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marketing essentials > 000099 > Flashcards

000099 Flashcards

1
Q

what is the number 1 candy

A

skittles

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2
Q

who is the largest shoe seller?

A

zappos

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3
Q

how many hours do people use the web daily?

A

12 hours

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4
Q

when did the oreo company start?

A

1912

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5
Q

what are the two largest categories products segement into?

A

the two categories products fall into are consumer and busines products

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6
Q

what needs do consumer products satisfy to customers who purchase them?

A

consumer products satisfy personal and family needs

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7
Q

after personal and family needs; how are consumer products market segmented?

A

consumer products are categorized by the general behavior in buying a specific item

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8
Q

for what use are business products purchased to fullfill?

A

business products are purchased to be used in a firms operation, to resell, or to use in the process of manufacturing other products

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9
Q

after being used in a firms operation, resold, or used in the process of manufacturing another products; how are business products classified?

A

they are classified according to their characterisitcs and intended uses whitin an organization

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10
Q

what are four kinds of consumer products?

A

three kinds of consumer products are convienience products, shopping products, specialty products, and unsought products

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11
Q

the first kind of consumer products called convenience products have what characterisitcs?

A

convenience products have a relative low price and are inexpensive, and are also used frequently therefore buyers exert only minimal purchasing effort

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12
Q

how is time consumed and comparison; when buying convenience products?

A

usually a small amount of time and comparison is consumed when purchasing convenience products

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13
Q

normally where are convenience prodcts marketed through?

A

convenience prodcts are normally marketed in many reail outlets

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14
Q

how are convenience prodcts affected in the market by consumers?

A

normally they experience high inventory turn over and the per unit gross margins can become relatively low

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15
Q

what is the expected promotiol effort by convenience product producers?

A

minimal promotional effort in retail level can be expected by producers of convenience products

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16
Q

what is an important detail for convenince products that are on a self serve basis at retail stores?

A

on self service retail level stores packaging is an important factor for convenience products

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17
Q

for which items are shoppers willing to expend a considerable effort in planning and making a purchase?

A

buyers spend are willing to spend a considerable amount of time planning when shopping for a shooping product

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18
Q

what charcterisitcs do specialty products have?

A

specialty products can have one or more unique characterisitcs and buyers are willing to spend a considerable effort to obtain them

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19
Q

what are the characterisits of unsought products?

A

unsought products can be a sudden problem solver, products customers are unaware of, items people don’t necessarily think about buying like emergency kits, and automobile repairs

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20
Q

what are four brand equity types?

A

brand name awareness, perceived brand quality, brand associates, and brand loyalty

21
Q

why do products fail?

A

products can fail by poor timing, ineffective promotion, insufficient distribution, failure to send the right message, and overestimate size of the markets

22
Q

a brand is generally described as?

A

a brand can be described as a name, term, symbol, design, or other feature that identifies ones seller goods or services as distinct from those of other sellers

23
Q

what is a brand name?

A

part that can be spoken, including letters, words, and numbers and often a product only distinguishing characterisitc

24
Q

what is a brand mark?

A

an element of a brand that cannot be spoken often a symbol or design

25
Q

what is a trademark?

A

is a legal designation indicating that the owner has exclusive use of the brand or part of a brand and that others are prohibited by law from its use

26
Q

what is a tradename?

A

A trade name is the full and legal name of an organization rather than the name of a specific product

27
Q

what are the three levels of brand loyalty?

A

the three levels of brand loyalty are brand recognition, brand preference, and brand insistince

28
Q

the brand recognition degree is based on what aspect?

A

brand recgnition is when a customers is aware that a brand exists and views it as an alternative to purchse if his or her brand is unavailable or if the other available brands are unfamiliar to the customer

29
Q

what is the brand preference level?

A

brand preference is a stronger degree of brand loyalty where a customer definitely prefers one brand over competitive offerings and will purchase the brand if available but will accept a substitute

30
Q

what is the brand insistence level?

A

the brand insistence level is the strongest and least common degree of a abrand loyalty, in which a customer strongly prefers a specific brand, will accept no substitute, and will go to great lengths to acquire it

31
Q

what are manufacturer brands?

A

manufacturer brands are initiated by producers and ensure that producers are identified with their products at the point of purchase

32
Q

what are private distributor brands?

A

private distributir brands can also be called private brands, store brands, or dealer brands and are initiated and owned by resellers wholesalers or retailers. The manufacturers are not identified on the products

33
Q

what are generic brands?

A

generic brands indicate only a product category and do not include a company name or their identifying terms

34
Q

what is intensive distribution?

A

it uses all outlets available to distribute a product

35
Q

what is sleective distribution?

A

uses only some available outlets to distribute a product

36
Q

what is exclusive distribution?

A

uses a sinlge outlet in a fairly large geographic area to distribute a product

37
Q

what is product modification?

A

means changing one or more characteristics of a firm’s product;
it differs from a line extension in that the original product is removed from the line.

38
Q

what are Quality modifications

A

are changes relating to a product’s dependability and durability, usually executed by altering the materials or the production process.

39
Q

what are Functional modifications

A

are changes affecting a product’s versatility, effectiveness, convenience, or safety; they usually require the product to be redesigned.

40
Q

what are four brand equity types?

A

change the sensory appeal of a product by altering its taste, texture, sound, smell, or appearance.

41
Q

what is New-product development process ?

A

is a seven-phase process for introducing products: idea generation, screening, concept testing, business analysis, product development, test-marketing, and commercialization

42
Q

what is Idea Generation?

A

is a seven-phase process for introducing products: idea generation, screening, concept testing, business analysis, product development, test-marketing, and commercialization

43
Q

what is Screening?

A
  1. In phase two, screening, the most promising ideas are selected for further review. 2. More ideas are rejected during screening than in any other stage.
44
Q

what is Concept Testing

A

Stage three is concept testing, in which a sample of potential buyers is presented with a product idea to determine attitudes and initial buying intentions regarding the product.

45
Q

what is Business Analysis?

A

During stage four, business analysis, the product idea is evaluated to determine its
potential contribution to the organization’s sales, costs, and profits.

46
Q

what is Product Development?

A

In stage five, product development, the firm finds out if it is technically feasible to produce the product and if it can be produced at costs low enough to make the final price reasonable.

47
Q

what is Test Marketing?

A

Stage six, test marketing, is a limited introduction of the product in geographic areas chosen to represent the intended market to gauge the extent to which potential customers buy.

48
Q

what is Commercialization?

A

Stage seven, commercialization is planning for full-scale manufacturing and marketing as well as preparing finalized budgets.

marketing essentials (4 decks)

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