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104 Cards in this Set

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Advertising

impersonal, one-way mass communication about a product or organization that is paid for by a marketer

15-4 pg 277

Advertising appeal

a reason for a person to buy a product

16-3 pg 295

advertising objective

a specific communication task that a campaign should accomplish for a specified target audience during a specified period

16-3 pg 295

AIDA model

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

15-5 pg 282

bait pricing

a price tactic that tries to get consumers into a store through false or misleading price advertising and then uses high-pressure selling to persuade consumers to buy more expensive merchandise

20-6 pg 384

basing-point pricing

a pricing tactic that charges freight charges and does not pass them on to the buyer

20-3 pg 381

brands, types of

a brand is a name, term, symbol, design, or combination thereof that identifies a seller's products

10-4 pg 184

break-even analysis

a method of determining what sales volume must be reached before total revenue equals total costs

19-6 pg 365

cash discount

a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill

20-3 pg 379

channel intermediary

negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer.

14-1 pg 246

cognitive dissonance

inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions

6-3 pg 97

competitive advantage

a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition

2-6 pg 23

consumer penalty

an extra fee paid by the consumer for violating the terms of the purchase agreement

20-3 pg 386

contest

promotions in which participants use some skill or ability to compete for prizes

16-6 pg 310

continuous media schedule

a media scheduling strategy in which advertising is run steadily throughout the advertising period; used for products in the later stages of the product life cycle

16-4 pg 303

convenience sample

a form of nonprobability sample using respondents who are convenient or readily accessible to the researcher-for example, employees, friends, or relatives

9-2 pg 170

cooperative advertising

an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand

16-4 pg 298

corporate social responsibility

a business's concern for society's welfare

3-4 pg 41

coupon

a certificate that entitles consumers to an immediate price reduction when the product is purchased

16-6 pg 308

crisis management

a coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event

16-5 pg 306

CRM (Customer Relationship Management)

a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups

1-3 pg 11

cross-selling

selling a different product or service to an existing customer

17-3 pg 320

cumulative quantity discount

a deduction from list price that applies to the buyer's total purchases made during a specific period

20-3 pg 379

data mining

the process of discovering patterns in large data sets for the purpose of extracting knowledge and understanding human behavior

14-7 pg 268

diagnostic research

?

?

diversification

a strategy of increasing sales by introducing new products into new markets

2-3 pg 17

diversity sample

?

?

dumping

the sale of exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter

5-5 pg 86

elasticity of demand

consumers' responsiveness or sensitivity to changes in price

19-3 pg 359

empowerment

delegation of authority to solve customers' problems quickly-usually by the first person the customer notifies regarding a problem

1-3 pg 10

escalator pricing

a price tactic in which the final selling price reflects cost increases incurred between the time the order is placed and the time delivery is made

20-5 pg 388

ethnic group purchasing power

?

?

exchange rates

the price of one country's currency in terms of another country's currency

5-5 pg 86

fixed cost

a cost that does not changes as output is increased or decreased

19-5 pg 362

flexible pricing (variable pricing)

a price tactic in which different customers pay different prices for essentially the same merchandise bought in equal quantities

20-3 pg 382

flighted media schedule

a media scheduling strategy in which ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times

16-4 pg 303

FOB origin pricing

a price tactic that requires the buyer to absorb the freight costs from the shipping point ("free on board")

20-3 pg 381

frame error

an error that occurs when a sample drawn from a population differs from the target population

9-2 pg 170

freight absorption pricing

a price tactic in which the seller pays all or part of the actual freight charges and does not pass them on to the buyer

20-3 pg 381

frequency

the number of times an individual is exposed to a given message during a specific period

16-4 pg 302

frequent buyer program

a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service

16-6 pg 309

income-discretionary, disposable

the income after tax that consumers use to afford the "good life"

4-5 pg 59

inelastic demand

a situation in which an increase or a decrease in price will not significantly affect demand for the product

19-3 pg 359

inform

?

?

institutional advertising

a form of advertising designed to enhance a company's image rather than promote a particular product

16-2 pg 293

interaction

the point at which a customer and a company representative exchange information and develop learning relationships

17-3 pg 316

keystoning

the practice of marking up prices by 100 percent, or doubling the cost

19-5 pg 364

lead qualification

determination of a sales prospect's (1) recognized need, (2) buying power, and (3) receptivity and accessibility

17-4 pg 322

legal environment

?

?

market development

a marketing strategy that entails attracting new customers to existing products

2-2 pg 16

market penetration

a marketing strategy that tries to increase market share among existing customers

2-2 pg 16

markup pricing

the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for

19-5 pg 364

media mix

the combination of media to be used for promotional campaign

16-4 pg 301

media planning

the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience

16-4 pg 298

media schedule

designation of the media, the specific publications or programs, and the insertion dates of advertising

16-4 pg 303

noise

anything that interferes with, distorts, or slows down the transmission of information

15-2 pg 274

nonprobability samples

any sample in which little or no attempt is made to get a representative cross section of the population

9-2 pg 170

penetration pricing

a pricing policy whereby a firm charges a relatively low price for a product initially as a way to reach the mass market

20-1 pg 375

personal selling

a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other

15-4 pg 279

point-of-purchase display

a promotional display set up at the retailer's location to build traffic, advertise the product, or induce impulse buying

16-6 pg 311

point-of-sale interaction

a touch point in stores or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated

17-3 pg 317

predatory pricing

the practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market

20-2 pg 378

predictive modeling

?

?

premium

an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product

16-6 pg 309

price bundling

marketing two or more products in a single package for a special price

20-3 pg 384

price fixing

an agreement between two or more firms on the price they will charge for a product

20-2 pg 376

price skimming

a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion

20-1 pg 374

pricing objective

(1) profit-oriented pricing
(2) sales oriented pricing
(3) status quo pricing

19-2 pg 355

primary research

?

?


probability sample

a sample in which every element in the population has a known statistical likelihood of being selected

9-2 pg 170

product attribute

?

?

product benefit

what consumers will receive or achieve by using the product

16-3 pg 295

product development

a marketing strategy that entails the creation of new products for present markets

11 pg 194-211


pg 17

product placement

a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the internet; or at special events

16-5 pg 305

profit maximization

a method of setting prices that occurs when marginal revenue equals marginal cost

19-5 pg 364

promotion budgeting

?

?

promotional strategy

a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media

15-1 pg 270

public relations

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.

15-4 pg 277

publicity

public information about a company, product, service, or issue appearing in the mass media as a news item

15-4 pg 278

pull strategy

a marketing strategy that stimulates consumer demand to obtain product distribution

15-7 pg 288

pulsing media schedule

a media scheduling strategy that uses continuous scheduling throughout the year coupled with a flight schedule during the best sales periods

16-4 pg 303

push strategy

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise

15-7 pg 288

random sample

a sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample

9-2 pg 170

rebate

a cash refund given for the purchase of a product during a specific period

16-6 pg 309

repositioning

changing consumers' perceptions of a brand in relation to competing brands

8-9 pg 157

sales promotion

marketing activities-other than personal selling, advertising, and public relations-that stimulate consumer buying and dealer effectiveness

15-4 pg 278

sampling

a promotional program that allows the consumer the opportunity to try a product or service for free

16-6 pg 310

secondary research

?

simple random sample

every member of the population has a known and equal chance of selection

9-2 pg 171

social commerce

a subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services

18-1 pg 335

social media objectives

(1) listen and learn
(2) build relationships and awareness
(3) promote products and services
(4) manage your reputation
(5) improve customer service

18-2 pg 338

status quo pricing

a pricing objective that maintains existing prices or meets the competition's prices

19-2 pg 357

stratified random sample

the population is divided into mutually exclusive groups; then random samples are drawn from each group

9-2 pg 171

survey types

(1) in-home personal interviews

(2) mall intercept interviews


(3) central-location telephone interviews


(4) self-administered and one-time mail surveys


(5) mail panel surveys


(6) executive interviews


(7) focus groups

9-2 pg 163

trade allowance

a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers

16-6 pg 308

trade sales promotion

promotion activities directed to members of the marketing channel, such as wholesalers and retailers

16-6 pg 307

two-part pricing

a price tactic that charges two separate amounts to consume a single good or service

20-3 pg 386

unbundling

reducing the bundle of services that comes with the basic product

20-3 pg 385

uniform delivered pricing

a price tactic in which the seller pays the actual freight charges and bills every purchase an identical, flat freight charge

20-3 pg 381

unique selling proposition

a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign

16-3 pg 296


unitary elasticity

a situation in which total revenue remains the same when prices change

19-3 pg 359

usage-rate based segmentation

dividing a market by the amount of product bought or consumed

8-4 pg 149

yield management systems

a technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by limiting early sales at these discounted prices, and overbooking capacity

19-4 pg 362

zone pricing

a modification of uniform delivered pricing that divides the United States (or the total market) into segments or zones and charges a flat freight charge to all customers in a given zone

20-3 pg 381