Marketing Principles: Test 3

Front 1

Discrepancy

Back 1

what is produced and what is demanded is not equal

Front 2

Direct Channel

Back 2

• A distribution channel in which producers sell directly to consumers

Front 3

Channel Conflict

Back 3

• A distribution channel in which producers sell directly to consumers

Front 4

Channel Conflict

Back 4

• Channel conflict = Channel competition

Front 5

Service

Back 5

• Result of applying human or mechanical efforts to people or objects

Front 6

How Services Differ From Goods

Back 6

• Intangible
• Inseparable
• Heterogeneous- various types
• Perishable

Front 7

Branding

Back 7

• Want a positive response from consumers
• Want to leave impression in your brain
o Positive thoughts

Front 8

Role of Promotion

Back 8

Promotion- Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response

Front 9

Promotional Mix

Back 9

• What combination of promotional tools will be used to reach the target market and fulfill the organizations overall goals
o Advertising
o Public relations
o Sales promotion
o Personal selling

Front 10

What’s a Public?

Back 10

• A group of people who have similar interests around a particular topic
o Very loose geographic boundaries
o Encompasses a wide range of ages
o Can span races or nationalities
o Are seldom assembled or visible
• Expect for conventions/events

Front 11

Sales Promotion

Back 11

• Marketing activities (other than personal selling, advertising, and public relations) that stimulate consumer buying and dealer effectiveness

Front 12

Marketing Channel Functions

Back 12

• Specialization
• Overcoming discrepancies- evens out supply and demand
o Quantity
o Assortment
o Time space
• Providing constant efficiency