Marketing cards Flashcards
(39 cards)
What is the order cycle?
The sequence of processes involved in the ordering and delivery of products, from the initial order placement to final delivery and payment.
What is referral sampling?
A technique in market research where existing participants recommend or provide names of potential new participants, often used to reach specific or hard-to-reach populations.
What is specialty advertising?
Promotional techniques that use items or products (often with a company’s logo) to create brand awareness and loyalty, typically given as gifts to customers and prospects.
What is networking?
Creating and maintaining professional relationships for mutual benefit, often used in marketing and sales to expand reach and influence.
What is channel of distribution activity?
The various steps and processes that products go through from the manufacturer to the consumer, including wholesalers, retailers, and logistics.
What is product building?
The process of developing a new product or improving an existing one, focusing on its design, features, quality, and branding to meet consumer needs.
What is a coding survey?
The organization of survey responses into specific categories or codes to facilitate analysis and interpretation of data.
What are fixed expenses?
Regular, recurring costs that do not fluctuate with production or sales volume, such as rent, salaries, and insurance.
What are pricing strategies?
Methods used to determine the selling price of a product, including cost-plus pricing, competitive pricing, penetration pricing, skimming pricing, and value-based pricing.
What are synthetics?
Man-made materials or products created through chemical processes, as opposed to natural resources; often used in textiles, plastics, and other industrial applications.
What are types of consumers?
Categories of consumers based on various criteria such as demographics, behavior, or purchasing habits, such as impulse buyers, brand loyalists, budget-conscious shoppers, etc.
What does intrinsic mean?
Qualities or characteristics that are inherent to an object or individual, often relating to the inner value or motivation rather than external factors.
What does extrinsic mean?
Factors or values that come from the outside, such as external rewards, social validation, or environmental influences that drive behavior.
What is marketing research?
The process of gathering, analyzing, and interpreting information about a market, including insights into consumer preferences and market trends, to inform business decisions.
What is vertical staff?
A structure of staff organization where positions are aligned within a hierarchy, often related to specific functions or specialties in an organization.
What is fortitude?
The mental and emotional strength in facing adversity or challenges, particularly in a business context where resilience is crucial.
What are types of products?
Categorizing products based on characteristics such as durability (durable vs. non-durable), consumer types (consumer goods vs. industrial goods), or usage (convenience, shopping, specialty).
What are types of ownership?
Different forms of business ownership, including sole proprietorships, partnerships, corporations, and cooperatives, each with distinct legal and financial implications.
What are legal obligations?
Duties or responsibilities imposed by law that individuals or organizations are required to follow, including contracts, regulatory requirements, and compliance with employment laws.
What is Business Law?
The body of law that governs business and commercial transactions.
What is Channel Management?
The process of managing the distribution channels through which products or services flow.
What is Communications?
The act of conveying information and ideas between individuals or groups.
What is Customer Relations?
The management of interactions and relationships with customers.
What is Economics?
The study of how individuals and societies allocate scarce resources.
