marketing final
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| Market segmentation | show 🗑
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| Bases for Segmenting Consumer Markets (4) | show 🗑
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| Geographic segmentation | show 🗑
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| show | divides the market into groups based on variables such
as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality
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| show | divides buyers into different groups based on social class, lifestyle, or personality traits
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| show | divides buyers into groups based on their knowledge, attitudes,
uses, or responses to a product
• Occasion• Benefits sought• User status• Usage rate• Loyalty status
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| Measurable | show 🗑
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| show | refers to the fact that the market can be effectively reached and served
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| Sustainable | show 🗑
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| show | refers to the fact that effective programs can be designed for attracting and serving segments
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| Undifferentiated | show 🗑
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| show | targets several different market segments and designs separate offers for each • Goal is to achieve higher sales and stronger position • More expensive than undifferentiated marketing
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| Micromarketing | show 🗑
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| show | targets a small share of a large market• Limited company resources•Knowledge of the market • More effective and efficient
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| show | targets a small share of a large market• Limited company resources Knowledge of the market • More effective and efficient is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want
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| Consumer products | show 🗑
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| show | are consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effortn• Newspapers• Candy • Fast food
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| Shopping products | show 🗑
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| Specialty products | show 🗑
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| show | are the benefits of the product or service
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| show | is the name, term, sign, or design, or a combination of these, that identifies the maker or seller of a product or service
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| show | involves designing and producing the container or wrapper for a product
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| show | identifies the product or brand, describes attributes, and provides promotion
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| New Product Development o Includes 8 stages | show 🗑
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| • Product Life cycle | show 🗑
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| show | • Product development
• Introduction
• Growth
• Maturity
• Decline
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| show | is the amount of money charged for a product or service. It is the sum of all the
Values that consumers give up in order to gain the benefits of having or using a product or service. is the only element in the marketing mix that produces revenue; al
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| show | involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for its effort and risK
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| Value-based pricing | show 🗑
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| Market-Skimming pricing | show 🗑
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| Market-Penetration pricing | show 🗑
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| show | takes into account the cost differences between products in the
line, customer evaluation of their features, and competitors’ prices – ex: GAP Inc.
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| Optional-Product pricing | show 🗑
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| Captive-Product pricing | show 🗑
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| show | reduces prices to buyers who buy large volumes
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| Seasonal discount | show 🗑
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| show | reduces prices to buyers who based on month, day, even hour.
Ex: Movie theaters – matinee pricing Cell phones
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| Promotional pricing | show 🗑
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| Consumer Promotion | show 🗑
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| show | offer a trial amount of a product
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| Coupons | show 🗑
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| show | are similar to coupons except that the price reduction occurs after the purchase
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| Contests, Sweepstakes, Games | show 🗑
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| Direct-Mail marketing | show 🗑
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| Catalog marketing | show 🗑
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| Telephone marketing | show 🗑
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| show | involves 60- to 120-second advertisements that describe products or give customers a toll-free number or Web site to purchase and 30-minute infomercials such as home shopping channels• Less expensive than other forms of promotion
• Easier to track resu
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| Kiosk marketing | show 🗑
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| Mobile phone marketing | show 🗑
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| Podcasts & Vodcasts | show 🗑
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| show | lets viewers interact with television programming and advertising using their remote controls and provides marketers with an interactive and involving means to reach targeted audiences
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| show | involves selling goods and services, providing information online to businesses, and building customer relationships 8
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| show | involves selling goods and services online to final consumers
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| show | involves consumers communicating with companies
to send suggestions and questions via company Web sites
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| Consumer-to-Consumer (C2C) | show 🗑
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| Click-only marketers | show 🗑
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| Click and mortar companies | show 🗑
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| Promotional Mix | show 🗑
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| Advertising | show 🗑
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| Personal Selling | show 🗑
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| Sales Promotion | show 🗑
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| show | involves building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events
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| show | involves making direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships—by using direct mail, telephone, direct-response television, e-mail, and the Internet to comm
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| • 9 Steps in Communication Process | show 🗑
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| show | relates to the audience’s self-interest – ex: Pine Sol
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| show | is an attempt to stir up positive or negative emotions to motivate a purchase – ex: Alarms
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| show | is directed at the audience’s sense of right and proper – ex: AIDS
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| Advertising Objectives | show 🗑
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| Informative Advertising | show 🗑
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| show | is important with increased competition to build selective demand
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| Comparison Advertising | show 🗑
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| show | is important with mature products to help maintain customer relationships and keep customers thinking about the product
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| show | is a measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time
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| show | is a measure of how many times the average person in the target market is
exposed to the message
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| Distribution Channels | show 🗑
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| show | are people or organizations that help get products to the final consumer. They are sometimes called middle men.
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| Direct Marketing Channel | show 🗑
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| Indirect Marketing channel | show 🗑
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| show | is a strategy used by producers of convenience products and common raw materials in which they stock their products in as many outlets as possible
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| show | is a strategy in which the producer gives only a limited number of
dealers the exclusive right to distribute its products in their territories
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| show | is a strategy when a producer uses more than one but fewer
than all of the intermediaries willing to carry the producer’s products
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| show | (Marketing logistics)Involves planning, implementing, and
controlling the physical flow of goods, services, and related information from points
of origin to points of consumption to meet consumer requirements at a profit
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| Retailing | show 🗑
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| Specialty stores | show 🗑
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| show | carry a wide variety of product lines
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| show | carry a limited line of high-turnover convenience goods
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| Superstores | show 🗑
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| Discount stores | show 🗑
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| Direct marketing | show 🗑
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