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Marketing 300 uky > Chapter 10 and 11 exam review > Flashcards

Chapter 10 and 11 exam review Flashcards

1
Q

electronic media that function using digital codes (rather than film, or magnetic media

A

Digital media

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2
Q

uses digital media to develop communications and exchanges with customers

A

digital marketing

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3
Q

refers to the strategic process of distributing, promoting, pricing products, and discovering the desires of customers using digital media and digital marketing

A

Electronic Marketing (e-marketing )

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4
Q

the ability of the marketer to identify customers before they make a purchase

A

addressability

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5
Q

allows customers to express their needs and wants directly to the firm in response to its communications

A

interactivity

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6
Q

the ability to obtain digital information on competing products, prices, reviews and details on firms

A

accessibility

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7
Q

keeps customers and businesses connected with each other

A

connectivity

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8
Q

consumer’s ability to regulate the information they receive via the internet

A

control

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9
Q

what are the 5 characteristics why digital marketing is different than traditional

A

addressability, interactivity, accessibility, connectivity, and control

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10
Q

allows marketers to offer promotions via customers’ mobile devices

A

mobile marketing

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11
Q

Marketers use social networks to…

A

promote products, handle questions and complaints, and to provide information to assist customers in buying decisions

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12
Q

a web-based meeting place for friends, family, co-workers, and peers allowing users to create a profile and connect with other users fo purposes ranging from getting acquainted to keeping in touch and building a work-related network

A

Social Networks

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13
Q

are web-based journals in which writers can editorialize and interact with other internet users

A

Blogs

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14
Q

a type of software that creates an interface enabling users to add or edit content of some websites

A

Wiki

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15
Q

a media sharing site that allows companies to market themselves with snapshots of company events

A

Photosharing

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16
Q

media sharing site that allows companies to upload ads and informational videos and are now using consumer-generated videos

A

video sharing

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17
Q

media sharing that is audio or video files that can be downloaded with a subscription that automatically delivers new content to listening devices or personal computers; offers convenience allowing users to listen when and where they choose

A

podcasting

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18
Q

user-created, 3D worlds with their own economies, currencies, and businesses; allows businesses to reach consumers in a creative, fun way

A

Virtual Sites

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19
Q

6 common mobile marketing tools

A

sms messages, mobile ads, location-based networks, multimedia messages, mobile websites, mobile applications

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20
Q

bring convenience and cost-saving to the customer; companies are using mobile marketing to offer consumers additional incentives

A

Apps

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21
Q

small bits of software on a website, desktop or mobile device; innovative digital marketing too to personalized webpages, alerts users to company information and spread product awareness

A

Widgets

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22
Q

what are the four points of online consumer behavior

A

requires constant effort to stay on top of the latest technology; customers’ habits and consumption pattern’s change, learning how we use new media can be daunting for many marketers; 7 different types of digital technology users (Forrester research)

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23
Q

connectivity of digital media creates opportunities for businesses to add services and enhance product benefit; some products are only available digitally, the internet is a large resource of consumer needs

A

Product consideration

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24
Q

internet is a new distribution channel; reduces inefficiencies, costs, and redundancies and increases speed. distribution involves a push-pull dynamic

A

distribution consideration

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25
Q

social networking sites allows marketers to approach promotion in entirely new, creative ways; digital promotions attempts to increase brand awareness

A

promotion considerations

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26
Q

pricing releases to perceptions of value and is the most flexible element in the marketing mix; digital online media marketing facilitates both price and nonprice competition

A

price considerations

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27
Q

a significant privacy issue is the personal information companies collect from website visitors

A

Privacy

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28
Q

any attempt to conduct fraudulent activities online, including deceiving customers into releasing personal information

A

online fraud

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29
Q

name three governmental legislations implementing safeguards

A

U.S. Federal Trade Commission; American association of advertising agencies; the association of national advertisers

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30
Q

setting up fraudulent profiles on social networking sites

using social network sites to pose as charitable institutions

A

Cybercriminals

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31
Q

can be anything from ideas and creative materials to songs, movies, books, or other products

A

Intellectual Property

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32
Q

a tangible, physical entity

A

good

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33
Q

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

A

service

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34
Q

a concept, philosophy, image, or issue

A

idea

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35
Q

the product’s fundamental utility or main benefit; addresses basic needs of customer. Example: sports drink —-> hydrates

A

The core product

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36
Q

provide the added value or attributes in addition to a product’s core utility; help differentiate the product brand

A

supplemental features

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37
Q

buyers purchase the benefits and satisfaction they think the product will provide

A

symbolic and experiential benefits

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38
Q

products purchased to satisfy personal and family wants and needs

A

consumer products

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39
Q

relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort

A

convenience products

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40
Q

items for which buyers are willing to expend considerable effort in planning and making purchases (more extensive search, available substitutes, and less frequent purchase)

A

shopping products

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41
Q

require no search, many retail outlets, heavy brand promotion, reliance on self-service, available at many retailers, and usually low-cost points are strategic considerations of what kind of product

A

Convenience product

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42
Q

no brand loyalty, fewer retail outlets than convenience, lower inventory turnover, personal selling, producer and channel member cooperation are strategic considerations for what kind of product

A

Shopping products

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43
Q

items with unique characteristics that buyers are willing to expend considerable effort to obtain ( Require extensive search, are generally higher price points, and no ready substitutes

A

Specialty products

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44
Q

limited retail outlets, lower inventory turnover, and high gross margins are strategic considerations for what type of product

A

specialty Product

45
Q

products purchased to solve a sudden problem; products of which customers are unaware; and products that people do not necessarily think of buying (no search, price is not important and purchased compelled

A

unsought products

46
Q

Built trust with consumers prior to need, recognizable brand, and superior performance are strategic considerations for what type of product

A

unsought products

47
Q

convenience product, shopping product, specialty product, and unsought product are what types of products

A

Consumer Products

48
Q

products bought to use in a firm’s operations to resell or to make other products; purchased to satisfy the goals of the organization

A

business products

49
Q

facilities and non-portable equipment

A

installations

50
Q

equipment that does not become part of the final physical product but is used in the production or office activities

A

accessory equipment

51
Q

natural materials that are part of a product

A

raw materials

52
Q

finished items ready for assembly or that they need little processing

A

Component Part

53
Q

used in production but not identifiable

A

Process materials

54
Q

maintenance, repair and operating items that are not part of the final product

A

MRO supplies

55
Q

intangible products in operations

A

business services

56
Q

a specific version of a product that is a distinct offering among an organization’s line of products

A

Product item

57
Q

a group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations

A

Product line

58
Q

the total group of products that an organization makes available to customers

A

product mix

59
Q

the number of product lines a company offers

A

Width of the Product mix

60
Q

the average number of different products in each product line

A

depth of product mix

61
Q

the average number of different products in each product line

A

depth of product mix

62
Q

first stage of a product’s life cycle
sales start at 0 and profits are negative
high risk of failure
buyers must be made aware of features, uses, advantages
sellers lack resources, technological knowledge, marketing how-to

A

Introduction

63
Q

second stage of a product’s life cycle where sales rise rapidly, profits reach a peak, then they start to decline
promotion costs drop as percentage of sales
marketers must:
-stress brand benefits to encourage brand loyalty
-intensify segmentation
-strengthen market share
-analyze production position
-ensure efficient distribution system

A

Growth

64
Q 
thrid stage of a product's life cycle where the sales curve peaks and starts to decline and profits continue to fall
intense competition
weaker competitors exit the market 
distribution sometimes expands into global markets
strategic objectives:
-generate cash flow
-maintain market share 
-increase share of customer
A

maturity

65
Q 
fourth and final stage of a products life cycle where sales fall rapidly during this stage
marketers will likely... 
-eliminate/ reposition items
-cut promotions
-eliminate marginal distributors 
-plan to phase out product
A

Decline

66
Q

What are the four stages of a products life cycle in order

A

introduction, growth, maturity, decline

67
Q

what are the 5 stages of the product adoption process in order

A

Awareness, interest, evaluation, trial, adoption

68
Q

the buyer becomes aware of the product

A

Awareness

69
Q

the buyer seeks information and is receptive to learning about the product

A

interest

70
Q

the buyer considers the products benefits and decides whether to try it

A

Evaluation

71
Q

the buyer examines, tests, or tries the product to determine if it meets his/her needs

A

trial

72
Q

the buyer purchases the product and can be expected to use it again whenever the need for this general type of product arises

A

Adoption

73
Q

when an organization introduces a product, people do not begin the adoption process at the same time, nor do they move through it at the same spend

A

Adoptor categories

74
Q

first adoptors of new products

A

innovators

75
Q

careful choosers of new products

A

early adopters

76
Q

those adopting new products just before the average person

A

early majority

77
Q

skeptics who adopt new products when they feel it necessary

A

late majority

78
Q

the last adopters who distrust new products

A

laggards

79
Q

what are the five adoptor categories

A

innovators, early adopters, early majority, late majority, laggards

80
Q

a name, term, design, symbol, or other feature that identifies the marketer’s product as distinct from those other marketers

A

Brand

81
Q

the part of the brand that can be spoken, including letters, words, and numbers

A

brand name

82
Q

the part of the brand that is not made of up words such a symbol or design

A

Brand Mark

83
Q

a legal designation of exclusive use of brand

A

Trademark

84
Q

the full legal name of an organization

A

Trade name

85
Q

a customer’s favorable attitude towards a specific brand

A

Brand loyalty

86
Q

buyer is aware that the brand exists and considers it as an alternative if the preferred brand is unavailable

A

brand recognition

87
Q

buyer prefers the product over competitive offerings and will purchase if available

A

Brand preference

88
Q

product is strongly preferred; buyer will accept no substitute

A

brand insistence

89
Q

the marketing and financial value associated with a brand’s strength in a market;

A

Brand Equity

90
Q

what are the 4 brand equity elements

A

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

91
Q

initiated by producers to ensure that producers are identified with their products at the point of purchase

A

manufacturer brands

92
Q

initiated and owned by a reseller; manufacturers are not identified

A

Private distributer brands (private and store brands)

93
Q

indicate only the product category and do not include company name or anything identifying terms; usually sold at lower prices

A

Generics

94
Q

each product is given a different name

A

individual branding

95
Q

all of the firm’s products are branded with the same name or part of the name

A

family branding

96
Q

an organization uses one of its existing brands to brand a new product in a different product category

A

brand extension

97
Q

using two or more brands on one product
capitalizes on the brand equity of multiple brands
can help an organization differentiate its products from competitors

A

co-branding

98
Q

an agreement in which a company permits another organization to use its brand on other products for a licensing fee
result in extra revenues
problem is consumer overexposure

A

Brand licensing

99
Q

protect product and maintain its functional form
promotes products features and uses
provide customer convenience

A

Packaging

100
Q

using similar packaging for all of a firms’ products packaging that has one common design elements

A

family packaging

101
Q

to update style
highlight new product features
new packaging materials

A

Altering the Package

102
Q

reused for purposes other than its initial function

can add to the perception of values

A

Secondary-Use Packaging

103
Q

product is packaged in line with a particular category

traditional designs or colors are used

A

category-consistent packaging

104
Q

unique features are used to make a product distinctive

uniquely shaped packages can attract attention

A

innovative packaging

105
Q

may increase demand because it increases amount of product available at point of consumption
may make products easier to handle instore

A

multiple packaging

106
Q

changing the outer carton, special bundling, shrink wrap, etc.
easier in the distribution channel
may help the product to proceed more easily through automated warehousing systems

A

handling-improved packaging

107
Q

is closely interrelated with packaging and is used for identification, promotional, informational, and legal purposes

A

labeling

108
Q

a series of electronically readable lines identifying a product and containing inventory and pricing information

A

Universal Product Code (UPC)

Marketing 300 uky (11 decks)

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