Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GB214 > MARKETING EXAM FINAL. > Flashcards

MARKETING EXAM FINAL. Flashcards

1
Q

goods vs. services variability

A

goods : invariable
services: change across customers / time
TECHNOLOGY REDUCING VARIABILITY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

goods major qualiteis

A

search and expereince

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what is product mix

A

a comapny’s product lines

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

pricing objectievs

A 
PICCS
profit
image enhancement
customer satisfaction
competitive effect
sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what is brand equity

A

the worth of a brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

distribution

A

the right product at the right time,availabile to the right customer at the right price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

how much distribution? wide

A
  • heavy promotion
  • lower prices
  • average/ lower quality products
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

market maturity stage in PLC

A
  • competition increase
  • industry sales level off
  • promotion focus on product superiority
  • product line extended
  • marketing cost increase, price fall
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

diffusion of innovation normal curve order

A 
IEELL
innovators
early adopters
early majority
late majority
laggards / non- adopters
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

brand extensions

A

attaching popular brand name to a new product in an unrelated product category

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

main service qualities

A
  • intangible
  • inseparable
  • perishable
  • variable
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

what directly affects pricing

A

the Cs of marketing:

  • CUSTOMER
  • COMPETITOR
  • COMPANY
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

old products possibilities in market decline stage

A

divested - sell early to get best price
harvested - support reduced
rejuvenated - refurbished with new beenfits

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

how advertising goals relate to PLC

A 
introduction = AWARENESS/ INFO
growth = ENHANCE positive attitudes
maturity = REMIND customers
decline = REDUCE ad spending
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

self branding

A

branding own ingredient to differentaite quality from competitors
ex. tide everfresh

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

intro stage in PLC

A
  • low sales
  • heavy marketing
  • low price
  • limited distribution
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

AIDA goal model

A 
attention, intrest, desire, action
caption attention
pique interest
make customers desire product
get customer to act / buy
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

what is co branding

A

two companies create a product from both companeis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

exclusive distribution channel

A
  • extremely selective
  • manufacturers = most control
  • might become monopoly
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

what is price elasticity

A
  • how much does demand increase or decrease with a price change
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

market decline stage in PLC

A
  • sales and profit decline
  • new products replace older generations
  • old products : divested, harvested, rejuvenated
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

search qualities for goods and services

A

attributes that can be evaluated prior to purchase as the customer learns about competitive offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

growth stage in PLC

A
  • sales, distrubution, price incerase
  • competitors enter and kill each other off
  • product needs competitive advanatge
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

emotional ad types

A

humor, fear, subliminal ,spokesperson,image

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

positive benefits of branding for customers

A
  • identfiy company ownership
  • allow for predictable quality
  • easier for customers to make decisions
  • status symbols
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

2 reasons for advertising

A
  • facilitates customers’ awareness

- tries to persuade potetntail customer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

transaction cost analysis

A
  • wants to minimize production and governance costs
  • production = bringing product to market
  • governance = involved wih relation issues incurred by controlling partners
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

pruned product lines

A

no distinctions between brands or lines

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

what is the product life cycle

A

evolution and duration of a product in the marketplace

- shows creation and demise of products

30
Q

advertising goals categories

A

cognition : increasing awareness of brand
affect : enhance attitudes / positive associations
behavior : encouraging more buying of brand

31
Q

elasticity equation

A

Q2-Q1 / Q1 OVER

P2-P1/P1

32
Q

supplemented product liens

A

opportunity for producing something customers will value

33
Q

what is depth

A

number of products in a line. example different size refrigerators

34
Q

define core and value added

A

core = essential to product. expected. can change
value added = supplemental
- used to differentiate and improve satisfaction
- identify competition

35
Q

globalization vs global brands

A

globalization : diffrent names in different countries

global brands : same brand in all countries

36
Q

elastic

A

demand changes

PRICE of item goes down and consumers buy twice as much

37
Q

elasticity results

A

E> 1 elastic
E between 0 and 1 inelastic
E = 1 unitary

38
Q

goods and services qualities

A
  • search qualities : goods
  • experience qualities: goods and services
  • credence qualities: services
39
Q

inelastic

A

demand barely changes with a price change.

PRICE of item geos down and consumers buy same amount

40
Q

selective distribution channel

A 
limited distrubution
- complex / expensive products
EX. cars, computers
- push strategy. they want partners to push goods to consumer
- manufacturer has more control
41
Q

how much distribution? exclusive

A
  • less promotion
  • higher prices
  • higher quality
42
Q

types of activities in a channel

A

customer-oriented (ordering)
product-oriented (storage)
marketing centric (promotion)

43
Q

advantages of private label brands

A

decent quality for lower prices due to reduced ad. costs

44
Q

interbrand - brand measuring approach

A

assessment of the value of a firm, after subtracting its physical and financial assets

45
Q

what is a brand

A

portfolio of qualities associated with a name

  • promises to customers
  • signal info to customers
46
Q

evaluating advertising

A 
day after RECALL tests (which brands did u see last night)
RECOGNITION tests ( do you remembere seeing \_\_ ad)
47
Q

credence qualities for goods and services

A

qualities difficult to judge even post consumption.

  • ex. did the psychologist improve you?
  • professional service providers
48
Q

ingredient branding

A

cobranding in which one company adds value to a host product.
ex. intel in many PCs

49
Q

retailers classified by

A
  • level of service provided

- product assortment carried

50
Q

brand extensions : product category extensions

A

increase breadth, new product line

- ex. amazon sells different things

51
Q

what is breadth

A

the number of different product lines a company has

ex. company sells refridgerators, washers, dryers

52
Q

break-evens

A

determine the number of products that must be sold at a specific price to generate enough revenue to cover total cost

53
Q

image ads

A

more abstract message

  • positioning
  • distinguish itself
54
Q

positive beenfits of branding for company

A
  • loyalty
  • premium prices
  • single firm to pursue multiple market segments
55
Q

experience qualities for goods and services

A

attributes that need trial/consumption before evaluation.

- ex. if friends recommend new restaurant

56
Q

intensive distribution channel

A

widely distributed

ex. drugstores, supermarkets, convenience stores
- simple, inexpensive products
- pull strategy

57
Q

house of brands approach

A

introducing a new brand name for every product line

  • reason = any probelms with one brand should not influence other brands
  • allows target multiple segments
  • more advertising expense
    ex. P & G has so many brands
58
Q

phases in the PLC

A

introductory
growth
maturity
decline

IGMD

59
Q

price objectives : sales and market share

A

develop bundle pricing in order to increase market share

60
Q

brand extensions : line extensions

A

new product within a line. depth

ex. different Cheerios flavors

61
Q

profit equation

A

((price - variable costs) x demand)) - fixed costs

62
Q

private label

A

TYPE OF backward integration - relationship with manufacturer that I own
- gives

63
Q

how are ads tested

A

memory tests (recall and reognition)
attitudinal tests
behavioral measures

64
Q

cognitive ad categories

A

comparative/ non comparative
product demonstration
drama
one/two sided argument

65
Q

umbrella branding

A

company attaches same brand name to all of its products

- nike : makes shoes, sports jerseys, g bags etc.

66
Q

comparative vs non comparative cognitive ad

A

non comparative = only 1 brand feautures, attributes, image

comparative ad = 2 or mroe brand’s

67
Q

forward / backward integration

A 
forward = open own retail stores
backward = controlling raw material inputs
68
Q

types of ads

A

emotional, cognitive, image

69
Q

what is a firm’s market offering comprised of

A
  • core

- value addeds

70
Q

distribution channel

A

firms that are interconnected in their quest to provide sellers a way to sell their products and buyers a means of buying them.
EXAMPLE: manufactrueres, wholesalers, retailers

GB214 (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions