semester 1- FInal review Flashcards
Which utility is not directly related to marketing?
form
market shares the total_____ generated by competing companies
sales
Seth ask for cookie crisps from his mom went to go to the store, Seth is the____
consumer
Seth asked for Cookie Crisp from his mom when she goes to the store mom is the_____
customer
getting your nails done, your oil change, you’re receiving a _______
serivce
market segmentation is separated a large group of people into smaller groups based on______
customer profile
marketing information management-
the system that organizes and evaluates marketing operations
product service management
an organizational function that guides every step of a product’s lifecycle — from development to positioning and pricing — by focusing on the product and its customers first and foremost.
channel distribution
a path that a product or service could take on its way to market.
information about where people live is _____
geographics
stats about population by personal characteristics is____
demographics
information about values and attitude is_____
psychographics
looking at benefits desired, shopping patterns, and usage rates is_______
behaivoral
what is a target market?
a group of people identified as the most likely to become customers
what does SWOT stand for?
s = strength W= weakness O= opportunities T= threats
What is an executive summary
summarizes what the whole product is about without having to look at the whole project
using a single Market strategy to reach all of your customers is what type of marketing?-
mass marketing
money left over after taxes is called
disposable income
and analysts of outside influences that may have an impact on organization is called
environmental scan
the stages and economy goes through due to recurring _____ and _____ is called the business cycle.
slowdown and growth
- low unemployment and high consumer spend
Prosperity-
a period of economic slowdown that lasts for 6 months
recession
unemployment rising and low consumer spending
depression
reduced unemployment increase consumer spending
recovery
Earth’s natural resources anything on land in its natural state
land
refers to people work in the economy
labor
Money needed to start in operate a business National level infrastructure- roads, ports, sanitation facilities, and utilities
capital
which economy type does the government have complete control and involvement in decisions?
communist
————Is closely associated with democracy-
capitalism
-low cost items given to customer at a discount or free
-certificates that give discounts on goods and services
-also known as cross promotion or cross-selling
- frequent buyer programs reward programs and rewards customers for buying their a lot
-premium
-coupon
-promotional tie in
- loyalty program
- placed in high traffic areas to promote impulse purchase
- using a brand name product in a movie, tv, show, etc.
- point of sale display
-product placement-
- get customer to come to you
- bring the product to the customer convince retailers to stock the promoted product
- pull policy
- push policy
- non-personal promotion in one way communication
- activities to create a favorable image for a company, product, or policies
- direct contact with customer and salesperson examples personal meeting, telemarketing, email contract.
-advertising
- public relations
- personal selling
- represents on marketing activities besides personal selling, advertising, public relations- used to stimulate purchasing and sales. it increases sales and informs customers, creates a positive business or corporate image.
- sales promotion
