Chapter 11 Flashcards
An official statment issued to newspapers giving information on a particular matter
Press release
The set of assets and liabilities linked with a firm’s brand that results in an increase in its valuation.
Brand equity
A pricing method where firms determine the list price for a product by adding a markup percentage to its fixed and variable costs.
Cost-based pricing
A low-budget approach to marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques.
guerilla marketing
A place within a market segment that represents a narrow group of customers with similar interests.
Niche marketing
Acknowledgment consumers make when examining a product’s price; means that they assume that the higher-priced product is also the better-quality product.
Price-quality attribution
A set of actions firms take to establish and maintain their desired image with the public.
public relations
A pricing method in which the firm determines the price of its product by estimating what consumers are willing to pay for it, then backs off a bit to provide a cushion.
Value-based pricing
The route a product takes from its place of origin to the customer, who is the end-user.
Distribution channel
The set of controllable, tactical marketing tools that a firm uses to produce the response it wants in the target market; typically organized around the four Ps—product, price, promotion, and place (or distribution).
Marketing Mix
A folder containing background information about the company and a list of its most recent accomplishments.
Press kit
An agreement giving a retailer or other intermediary the exclusive rights to sell a company’s products in an area for a specific period.
exclusive distribution arrangements
