In Class Content Flashcards

1
Q

CPM

A

Cost per Thousand

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2
Q

Frequency

A

How many times an ad is repeated in a given time period

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3
Q

Reach

A

How many people are exposed to the ad at least once

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4
Q

What is the “kinked” feature of sales promotion

A
  1. From the rise in sales during the time frame of promotions like : BOGO, Coupons, Rebates.
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5
Q

3 “More likely” characteristics of deal prone customers

A
  1. Larger houses
  2. Home Owner
  3. Larger Vehicles
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6
Q

4 “Less Likely characteristics of deal prone customers (coupon clippers?)

A
  1. People with Infants
  2. Smaller Houses
  3. Renting
  4. Smaller Vehicle
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7
Q

3 elements of Short Term Nature of Sales Promotion (Sales ___)

A
  1. Remain Elevated - happens 5% of time…and when people are trying a product out for the first time.
  2. Return to original - Best Case Scenario…Stealing market share from competitors
  3. Dip Below - Most common
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8
Q

Pros and Cons of Tv ads

A

Pros - Visual, Cost very little

Cons - A lot of clutter

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9
Q

The ______ _____ is a good way to measure ?effectiveness

A

Recall Test

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10
Q

Pros of newspaper

A
  1. You can Deliver Samples

2. Larger Ads than magazine

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11
Q

Cons of Print Media

A
  1. Clutter
  2. Reaches Fewer People
  3. Susceptible to placement
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12
Q

Features of Direct Mail Marketing

A

“opt in” direct mail is effective and versatile

Cost is high

For Specific products, it can be effective

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13
Q

What is the best form of Internet marketing?

A

Emailing, particularly if it is opt-in

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14
Q

Large Companies dont like Social Media Marketing because

A

Adds more cost than benefit

Everyone has to have an on-line presence

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15
Q

70% of businesses have a ______ and 40% of businesses have a ____/______

A

Facebook,Pintrest/Instagram

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16
Q

Demand Patterns

A

Penetration - straight horizontal line

Inelastic - Down hill (skimming)

Prestige - Backwards C (Inferring Quality from Price)

Odd-Even - Down Stairs (Consumers perceive prices in ranges)

Bundling - Used to sell new products or unpopular products (sell more for same price)

17
Q

Skimming is

A

what you do in an inelastic market - high price doesn’t affect demand

18
Q

Pricing Effects

A

Unique Value

Substitute Awareness (competitor effect)

Difficult Comparison

Total Expenditure

End Benefit

Sunk Investment

Shared Cost

Price-Quality

Inventory

19
Q

Unique Value effect

A

The more unique, the higher you can charge (because people are less price sensitive

20
Q

Substitute awareness effect

A

The more aware of competitors consumers are, the more price sensitive

21
Q

Total Expenditure Effect

A

Low Expenditure, Low price sensitivity:

High Expenditure, High price Sensitivity

22
Q

End Benefit

A

If it provides a needed benefit, Less price sensitive

electric scooter

23
Q

Price-quality effect

True of Services

A

the greater perceived quality, the less sensitivity

24
Q

Rielley’s Law

A

People are more sensitive to distance than population

Inconvenience/Convenience

25
Index of Retail Saturation (IRS)
Few Competitors and High Demand if High Ratio (Demand$ / sqft of retail space) / category and zip code
26
Wheel of Retailing
Stores have life-cycles too - New Catagory of stores = invariably low priced - They Start diversifying from their core competencies
27
MUPC stands for
Markup based on COST
28
MUPR Stands for (retail)
Markup Based on Selling Price (retail)
29
Strategic Group Map
Line of Equal Value, Blue Clusters, Inter/Intra Competition Intra is much weaker
30
4 Pricing Tactics B, L, P, Y
Bait/Leader Pricing - retailers price nearly at cost to drive traffic to store Loss Leader Pricing - Illegal (Bait and Switch) Price Lining - Make Price irrelevant , people buy more (bargain bin all for $20) Yield Pricing - Charging different amount for everybody (Airlines, Hotels)
31
Second Market Strategy
Pricing in a 2nd market has no fixed cost
32
Cost Plus Strategy
Fixed+Variable=Total Cost
33
Source Issues C, A, P
Credible Attractive Powerful
34
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