rooted in their ties to tradition |
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list the four stages of the product life cycle and discuss the typical characteristics for each stage376-379
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Introduction- full-scale launch into market
Growth- sales grow, competitors enter market Maturity- sales increase at a decreasing rate Decline- long run drop in sales |
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Name the 6 categories of new products and provide an example for each category362
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New product lines
Additions to existing product lines Improvements or revisions of existing products Repositioned products Lower-priced products |
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name and discuss the seven step process for each new product development cycle363
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New product strategy
Idea generation Idea screening BUsiness analysis Development Test Marketing Commercialization |
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Cause related marketing 528
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A type of sponsorship involving the association of a for-profit company and a nonprofit organization; through the sponsorship, the company's product or service is promoted
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public relations525
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The marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance
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publicity525
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public information about a company, product, service, or issue appearing in the mass media as a news item
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relationship selling542
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A sales practice that involved building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships
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sales promotion530
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marketing communication activities, other than advertising, personal selling, and public relations, in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value
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Consumer sales promotion seeks to reach new users, keep current users, and entice users to stock up. It can also be used to reinforce advertising for the good or service. Name and define five consumer sales promotional tools539
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Trade allowance
push money training free merchandise store demonstrations |
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Discuss the customer and product conditions that suggest personal selling is more important than advertising and sales promotion540
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1.Detail explanation or demonstration of product
2. Sales message varied according to motivations & interests of customer 3. Can be directed only to qualified customers 4. selling costs controlled by size of sales force 5. more effective in obtaining sale and satisfying customer |
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product placement526
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a strategy that involves getting one's product, service, or name to appear in a movie, television show, radio program, etc.
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sponsorships527
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a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objective, such as improving brand awareness or enhancing corporate image
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name and discuss the 7 most common forms of consumer sales promotion. Provide an example of each form538
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Coupons & rebates, premiums, loyalty marketing program, contests and sweepstakes, sampling, P-O-P, online
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personal selling540
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direct communication between a sales representative and one or more prospective buyers in an attempt to influence each other in a purchase situation
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can advertising and publicity work together? Why/why not? Provide an example to support you response525-526
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Yes, public relations can guide the image advertisements wish to promote
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