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Marketing > Midterm > Flashcards

Midterm Flashcards

1
Q

Burtons “to build the best snowboard out there”

A

focused on benefits offered to the customer

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2
Q

SWOT Analysis

A

Strengths, weaknesses, opportunities, threats

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3
Q

ben&jerrys ideals

A

social responsibility. 3 part mission.

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4
Q

business firm

A

privately owned. earns profit

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5
Q

non profit org

A

serves customer but does not make profit

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6
Q

cash cows

A

large amounts of cash, slow growth. more than they can invest profitably in themselves. Cash goes to overhead and other investments.

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7
Q

stars

A

high share, high growth rate. may need more money to fund. often become cash cows

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8
Q

question marks

A

low share, high market growth. Need a lot of cashto maintain market share

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9
Q

dogs

A

low shares, slow growth. little promis

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10
Q

Market penetration

A

strategy to increase sales of CURRENT PRODUCTS in CURRENT MARKETS

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11
Q

Market Development

A

CURRENT PRODUCTS to NEW MARKET

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12
Q

Product Development

A

NEW PRODUCTS to CURRENT MARKETS

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13
Q

Diversification

A

NEW PRODUCTS to NEW MARKETS

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14
Q

Planning phase of Strategic Marketing Process

A

SWOT, Market-Product goal setting, Marketing Program

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15
Q

Implementation phase of Strategic Marketing Process

A

Obtaining resources, designing marketing org. heirarchy, developing planning schedules, executing the marketing program

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16
Q

Evaluation Phase of Strategic Marketing Process

A

compares the results with goals

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17
Q

Exclusive dealing

A

arrangments with reseller to handle only their products. not competitiors

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18
Q

Requirement contracts

A

requires buyer to purchase certain amount for a certain time period

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19
Q

territorial distributorships

A

manufacturer gives distributer sole rights to sell in an area

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20
Q

tying arrangment

A

buy one, must buy the other

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21
Q

consumer bill of rights

A

right to safety, to be informed, to choose to be heard

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22
Q

moral idealism

A

considers certain individual rights/duties as universal

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23
Q

utilitarianism

A

focuses on if benifits exceed costs, behavior is ethical

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24
Q

triple bottom line

A

orgs need to improve life, the planet and make profit

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25
Q

evaluative criteria

A

the objective attributes of a brand and subjective like brand prestige

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26
Q

consideration set

A

the group of brands that are considered

27
Q

reciprocity

A

industrial buying practice where organizations agree to by each other’s good. Legal, but Justice Department disapproves

28
Q

Supply Partnership

A

when a buyer and its supplier adopt mutually beneficial objectives, policies and procedures to lower costs or increase value of products.

29
Q

new buy

A

fiirst time buyer of a product/service

30
Q

straight rebuy

A

reordering existing product from list of acceptable suppliers

31
Q

modified rebuy

A

largely the same, slight different

32
Q

make buy decision

A

during problem recognition.

33
Q

value analysis

A

durring information search- appraisal of design quality and preformance of a product

34
Q

multidomestic marketing strategy

A

different product variations,brand names and ad programs in diff countries

35
Q

global marketing strategies

A

standarizing marketing activities when there are culutural similarities. adapting where differences

36
Q

global brand

A

market under same name in all countries

37
Q

international firms

A

trades in diff countries as extension of strategyt at home

38
Q

multinational firms

A

makrets to each part of world diff.

39
Q

transnational firms

A

views world as one giant market

40
Q

Exporting as market entry

A

producting goods in one country, selling in another

41
Q

licensing as martket entry

A

company offeres the right to a trademark/patent/trade secret in return for a royalty/fee

42
Q

joint venture

A

when local and foreign firms work together to create local

43
Q

direct investment

A

all on your own

44
Q

product extension

A

same product, multiple coiuntries

45
Q

product adaption

A

changing product to make more appropriate for country

46
Q

product invention

A

totall new products

47
Q

primary data

A

facts/figures collected for the project

48
Q

secondary data

A

have already been recorded

49
Q

product item

A

specific product that has a unique brand

50
Q

product lime

A

is a group of products or service items

51
Q

product mix

A

consist of all of the product lines offered by orgs

52
Q

product calss

A

entrie product category

53
Q

product form

A

variations within the product calss

54
Q

multiproduct branding

A

one name for all prodcuts within product class (ex. microsoft/GE)

55
Q

multibranding strategy

A

giving each product distinct name

56
Q

private branding strategyt

A

manufacturers products but sells them under the brand name of a wholesaler/retailer. (items at RadioShack)

57
Q

Mixed Braning Strategy

A

where a firm markets product under its own name and that of a resaler because the two segments are different.

58
Q

pure competition

A

many sellers of similar product

59
Q

monopolistic competition

A

many sellers competing with substitutable products in price range (ie coffee/tea)

60
Q

oligopoly

A

when a few orgs control entire industry

61
Q

pure monopoly

A

one firm owns all

62
Q

values

A

A society’s personally or socially preferable modes of conduct or states of existence that tend to persist over time.

63
Q

beliefs

A

A consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people

Marketing (18 decks)

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