Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Mark201. > Exam. > Flashcards

Exam. Flashcards

1
Q

Why was Moro Gold successful?

A 
Target correct segment: younger, female market with higher disposable income. 
Strong brand image
Distribution strength: Strong ties
Price premium 
Packaging
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Why was Lewis Road Creamery successful?

A 
Partnership with Whittakers 
Relied on three communication channels:
1. Public Relations
2. Social Media 
3. Website 
Packaging was another key element 
Honest - credibility
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is the definition of Marketing?

A

Marketing is the activity, set of institutions, and processes for creating communicating, delivering, and exchanging offerings that have value for customers, clients and partners and society at large.

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

3 key points of the strategic marketing concept:

A
  1. Customers (customer orientation)
  2. Competitors
  3. Long-term relationships
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The hierarchy of Strategies (Planning)

A

Corporate level plans
Strategic Business Unit (SBU) Level Plans - Portfolio Analysis
Functional level plans, e.g. marketing plans

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

Definition of sustainability

A

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

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

Define Value Proposition

A

Value proposition is the core of your competitive advantage. It clearly articulates why someone would want to buy from your company instead of a competitor.

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

Continuous Innovation

A

Modification of an existing product. Sets one brand apart from the competition

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

Dynamically Continuous Innovations

A

A change in the existing product that requires a moderate amount of learning

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

Discontinuous innovations

A

A totally new product that creates major changes in the way we live

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

Brand Extension Advantages

A 
Gives new product instant recognition 
Better acceptance 
Established brand values 
Reduces cost association with introduction 
Open distributions channels
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Brand Extensions Disadvantages

A

Can confuse brand identity - dilute brand

Might harm core brand

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

5 Senses

A 
Vision 
Smell 
Sound
Taste 
Touch
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Marketing Objective

A 
Are expressed in measures that relate to the financial objectives and the organisation’s objectives. 
Specific
Measurable
Attainable 
Relevant 
Time bound (SMART).
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Internet Marketing Benefits

Tangible Benefits

A 
Increased sales from new sales leads giving rise to increased revenue from:
New customers - New markets 
Existing customers (repeat-selling)
Existing customers (cross-selling)
Cost Reductions from:
Customer Service
Online Sales
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Internet Marketing Benefits

Intangible Benefits

A 
Corporate image communication 
Enhance brand image
Improved customer service
Meeting customer expectations
Improved feedback
17
Q

Bricks and Mortar definition

A

Refers to a retailer who sells goods/services through a physical store

18
Q

E-tailer (CLICKS) definition

A

Refers to a retailer who sells goods/services online.

19
Q

Single-channel retailing definition

A

Retailers sell to consumers via one touchpoint (one retail format)

20
Q

Multi-channel retailing definition

A

Retailer sells to consumers through multiple retail formats (point of contact). Customers use these channels individually and retailers manage earth format separately

21
Q

Omni-Channel retailing definition

A

A retailer sells to consumers seamlessly via multiple retail formats. Consumers experience a brand not a channel with a brand.

22
Q

Intensive Distribution

A

As large a number of distribution points as possible

23
Q

Selective distribution

A

A limited number of distribution points

24
Q

Exclusive distribution

A

In a certain region only, or a single distributor

25
Q

What’s the biggest mistake a retailer can make when it comes to ecommerce?

A

Too much focus on a shiny website but not enough on the fundamentals

26
Q

What is Price Indifference Brand?

A

Setting prices more accurately through testing

27
Q

What are 2 distribution objectives examples?

A

1) To have product x sold in x number of supermarkets in (particular city) by (time frame)
2) To deliver product to consumers in x number of days.

28
Q

Pricing Option examples.

A

Cost-plus - add profit margin to operational costs
Target profit pricing - based on break even
Competition pricing
Market orientated - premium pricing, penetration pricing

29
Q

What are the 6 key campaign planning issues?

A

Goal setting - SMART GOALS
Campaign insight
Segmentation and targeting
Budgeting and selecting the digital media mix
Offer and message development
Integration into overall media schedule or plan

30
Q

What are the most common budgeting methods?

A

A percentage of sales method
Affordable method - what the company can afford
Competitive parity method
Objective and task method

Mark201. (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions