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Marketing Exam Flashcards

1
Q

consumer products
SSCU

A

-specialty
-shopping
-convenience
-unsought

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2
Q

breadth

A

number of product lines

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3
Q

depth

A

number of products within a product

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4
Q

family brands

A

names, terms, designs, etc, or other features that identify that one seller good or service as distinct from those of other sellers

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5
Q

individual brands

A

an assortment of items that the customer sees as reasonable substitutes for another

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6
Q

cobranding

A

the practice of marketing two or more brands together, on the same package or promotion

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7
Q

brand licensing

A

an agreement where one firm allows another to use its brand name, logo, symbol etc

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8
Q

cobranding

A

the practice of marketing two or more brands together, the same package or promotion

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9
Q

brand elements

A

-brand name
-URLs
-logos and symbols
-characters
-slogans
-jingles

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10
Q

brand equity

A

the value that a specific brand adds to a product or service

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11
Q

core value

A

guiding principles that shape a company’s culture and define its identity

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12
Q

four unique characteristics affecting service
IIII

A

-inseparable
-inconsistent
-intangible
-inventory

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13
Q

intangible

A

cannot be touched, tasted, or seen

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14
Q

inseparable

A

production and consumption are simultaneous

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15
Q

inconsistent

A

training and standardization

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16
Q

inventory

A

how is this service perishable

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17
Q

GAP model

A

-knowledge
-standards
-delivery
-communication

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18
Q

standards gap

A

-achieve service goals through training
-the commitment to service quality

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19
Q

zone of tolerance

A

Consumers often have a range of acceptable outcomes

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20
Q

the five c’s of pricing

A

-competition
-costs
-company objectives
-customers
-channel members

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21
Q

four orientations
PSCC

A

-profit
-sales
-competitor
-customer

22
Q

demand curves

A

knowing demand curves enables us to see the relationship between price and demand

23
Q

price elasticity of demand

A

how do customers respond to price increases or decreases?

% change in quantity / % change in price

24
Q

four types of competition

A

-monopoly
-oligopoly
-monopolistic competition
-pure competition

25
Q

cost-based method

A

-Cost-base pricing methods start with cost
-All costs are calculated on a per-unit basis

26
Q

competitor-based methods

A

-Set prices to signal information on how product compares with competitors
-Premium pricing

27
Q

value-based methods

A

Setting prices that focus on the overall value of the product

28
Q

Legal & ethical aspects of pricing

A

-Deceptive/Illegal
-price fixing
-predatory pricing
-price discrimination

29
Q

Deceptive/Illegal pricing

A

Loss leader pricing, Bait and switch

30
Q

intensive distribution

A

designed to get products into as many outlets as possible

31
Q

Exclusive Distribution

A

grants exclusive geographic territories to one or very few retail customers so no other retailers in the territory can sell a particular brand

32
Q

Selective Distribution

A

grants exclusive geographic territories to one or very few retail customers so no other retailers in the territory can sell a particular brand

33
Q

logistics management

A

used to meet customer demands through the planning, control, and implementation of the effective movement and storage

34
Q

channel structures

A

-direct distribution
-indirect distribution
-multichannel distribution

35
Q

multichannel distribution

A

Using a combination of both direct & indirect distribution channels

36
Q

push strategy

A

increase demand by focusing on wholesalers, distributors, or salespeople, who push the product to consumers

37
Q

pull strategy

A

designed to get consumers to pull the product into the supply chain by demanding retailers carry it

38
Q

Distribution intensity

A

the number of channel members to use at each level of the supply chain

39
Q

Three types of vertical marketing systems
ACC

A

-Administered
-Contractual
-Corporate

40
Q

Different tools of marketing communication

A

-Switching communication mediums to digital marketing and social media
-Leveraging online influencers to sell products

41
Q

Integrated marketing communication (IMC)

A
  • promotion dimension of the four Ps
  • variety of communication disciplines
42
Q

advertising

A

-Most visible element of IMC
-Extremely effective at creating awareness and generating interest

43
Q

personal selling

A

-More expensive than other forms of promotion
-Salespeople can add significant value, which makes the expense worth it

44
Q

sales promotions

A
  • end-user consumers or channel members
    -Used in conjunction with other forms of IMC
45
Q

Direct marketing

A

-Targeted
-Motivates an action
-Is measurable

46
Q

public relations

A

-“Free” media attention
-Importance of PR has grown as the cost of other media has increased

47
Q

Social and Mobile media tools

A

-Websites
-Blogs
-Social media
-Mobile apps

48
Q

set objectives

A

to inform, persuade, and remind customers. that can be accomplished via: push and pull strategy

49
Q

AIDA model

A

-attention
-interest of the customer
-desire
-action

50
Q

types of appeals

A

-fear
-humor
-music
-emotions
-scarcity

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