Brainscape's Knowledge GenomeTM

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


See full index

Business > Chapter 11 > Flashcards

Chapter 11 Flashcards

1
Q

marketing

A

activity, set of institutions, and processes for creating, communicating, delivering, and enhancing offerings that have value for customers, clients, partners, and society at large

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

value

A

relative cmoparision of a product’s benefits versus its costs

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

utility

A

ability of a product to satisfy a human want or need

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

consumer goods

A

physical products purchsed by consumers for personal use

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

industrial goods

A

physical products purchased by companies to produce other products

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

services

A

products having nonphysical fetures, such as informaiotn, expertise, or an activity that can be purchased

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

relationship marketing

A

marketing strategy that empshasizes lasting relationships with customers and suppliers

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

substitute product

A

product that is dissimilar from those of cmopetitors but that can fulfill the same need

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

brand competition

A

competitive marketing that appeals to consumer perceptions of benefits of products offered by particular companies

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

international competition

A

competitive marketing of domestic products against foreign products

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

marketing manager

A

manager who plans and implements the marketing activiites that result in the transfer of products from producer to consumer

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

marketing plan

A

detailed strategy for focusing marketing efforts on consumer’s needs and wants

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

marketing mix

A

combination of product, pricing, promotion, and distibution strategies used to market products

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

product

A

good, service, or idea that is marketed to fill consumers’ needs and wants

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

product differentiation

A

creating of product feature or product image that differs enough from existing products to attract customers

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

pricing

A

process of determining the best price at which to sell a product

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

distribution (place)

A

part of the markeitng mix concerned with getting products from producers to consumers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

promotion

A

aspect of the marketing mix concerned with the most effective techniquies for communicating informaiton about products

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

integrated marketing strategy

A

strategy that ble4nds together the four Ps of marketing to ensure their compatability with one another and with the company’s non-marketing activities as well

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

target market

A

group of people that have similar wants and needs and can be expected to show interest in the sane products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

market segmentation

A

process of dividing a market into categories of customer types, or “segments”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

production positioning

A

process of fixing, adapting, and communicating the nature of a product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

geographical variablese

A

geographic units that may be considered in developing a segmentation strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

demographic variables

A

characteristics of populations that may be considered in developing a segmentation strategy

25
Q

psychographic variables

A

consumer characteristics, such as lifestyles, opinions, interests, and attitudes that may be considered in developing a segmentation strategy

26
Q

consumer behavior

A

study of the decision process by which people buy and consume products

27
Q

brand loyalty

A

pattern of regular consumer pruchasing based on satisfaction with a product’s performance

28
Q

rational motives

A

reasons for purchasing a product that are based on logical evaluation of product attributes

29
Q

emotional motives

A

reasons for purchasing a product that are based on nonobective factors

30
Q

industrial market

A

organizational market consisting of firms that buy goods that are either converted into products or used during production

31
Q

reseller market

A

organizational market consisting of intermediaries that buy and resell finished goods

32
Q

institutional market

A

organizational market consisting of such nongovernmental buyers of goods and services, as hospitals, churches, museums, and charitable organizations

33
Q

product features

A

tangible and intangible qualities that a company builds into its products

34
Q

vale package

A

product marketed as a bundle of value-added attributes, including reasonable cost

35
Q

convenience good / convenience service

A

inexpensive good or service purchased and consumed rapidly and regularly

36
Q

shopping good / shopping service

A

moderately expensive, infrequently purchased good or service

37
Q

specialty good / specialty service

A

expensive, rarely purchased good or service

38
Q

expense item

A

industrial product purchased and consumed rapidly and regularly for daily operations

39
Q

capital item

A

expensive, long-lasting, infrequently purchased industrial good, such as a building, or industrial service, such as building maintenance

40
Q

product mix

A

group of products that a firm makes available for sale

41
Q

product line

A

group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways

42
Q

speed to market

A

strategy of introducing new products to respond quickly to customer or market changes

43
Q

product life cycle (PLC)

A

series of stages in product’s commercial life

44
Q

branding

A

process of using symbols to communicate the qualities of a product made by a particular producer

45
Q

brand awareness

A

extent to which a brand name comes to mind when a consumer considers a particular category

46
Q

product placement

A

a promotional tactic for brand exposer in which characters in television, film, music, magazines, or video games use a real product with its brand visible to viewers

47
Q

buzz marketing

A

promotional method that relies on work of mouth to create buzz about products and ideas

48
Q

viral marketing

A

type of buzz marketing that relies on the internet to spread information like a “virus” from person to person about products and ideas

49
Q

corporate blogs

A

comments and opinions published on the web by or for an organization to promote its activities

50
Q

national brand

A

brand-name products produced by, widely distributed by, and carrying the name of a manufacturer

51
Q

licensed brand

A

brand-name product for whose name the seller has purchased the right from an organization or individual

52
Q

private brand (private label)

A

brand-name product that a wholesaler or retailer has commission from a manufacturer

53
Q

packaging

A

physical container in which a product is sold, advertised, or protected

54
Q

secondary data

A

data readily available as a result of previous research

55
Q

primary data

A

data developed through new research

56
Q

observation

A

market research technique that involves watching and recording consumer behavior

57
Q

survey

A

market research technique using a questionnaire that is either mailed to individuals or used as the basis of telephone or personal interviews

58
Q

focus group

A

market research technique in which a group of people is gathered, presented with an issue, and asked to discuss it in depth

59
Q

experimentation

A

market research technique that attempts to compare the responses of the same or similar people under different circumstances

Business (17 decks)

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