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14 Cards in this Set
- Front
- Back
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Please explain the 5 steps ofMarketing Research Process: |
D--D--C--D--T *Define the Problem *Develop the Research Plan *Collect Relevant Information *Develop Findings *Take Marketing Actions |
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New Product Development Process: |
N--I--S--B--D--M--C *New Product Development *Idea Generation *Screening and Evaluation *Business Analysis *Developmental *Market Targeting *Commercialization |
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4 stages of the Product Life Cycle: |
I--G--M--D |
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What are the 3 forms of Marketing Channels? |
*Intensive *Exclusive *Selective |
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Market Segmentation
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Aggregates potential buyers into groups that have common needs and will respond similarly to a marketing action.
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Consumer Products
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Products purchased by the ultimate consumer.
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Brand Name
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Any word, device or combination of these used to distinguish a seller's goods or services.
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Sales Forecast
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The total sales of a product that a firm expects to sell during a specified time period under specified conditions.
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80/20 Rule
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The idea that 80% of a firm's sales are obtained from 20% of its customers.
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Product Mix
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All the product lines offered by a company.
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Price
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The money or other considerations exchanged for the ownership or use of a product or service.
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Multiproduct Brandings
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Abranding strategy in which a company uses one name for all its products in a product class.
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Supply Chain
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The various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users.
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Brokers
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Independent firms or individuals whose main function is to bring buyers and sellers together to make sales.
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