MKT 300 Exam 3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. | show 🗑
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| are a promise to deliver specific benefits associated with products or services to consumers. | show 🗑
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| Brand Elements | show 🗑
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| show | Brand equity
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| show | a distinct position in consumer’s minds based on relevant benefits and creates an emotional connection between businesses and consumers
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| Brand Equity is | show 🗑
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| Brand Benefits To Consumers | show 🗑
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| show | Master Brand
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| show | Source of competitive advantage
Predictability and security of demand
Barriers to entry
Financial returns
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| show | If Market value /tangible assets>1, then we’ve created intangible value
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| show | Devoted to Brand
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| Brand Asset Valuator (BAV) | show 🗑
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| Interbrand’s Brand Equity Formula | show 🗑
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| show | positioning
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| show | Provide Identity
Project the Right Message
Saves Time
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| Building Strong Brand pyramid | show 🗑
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| salient and feeling-related associations | show 🗑
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| show | Brand personality
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| show | Brand Archetypes
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| Can package size accelerate usage volume? | show 🗑
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| show | People perceive tall, slender glasses to hold more than short,wide glasses
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| Functions of Packaging | show 🗑
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| reason why you buy, This is the need that the product fulfills | show 🗑
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| Bonus, not necessary but makes it nicer, All of the extra features of the product that might not be necessary for the product to work, but that can enhance the experience | show 🗑
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| show | Line Extension ,
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| show | Brand Extensions ,
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| Successful new products: | show 🗑
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| Importance to long-term success: | show 🗑
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| show | 49 %
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| Least successful companies:of _____% revenues from products developed in the last 5 years | show 🗑
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| show | Test Marketing
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| New Product Failure is Rampant: | show 🗑
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| Why New Products Fail | show 🗑
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| show | Diffusion
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| The stages through which an individual consumer passes in arriving at a decision to try (or not to try), to continue using (or discontinue using) a new product. | show 🗑
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| show | awareness, interest, evaluation, trial, and adoption
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| show | 1. Relative advantage.
2. complexity
3. compatibility
4. trialability.
5. observability
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| Tangible , and must be there for the product | show 🗑
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| show | Discontinues
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| a new category within something already existed. Like tablet--slightly different from laptop, and online education | show 🗑
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| show | Continues
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| You can buy it everywhere | show 🗑
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| show | shopping products
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| only one option | show 🗑
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| show | OK
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| show | Relative advantage
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| degree of difficulty to use/understand – the easier to use, the easier to adopt | show 🗑
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| show | Compatibility
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| degree to which product is capable of being tried on a limited basis; leads to product loyalty | show 🗑
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| product’s benefits, attributes can be seen by others, imagined, or described | show 🗑
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| D.R.E.K are | show 🗑
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| show | Brand Asset Valuation
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| show | equals zero
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| show | Growth stage
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| Decreasing in increasing rate is in | show 🗑
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| show | be popular for only 10 seconds
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| Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything | show 🗑
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| show | service businesses
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| Why do firms focus on Services? | show 🗑
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| Adding service aspects to a product often transforms the product from a commodity into a | show 🗑
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| You can't evaluate services, you can't sense it | show 🗑
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| show | Variability
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| you must be there to have the service, simultaneous | show 🗑
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| capacity restraint, and capacity cannot be stored for the future | show 🗑
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| perform promised service dependably and accurately, he can fix the problem | show 🗑
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| show | Responsiveness
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| show | Assurance
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| caring, individualized attention, treat customer like a person | show 🗑
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| show | Tangibles
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| show | a gap exists, can be positive or negative
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| show | OK
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| show | Gap 5: service gap
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| show | Gap 1: Knowledge gap
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| 4 P’s | show 🗑
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| show | 4 P’s + people, process+physical evidence
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| show | servicescape
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| show | core and augmented
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| Physical changes down to you, like transportation services, health clubs | show 🗑
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| performances services to the thing I own, like lawn or car repairs | show 🗑
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| seat inside the door to see people perform, you are just experiencing it, like watching movie | show 🗑
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| show | Information processing
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| Promotion Strategy | show 🗑
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| show | The benefit concept
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| show | Economic value progresses from commodities to goods to services to experience
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| show | Facilitating Promises
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| show | Making Promises
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| show | Keeping Promises
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| show | Marketing Channel
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| show | Distribution
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| The element that you cannot control in the market, like size of market, Geographic location | show 🗑
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| show | product factors
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| Number of product lines, Producer resources | show 🗑
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| show | market factors, product factors, producer factors
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| Your products can buy everywhere | show 🗑
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| Your products can buy multiple options, not everywhere, for shopping products | show 🗑
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| only one option, for expensive, high-quality products purchased infrequently | show 🗑
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| Advertising and promotional strategies geared toward your distribution partners to encourage them to promote your product | show 🗑
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| show | intensive distribution, selective distribution, exclusive distribution
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| show | Pull Strategy
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| show | B2B
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| Pull Strategy is for | show 🗑
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| show | Retailing
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| Connected customers can shop for/purchase the same items across different channels | show 🗑
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| show | Door-to-Door, Office-to-Office, Home Sales
Parties
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| Types of Direct Marketing: | show 🗑
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| show | Customer service, Atmosphere
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| show | Crowding (+/-), temperature, safety, spacing, image, parking
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| show | Music liked by consumers increases perceived waiting duration
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| show | Cool color (blue/green) store décor generally seen as more pleasant, Warm color décor (red/yellow) is rushed/hurried/busy
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| show | When scents are congruent with product class, consumers spend more time on processing product information
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| layout, design, textures, senses | show 🗑
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| pleasure/displeasure/heightened senses | show 🗑
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| show | Behavior
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| Attributes of Strong Brands | show 🗑
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| show | brand extensions, price premium
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| show | Building Brands
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| show | highest emotional connection, and increases the most difficult to copy
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| In building strong brands, attribute has | show 🗑
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