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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| show | divides the market into different geographical units such
as nations, regions, states, counties, or cities
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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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| Behavioral segmentation | show 🗑
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| show | examples include the size, purchasing power, and profiles of the segments – degree to be measured.
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| Accessible | show 🗑
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| show | refers to the fact that the markets are large and profitable enough to serve
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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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| Product | show 🗑
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| show | is a form of product that consists of activities, benefits, or satisfactions offered sale that are essentially intangible and do not result in ownership• Doctor’s exam• Legal advice
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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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| • Product Attributes | show 🗑
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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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| • Packaging | show 🗑
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| • Effective Labeling | show 🗑
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| New Product Development o Includes 8 stages | show 🗑
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| • Product Life cycle | show 🗑
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| o Includes 5 stages | show 🗑
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| Price | show 🗑
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| Cost-based pricing | show 🗑
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| show | uses the buyers’ perceptions of value, not the seller’s cost, as
the key to pricing. Price is considered before the marketing program is set.
• Value-based pricing is customer driven• Cost-based pricing is product driven
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| show | is a strategy with high initial prices to “skim” revenue layers from the market• Product quality and image must support the price• Buyers must want the product at the price• Costs of producing the product in small volume should not cancel the advantage of
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| show | sets a low initial price in order to penetrate the market quickly and deeply to attract a large number of buyers quickly to gain market share
• Price sensitive market• Inverse relationship of production and distribution cost to sales growth
• Low prices
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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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| show | takes into account optional or accessory products along with the main product – ex: Buying a car
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| show | involves products that must be used along with the main product – ex: Gillette or Polaroid
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| show | reduces prices to buyers who buy large volumes
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| Seasonal discount | show 🗑
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| Timing pricing | show 🗑
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| Promotional pricing | show 🗑
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| show | is the short-term incentives to encourage purchases or sales of a product or service
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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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| show | involves using the telephone to sell directly to consumers and business customers• Outbound telephone marketing sells directly to consumers and businesses
• Inbound telephone marketing uses toll-free numbers to receive orders from television and print
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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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| show | involves placing information and ordering machines in stores, airports,
trade shows, and other locations
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| show | includes:
• Ring-tone giveaways• Mobile games• Ad-supported content• Contests and sweepstakes
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| show | involve the downloading of audio and video files via the Internet to a handheld device such as a PDA or iPod and listening to them at the consumer’s convenience
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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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| Business-to-Business (B2B | show 🗑
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| Business-to-Consumer (B2C) ) | show 🗑
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| Consumer-to-Business (C2B) | show 🗑
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| Consumer-to-Consumer (C2C) | show 🗑
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| Click-only marketers | show 🗑
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| show | are brick-and-mortar companies with an online presence
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| Promotional Mix | show 🗑
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| Advertising | show 🗑
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| show | is the personal presentation by the firm’s sales force for the purpose of
making sales and building customer relationships
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| show | is the short-term incentives to encourage the purchase or sale of a
product or service
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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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| Moral Appeals | show 🗑
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| show | is a specific communication task to be accomplished with a specific target audience during a specific time
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| show | is used when introducing a new product category; the objective is to build primary demand
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| Persuasive Advertising | show 🗑
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| Comparison Advertising | show 🗑
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| Reminder Advertising | show 🗑
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| Reach | show 🗑
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| Frequency | show 🗑
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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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| Exclusive Distribution | show 🗑
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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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| show | carry narrow product lines with deep assortments within the product lines
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| Department stores | show 🗑
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| Convenience stores | show 🗑
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| Superstores | show 🗑
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| Discount stores | show 🗑
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| show | selling your product directly to consumers
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