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Marketing Review
Unit 3&4 Question Review
| Term | Definition |
|---|---|
| What is Product Service Management (PSM)? | A marketing function that involves obtaining , developing, maintaining and improving a product. |
| What are some factors that affect Product Service Management? | 1.)Customer needs and wants, 2.)Company goals and strategies, 3.)Cost and available resources, 4.)Competition |
| What are some benefits of Product Service Management? | It offers products that consumers want, which increases company profits. |
| What is the Product Life Cycle? | Represents the stages that a product goes through during it's life. |
| What are the four stages of the Product Life Cycle? | 1.)Introduction, 2.)Growth, 3.)Maturity, 4.)Decline |
| What is a Brand? | A brand is a design, symbol, term, or word that identifies a company or products. |
| What is Positioning? | Developing a specific marketing mix to influence potential customers overall perception of a brand. |
| What are the six common bases of positioning? | 1.)Attribute, 2.)Price and Quality, 3.)Use or Applications, 4.)Product Users, 5.)Price Classification, 6.)Competitor |
| Monopoly? | One seller who dominates many buyers |
| Oligopoly? | Where relatively few competitive companies dominate the market. |
| What is Promotion? | Any form of communication a business or organization uses to inform, persuade, and remind. |
| What are the four types of promotion? | 1.)Advertising, 2.)Publicity, 3.)Sales Promotion, 4.)Personal Selling |
| What is a News Release? | A pre-written story about a company. |
| What is a Press Kit? | A folder containing articles, news releases, featured stories, and photographs about a company, product, or person. |
| What is a Press Conference? | A meeting in which media members are invited to hear an announcement about a news worthy event. |
| What are some Channels Of Communication? | 1.)Publications, 2.)Broadcasts, 3.)Direct Mail, 4.)Internet, 5.)Out Of Home |
| What is Marketing Information Management (MIM)? | It's a organized attempt by a business to gather information to make better decisions about marketing issues, Strategies, & problems. |
| What is Marketing Research (MR)? | It involves the marketing function that links the consumer, customers, & the public to the marketer through information. |
| What are some types of Marketing Research? | 1.)Attitude Research, 2.)Media Research, 3.)Product Research |
| What are Channels? | A path through which goods and services flow in one direction( from vender to the consumer). |
Created by:
alonzo.rocha
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