Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Marketing > FINAL REVIEW > Flashcards

FINAL REVIEW Flashcards

1
Q

Marketing

A

Developing, promoting, and distributing goods/services to satisfy customers’ needs and wants

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Demographics

A

Statistics that describe a population in terms of personal characteristics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

B2B Marketing

A

A commerce transaction between businesses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Channel of Distribution

A

Path along which goods move from producers or manufacturers to consumers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

ROMI (Return on Marketing Investment)

A

Measurement used to evaluate a company’s marketing investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Psychographics

A

Study of personality, values, opinions, attitudes, interests, and lifestyles

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Marketing Plan

A

Written document that directs a company’s spending and marketing activities for a specific period of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Demand

A

The amount of any given good/service that people are ready and able to buy at a given price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

B2C Marketing

A

Business that sells products or provides services to end-user customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Behavioristic

A

Based on actual customer behavior toward products (consumption behavior)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Market Segmentation

A

Process that divides a broad market into smaller subsets of customers with similar needs and wants

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Break-Even Point

A

Sales revenue equals the costs and expenses of making and distributing a product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Product Mix

A

Assortment of goods and services a company sells

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Geographics

A

Dividing your market into geographical areas and features

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Supply

A

The amount of any given good/service available for sale at any given time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Wholesaler

A

A step in channel distribution management where the product is bought in bulk

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Transportation Methods

A 
Rail Transport
*highest cost to set up, cheap to transport*
Road Transport  *most common*
Water Transport
*Slowest form*
Air Transport
Pipleines
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Primary Research

A

The research is done by the company itself

questionnaires, focus groups, mystery shopping

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Secondary Research

A

Research conducted by someone else but is used by the company

20
Q

Market Research

A

Gathering info about customers’ needs and preferences

21
Q

Public Relations

A

Using the news or business press to carry positive stories about your company or products

22
Q

Market Share

A

Percentage of the total sales volume generated by all companies in a market

23
Q

Press Release

A

A public relations announcement issued to the news media and other targeted publications for the purpose of letting the public know of company developments

24
Q

Target Marketing

A

Focusing all marketing decisions on a very specific group of people who your company wants to reach

25
Q

Intermediaries

A

Business or person who acts as a link between parties to a BUSINESS deal

26
Q

Sales Channel

A

A way in which a company supplies is product or services to customers

27
Q

Market

A

All people who share similar needs and wants, and can purchase your products

28
Q

Objections

A

Concerns, hesitations, doubts, honest reasons for not making a purchase

29
Q

Distribution

A

Process of deciding how to get goods into consumers hands

30
Q

Target Marketing

A

Understanding concepts and strategies used to develop and target speciific marketing strategies to a select audience

31
Q

Marketing Information Management

A

Gathering storing, analyzing info, customers, trends, and competing products

32
Q

Pricing

A

determine how much to charge in order to make a profit

33
Q

Promotion

A

The effort to inform, persuade and remind current and potential customers about a business’ products/ services

34
Q

Selling

A

Responding to consumer needs and wants through planned personalized communication in order to influence decisions

35
Q

Product Management

A

Obtaining developing maintaining improving a product or a product mix in response to market opportunities

36
Q

Marketing Mix

A

Price
Place
Promotion
Product

37
Q

Product Life Cycle

A 
Development
Introduction
Growth
Maturity
Decline
38
Q

Promotional Mix

A

Advertising
Publicity (Public Relations)
Sales Promotion
Personal Selling

39
Q

Exclusive Distribution

A

An agreement is made to allow a single channel (store, website, retailer, etc.) to be the only carrier of a specific product or product line or brand

40
Q

Selective Distribution

A

A company restricts distribution to only a certain type of channel, such as luxury, convenience, or big bog

41
Q

Intensive Distribution

A

A company sells through as many channels as possible so consumers encounter the product wherever they are

42
Q

Sales Process

A 
Approaching the Customer
Determining Needs
Presenting the Product
Overcoming Objections
Closing the Sale
Suggestion Selling
Relationship Marketing
43
Q

Command Economy

A

Government manages the distribution and availability of products and services (having to buy everything through government stores)

44
Q

Traditional Economy

A

An economy based on what they find around them, traditions, beliefs, and customs (Tribal, aboriginal, nomadic)

45
Q

Market Economy

A

An economy based on the demand of the market; you produce exactly what you think is needed. What is purchased is what is needed. It is purely capitalistic; no limits on what you do, but you will be limited by the market

46
Q

Mixed Economy

A

An economic system that merges command and market economies. Economy is built around market demand, but government may become involved to restrict or encourage the distribution of particular goods and services; limits potential for monopolies

Marketing (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions