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Marketing > Final > Flashcards

Final Flashcards

1
Q

impersonal, one-way mass communication about a product or organization that is paid for by a marketer

A

advertising`

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2
Q

a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action

A

AIDA concept

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3
Q

a medium of communication?such as a voice, radio, or newspaper?for transmitting a message

A

channel

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4
Q

the process by which we exchange or share meaning through a common set of symbols

A

communication

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5
Q

one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors

A

competitive advantage

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6
Q

interpretation of the language and symbols sent by the source through a channel

A

decoding

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7
Q

a category of promotional tactic based on a public relations or publicity model that gets customers talking about products or services

A

earned media

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8
Q

the conversion of a sender’s ideas and thoughts into a message, usually in the form of words or signs

A

encoding

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9
Q

the receiver’s response to a message

A

feedback

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10
Q

the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every contact point at which a company meets the consumer

A

integrated marketing communications (IMC)

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11
Q

direct, face-to-face communication between two or more people

A

interpersonal communication

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12
Q

the communication of a concept or message to large audiences

A

mass communication

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13
Q

anything that interferes with, distorts, or slows down the transmission of information

A

noise

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14
Q

a new category of promotional tactic based on brands becoming publishers of their own content in order to maximize the brands’ value to customers

A

owned media

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15
Q

a category of promotional tactic based on the traditional advertising model, whereby a brand pays for media space

A

paid media

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16
Q

a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other

A

personal selling

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17
Q

communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response

A

promotion

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18
Q

the combination of promotional tools?including advertising, public relations, personal selling, sales promotion, and social media?used to reach the target market and fulfill the organization’s overall goals

A

promotional mix

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19
Q

a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media

A

promotional strategy

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20
Q

the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance

A

public relations

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21
Q

public information about a company, product, service, or issue appearing in the mass media as a news item

A

publicity

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22
Q

a marketing strategy that stimulates consumer demand to obtain product distribution

A

pull strategy

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23
Q

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise

A

push strategy

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24
Q

the person who decodes a message

A

receiver

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25
Q

marketing activities?other than personal selling, advertising, and public relations?that stimulate consumer buying and dealer effectiveness

A

sales promotion

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26
Q

the originator of the message in the communication process

A

sender

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27
Q

placing advertising messages in Web-based or video games to advertise or promote a product, service, organization, or issue

A

advergaming

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28
Q

a reason for a person to buy a product

A

advertising appeal

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29
Q

a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals

A

advertising campaign

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30
Q

a specific communication task that a campaign should accomplish for a specified target audience during a specified period

A

advertising objective

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31
Q

a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns

A

advertising response function

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32
Q

a form of advertising in which an organization expresses its views on controversial issues or responds to media attacks

A

advocacy advertising

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33
Q

the ability of an advertising medium to reach a precisely defined market

A

audience selectivity

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34
Q

a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes

A

comparative advertising

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35
Q

a form of advertising designed to influence demand for a specific brand

A

competitive advertising

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36
Q

promotion activities targeted to the ultimate consumer market

A

consumer sales promotion

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37
Q

a media scheduling strategy in which advertising is run steadily throughout the advertising period; used for products in the later stages of the product life cycle

A

continuous media schedule

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38
Q

an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer’s brand

A

cooperative advertising

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39
Q

the cost associated with a consumer clicking on a display or banner ad

A

cost per click

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40
Q

the cost of reaching one member of the target market

A

cost per contact (cost per thousand or CPM)

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41
Q

a certificate that entitles consumers to an immediate price reduction when the product is purchased

A

coupon

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42
Q

a coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event

A

crisis management

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43
Q

a media scheduling strategy in which ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times

A

flighted media schedule

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44
Q

the number of times an individual is exposed to a given message during a specific period

A

frequency

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45
Q

a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service

A

frequent buyer program

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46
Q

a thirty-minute or longer advertisement that looks more like a television talk show than a sales pitch

A

infomercial

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47
Q

a form of advertising designed to enhance a company’s image rather than promote a particular product

A

institutional advertising

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48
Q

a promotional program designed to build long-term, mutually beneficial relationships between a company and its key customers

A

loyalty marketing program

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49
Q

the combination of media to be used for a promotional campaign

A

media mix

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50
Q

the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience

A

media planning

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51
Q

designation of the media, the specific publications or programs, and the insertion dates of advertising

A

media schedule

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52
Q

the channel used to convey a message to a target market

A

medium

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53
Q

a form of advertising designed to stimulate primary demand for a new product or product category

A

pioneering advertising

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54
Q

a promotional display set up at the retailer’s location to build traffic, advertise the product, or induce impulse buying

A

point of purchase (P-O-P) display

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55
Q

an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product

A

premium

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56
Q

a form of advertising that touts the benefits of a specific good or service

A

product advertising

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57
Q

a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the Internet; or at special events

A

product placement

58
Q

the element in the promotional mix that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance

A

public relations

59
Q

an effort to capture media attention, often initiated through press releases that further a corporation’s public relations plans

A

publicity

60
Q

a media scheduling strategy that uses continuous scheduling throughout the year coupled with a flighted schedule during the best sales periods

A

pulsing media schedule

61
Q

money offered to channel intermediaries to encourage them to ?push? products?that is, to encourage other members of the channel to sell the products

A

push money

62
Q

the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks

A

reach

63
Q

a cash refund given for the purchase of a product during a specific period

A

rebate

64
Q

the marketing communication activities, other than advertising, personal selling, and public relations, in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value

A

sales promotion

65
Q

a promotional program that allows the consumer the opportunity to try a product or service for free

A

sampling

66
Q

a media scheduling strategy that runs advertising only during times of the year when the product is most likely to be used

A

seasonal media schedule

67
Q

a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image

A

sponsorship

68
Q

a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers

A

trade allowance

69
Q

promotion activities directed to members of the marketing channel, such as wholesalers and retailers

A

trade sales promotion

70
Q

a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign

A

unique selling proposition

71
Q

developing product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships

A

campaign management

72
Q

a form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects’ needs or financial status

A

cold calling

73
Q

a philosophy under which the company customizes its product and service offering based on data generated through interactions between the customer and the company

A

customer-centric

74
Q

the final step of the selling process, in which the salesperson ensures delivery schedules are met, goods or services perform as promised, and the buyers’ employees are properly trained to use the products

A

follow-up

75
Q

the point at which a customer and a company representative exchange information and develop learning relationships

A

interaction

76
Q

the process by which customer information is centralized and shared in order to enhance the relationship between customers and the organization

A

knowledge management

77
Q

identification of those firms and people most likely to buy the seller’s offerings

A

lead generation (prospecting)

78
Q

determination of a sales prospect’s (1) recognized need, (2) buying power, and (3) receptivity and accessibility

A

lead qualification

79
Q

an informal process of collecting customer data through customer comments and feedback on product or service performance

A

learning

80
Q

a determination of the customer’s specific needs and wants and the range of options the customer has for satisfying them

A

needs assessment

81
Q

the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement

A

negotiation

82
Q

a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations

A

networking

83
Q

a touch point in stores or information kiosks that use software to enable customers to easily provide information about themselves without feeling violated

A

point-of-sale interactions

84
Q

a process that describes the ?homework? that must be done by a salesperson before he or she contacts a prospect

A

preapproach

85
Q

a statement of the salesperson’s sales goals, usually based on sales volume

A

quota

86
Q

a recommendation to a salesperson from a customer or business associate

A

referral

87
Q

a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships

A

relationship selling (consultative selling)

88
Q

a formal meeting in which the salesperson presents a sales proposal to a prospective buyer

A

sales presentation

89
Q

the set of steps a salesperson goes through in a particular organization to sell a particular product or service

A

sales process (sales cycle)

90
Q

a formal written document or professional presentation that outlines how the salesperson’s product or service will meet or exceed the prospect’s needs

A

sales proposal

91
Q

areas of a business where customers have contact with the company and data might be gathered

A

touch points

92
Q

the quantity of a product that will be sold in the market at various prices for a specified period

A

demand

93
Q

a situation in which consumer demand is sensitive to changes in price

A

elastic demand

94
Q

consumers’ responsiveness or sensitivity to changes in price

A

elasticity of demand

95
Q

a private electronic network that links a company with its suppliers and customers

A

extranet

96
Q

a cost that does not change as output is increased or decreased

A

fixed cost

97
Q

a situation in which an increase or a decrease in price will not significantly affect demand for the product

A

inelastic demand

98
Q

a company’s product sales as a percentage of total sales for that industry

A

market share

99
Q

charging a high price to help promote a high-quality image

A

prestige pricing

100
Q

that which is given up in an exchange to acquire a good or service

A

price

101
Q

revenue minus expenses

A

profit

102
Q

the price charged to customers multiplied by the number of units sold

A

revenue

103
Q

stocking well-known branded items at high prices in order to sell store brands at discounted prices

A

selling against the brand

104
Q

a pricing objective that maintains existing prices or meets the competition’s prices

A

status quo pricing

105
Q

the quantity of a product that will be offered to the market by a supplier at various prices for a specified period

A

supply

106
Q

a cost that varies with changes in the level of output

A

variable cost

107
Q

a technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by discounting early purchases, limiting early sales at these discounted prices, and overbooking capacity

A

yield management systems (YMS)

108
Q

a price tactic that tries to get consumers into a store through false or misleading price advertising and then uses high-pressure selling to persuade consumers to buy more expensive merchandise

A

bait pricing

109
Q

the general price level at which the company expects to sell the good or service

A

base price

110
Q

a price tactic that charges freight from a given (basing) point, regardless of the city from which the goods are shipped

A

basing-point pricing

111
Q

a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill

A

cash discount

112
Q

an extra fee paid by the consumer for violating the terms of the purchase agreement

A

consumer penalty

113
Q

a deduction from list price that applies to the buyer’s total purchases made during a specific period

A

cumulative quantity discount

114
Q

a price tactic in which different customers pay different prices for essentially the same merchandise bought in equal quantities

A

flexible pricing (variable pricing)

115
Q

a price tactic that requires the buyer to absorb the freight costs from the shipping point (?free on board?)

A

FOB origin pricing

116
Q

a price tactic in which the seller pays all or part of the actual freight charges and does not pass them on to the buyer

A

freight absorption pricing

117
Q

a discount to wholesalers and retailers for performing channel functions

A

functional discount (trade discount)

118
Q

costs that are shared in the manufacturing and marketing of several products in a product line

A

joint costs

119
Q

a price tactic in which a product is sold near or even below cost in the hope that shoppers will buy other items once they are in the store

A

leader pricing (loss-leader pricing)

120
Q

a deduction from list price that applies to a single order rather than to the total volume of orders placed during a certain period

A

noncumulative quantity discount

121
Q

a price tactic that uses odd-numbered prices to connote bargains and even-numbered prices to imply quality

A

odd?even pricing (psychological pricing)

122
Q

a pricing policy whereby a firm charges a relatively low price for a product initially as a way to reach the mass market

A

penetration pricing

123
Q

the practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market

A

predatory pricing

124
Q

marketing two or more products in a single package for a special price

A

price bundling

125
Q

an agreement between two or more firms on the price they will charge for a product

A

price fixing

126
Q

the practice of offering a product line with several items at specific price points

A

price lining

127
Q

a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion

A

price skimming

128
Q

a basic, long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle

A

price strategy

129
Q

setting prices for an entire line of products

A

product line pricing

130
Q

a payment to a dealer for promoting the manufacturer’s products

A

promotional allowance (trade allowance)

131
Q

a price reduction offered to buyers buying in multiple units or above a specified dollar amount

A

quantity discount

132
Q

a cash refund given for the purchase of a product during a specific period

A

rebate

133
Q

a price reduction for buying merchandise out of season

A

seasonal discount

134
Q

a price tactic that offers all goods and services at the same price (or perhaps two or three prices)

A

single-price tactic

135
Q

charging a price identical to or very close to the competition’s price

A

status quo pricing

136
Q

a price tactic that charges two separate amounts to consume a single good or service

A

two-part pricing

137
Q

reducing the bundle of services that comes with the basic product

A

unbundling

138
Q

laws that prohibit wholesalers and retailers from selling below cost

A

unfair trade practice acts

139
Q

a price tactic in which the seller pays the actual freight charges and bills every purchaser an identical, flat freight charge

A

uniform delivered pricing

140
Q

setting the price at a level that seems to the customer to be a good price compared to the prices of other options

A

value-based pricing

141
Q

a modification of uniform delivered pricing that divides the United States (or the total market) into segments or zones and charges a flat freight rate to all customers in a given zone

A

zone pricing

Marketing (4 decks)

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