Mkt 300 Exam 2

Front 1

Digital Media

Back 1

Electronic media functioning through digital codes

Front 2

5 Characteristics of Online Media

Back 2

1) Addressabillity- the ability of a marketer to identify customers before they make a purchase.

2)Interactivity- allows customers to express needs and wants

3) Accessibility- ability to obtain digital info on competitive goods, prices and reviews.

4) Connectivity- keeps customers and businesses connected.

5) Control- consumers ability to regulate info they receive online.

Front 3

Customer Generated Marketing

Back 3

1)Tendency to publish thoughts, opinions, reviews, and product discussions through blogs/ digital media

2) consumer tendencies to trust other consumers over corporations.

Front 4

Whats a product

Back 4

good service or idea received in an exchange

-includes function, social, and psychological utilities, and benefits

-includes supporting services like instillation, guarantees, product info.

Front 5

Good-

Back 5

tangible physical entity

Front 6

Service

Back 6

intangible result of the application of human and mechanical efforts to people or objects

Front 7

idea

Back 7

concept, philosophy, image, issue

Front 8

Classifying Products

1) Customer Products

2) Business Products

Back 8

1) purchases to satisfy family wants and needs

2) purchases to use in a firms operations to resell or to make other products. purchased to satisfy goals of an organization.

Front 9

Product Item

Back 9

specific version of a product that is distinct offering among an organizations line of product

Front 10

product line

Back 10

a group of closely related product items viewed as a unit b/c of marketing, technical, or end use considerations

Front 11

product mix

Back 11

total group of products that an organization makes available to customers

Front 12

Product Adoption Process (5 Steps)

Back 12

1) awareness- buyer is aware of the product

2)Interest- buyer seeks info and is receptive to learning about product

3) Evaluation- buyer considers product benefits weather or not to try it

4)Trial- buyer examines, tests, and tries product to determine if it meets their needs.

5)Adoption- buyer purchases product and can be expected to use it again whenever the need for this general type the product arises

Front 13

Products Fail Because

Back 13

They dont match needs

dont send right message

technical design problems

poor timing

overestimated market

ineffective promotion

insufficient distribution

Front 14

Line extension

Back 14

development of a product that is closely related to existing products in the line but is designed specifically to meet different customer needs

Front 15

product modifications

Back 15

changes in one or more characteristics of a product

Front 16

3 ways to modify

Back 16

1) quality- changes in dependability and durability

2)Functional- changes in versatility, effectiveness, convenience or safety

3)Asthetic- changes in sensory appeal

Front 17

7 Phases of new product development process

Back 17

1) Idea generation

2) Screening

3) Concept Testing

4)Business Analysis

5)Product Development

6)Test Marketing

7) Commercialization

Front 18

3 aspects of product differentiation companies that must be considered

Back 18

1) product quality

2) product + design + features

3)product support services

Front 19

Product positioning

Back 19

creating and maintaining a certain concept of a product in customers mind

Front 20

Market Manager

Back 20

is responsible for managing marketing activities that serve a particular group of customers

Front 21

6 Characteristics of Services

Back 21

1)Intangibility- not physical and cant be perceived by senses

2)Inseparability of a product and consumption

3)Parish-ability

4)Heterogeneity- service has variations in quality

5)Client based ralationships- interactions resulting in satisfied customers who use service repeatedly

6) customer contact

Front 22

Brand

Back 22

Term, name, design, symbol and other features identifying a marketers product as distinct for other markets

Front 23

Brand Name

Back 23

part of the brand that can be spoken, including utilites, words, ect.

Front 24

Trademark

Back 24

Legal designation of exclusive use of a brand

Front 25

Trade Name

Back 25

Full legal name of an organization

ex. The Coca Cola Company

Front 26

Brand Loyalty

Back 26

Customers favorable attitude towards a specific brand

Front 27

Degrees of a brand Loyalty

Back 27

Brand Recognition

Brand preference

Brand Insistent

Front 28

4 Elements of Brand equity

Back 28

1) Brand Name Awareness

2) Brand Loyalty

3) Percieved brand quality

4)Brand Association

Front 29

Manufacture Brands

Back 29

initiated by products to ensure that producers are identified w/ their product when its purchased

Front 30

Private Distributor Brands

Back 30

initiated and owned by reseller, manufacturer is not identified.

Front 31

Generics

Back 31

Indicate only product category and include no company name or identifying terms

-sold cheaper

Front 32

Co-Branding

Back 32

using 2 or more brands on one product

-capitalizes brand equity of x brands

-helps differentiate products

Front 33

Packaging Function

Back 33

protect the product and maintains functional..

-provides convenience

-promotes product features and uses

-communicates quality through symbols

Front 34

Secondary use packaging

Back 34

reused for purposes other than its initial function

-adds to perception value

Front 35

Multiple packaging

Back 35

increases demand b/c it raises the number of product available at point of consumption

-makes products easier to handle and store