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BBl10 Chapter 9 Test

Grade Nine Chapter Test

QuestionAnswer
Marketing All activities involved in getting goods & services to the consumer.
Product Life Cycle (Traditional Products) 5 Stages: 1. Product Introduction 2. Growth 3. Maturity 4. Decline 5. Decision Point
Style Curve illustrates product sales over time
Non-traditional products have stages but differently
Niche a small pocket or hole in the market that is the cause of few competitors
Niche marketers
Knock offs (imitators) usually enter market and those fads die quickly leaving large inventory -> sucess
Seasonal Products only popular during season
Inventory Management balancing product quantity with sales
Strategy a plan for acheiving goals
Pull strategy Businesses are going to increase consumer demand directly by advertising. When consumers want products, retailers will carry product as in the pull strategy.
How to use push & pull Push can be used on its own/by itself. Pull cant be used on its own.
Push Strategy Uses promotion to encourage channel partners to stock and promote the product to their customers.
Marketing Research collecting and analysis of info for marketing
Types of Marketing Research 1. Consumer Research 2. Market Research 3. Motivational Research 4. Pricing Research 5. Competitive Research 6. Product Research 7.Advertising Research
Advertising paid for promotions, always good
Publicity an unpaid media hype, can be good or bad
Purpose of Advertising Introduction Stage, Growth, Maturity, Decline
Introduction Stage lots of advertising (to create brand awareness)
Growth increase advertising (ahead of competition)
Maturity periodic advertising (as reminders)
Decline increase advertising
Advertising Medium 1. Direct to Home -> flyers2. Out of Home -> billboards, bus stops
Sales Promotions any attempt to sell a product
Types of Sales Promotion 1. Coupons2. Contests3. Premiums -giveaways4. Samples5. Special Events
Created by: 1557315433
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