22-29 Marketing

Question 1

Allegiance Loyalty:

Answer 1

Strong commitment to a brand or company.

Question 2

Defection

Answer 2

When customers leave for a competitor.

Question 3

Involvement

Answer 3

Customer engagement with a product or brand.

Question 4

Word of Mouth:

Answer 4

Customers sharing their experiences with others.

Question 5

Repeat Business

Answer 5

Customers returning to make additional purchases.

Question 6

Lost Customer Analysis

Answer 6

Studying why customers leave.

Question 7

Customer Base

Answer 7

The group of customers who regularly buy from a company.

Question 8

The 80/20 Rule:

Answer 8

80% of sales come from 20% of customers.

Question 9

Enrich Database

Answer 9

Adding valuable information to customer data.

Question 10

Data Mining

Answer 10

Analyzing large data sets to uncover patterns and insights.

Question 11

Confidentiality

Answer 11

Keeping information private and secure.

Question 12

CRM

Answer 12

Customer Relationship Management; strategies to manage customer interactions.

Question 13

One-to-One Marketing

Answer 13

Personalized marketing tailored to individual customers.

Question 14

Segment of One Marketing

Answer 14

Treating each customer as a unique segment.

Question 15

Mass Customization:

Answer 15

Customizing products for individual customers on a large scale.

Question 16

ACORN:

Answer 16

A segmentation tool classifying neighborhoods for marketing.

Question 17

Brand Equity

Answer 17

The value a brand adds to a product

Question 18

Brand Positioning

Answer 18

How a brand is perceived relative to competitors.

Question 19

Flagship Brand

Answer 19

The most important or well-known brand of a company.

Question 20

Generic Brand

Answer 20

A no-name or store-brand product

Question 21

Brand Stretching

Answer 21

Expanding a brand into new categories.

Question 22

Brand Dilution

Answer 22

Weakening a brand’s image by overextending.

Question 23

Remote Communication

Answer 23

Communicating from a distance, often via technology.

Question 24

Prudential Brands

Answer 24

Brands associated with careful and risk-averse decisions.

Question 25

(In)Direct

Answer 25

Direct means no intermediaries; indirect uses intermediaries.

Question 26

Exclusive Agents

Answer 26

Sole representatives of a brand or product in a region.

Question 27

Sales Area

Answer 27

A geographic region assigned to a salesperson or team.

Question 28

Export Manager

Answer 28

Oversees a company’s export activities.

Question 29

Licensing

Answer 29

Allowing another company to use your brand or technology for a fee.

Question 30

Direct Investment

Answer 30

Investing directly in facilities or operations in another country.

Question 31

Globalization:

Answer 31

The integration of markets and businesses worldwide.

Question 32

Standard Global Offering

Answer 32

A consistent product or service offered worldwide

Question 33

Landlines

Answer 33

Traditional wired telephone connections

Question 34

Broadband Access

Answer 34

High-speed internet connectivity.

Question 35

PDAs

Answer 35

Personal Digital Assistants; handheld devices for managing information.

Question 36

Moore’s Law

Answer 36

The observation that computing power doubles approximately every two years.

Question 37

Law Enforcement Agencies

Answer 37

Government bodies enforcing laws and regulations.

Question 38

Snooping

Answer 38

Unauthorized surveillance or data gathering.

Question 39

Electronic Trail:

Answer 39

Digital record left by online activities.