Exam #2 Flashcards Preview

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Flashcards in Exam #2 Deck (61):
1

made to look like the content around it

Native Advertising

2

company pushing sales compensation too hard leading to opening fake accounts to meet demanding targets

wells fargo

3

name for a specific product by a specific company

brand name

4

low involvement product that consumers afford little attention to when purchasing

convenience product

5

Name 3 promotion objectives

1. create awareness
2. stimulate demand
3. encourage product trial
4. identify prospects
5. retain loyal customers
6. facilitate reseller support
7. combat competitive promotional efforts
8. reduce sale fluctuations

6

USP

unique selling proposition

7

differentiating factor for a brand (positioning statement)

USP

8

promotion given from a manufacturer to a reseller to facilitate sale of manufacturers product (trade allowance, cooperative ads, push money)

trade promotion

9

FPLA

fair packaging and labeling act

10

two brands partnering together, such as breyers ice cream with oreos

cobranding

11

Types of pitches

1. one word pitch
2. question pitch
3. subject line pitch
4. twitter pitch
5. pixar pitch

12

selling the rights for another company to use your brand name

licensing

13

Big 4 media platforms

1. TV
2. radio
3. print
4. social media

14

Promotion mix components

1. advertising
2. sales promotion
3. public relations
4. personal selling

15

Sales process

1. prospecting
2. pre-approach
3. approach
4. making the presentation
5. overcoming objectives
6. closing sale
7. follow up

16

branding a product by itself vs. branding a product with a parent company's name

individual vs. family branding

17

Stages of the product adoption curve

1. innovators
2. early adopters
3. early majority
4. late majority
5. laggards

18

money set aside for an advertising campaign

advertising appropriation

19

four forms that a product can take

product
service
idea
person

20

product life cycle

introduction
growth
maturity
decline represent

21

text of an advertisement

ad copy

22

push vs pull

-pushing the consumer where easily accessible (Costco)
-pulling consumer to product using advertising (consumer initiates)

23

KPI

key performance indicator

24

WOM

word of mouth

25

PR

public relations

26

IMC

integrated marketing communications

27

Low involvement

-unsought products
convenience products (low $)

28

medium involvement

shopping

29

high involvement

specialty

30

Product line vs product mix

category(shoes) vs all categories (shoes & clothes)

31

# of products

width

32

# of products in line

depth

33

brand extension vs line extension

new product vs same category new products

34

legal protection of brand names/ concepts

trademarks

35

allow someone else to use name and making money off it

licensing

36

Product modifications

1. quality
2. function
3. aesthetics

37

FPLA package requirements

1. identity statement
2. net weight
3. ingredients
4. company name and address

38

placing products in movies for advertising

product placement

39

guerilla marketing

word of mouth

40

buzz marketing

around an event

41

viral

online focused

42

appropriation strategies

1. objective and task method
2. percent of sales
3. competition matching
4. arbitrary approach

43

mass marketed, paid promotion

advertising

44

coupons

sales promotion

45

who's selling

personal selling

46

product
service
people
idea

product

47

Discount offered by producers or marketers to distribution channel members (distributors, wholesalers, retailers)

trade allowance

48

sharing of costs for locally placed advertising between a retailer or wholesaler and a manufacturer

cooperative advertising
ex. print ads, radio ads

49

commission paid (as by a manufacturer) to a sales person to push the sale of a particular item or line of merchandise

push money
ex. bonus

50

plan of a commercial or advertisement before it goes into production

storyboard

51

1. identify
2. define
3. create platform
4. determine
5. develop
6. create message
7. execute
8. evaluate

steps developing ad campaign

52

product adoption process

1. awareness
2. intrest
3. evaluation
4. trial
5. adoption

53

the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself

brand equity

54

company focuses on growing and retaining existing customers through incentives

loyalty

55

consumers' ability to recognize a firm from its distinctive logo, motto, or artistic symbol

recognition/ awareness

56

short and striking or memorable phrase

slogan

57

a symbol or other design adopted by an organization to identify its products, uniform, vehicles, etc.

logo

58

unaware or are not that interested in actively pursuing for purchase

unsought

59

A measure of the number of people who express knowledge of a brand or product when prompted (brand recognition)

aided

60

A measure of the number of people who express knowledge of a brand or product without prompting (brand recall)

unaided

61

product differentiation

1. quality
2. design
3. customer support
4. price