Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Marketing Smang

Marketing Test

TermDefinition
Price the amount of money charged for a product or service; the sum of values that customers exchange for the benefits of the product or service
price ceiling keeping the price as high as possible
price flooring keeping the price the same as or lower than the competitor's
value-based pricing starts with the customer and ends with the product
cost-based pricing starts with the product and ends with the customer
price elasticity the change in demand with the change in price
cost-plus pricing whatever it takes to promote the product
break-even pricing no profit
market skimming when you price it high, you can skim profits off your product
market penetration pricing start at the bottom and trickle up
product line pricing setting prices across an entire product line
optional-product pricing pricing optional or accessory products sold with the main product
captive-product pricing pricing products that must be used with the main product
by-product pricing pricing low-value by-products to get rid of them
product bundle pricing pricing bundles of products sold together
discount and allowance pricing reducing prices to reward customer responses such as paying early or promoting the product
segmented pricing adjusting prices to allow for differences in customers, products, or locations
psychological pricing adjusting prices for psych. effect
promotional pricing temporarily reducing prices to increase short-run sales
geographical pricing adjusting prices to account for the geographic location of customers
dynamic pricing adjusting prices continually to meet the characteristics and needs of individual customers and situations
international pricing adjusting prices for international markets
price fixing talking with competitors to set prices
predatory pricing selling below cost with the intention of punishing a competitor or putting them out of business
price discrimination ensure same price to customers at given level of trade
price maintenance requiring dealers to charge a specific retail price
deceptive pricing seller states price that may mislead customers
product anything that can be offered to a market that might satisfy a want or need
services products that are intangible and do not result in the ownership of anything
consumer products products bought by final consumer for personal consumption
social marketing the use of commercial marketing concepts and tools to influence individuals' behavior to improve their well-being
brand identifies the maker or seller of a product or service
product line group of products that are closely related because they function in a similar manner
intangibility services cannot be sensed before purchase
variability quality depends on who provides them and how they provide it
inseparability services cannot be separated from their providers
perishability services cannot be stored for later sale or use
service profit chain the chain that links service firm profits with employee and customer satisfaction
advertising paid, nonpersonal
sales promotion short-term incentives
personal selling purpose is to make sales and build relationships
public relations build good relations with the public
direct marketing purpose is to obtain immediate response and build relationships
affordable method setting the promotion budget at the level management thinks the company can afford
percentage-of-sales method setting the promotion budget at a certain percentage of current or forecasted asles or as a percentage of the unit sales price
competitive-parity method setting the promotion budget to match competitors' outlays
objective-and-task method defining specific objectives, determining the tasks that must be performed to achieve these objectives, and estimated the costs of performing these tasks
return on advertising investment the net return on advertising investment divided by the costs of the advertising investment
personal selling personal presentation by the firm's sales force for the purpose of making sales and building customer relationships
sales promotion short-term incentives that encourage purchase or sales of a product or service
Created by: rossbogel
Popular Marketing sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards