Marketing Exam Flashcards
consumer products
SSCU
-specialty
-shopping
-convenience
-unsought
breadth
number of product lines
depth
number of products within a product
family brands
names, terms, designs, etc, or other features that identify that one seller good or service as distinct from those of other sellers
individual brands
an assortment of items that the customer sees as reasonable substitutes for another
cobranding
the practice of marketing two or more brands together, on the same package or promotion
brand licensing
an agreement where one firm allows another to use its brand name, logo, symbol etc
cobranding
the practice of marketing two or more brands together, the same package or promotion
brand elements
-brand name
-URLs
-logos and symbols
-characters
-slogans
-jingles
brand equity
the value that a specific brand adds to a product or service
core value
guiding principles that shape a company’s culture and define its identity
four unique characteristics affecting service
IIII
-inseparable
-inconsistent
-intangible
-inventory
intangible
cannot be touched, tasted, or seen
inseparable
production and consumption are simultaneous
inconsistent
training and standardization
inventory
how is this service perishable
GAP model
-knowledge
-standards
-delivery
-communication
standards gap
-achieve service goals through training
-the commitment to service quality
zone of tolerance
Consumers often have a range of acceptable outcomes
the five c’s of pricing
-competition
-costs
-company objectives
-customers
-channel members
four orientations
PSCC
-profit
-sales
-competitor
-customer
demand curves
knowing demand curves enables us to see the relationship between price and demand
price elasticity of demand
how do customers respond to price increases or decreases?
% change in quantity / % change in price
four types of competition
-monopoly
-oligopoly
-monopolistic competition
-pure competition
