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MRKT Final Vocab

QuestionAnswer
star high growth, high-share businesses;BGC
question marks lowshare business units with high growth; BGC
brand equity the positive differential effect that knowing the brand name has on customer response to the product
product lifecyle the course of a product´s sales andf profits over its life time product development, introduction, growth, maturity and decline
positioning arranging for a product to occupy a clear, distinct and desirable, place relative to competing products in the minds of target consumers
fad a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity
vertical marketing system a distribution channel structure in which procucers, wholesalers and retailers act as a unified system
multi channel a distribution system in which a single firm sets up two or more marketing channels to reach one or more cutomer segments
sals promotion short term incentives to encouragae purchase or sale of a product or service
direct marketing direct communications with carfefully targeted individual consumers both to obtain an immediate response and cultivate lasting consumers
intergrated direct marketing direct marketing campaigns that use multiple vehicals and multiple stages to improve response rates and profits
push using the sales force and trade promotion to push the product through the channels the producer promotes the product to channel members to induce them to carry the product
pull spending a lot on advertising and consumer promotion to induse final consumers to buy the product-cutomers will demand in from channel members hwo will demand it from producers
marketing intellegence everyday information about developments in the marketing enviornment that helps managers prepare and adjust marketing plans
market skimming pricing setting a high price for a new product to skim maximum revenues layer by layer from segments willing to pay the high price; the company makes fewer but more profitable sales
Created by: 669545743
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