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42 Cards in this Set
- Front
- Back
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The process of establishing and maintaining mutually beneficial exchange relationships with customers and other stakeholders.
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Marketing
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Marketing performs three business functions. What are they?
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1. Product Development Management
2.Customer Relationship Management 3. Supply Chain Management |
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What are the six types of value created by marketing?
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1. Form
2. Time 3. Place 4. Possession 5. Information 6. Service |
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What are the 4P's?
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Product, Price, Promotion, and Place
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True or False:
Break-Even Analysis includes unit Cost to Attract and Cost to Serve. |
True
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What are the four levels of a product?
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1. Core Product
2. Actual Product 3. Augmented Product 4. Desired Product |
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The quality level, features, design, packaging, and brand name of a product
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The Actual Product
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Actual Benefits received by a consumer for a product
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The Core Product
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Delivery and credit, warranty, and after-sale service associated with the product
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The Augmented Product
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The product consumers really want
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The Desired Product
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Products sold by one business to another to serve organizational needs
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Industrial Products
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Product designed to satisfy non-organizational, individual needs
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Consumer Products
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Products that are purchased frequently, immediately, and with minimum effort
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Convenience Products
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Products purchased only after comparisons with other products have been made
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Shopping Products
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Unique products that cause a buyer to prize them and make special efforts to obtain them
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Specialty Products
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If the product is existing and you are targeting existing customers, then the strategy you are using is a....
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Penetration Strategy
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If the product is new and you are targeting existing customers, then the strategy you are using is a ...
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Product Development Strategy
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If the product is existing and the customers you are targeting are new then the strategy you are using is a...
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Market Development Strategy
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If the product is new and the customers you are targeting are new then the strategy you are using is a...
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Diversification Strategy
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The six steps for the new product development process are:
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1. Idea Generation
2. Screening 3. Concept Development and Testing 4. Rough Marketing Strategy Development 5. Development 6. Test Marketing |
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True or False:
Low r-squared means good data. |
False, a high r-squared means good data
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True or False:
An r-squared of 1 is the best and 0 is the worst. |
True
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True or False:
A t-score of >=2 means it isn't significant. |
False: It means it is significant
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Name, symbol, or design used to identify the products and differentiate them from competitive offerings
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Brand
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The words or letters of the brands
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Brand Name
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Pictorial part of the brand
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Brand Mark
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A brand that has been given legally protected status exclusive to the owner
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Trademark
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A type of brand that a name becomes a generally descriptive term for a product
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Generic Brand
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Brand loyalty consists of three things. What are they?
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1. Brand recognition
2. Brand preference 3. Brand insistence |
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The added value to the firm, the channel, or the consumer with which a brand endows a product
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Brand Equity
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New products in unrelated product categories that often carry the same brand name
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Brand Extensions
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A product that has high market growth and high market share is a...
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Star
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A product that has low market growth but high market share is a...
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Cash Cow
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A product that has low market growth and low market share is a...
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Dog
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A product that has high market growth but low market share is a...
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Question Mark
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The strategy that involves improving market position (stars and question marks), Increasing promotion and adjusting price and distribution to improve performance.
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Build Strategy
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The strategy that involves remaining with current position (cash cows), and maintaining marketing effort.
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Hold Strategy
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The strategy that involves selling SBUs to gain a short-term increase in cash flow (cows and stars).
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Harvest Strategy
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The strategy that utilizes resources better (sell dogs). Withdraw marketing support.
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Disinvest Strategy
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Fill in this matrix:
Exisiting products New Existing Market ___1___ ___2__ New Market ___3___ __4__ |
1. Market Penetration
2.Product Development 3. Market Development 4. Diversification |
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To be effective, a segment must meet these criteria:
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1. The segment must be measurable
2. The segment must be reachable. 3. The segment must be profitable. 4. The segment must be relevant |
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What are the 5 bases for segmentation?
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1. Geography
2. Demographics 3. Pyschographics/Lifestyles 4. Usage 5. Benefit |
