Exam 1

Question 0

Packaging

Answer 0

To broaden and include functions such as to attract attention, assist and promotion, provide machine identification.

Question 1

Odd even pricing

Answer 1

Psychological pricing method based on the belief that certain prices or price ranges are more appealing to buyers. Such examples as 19.99

Question 2

Penetration approach

Answer 2

The strategy adopted for quickly achieving a high volume of sales in the market penetration of a new product. Under this approach a product is widely promoted comparatively low

Based on the assumption that the product does not have an identifiable price market segment

Question 3

Permission marketing

Answer 3

Sending a promotional message such as direct mail or emails only upon the permission or request of the recipient

Question 4

Personal selling

Answer 4

Face-to-face selling in which a seller attempts to persuade a buyer to make a purchase

Question 5

Prestige pricing

Answer 5

Marketing strategy where prices are set higher than normal because lower prices will hurt instead of helping sales such as for high-end perfumes jewelry clothing and cars

Question 6

Primary data

Answer 6

Data observed or collect the directly from first-hand experience.

Question 7

Private branding

Answer 7

A private brand is a product that is exclusively manufactured for a retailer. Prices for private brands are usually set cheaper than competing name brands

Question 8

Product life cycle

Answer 8

Introduction
Growth in sales revenue
Maturity, which sales revenue stabilizes
Decline, when sales revenue starts to fall and eventually vanishes

Question 9

Promotion mix

Answer 9

Is specific combination of promotional methods used for one product or a family of products. Elements of the promotion mix man could print or broadcast advertising, direct marketing, personal selling, point of sale displays, and/or merchandising

Question 10

Public relations

Answer 10

The profession or practice of creating and maintaining goodwill of an organizations various Publix usually through publicity and other nonpaid forms of communication

Question 11

Publicity

Answer 11

The type of promotion that relies on public relations effect of a news story carried usually free by mass media. The main objective of publicity is creation of an image through editorial or independent source commentary

Question 12

Secondary data

Answer 12

Published data in the data collected in the pastor other parties is called secondary data

Question 13

Skimming approach

Answer 13

Hi price and that higher income groups for luxury or status goods, or at extracting maximum returns from a market for a new technology product before competitors emerge

Question 14

Sales promotion

Answer 14

Stimulation of sales achieve through contests demonstrations discounts and similar activities.

Question 15

Societal marketing

Answer 15

A promotional process whereby a business first assesses the interest of target consumers and then and to deliver products more effectively and efficiently than its competition so that it benefits the customers and societies overall welfare.

Question 16

Target costing

Answer 16

Method in which a final cost is determined after market analysis and the product design or redesign to meet it.

Question 17

Target market

Answer 17

A particular market segment at which a marketing campaign is focused

Question 18

B2B(Business to Business)

Answer 18

Products and which that are marketed to other businesses. B2B transactions are much higher than the volume of B2C transactions

Question 19

Break even analysis

Answer 19

Study of the mathematical relationship between cost and sales revenue under a given set of assumptions regarding the firms fixed costs and variable costs

Question 20

Break even point

Answer 20

Point in time or in number of units sold when forecasted revenue exactly equals the estimated total costs. This is the point at which a business, product, or project becomes financially viable

Question 21

Contribution margin

Answer 21

Formula

Price per unit- cost per unit- variable operating expenses per unit.

Question 22

Copyright

Answer 22

Legal monopoly that protects published or unpublished original work from unauthorized duplication without due credit and compensation

Question 23

fixed cost

Answer 23

Aperiodic cost that remains more or less unchanged irrespective of the output level or sales revenue, such as depreciation, insurance, interest, rent, salaries, and wages

Question 24

Industry

Answer 24

The manufacturing or technically productive enterprises in a particular field, country, region, or economy viewed collectively, or one of these individually.

Question 25

Market segment

Answer 25

And identifiable group of individuals, families, businesses, or organizations, Sharon one or more characteristics or needs in an otherwise homogeneous market

Question 26

Market

Answer 26

An actual or nominal place where forces of demand and supply operate and where buyers and sellers interact, trade goods services, or contracts for money or barter

Question 27

Market share

Answer 27

A percentage of total sales volume in a market captured by a brand product or company