Final

Question 1

a market research technique that asks customers to make a series of trade-offs between component attributes; analysis of these tradeoffs helps companies determine how to develop and price the features of products and services

Answer 1

conjoint analysis

Question 2

dividing the market into unique demand spaces that exist at the intersection of different usage occasions and consumers’ emotional and functional needs

Answer 2

demand space segmentation

Question 3

a statistical method for identifying unmeasured class membership among subjects using categorical and/or continuous observed variables

Answer 3

latent class analysis

Question 4

a product delivery approach utilizing flexible, computer-aided manufacturing systems. Each customer can select and customize the product’s final features to his or her individual preferences

Answer 4

mass customization

Question 5

an approach that analyzes a consumer’s evaluation of an object (product, brand, service, etc.) as a function of the beliefs that he or she has toward the object on various attributes and the importance of these attributes

Answer 5

multi-attribute model

Question 6

A marketing approach based on customer relationship management (CRM), emphasizing personalized relationships with individual customers.

Answer 6

one-to-one marketing

Question 7

defining a value proposition for the target segments; differentiating a product or service (or its brand) from others in the perception of consumers

Answer 7

positioning

Question 8

A marketing planning process that involves dividing a broad target market into subsets or groups of consumers who have common needs or characteristics

Answer 8

segmentation

Question 9

Selecting the potential customer segments to whom a company wishes to sell products or services, after an analysis of each segment’s attractiveness

Answer 9

targeting

Question 10

A strategy for positioning a product or service by deliberately dissociating it from its normal product category and associating it with a different one

Answer 10

breakaway positioning

Question 11

a strategy for repositioning a brand that involves taking a brand that has historically been positioned to appeal to one gender and repositioning it for the other gender

Answer 11

gender-bending

Question 12

adding new attributes, benefits, or value for customers to consider

Answer 12

horizontal positioning

Question 13

a brand that derives most of its value from what it symbolizes and how it helps consumers present their identities. Repositioning an identity brand is difficult because its consumers rely on it to present their identities to others.

Answer 13

identity brand

Question 14

those things that are distinguishing attributes of the product, but that ostensibly offer consumers no economic, functional, experiential, or social value

Answer 14

irrelevant attributes

Question 15

a strategy for positioning a product or service in which managers strip away attributes consumers expect in a mature product and add some surprising new ones

Answer 15

reverse positioning

Question 16

a strategy for positioning a product or service by associating a tainted product with a category consumers embrace in order to overcome consumer resistance

Answer 16

stealth positioning

Question 17

a type of value claim that offers a prospective customer a specific, unique, and superior claim about a product or service that provides a reason to purchase it

Answer 17

unique selling proposition (USP)

Question 18

the suite of benefits that a firm promises to deliver to its customers to produce value in their lives

Answer 18

value proposition

Question 19

highlighting attributes that are shared among brands, but stressing a particular brand’s superior performance on those attributes, using superlatives such as smaller, faster, and cheaper to delineate a natural pecking order among brands.

Answer 19

vertical positioning

Question 20

Experiments in which the impact of a single variable is tested. A/B tests are commonly used to test ad copy and landing page copy or designs to determine which version better drives the desired result

Answer 20

A/B testing

Question 21

process of clicking through an online advertisement to the advertiser’s destination, CTR is the average number of click-throughs per hundred ad impressions, expressed as a %. Way of measuring the success of an online advertising campaign for a particular website as well as the effectiveness of an email campaign.

Answer 21

click-through rate (CTR)

Question 22

a type of website that supports the gathering, organizing, and online presentation of content related to a particular theme or topic. For most companies, content curation is being used to drive search engine (SEO). A company that links multiple pieces of content about a specific subject increases its exposure when that topic is searched.

Answer 22

content-curation website

Question 23

a type of website that supports the posting or publishing of a user’s own material/content. Content sharing can be used as a way to target an audience with a specific niche interest or professional expertise

Answer 23

content-sharing website

Question 24

information stored on a computer by a website that remembers user’s preferences. Enables marketers to customize web pages for identified users, but privacy advocates raise concerns about tracking coolies that compile long-term records of individual’s browsing histories.

Answer 24

cookie

Question 25

an internet advertising metric that can be defined simply as "the amount spend to get an ad click. CPC is used as a billing mechanism in the pay per click advertising model.

Answer 25

cost per click (CPC)

Question 26

the dollar value of a customer relationship, based on the present value of the projected future cash flows form the customer relationship. It represents an upper limit on spending to acquire new customers.

Answer 26

customer lifetime value (CLV)

Question 27

graphic advertising on the internet that appears next to content on web pages, instant messaging (IM) applications, email, and so forth. These ads come in standardized ad sizes, and inlude text, logoos, ictures, videos, et.c

Answer 27

display ad

Question 28

media spread when customers, the press, and the public share a company's content or discuss a company's brand through word of mouth. It is stimulated by viral and social media marketing.

Answer 28

earned media

Question 29

the rapid spread of popular image, video, or link through a population by its being frequently shared with a number of individuals through electronic mail and social networking sites.

Answer 29

going viral

Question 30

a single instance of an online advertisement being displayed

Answer 30

impression

Question 31

term coined by google to describe an intent-rich moment when a person turns to a device to act on a need- to know, go , do or buy.

Answer 31

micro moments

Question 32

strategy of sending appropriate ads or message at the moment when the consumer is about to make a decision about a relevant product or service

Answer 32

moment-based marketing

Question 33

a metric that tracks the transactions that occur in a physical business or retail location, and in other offline channels, after a customer sees or engages with offline or online campaigns

Answer 33

offline conversations

Question 34

media or channels created and controlled by the brand, such as its websites, blogs, and mobile apps

Answer 34

owned media

Question 35

the media for which a company pays an online search engine or publisher to attract potential customers

Answer 35

paid media

Question 36

a map that shows consumers perception of various brands. brands that are close to each other in this map are perceived by consumers as substitutes for one another, and therefore these brands compete more intensely with each other

Answer 36

perceptual map

Question 37

a type of contextual advertising through which website owners pay an ad fee, usually based on click-through rate or ad views, to have their ad shown on search result pages

Answer 37

search ad

Question 38

the process of using features that make a company website rank higher in the organic link on a search engine without paying any money

Answer 38

search engine optimization (SEO)

Question 39

a controlled experiment in which subjects are randomized into either test or control groups

Answer 39

test-control methodology

Question 40

a marketing method that relies on consumers spreading information about a product or service.

Answer 40

word-of-mouth marketing

Question 41

a pre-test market model that forecasts sales or market share (or both) for a new brand, provides a structure for evaluating alternative marketing strategies, and generates diagnostics that aid in improving the product

Answer 41

ASSESSOR

Question 42

A concept test that assesses a sample of consumers' reactions to a concept; a key measure is their expressed purchase intention. With this measure and others, such as perceived uniqueness of the product, BASES makes a market share forecast

Answer 42

BASES test

Question 43

the value premium that a company realizes from a product with a recognizable name when compared to its generic equivalent

Answer 43

brand equity

Question 44

product line extension marketed under the same general brand as a previous items. To distinguish the brand extension from the other items under the primary brand, one can either add a secondary brand identification or add a generic. A brand extension is usually aimed at another segment of the general market for the overall brand.

Answer 44

brand extension

Question 45

a reduction in sales volumes, sales revenue, or market share of one product as a result of the introduction of a new product by the same producer

Answer 45

cannibalization

Question 46

1. a concept related to the manner in which advertising supposedly works; it is based on the premise that advertising supposedly works,; it is based on the premise that advertising moves individuals systematically through a series of psychological stages (awareness, interest, action, etc). 2. an early model that depicted consumer purchasing as a series of stages including awareness, knowledge, liking, preference, conviction, and purchase

Answer 46

hierarchy of effects model

Question 47

the detailed specification of a manufactured item's parts and their relationship to the whole. A product design needs to take into account how the item will perform its intended functionality in an efficient, safe, and reliable manner. the product also needs to be capable of being made economically and be attracted to targeted customers.

Answer 47

product item design

Question 48

a group of products or services marketed and positioned by an organization to one general market. The products have some characteristics, customers, or uses in common, and they may also share technologies, distribution channels, prices, services, and so on.

Answer 48

product line

Question 49

the number of product varieties (subcategories) within a product or service line or category. Companies with deep product lines focus on a specialized product mix or an expertise in a specialized service offering.

Answer 49

product line depth

Question 50

a new product marketed by an organization that already has a at least one other product being sold in that product or market area. usually new flavors, sizes, models, strengths, etc.

Answer 50

product line extension

Question 51

the number of the product or service lines (categories) that a company offers to its customers

Answer 51

product mix breadth

Question 52

a specific unit of inventory that is carried as a separate, identifiable unit.

Answer 52

stock-keeping unit (SKU)

Question 53

the maximum amount a consumer thinks a product or service is worth.

Answer 53

willingness to pay

Question 54

product's life cycle stages

Answer 54

introduction growth maturing decline

Question 55

purchase decisions that entail a deliberative, information-based processing of relevant product characteristics

Answer 55

cognitive decision making

Question 56

purchase decisions in which consumers consider (or attempt to consider) all of the attributes that are relevant, making trade-offs between and among those attributes

Answer 56

compensatory decision making

Question 57

the set of individuals who affect, influence, and take part in a decision to buy

Answer 57

decision-making unit (DMU)

Question 58

purchase decisions that entail a subjective linking for one option over another

Answer 58

emotional decision making

Question 59

purchase decisions in which the buyer is fully engaged, the decision making tends to be effortful, the time frame tends to be relatively long, and the consequences of making a good versus a bad choice tend to be great and visible

Answer 59

high-involvement decision making

Question 60

purchase decisions that require little effort, happen quickly, and are perceived by consumers as having low risk

Answer 60

low-involvement decision making

Question 61

purchase decisions in which consumers consider some, but not all, of a product's attributes, and ignore potential tradeoffs between those attributes; a product's failure to reach an acceptable threshold on one attribute cannot be compensated for by high performance on other attributes

Answer 61

non-compensatory decision making

Question 62

purchase decisions in which consumers are motivated to purchase the best alternative they can

Answer 62

optimizing decision making

Question 63

purchase decisions in which consumers settle for an alternative that is "good enough" or that passes some acceptable threshold

Answer 63

"satisficing" decision making

Question 64

an analysis to determine the sales volume required to cover fixed and variable costs fully. profit at the breakeven sales volume is zero.

Answer 64

breakeven analysis

Question 65

a financial transaction, such as a sale, that takes place between businesses, such as between a manufacturer and wholesaler or between a wholesaler and a retailer

Answer 65

B2B

Question 66

a financial transaction, such as a sale, that takes place between a company and consumers who are the end users of a product

Answer 66

B2C

Question 67

an approach to pricing in which the posted price is based on the cost of producing a product, plus some additional margin for the firm to realize a return. In the simplest version, called cost-plus pricing, a firm typically adds a percentage to the costs of production to arrive at the posted price

Answer 67

cost-oriented pricing

Question 68

in economics, a graphic representation of the relationship between product price and the quantity of the product demanded. it is drawn with the price on the vertical axis on the graph and quantity demanded on the horizontal axis

Answer 68

demand curve

Question 69

an approach to pricing in which the posted price varies according to the current level of market demand

Answer 69

dynamic pricing

Question 70

a product or service in which product characteristics, such as quality or price, are difficult to observe in advance, but can be ascertained upon consumption

Answer 70

experience good

Question 71

a conceptual tool used to assess the change in unit sales required to maintain profitability in light of a change in product price (which in turn changes the unit margin)

Answer 71

marginal math

Question 72

the purposeful setting of price at varying levels across time, across geographic regions, and/or across channels to assess consumer response to the various prices

Answer 72

price experimentation

Question 73

the degree to which an individual's willingness to purchase changes with a change in price

Answer 73

price sensitivity

Question 74

a product or service with features and characteristics easily evaluated before purchase. search goods are more subject to substitution and price competition than experience goods.

Answer 74

search good

Question 75

an approach to pricing in which the posted price is based on the value of a product as perceived by the customer

Answer 75

value-based pricing

Question 76

a participant in a distribution channel (such as a manufacturer or service provider) who crafts a strategy for going to market that will produce profits for the channel partners while addressing customers' concerns and interests

Answer 76

channel steward

Question 77

the construction and continual guidance and management of a set of channel tasks or functions that mirrors the needs of the company's customers as closely as possible

Answer 77

channel stewardship

Question 78

channel functions that create value for the customer by making product availability convenient and allowing for better support through information and service

Answer 78

channel value chain activities

Question 79

the extent of retail coverage necessary to reach the customers in the market

Answer 79

coverage intensity

Question 80

or wholesaler - one who sells products to retailers or business end users. distributors own and take physical control of inventory; they also promote the products or services and arrange for financing, ordering, and payment with their customers

Answer 80

distributor

Question 81

or broker - specialized sales agents hired by the supplier and/or manufacturer who focus on a particular customer segment. They typically do not take physical control of the products or services they sell, and they are compensated through commissions or fees

Answer 81

jobber

Question 82

an inventory management and product delivery system that takes advantage of point of sale for product tracking to compress the time between product or service design concept and appearance on the retail shelf

Answer 82

quick response (QR) system

Question 83

one of a variety of retail formats through which products are sold to end customers, usually individuals. Retailer formats include (but are not limited to) department stores, mass merchandisers, supercenters (hypermarkets), convenience stores, discount stores, websites, catalogs, warehouse clubs, and drugstores

Answer 83

retailer

Question 84

producer (or manufacturer), assembler, or designer of a product or service being sold

Answer 84

supplier

Question 85

3 elements in the marketing strategy formation

Answer 85

analysis, decisions, outcomes

Question 86

aspiration decision - what are the 3 steps?

Answer 86

1. segmenting the market to identify the possible groups to serve 2. targeting a specific group or groups to address 3. positioning in the mind of the selected customers

Question 87

action plan decision - what are the four Ps that make this up?

Answer 87

product + promotion + place = value creating price = value capturing

Question 88

5 Cs of Analysis

Answer 88

Company, Competition, Customer, Collaborators, Context