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Marketing > Ham > Flashcards

Ham Flashcards

1
Q

Advertising

A

Impersonal one way mass communication about a product or organization that is paid for by a marketer.

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2
Q

AIDA Concept

A

a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire and action

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3
Q

channel

A

a medium of communication such as a voice radio or news paper for transmitting a message

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4
Q

Communication

A

the process by which we exchange or share meaning through a common set of symbols

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5
Q

Competitive advantage

A

One or more unique aspects of an organization that cause target customers to patronize that firm rather than competitors

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6
Q

Decoding

A

Intertpretation of the language and symbols sent by the source through a channel

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7
Q

earned media

A

a category of promotional traffic based on a public relations or publictiy model that gets customers talking about their products or services.

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8
Q

encoding

A

the conversion of a senders ideas and thoughts into a message, usuallyin form of words or signs

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9
Q

feedback

A

the receivers response to a message

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10
Q

Integrated marketing communications

A

the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every contact pint at which a company meets the customer

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11
Q

Interpersonal Communication

A

Direct face o face communication between two or more people

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12
Q

Mass Communication

A

the communication of a concept or message to large audiences.

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13
Q

Noise

A

anything that interferes with distorts or slows down the transmission of information

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14
Q

owned media

A

a new category of promotional tactic based on brands becoming publishers of their own context in order to maximaize the brands value to customers

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15
Q

paid media

A

a category of promotional tactic based on the traditional advertising model whereby a brand pays for media space.

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16
Q

personal selling

A

A purchase situation invlovling a personal, paid for communication between two people in an attempy to influence each other

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17
Q

Promotion

A

communication by marketers that informs persiuades and reminds potential buyers of the product in order to influence an option or elicit a response

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18
Q

Promotional Mix

A

The combination of promotional tools- including advertising, public relations, personal selling, sales promotion, and social media- used to reach the target market and fufill the organization’s overall goal

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19
Q

promotional strategy

A

a plan for the optimal use of the elements of promotion advertising public relations personal selling

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20
Q

Public Relations

A

the marketing function that evaluates public attitudes identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance.

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21
Q

publicity

A

public information about a company, product, service, or issue appearing in the mass media as a news item

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22
Q

Pull strategy

A

a marketing strategy that stimulates consumer demand to obtain product distribution

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23
Q

push strategy

A

A marketing strategy that uses aggressive personal selling and trade advertising to convice a wholesales or a retialer to carry and sell particular mechandise.

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24
Q

Reciever

A

the person who decodes a message

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25
Q

sales promotion

A

marketing activities other than personal selling advertising and public relations that stimulate consumer buying and dealer effectiveness

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26
Q

Sender

A

The originator of the message in the communication process

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27
Q

Advergaming

A

Placing advertising messages in web based or video games to advertise or promote a product, service, organization or issue

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28
Q

advertising appeal

A

a reason for a person to buy a product

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29
Q

Advertising Campaign

A

a series of related advertisments focusing on a common theme, slogan and set of advertising appeals

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30
Q

advertising objective

A

a specific communication task that a campaign should accomplish for a specified target audience during a specified period

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31
Q

Advertising response function

A

a phenomenon in which spending for advertising and sales promotion increses sales or market share up to a certain level but the produces diminishing returns

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32
Q

advocacy adverting

A

a form of advertising in which an organization expresses its views on controversial issues or responds to media attacks

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33
Q

Audience Selectivity

A

the ability of an advertising medium to reach a precisely defind market

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34
Q

Comparative advertising

A

a form of advertising that compares to or more specifically named or shown competing brands on one or more sepcific attributes.

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35
Q

Competitive Advertising

A

a form of advertising designed to influence demand for a specific Brand

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36
Q

consumer sales promotion

A

promotion activiies targeted to the utlimate consumer market

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37
Q

Continous media schedule

A

a media scheduling strategy in whch advertising is run steadily throughout thi advertising perion used for products in the later stages of the product life cycle

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38
Q

Cooperative advertising

A

an arrangment in which the manufacturer and the retailer split the cost of advertising the manufacturers brand.

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39
Q

cost per click

A

the cost assosiated with a consumer clicking on a display on banner ad

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40
Q

cost per contact

A

the cost of reaching one member of the target market

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41
Q

coupon

A

a certificate that entitles consumers to an immediate priec reduction when the product is purchased

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42
Q

Crisis managements

A

a coordinated effort to handle all the effects of unfvorable publcity or another unexpected unfavorable event

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43
Q

flighted media schedule

A

a media scheduling strategy in which ads are run heavily everyother month or every two weeks to achieve a greater impact with an increased frequency and reach at those times

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44
Q

frequency

A

the number of times that an individual is exposed to a given message during a specific period

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45
Q

frequent buyer program

A

a loyalty program in which loyal customers are rewarded for making multiple purchases of a particular good or service

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46
Q

infomecrial

A

a thrity minute or longer advertisement that looks more like a television talk show than a sales pitch

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47
Q

institutional advertising

A

a form of advertising designed to enchance a company’s image rather than promote a particular product

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48
Q

loyalty marketing program

A

a promotional program designed to build long term mutually beneficial relationships betenn a company and its key customers

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49
Q

media mix

A

the combination of media to be used for a promotional campaign.

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50
Q

Media Planning

A

the series of decisions aadvertisers make regarding the selection and use of the media, allowing the marketer to omptimally and cost effectively communicate the message to the target audience

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51
Q

media schedule

A

Designation of the media, the specific publications or programs, and the insertion dates of advertising

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52
Q

medium

A

the channel used to convey a message to the target market

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53
Q

pioneering advertising

A

a form of advertising designated to stimulate primary demand for a new product or product category

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54
Q

point of purchase

A

a promotional display set up at the retialers location to build traffic, advertise the product, or induce impulse buying

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55
Q

premium

A

an extra item offered to the consumer, usually in exchange for some proof of the purchase of the promoted product

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56
Q

product advertising

A

a form of advertising that touts the benefits of a specific good or service

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57
Q

product placement

A

getting the product to the right place in another work other than their own ex. Movie

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58
Q

Public Relations

A

the element in the promotional mix that evaluates public attiitudes indentifies issues that may conecn, and executes programs to gain public understanding and acceptance

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59
Q

pulsing media schedule

A

a mediam scheduling strategy that uses continuous scheduling througout the year coupled with a flighted schedule during the best sales periods

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60
Q

push money

A

money offered o channel intermediares to encourage them to push products, that is to enocurage other members of the channel to sell the products

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61
Q

reach

A

the number of target customers exposed to a commercial at least once during a specific period usually four weeks

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62
Q

rebate

A

a cash refurn for the purschase of a product during a specific period

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63
Q

sampling

A

a promotional program that allows the consumer the opportunity to try a product or service for free

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64
Q

seasonal media schedule

A

a media scheduling strategy that runs advertising only during times of the year wwhn the product is most likely to be used.

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65
Q

sponsorship

A

a public relations strategy in which a company spends money to support an issue cause or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image

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66
Q

trade allowance

A

a price reduction offered to intermediares such as wholesalers and retialers

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67
Q

trade sales promotion

A

promotion activities direct to members of the marketing channel, such as wholesalers and retialsers

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68
Q

unique selling promotion

A

a desireable exclusive believable advertising appeal selected as the theme for a campain.

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69
Q

Campaign management

A

Developing product or service offereings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationship

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70
Q

Cold calling

A

a form of lead generation in which the salesperson approaches potential buyers without any prior knolwedge of the prospect’ needs or financial status

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71
Q

Customer-Centric

A

a philosophy underwhich the company customizes its product and service offering based on data generated through interactions between the customer and the company.

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72
Q

follow-up

A

The final step of the selling process in which the sales person ensures delivery schedules are met, goods or services perform as promised and the buyers employees are properly trained to use the products

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73
Q

interaction

A

the point at which a customer and a company representative exchange information and develop learning relationships

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74
Q

knowledge management

A

the process by which customer information is centralized and shared in order to enhance the relationship between customers and the organization

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75
Q

Lead generation( prospecting)

A

identifacaion of those people most likely to buy the sellers offerings

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76
Q

lead qualifacation

A

determination of a sales prosepect 1) recognized need 2) buying power) 3 ) receptivability and accessibility

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77
Q

learning

A

an informal process of collecting customer data through customer comments and feedback on a product or service performance

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78
Q

needs assesment

A

a determination of the customers specific needs and wants and the range of options the customer has for satisfying them

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79
Q

negotiation

A

the process during which both the sales person and the prospect offer special concessions in an attempt to arrive at a sales agreement

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80
Q

networking

A

a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in profesional and civic organizations

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81
Q

point of sales interactions

A

a touch point in stores or information kiosks that use software to enable customers to easily provide information about themselves without being violated

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82
Q

preapproach

A

a process that describes the homework that must be done by a sales person before he or she contacts a prospect

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83
Q

quota

A

a statement of the sales persons sales goals, usually based on sales volume

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84
Q

refferal

A

a reccomendation to a sales person from a customer or business assosiate

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85
Q

relationship selling

A

a sales practice that involves building, maintainance and enhancing interactions with customers in order to develop long term satisfaction through mutually beneficials partnerships

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86
Q

sales presentation

A

a formal meeting in which the sames person presents a sales proposal to a prospective buyer

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87
Q

sales process(sales cycle)

A

the set of steps a sales person goes through in a particular organization to sell a particular product or service

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88
Q

sales proposal

A

a formal written document or preofessional presentation that outlines how the sales persons product or service will meet or exceed the prospects needs

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89
Q

touch points

A

areas of a business where customers have contact with the company and data may not be gathered.

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90
Q

Blog

A

a publicly accessible web page that functions as an interactive journal, whereby readers can post comments on the authors entries

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91
Q

Corporate Blogs

A

blogs that are sponsored by a company or one of its brands and maintained by one or more of the companys employees

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92
Q

crowdsourcing

A

using customers to develop and market products

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93
Q

earned media

A

a public relation term connoting free media such as mainstream media coverage

94
Q

location based social netwroking

A

Websites that combine the fun of social networking with the utlity of the location based GPS technology

95
Q

media sharing sites

A

Web sites that allow users to upload and distribute multimedia content like videos and photos

96
Q

microblogs

A

blogs with strict post length limits

97
Q

non corporate blogs

A

independent blogs that are not associated with the marketing efforts of any particular company or brand

98
Q

Owned media

A

online content that an organization creates and controls

99
Q

paid media

A

content paid for by a company to be places online

100
Q

review Sites

A

Websites that allow consumers to post read rate and comment on opinions regarding all kinds of product services.

101
Q

Social Commerce

A

a subset of e commerce that involves the interaction and user conribution aspects of social online media to assist online buying and seling of products and services

102
Q

Social Media

A

any tool or service that uses the internet to facilitate conversations

103
Q

social media monitoring

A

the process of identifying and assessing what is being said about a company individual product brand

104
Q

social networking sites

A

Websites that allow individuals to connect or netwrok with friends peers and business assosiates

105
Q

Social New Site

A

websites that allow users to decide which content is promoted on a given website by voting that content up or down

106
Q

Average total cost

A

total cost divided by quantity of output

107
Q

Average Variable cost

A

total variable cost divided by quantity of output

108
Q

Break even analysis

A

a methof of determining what sales volume must be reached before total revenue equals total cost

109
Q

Demand

A

the quantity of product that will be sold in the market at various prices for a specific period

110
Q

elastic demand

A

a situation in which consumer demand is sensitive to changes in price

111
Q

elasticity of demand

A

consumers responsiveness or sensitivity to changes in prices.

112
Q

extranet

A

a private electronic network that links a company with is suppliers and customers

113
Q

fixed cost

A

a cost that does not change as oout put is increased or decreased

114
Q

inelastic demand

A

a situation which an incease or decrease in price will not significantly affect demand for the product

115
Q

keystoning

A

the practice of marking up prices by 100 percent or doubling the price

116
Q

marginal cost

A

the change in total cost assosiated with one unit change in output

117
Q

Marginal revenue

A

the extra revenue assosiatedwith selling an extra unit of output or the change in total revenue with a one unit change in output

118
Q

market share

A

a companys product sales as a percentage of total sales for that industry

119
Q

markup pricing

A

the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for

120
Q

prestige pricing

A

charging a high price to help promote a quality image

121
Q

price

A

that which is given in an exchange acquire a good or service

122
Q

price equilibrium

A

the price at which demand and supply are equal

123
Q

profit

A

revenue minus expenses

124
Q

profit maximization

A

a method of setting prices that occurs when marginal revenue equals marginal cost

125
Q

return on investment

A

net profit after taxes divided by total assets

126
Q

revenue

A

the price charged to a customer multiplied by the number of units

127
Q

selling against the brand

A

stocking well known brand items at high prices in order to sell store brands at discounted prices

128
Q

status quo pricing

A

a pricing objective that maintain existing prices or meets the competitions prices.

129
Q

supply

A

the quanitity of a product that will be offered to the market by a supplier at various prices for a specific period

130
Q

unitary elasticity

A

a situation in which total revenue remains the same when prices change

131
Q

variable cost

A

a cost that varies with the changes in the level of output

132
Q

yield management systems

A

a technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by discounting early purchases, limiting easrly sales at these discounted prices, and overbooking capacity

133
Q

Term

A

Definition

134
Q

80/20 Principle

A

20 % of the consumers generate 80% percent of the demand

135
Q

Benefit Segment

A

Segmentation based on the benefits desired

136
Q

Cannabalization

A

Occurs when sales of a new product cuts into the market of a firms existing product.

137
Q

Concentrated Targeting Strategy

A

A strategy used to select one segmet of a market for tageting market efforts.

138
Q

Demographic Segmentation

A

Sementing Markets by age gender income ethnic back ground and family life cycle

139
Q

Family Life Cycle

A

A series of stages determined by a combination of age marital status and the presence of absencse of children.

140
Q

Geodemographic Segmentation

A

Segmenting Potential customers into neighorhood life style categories.

141
Q

Geographic Segmentation

A

Segmenting Markets by a region of a country or the world, market size, market density or climate.

142
Q

Market

A

a group of people or organizations with needs or wants and ability and willingness to buy.

143
Q

Market Segment

A

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.

144
Q

Market Segmentation

A

The process of dividing a market into meaningful, relatively similar and identifiable segments or groups.

145
Q

multisegment targeting strategy

A

A strategy that chooses two or more well defined market segments and develops a distinct marketing mix for each

146
Q

niche

A

one segment of a market

147
Q

optimizers

A

business customers who consider numerous suppliers, solict bids and study all proposals carefully before selecting one.

148
Q

perceptual mapping

A

a means of displaying or graphing, in two or more dimensions, the location of products, brands or groups of products in consumers minds.

149
Q

position

A

the place of a product or group of products occupies in a consumers mind relative to competeing offerings.

150
Q

positioning

A

developing a specific marketing mix to influence potential customers overall perception of a brand.

151
Q

Product Differentiation

A

a positioning strategy that some firms use to distinguish their products from those of competitors.

152
Q

psychographic segmentation

A

segmenting markets on the basis of personality motives lifestyles and geodemographics

153
Q

repositioning

A

Changing the consumers perceptions of a brand in relation to competing brands.

154
Q

satisficers

A

business consumers wo place an order with the first familiar suppiler to satisfy product and delivery requirements.

155
Q

Segmentation Bases(variables)

A

Characteristics of indviduals groups or organizations

156
Q

Target Market

A

A group of people or organizations for which an organization designs implements and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exhanges.

157
Q

Undifferentiated targeting strategy

A

a marketing approach that views the market as one big market with no individual segments thus uses a single marketing mix.

158
Q

usage-rate segmentation

A

dividing a market by the ammount of product or consumed.

159
Q

Behavioral Targeting(BT)

A

A form of observation that combines a consumers online activity with demographic and psychographic profiles complied in databases.

160
Q

Behavioral Scan

A

A scanner based research program that tracks the purchases of 3000 households through store scanners in each reasearch market

161
Q

Central Location Telephone Facility

A

A specifically Designed phone room used to conduct telephone interviewing

162
Q

Closed Ended Question

A

An interview question that asks the respondent to make a selection from a limited list of responses.

163
Q

Competitive Intelligence

A

An intelligence system that helps managers assss their competition and vendors in order to become more efficient and effective competitors

164
Q

Computer assisted personal interview

A

An interviewing method in which the interviewer reads questions from a computer screen and enters the responsendents data directly into the computer.

165
Q

Computer assisted self interview

A

An intervieiwing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer screen and directly keys his or her answers into a compter

166
Q

Consumer Generated Media

A

media that consumers generate and share amongst themselves.

167
Q

Convience Survey

A

a form of nonprobablity sample using respondents who are convient or readily accessible to the reasearcher. EX. Employees, friends, or relatives.

168
Q

Cross tabulation

A

A method of analyzing data that lets the anaylst look at the responses to one question in relation to the response to one or more other questions

169
Q

Database Marketing

A

the creation of a large computerized file of customers and potential customers profiles and purchase patterns

170
Q

Decision Support System (DSS)

A

An interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions

171
Q

ethnographic research

A

The study of human behavior in its natural context; invoices observation of behavior and physical setting.

172
Q

Executive Interview

A

a type of survey that invloves interviewing business people at their offices concerning industrial products or services.

173
Q

experiment

A

A method of gathering primary data in which the researcher alters one or more variables while observing he effects of those alterations on another variable.

174
Q

Field Service Firm

A

a firm that specializes in interviewing respondents on a subcontracted basis

175
Q

Focus Group

A

Seven to ten people who participate in a group led discussion by a moderater

176
Q

Frame Error

A

an error that occurs when a sample from a population differs from the target population

177
Q

InfoScan

A

a scanner-based sales-tracking service for the consumer packaed goods industry

178
Q

Mall intercept interview

A

a survey research method that involves interviewing people in the common areas of shopping malls.

179
Q

Management Decision Problem

A

A broad based problem that uses marketing research in order for managers to take proper actions.

180
Q

Marketing Information

A

Everday information about developments in the marketing enviroment that managers use to prepare and adjust marketing plans.

181
Q

Marketing Research

A

The process of planning collecting and analyzing data relevant to a marketing decision.

182
Q

marketing research aggregator

A

A company that acquires, catalogs, reformats, segements, and resells reports already published by marketing research firm.

183
Q

Marketing research objective

A

the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information

184
Q

Marketing research problem

A

determining what information is needed and how that information can be obtained efficentely and effectively.

185
Q

measurement error

A

an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process

186
Q

mystery shoppers

A

research posing as customers whogther observational data about a sotre

187
Q

neuromarketing

A

a field of marketing that studies the bodys responses to marketing stimuli

188
Q

nonprobability sample

A

any sample in which little or no attempt is made to get a representative cross section of the population.

189
Q

observation research

A

a research method that relies on four types of observation: people watching people, people watching an activity, machines watching people and machines watching an activity.

190
Q

open ended question

A

an interview question that encourages an answer phrased in the respondents own words.

191
Q

primary data

A

infrormation that is collected for the first time used for solving the particular problem under investigation

192
Q

probability sample

A

a sample in which every element in the population has a known statistical likelihood of being selected

193
Q

random error

A

an error that occurs when the selected sample is an imperfect representation of the overall population

194
Q

Random Sample

A

a sample arranged in such a way that every element of the population has an equal chance of being selected as a part of the sample

195
Q

Research Design

A

Specifies which research questions must be answered, how and when the data will be gathered and how the data will be analyzed

196
Q

Sample

A

a subset of a larger population

197
Q

Sampling Error

A

an error that occurs when a sample somehow does not represent the target population

198
Q

scaled response question

A

a closed ended question to measure the intensity of a rerspondents answer

199
Q

scanner based research

A

a system for gathering information from a single group of respondents by continuosly monitoring the advertisng promotion and pricing thay are exposed to and the things they buy

200
Q

secondary data

A

data previously collected for any other purpose than the one at hand.

201
Q

survery research

A

the most popular techinique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes.

202
Q

Universe

A

the population from which a sample will be drawn

203
Q

Brand

A

a name term symbol design or combination therof that identifies a sellers products and differentiates them from competitiors products

204
Q

brand equity

A

the value of company and brand names

205
Q

brand loyalty

A

consistent preference for one brand over all brands

206
Q

brand mark

A

the elements of a brand that cannot be spoken.

207
Q

brand name

A

the part of a brand that can be spoken, including letters, words and numbers.

208
Q

business product

A

a product used to manufacture other goods or services, to facilitate an organizations operations, or to resell to other customers.

209
Q

captive brand

A

a brand manufactured by a third party for an exclusive retailer, with evidence of that retailers affliation.

210
Q

co-branding

A

placing two or more brand names on a product or its package

211
Q

consumer product

A

a produt bought to satisfy an individuals personal wants

212
Q

convience product

A

a relatively inexpensive item that merits little shopping effort

213
Q

express warranty

A

a written garuntee

214
Q

family branding

A

marketing several products under the same brand name

215
Q

generic product name

A

identifies a product by class ortype and cannot be trademarked

216
Q

global brand

A

a brand that obtains at least a third of its earning from outside its home country, is recognizable outside its home base of customers and has publicly available marketing and financial data.

217
Q

implied warranty

A

an unwritted garuntee that the good or service is fit for the purpose for which it is sold.

218
Q

individual branding

A

using different brand names for different products.

219
Q

informational labeling

A

a type of package labeling designed to help customers make proper product selection and lower their cognitive dissonance.

220
Q

Manufacturers Brand

A

the brand name of a manufacturer

221
Q

persauasive labeling

A

a type of labeling that focuses on a promotional theme or logo

222
Q

planned obsolecence

A

the practice of modifying products so those that have already been sold become obsolete before they actually need replacement

223
Q

private brand

A

a brand name owned by a wholesaler or retailer

224
Q

product

A

everything both favorable and unfavorabe that a person recieves in an exchange

225
Q

product item

A

a specific version of a product that can be designated as a distict offering among an organizations products.

226
Q

product line

A

a group of closely related product items

227
Q

product line depth

A

the number of produc items in a product line

228
Q

product line extension

A

adding additional products to an existing product line in order to compete more broadly in the industry

229
Q

product mix

A

all products that an organization sells

230
Q

product mix width

A

the number of product lines an organization offers

231
Q

product modification

A

changing one or more of a products characteristics

232
Q

Service Mark

A

a trademark for service

Marketing (1 decks)

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