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Accounting > marketing 2 > Flashcards

marketing 2 Flashcards

1
Q

PRODUCT ITEM

A

specific version

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2
Q

product line

A

closely related items

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3
Q

product mix

A

all products

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4
Q

category of new product discontinous/radical innovation

A

New to the world

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5
Q

category of new product Continuous innovation

A

improvements revisions

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6
Q

new product development process

A

new product strategy idea generation screening and evaluation business analysis development market testing commercialization

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7
Q

Five categories of product adopters

A

innovators2.5 early adopters13.5 early majority34 late majority34 laggards16

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8
Q

brand equity

A

the perceived worth of your brand

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9
Q

branding strategies

A

multiproduct brainding brand extension multibranding cobranding private branding

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10
Q

Market segmentation

A

1 common needs 2 respond similarly to marketing action

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11
Q

market segments

A

relatively homogenous groups of prospective buyers that result from the market segmentation process

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12
Q

steps in segmenting and targeiting markets

A

1 group buyers into segments 2 select target market 3 advertise to target market

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13
Q

step 1 group buyers into segments

A

simple and cheap profit potential similiar needs difference of needs of of buyers among segments

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14
Q

ways to segment

A

geographic segment and demographic segment: age gender income education psychographic segmentation group by personality traits values attitudes interest behavioral segmentation when they pruchase use or think of buying a product usage rate segmentation geodemographic segmentation

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15
Q

80-20 rules

A

20 percent of customers generate 80 of demand

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16
Q

criteria in selecting target market

A

Size Growth Competition Cost org objective and resources

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17
Q

Positioning

A

creates a image or perception of brand

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18
Q

repositioning

A

changes the way a brand looks like old spice

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19
Q

two approaches to product positioning

A

head to head or differentiation

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20
Q

positioning statement

A

for target market brand x is the only brand amongst all the competitive set that unique value claim because reason to believe

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21
Q

perceptual map

A

is the map like the one we did with cars classy old economic ex. has to do with where consumers see a product

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22
Q

Product

A

a product is a good service or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers needs and is received in exchange for money or something else of vlaue

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23
Q

product types

A

business product product used to manufacture to facilitate org operation or to resell to other consumers consumer product product bought by ultiate consumer

24
Q

types of consumer products

A

convenience products shopping products specialty products

25
Q

New product development process

A

1 new product strategy dev 2 idea generation 3 screening and evaluation 4 business analysis 5 development 6 market testing 7 commercialization

26
Q

step 1

A

new product strategy dev identifies strategic role in firms portfolio protocol 1 defined target 2 cust specific needs and wants 3 what product is

27
Q

stage 2`

A

idea generation pool of concepts for new product

28
Q

stage 3

A

screening and evaluation internal tech difficulty if it meets objectives in step 1 external concept test preliminary consumer testing of product idea for resonation

29
Q

stage 4

A

business analysis specifics of marketing strategy

30
Q

stage 5

A

alpha and beta testing of product

31
Q

stage 6

A

market testing test market offers product for limited basis in defined are controlled test market contracts entire test program to outside service simulated test markets are test that simulate full scale test market

32
Q

stage 7

A

commercialization full scale production and sales

33
Q

stages of product lifecycle

A

intro growth maturity decline

34
Q

intro stage

A

small amount of sales minimal profit primary demand: demand for category and selective demand demand for brand

35
Q

growth

A

rapid increase in sales increase in competitors and substitutes

36
Q

Maturity

A

sales slow intense price competition and need to differentiate

37
Q

decline

A

Profits drop either harvest offer product reduce marketing cost or delete exit market

38
Q

product diffusion

A

the rate at which the idea goes from one consumer to the next

39
Q

multiproduct branding

A

branding strategy where company uses one name for al its products

40
Q

brand equity

A

the perceived worth of a brand like jordans

41
Q

brand personality

A

personalit associated with a brand

42
Q

branding

A

uses a name logo slogan

43
Q

brand extensions

A

uses brand for different product risk of brand dilution

44
Q

co branding

A

two prands one product like clorox with bleach

45
Q

multibranding

A

different brand names aimed at different segments cant use brand equity of other brand

46
Q

private branding

A

product sold under brand name of wholesaler

47
Q

label

A

product or brand who made it how it is used when it was made ingredients

48
Q

retailing

A

includes all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use.

49
Q

classification of retail operation

A

ownership level of service merchandise

50
Q

category killers

A

category specialist stores like toys r us

51
Q

non store retailing

A

direct selling telemarketing online retailing relevision home shopping direct mail and catalogs automatic vending

52
Q

product line depth

A

limited line stores single line stores specialty outlets

53
Q

product line breadth

A

general merchandise scrambled merchandising hypermarket supercenter

54
Q

automatic vending

A

serve customers where stores cant prices are higher

55
Q

types of retailers

A

inderpendent retailers chains stores and franchises

Accounting (19 decks)

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