Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Marketing 308 > Exam 3 > Flashcards

Exam 3 Flashcards

1
Q

What is a good?

A

A tangible product that customers can see, hear, smell, taste, and/or touch (e.g., TV, cereal, tools).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is a service?

A

An intangible product that cannot be seen, heard, or touched before purchase (e.g., haircut, car repair).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How are services different from goods?

A

Services are:

  • Intangible
  • Inseparable from the provider
  • Perishable (can’t be stored)
  • Difficult to standardize
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the Goods-Services Continuum?

A

a framework that categorizes products and services based on their tangible and intangible characteristics, ranging from pure goods to pure services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the three classifications of consumer products?

A

Convenience products, shopping products, and specialty products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are convenience products?

A

Frequently purchased, low-cost items bought with minimal effort (e.g., toothpaste, bread).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are impulse goods?

A

Items bought spontaneously without prior planning (e.g., candy at checkout).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are staples?

A

Regularly purchased items used to maintain supply (e.g., milk, shampoo).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are shopping products?

A

Higher-cost items that consumers research before purchasing (e.g., cars, insurance).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What type of promotion is often used for shopping products?

A

Advertising and personal selling.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are specialty products?

A

High-end, unique items that buyers specifically seek out (e.g., Tiffany jewelry).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How are specialty products marketed?

A

Personalized service and image-based advertising.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How are consumer services classified?

A

They follow the same categories as goods: convenience, shopping, and specialty.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are two types of services based on delivery?

A

Equipment-based (e.g., car wash) and people-based (e.g., hairstylist).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Why is classification important for marketers?

A

It helps guide the development of a successful marketing mix (pricing, promotion, distribution).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is a brand?

A

A name, symbol, or design that identifies and differentiates a product.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is brand loyalty?

A

The degree to which consumers consistently choose the same brand.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the three levels of brand loyalty?

A
  • Brand Recognition: Basic awareness
  • Brand Preference: Choosing it over competitors
  • Brand Insistence: Refusing substitutes
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is brand equity?

A

the positive value a brand has accumulated in the minds of consumers, based on their perceptions, experiences, and associations with the brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What are the four dimensions of brand equity (Young & Rubicam model)?

A

Differentiation – Uniqueness from competitors

Relevance – Importance to target market

Esteem – Quality and respect consumers feel

Knowledge – Consumer awareness and understanding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is a brand name?

A

The spoken part of a brand (e.g., Nike).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is a brand mark?

A

A symbol or design that represents the brand (e.g., the Nike swoosh).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is a trademark?

A

Legal protection of a brand’s name or symbol.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is a trade name?

A

The company’s name (e.g., Coca-Cola Company).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What is trade dress?
Visual elements that distinguish a brand (e.g., McDonald's Happy Meal design).
26
What are generic products?
Products with no branding, minimal advertising, and plain packaging.
27
What are manufacturer brands (national brands)?
Brands owned by producers (e.g., Kellogg’s, Sony).
28
What are private brands (private labels)?
Brands owned by retailers or wholesalers (e.g., Kroger's Simple Truth).
29
What is a line extension?
Offering new styles, sizes, or variations within the same product line (e.g., flavored Cheerios).
30
What is a brand extension?
Using an existing brand name to enter a different product category (e.g., Cheerios cake mix).
31
What does a brand manager do?
Oversees marketing for a specific brand or product line (e.g., iPhone brand manager at Apple).
32
What is category management?
strategically managing entire product categories as if they were individual business units
33
What are three structures for new product development?
New product committees – Cross-department teams New product departments – Dedicated internal teams Product managers – Lead product creation and improvement
34
What are the three main objectives of packaging?
Protection – Prevent damage or theft Marketing assistance – Communicate brand and value Cost-effectiveness – Control costs and improve sustainability
35
What is the role of labels?
Carry brand, manufacturer, content, and usage info; must meet legal standards.
36
What laws regulate labeling?
Fair Packaging and Labeling Act (1966) Nutrition Labeling and Education Act (1990) Food Allergen Labeling and Consumer Protection Act (2004)
37
What are the four main strategies for new product development?
Market Penetration – Increase sales of existing products in existing markets. Market Development – Find new markets for existing products. Product Development – Introduce new products into established markets. Product Diversification – Develop entirely new products for new markets.
38
What are the six steps in the new product development process?
Idea Generation – Brainstorming from customers, R&D, sales, etc. Screening – Eliminate ideas that don’t meet company goals. Business Analysis – Analyze market potential and resource fit. Development – Turn idea into prototype or initial product. Test Marketing – Release in select markets to gauge response. Commercialization – Full-scale launch with full marketing and production.
39
What happens during commercialization?
The product is released to the market, with investments in marketing, production, and sales training.
40
What are the five stages of the adoption process?
Awareness Interest Evaluation Trial Adoption or Rejection
41
What are the five categories of adopters?
Innovators – First 2.5%, risk-takers. Early Adopters – Next 13.5%, opinion leaders. Early Majority – Cautious and pragmatic. Late Majority – Skeptical, adopt after majority. Laggards – Traditional, resistant to change.
42
What factors affect the rate of adoption?
Relative Advantage – Better than existing options. Compatibility – Fits with user values and needs. Complexity – Easier to understand = faster adoption. Trialability – Can it be tried with little risk? Observability – Can people see the benefits?
43
What are the four stages of the product lifecycle?
Introduction – Sales low, focus on awareness. Growth – Sales rise, competition increases. Maturity – Sales plateau, profits decline. Decline – Sales fall due to new products or changing needs.
44
Can you give examples of each stage?
Introduction: Driverless cars Growth: Smartphones Maturity: Digital cameras Decline: DVD players
45
How do marketers extend the product lifecycle?
Increase usage frequency Attract new users Find new uses Alter packaging, labels, or quality
46
What is an example of finding new uses?
Arm & Hammer promotes baking soda for cleaning, not just baking.
47
What is a product line?
A group of related products under the same brand.
48
What is a product mix?
The total assortment of all product lines offered by a company.
49
What is product mix breadth?
The number of different product lines a firm offers. Example: Toyota offers cars, trucks, SUVs, etc.
50
What is product line depth?
The number of product variations within a line. Example: Toyota Camry comes in LE, SE, Hybrid, etc.
51
What are common methods for managing product quality?
Benchmarking Lean Production – Reduce waste Six Sigma – Eliminate defects
52
What is benchmarking?
Comparing internal processes with industry leaders to improve performance.
53
What are the five dimensions of service quality?
Tangibles – Physical appearance of facilities, staff, etc. Reliability – Ability to perform consistently. Responsiveness – Willingness to help. Assurance – Confidence instilled by the provider. Empathy – Understanding and caring for customer needs.
54
What are the five components of the promotional mix?
Advertising, Personal Selling, Sales Promotion, Direct Marketing, and Public Relations.
55
What is Integrated Marketing Communications (IMC)?
It is the coordination of all promotional activities to produce a unified, customer-focused promotional message.
56
What does AIDA stand for?
Attention, Interest, Desire, Action
57
How does AIDA relate to consumer decision-making?
It outlines the steps a consumer takes toward making a purchase.
58
What are the four main objectives of promotion?
Create awareness Stimulate demand Encourage product trial Retain loyal customers
59
What's the difference between primary and selective demand?
Primary demand is for a product category. Selective demand is for a specific brand.
60
What is an advertising appeal?
The approach used to attract attention and influence consumer emotions or actions.
61
What are the main types of advertising appeals?
Fear appeals Humor Sex-based appeals Celebrity testimonials Comparative advertising
62
What is the goal of media selection in advertising?
To choose media that will best inform, persuade, and remind customers while staying within budget and reaching the target audience.
63
What is the primary goal of public relations?
To build a positive image and maintain good relationships with stakeholders.
64
How is publicity different from PR?
Publicity is a part of PR focused on unpaid media coverage; it's less controllable but lower cost.
65
What is cross-promotion?
A joint marketing effort between two brands to meet mutual goals.
66
Name one ethical issue in PR.
Lack of disclosure when product messages are disguised as entertainment.
67
What five factors influence promotional mix effectiveness?
Nature of the market Nature of the product Price Product life cycle stage Budget/funds available
68
What is personal selling?
A person-to-person promotional presentation aimed at making a sale.
69
When is personal selling especially useful?
When competition is high or when products are complex, expensive, or customized.
70
What are the four sales channels?
Over-the-counter selling Field selling Telemarketing Inside selling
71
What are the 7 steps in the personal selling process?
Prospecting and Qualifying Approach Presentation Demonstration Handling Objections Closing Follow-Up
72
What does the acronym NAME stand for in qualifying prospects?
Need, Authority, Money, Eligibility.
73
What are the 7 key functions of a sales manager?
Recruitment and Selection Training Organization Supervision Motivation Compensation Evaluation and Control
74
What is span of control in supervision?
The number of sales reps that report to one manager; optimal is 6-to-1 for technical sales, 10-to-1 for retail.
75
What is sales promotion?
Marketing activities that support personal selling, advertising, and publicity to boost sales or dealer effectiveness.
76
What are examples of consumer-oriented promotions?
Coupons, rebates, sampling, contests, sweepstakes, specialty advertising.
77
What are trade-oriented promotions?
Promotions aimed at wholesalers or retailers like trade allowances, point-of-purchase displays, and trade shows.

Marketing 308 (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions