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104 Cards in this Set
- Front
- Back
- 3rd side (hint)
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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 |
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Advertising appeal |
a reason for a person to buy a product |
16-3 pg 295 |
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advertising objective |
a specific communication task that a campaign should accomplish for a specified target audience during a specified period
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16-3 pg 295 |
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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
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15-5 pg 282 |
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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
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20-6 pg 384 |
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basing-point pricing |
a pricing tactic that charges freight charges and does not pass them on to the buyer
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20-3 pg 381 |
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brands, types of |
a brand is a name, term, symbol, design, or combination thereof that identifies a seller's products
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10-4 pg 184 |
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break-even analysis |
a method of determining what sales volume must be reached before total revenue equals total costs
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19-6 pg 365 |
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cash discount |
a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill
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20-3 pg 379 |
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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.
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14-1 pg 246 |
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cognitive dissonance |
inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
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6-3 pg 97 |
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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
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2-6 pg 23 |
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consumer penalty |
an extra fee paid by the consumer for violating the terms of the purchase agreement
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20-3 pg 386 |
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contest |
promotions in which participants use some skill or ability to compete for prizes
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16-6 pg 310 |
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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
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16-4 pg 303 |
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convenience sample |
a form of nonprobability sample using respondents who are convenient or readily accessible to the researcher-for example, employees, friends, or relatives
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9-2 pg 170 |
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cooperative advertising |
an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand
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16-4 pg 298 |
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corporate social responsibility |
a business's concern for society's welfare
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3-4 pg 41 |
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coupon |
a certificate that entitles consumers to an immediate price reduction when the product is purchased
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16-6 pg 308 |
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crisis management |
a coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event
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16-5 pg 306 |
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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 |
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cross-selling |
selling a different product or service to an existing customer
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17-3 pg 320 |
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cumulative quantity discount |
a deduction from list price that applies to the buyer's total purchases made during a specific period
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20-3 pg 379 |
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data mining |
the process of discovering patterns in large data sets for the purpose of extracting knowledge and understanding human behavior
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14-7 pg 268 |
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diagnostic research |
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diversification |
a strategy of increasing sales by introducing new products into new markets
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2-3 pg 17 |
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diversity sample |
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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 |
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elasticity of demand |
consumers' responsiveness or sensitivity to changes in price
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19-3 pg 359 |
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empowerment |
delegation of authority to solve customers' problems quickly-usually by the first person the customer notifies regarding a problem
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1-3 pg 10 |
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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
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20-5 pg 388 |
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ethnic group purchasing power |
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exchange rates |
the price of one country's currency in terms of another country's currency
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5-5 pg 86 |
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fixed cost |
a cost that does not changes as output is increased or decreased
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19-5 pg 362 |
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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 |
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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
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16-4 pg 303 |
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FOB origin pricing |
a price tactic that requires the buyer to absorb the freight costs from the shipping point ("free on board")
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20-3 pg 381 |
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frame error |
an error that occurs when a sample drawn from a population differs from the target population
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9-2 pg 170 |
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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
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20-3 pg 381 |
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frequency |
the number of times an individual is exposed to a given message during a specific period
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16-4 pg 302 |
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frequent buyer program |
a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service
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16-6 pg 309 |
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income-discretionary, disposable |
the income after tax that consumers use to afford the "good life"
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4-5 pg 59 |
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inelastic demand |
a situation in which an increase or a decrease in price will not significantly affect demand for the product
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19-3 pg 359 |
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inform |
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institutional advertising |
a form of advertising designed to enhance a company's image rather than promote a particular product
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16-2 pg 293 |
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interaction |
the point at which a customer and a company representative exchange information and develop learning relationships |
17-3 pg 316 |
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keystoning |
the practice of marking up prices by 100 percent, or doubling the cost
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19-5 pg 364 |
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lead qualification |
determination of a sales prospect's (1) recognized need, (2) buying power, and (3) receptivity and accessibility
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17-4 pg 322 |
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legal environment |
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market development |
a marketing strategy that entails attracting new customers to existing products
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2-2 pg 16 |
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market penetration |
a marketing strategy that tries to increase market share among existing customers
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2-2 pg 16 |
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markup pricing |
the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for
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19-5 pg 364 |
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media mix |
the combination of media to be used for promotional campaign
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16-4 pg 301 |
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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
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16-4 pg 298 |
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media schedule |
designation of the media, the specific publications or programs, and the insertion dates of advertising
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16-4 pg 303 |
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noise |
anything that interferes with, distorts, or slows down the transmission of information
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15-2 pg 274 |
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nonprobability samples |
any sample in which little or no attempt is made to get a representative cross section of the population
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9-2 pg 170 |
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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
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20-1 pg 375 |
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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 |
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point-of-purchase display |
a promotional display set up at the retailer's location to build traffic, advertise the product, or induce impulse buying
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16-6 pg 311 |
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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
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17-3 pg 317 |
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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
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20-2 pg 378 |
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predictive modeling |
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premium |
an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product
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16-6 pg 309 |
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price bundling |
marketing two or more products in a single package for a special price
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20-3 pg 384 |
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price fixing |
an agreement between two or more firms on the price they will charge for a product
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20-2 pg 376 |
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price skimming |
a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion
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20-1 pg 374 |
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pricing objective |
(1) profit-oriented pricing
(2) sales oriented pricing (3) status quo pricing |
19-2 pg 355 |
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primary research |
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probability sample |
a sample in which every element in the population has a known statistical likelihood of being selected
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9-2 pg 170 |
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product attribute |
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product benefit |
what consumers will receive or achieve by using the product
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16-3 pg 295 |
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product development |
a marketing strategy that entails the creation of new products for present markets |
11 pg 194-211 pg 17 |
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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 |
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profit maximization |
a method of setting prices that occurs when marginal revenue equals marginal cost
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19-5 pg 364 |
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promotion budgeting |
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promotional strategy |
a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media
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15-1 pg 270 |
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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 |
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publicity |
public information about a company, product, service, or issue appearing in the mass media as a news item
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15-4 pg 278 |
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pull strategy |
a marketing strategy that stimulates consumer demand to obtain product distribution
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15-7 pg 288 |
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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
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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
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15-7 pg 288 |
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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
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9-2 pg 170 |
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rebate |
a cash refund given for the purchase of a product during a specific period
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16-6 pg 309 |
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repositioning |
changing consumers' perceptions of a brand in relation to competing brands
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8-9 pg 157 |
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sales promotion |
marketing activities-other than personal selling, advertising, and public relations-that stimulate consumer buying and dealer effectiveness
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15-4 pg 278 |
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sampling |
a promotional program that allows the consumer the opportunity to try a product or service for free
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16-6 pg 310 |
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secondary research |
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simple random sample |
every member of the population has a known and equal chance of selection |
9-2 pg 171 |
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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
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18-1 pg 335 |
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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 |
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status quo pricing |
a pricing objective that maintains existing prices or meets the competition's prices
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19-2 pg 357 |
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stratified random sample |
the population is divided into mutually exclusive groups; then random samples are drawn from each group
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9-2 pg 171 |
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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 |
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trade allowance |
a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers
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16-6 pg 308 |
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trade sales promotion |
promotion activities directed to members of the marketing channel, such as wholesalers and retailers
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16-6 pg 307 |
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two-part pricing |
a price tactic that charges two separate amounts to consume a single good or service
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20-3 pg 386 |
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unbundling |
reducing the bundle of services that comes with the basic product
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20-3 pg 385 |
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uniform delivered pricing |
a price tactic in which the seller pays the actual freight charges and bills every purchase an identical, flat freight charge
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20-3 pg 381 |
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unique selling proposition |
a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign
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16-3 pg 296
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unitary elasticity |
a situation in which total revenue remains the same when prices change
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19-3 pg 359 |
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usage-rate based segmentation |
dividing a market by the amount of product bought or consumed
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8-4 pg 149 |
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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
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19-4 pg 362 |
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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 |
