MarketingManagementVocabulary

Question 1

Schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

Answer 1

Institutional market

Question 2

Direct marketing campaigns that use multiple vehicles and multiple stages to improve response rates and profits.

Answer 2

Integrated direct marketing

Question 3

A physical distribution concept that recognizes the need for a firm to integrate its logistics system with those of its suppliers and customers. The aim is to maximize the performance of the entire distribution system.

Answer 3

Integrated logistics management

Question 4

The concept under which a company carefully integrates and co-ordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization arid its products.

Answer 4

Integrated marketing communications

Question 5

Stocking the product in as many outlets as possible.

Answer 5

Intensive distribution

Question 6

Marketing by a service firm that recognizes that perceived service quality depends heavily on the quality of buyer-seller interaction.

Answer 6

Interactive marketing

Question 7

Distribution channel firms that help the company find customers or make sales to them, including wholesalers and retailers that buy and resell goods.

Answer 7

Intermediaries

Question 8

An evaluation of the firm’s entire value chain.

Answer 8

Internal audit

Question 9

Marketing by a service firm to train and effectively motivate its customer-con tact employees and all the supporting service people to work as a team to provide customer satisfaction.

Answer 9

Internal marketing

Question 10

Information gathered from sources within the company to evaluate marketing performances and to detect marketing problems and opportunities.

Answer 10

Internal records information

Question 11

A form of international marketing organization in which the division handles all of the firm’s international activities. Marketing, manufacturing, research, planning and specialist staff are organized into operating units according to geography or product groups, or as an international subsidiary responsible for its own sales and profitability.

Answer 11

International division

Question 12

Buyers in other countries, including consumers, producers, resellers and governments.

Answer 12

International market

Question 13

A vast global computer network that enables computers, with the right software and a modem (a telecommunications device that sends data across telephone lines), to be linked together so that their users can obtain or share information and interact with other users.

Answer 13

Internet (the Net)

Question 14

The product life- cycle stage when the new product is first distributed and made available for purchase.

Answer 14

Introduction stage

Question 15

A new technology or product that may or may not deliver benefits to customers.

Answer 15

Invention

Question 16

A joint venture in which a company joins investors in a foreign market to create a local business in which the company shares joint ownership and control.

Answer 16

Joint ownership

Question 17

Entering foreign markets by joining with foreign companies to produce or market a product or service.

Answer 17

Joint venturing

Question 18

Managers whose primary responsibility is to orchestrate the company’s relationship with a major customer or prospective customer in order to achieve lasting and mutually beneficial exchange between the two parties.

Answer 18

Key account managers

Question 19

Time series that change in the same direction but in advance of company sales.

Answer 19

Leading indicators

Question 20

Changes in an individual’s behavior arising from experience.

Answer 20

Learning

Question 21

A product or service using a brand name offered by the brand owner to the licensee for an agreed fee or royalty.

Answer 21

Licensed brand

Question 22

A method of entering a foreign market in which the company enters into an agreement with a licensee in the foreign market, offering the right to use a manufacturing process, trademark, patent, trade secret or other item of value for a fee or royalty

Answer 22

Licensing

Question 23

Offering products or marketing approaches that recognize the consumer’s changing needs at different stages of their life.

Answer 23

Life-cycle segmentation

Question 24

A person’s pattern of living as expressed in his or her activities, interests and opinions.

Answer 24

Lifestyle

Question 25

Retailers that provide only a limited number of services to shoppers.

Answer 25

Limited-service retailers

Question 26

Those who offer only limited services to their suppliers and customers.

Answer 26

Limited-service wholesalers

Question 27

Using a successful brand name lo introduce additional items in a given product category under the same brand name, such as new flavors, forms, colors, added ingredients or package sizes.

Answer 27

Line extension

Question 28

A plan that describes the principal factors and forces affecting the organization during the next several years, including long-term objectives, the chief marketing strategies used to attain them and the resources required.

Answer 28

Long-range plan

Question 29

The firmer societal forces that affect the whole micro environment - demographic, economic, natural, technological, political and cultural forces.

Answer 29

Macro environment

Question 30

A joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the capital; the domestic firm exports management services rather than products.

Answer 30

Management contracting

Question 31

A brand created and owned by the producer of a product or service.

Answer 31

Manufacturer’s brand (national brand)

Question 32

The set of all actual and potential buyers of a product or service.

Answer 32

Market

Question 33

A method used mainly by business products firms to estimate the market potential of a city, region or country based on determining all the potential buyers in the market and estimating their potential purchases.

Answer 33

Market-build-up method

Question 34

A company that pays balanced attention to both customers and competitors in designing its marketing strategies.

Answer 34

Market-centered company

Question 35

A runner-up firm in an industry that is lighting hard to increase its market share.

Answer 35

Market challenger

Question 36

A strategy for company growth by identifying and developing new segments and markets for current company products.

Answer 36

Market development

Question 37

A method used mainly by consumer products firms to estimate the market potential for consumer products.

Answer 37

Market-factor index method

Question 38

A runner-up firm in an industry that wants to hold its share without rocking the boat.

Answer 38

Market follower

Question 39

The firm in an industry wit h the largest market share; it usually leads other firms in price changes, new product introductions, distribution coverage and promotion spending.

Answer 39

Market leader

Question 40

A firm in an industry that serves small segments that the other firms overlook or ignore.

Answer 40

Market nicher

Question 41

A strategy for increasing sales of current products to current market segments. This is achieved by winning over competitors’ customers, acquiring a competitor and/or increasing product usage rate.

Answer 41

Market penetration

Question 42

Setting a low price for a new product in order to attract large numbers of buyers and a large market share.

Answer 42

Market-penetration pricing

Question 43

Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers - Formulating competitive positioning for a product and a detailed marketing mix.

Answer 43

Market positioning

Question 44

A group of consumers who respond in a similar way to a given set of marketing stimuli.

Answer 44

Market segment

Question 45

Dividing a market into distinct groups of buyers with different needs, characteristics or behavior, who might require separate products or marketing raises.

Answer 45

Market segmentation

Question 46

Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales.

Answer 46

Market Skimming pricing

Question 47

The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

Answer 47

Market targeting

Question 48

A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

Answer 48

Marketing

Question 49

A comprehensive, systematic, independent and periodic examination of a company’s environment, objectives, strategies and activities to determine problem areas and opportunities, and to recommend a plan of action to improve the company’s marketing performance.

Answer 49

Marketing audit

Question 50

A section of the marketing plan that shows projected revenues, costs and profits.

Answer 50

Marketing budget

Question 51

The marketing management philosophy which holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.

Answer 51

Marketing concept

Question 52

The process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that marketing objectives are attained.

Answer 52

Marketing control

Question 53

An organized set of data about individual customers or prospects that can be used to generate and qualify customer leads, sell products and services, and maintain customer relationships.

Answer 53

Marketing database

Question 54

The actors and forces outside marketing that affect marketing management’s ability to develop and maintain successful transactions with its target customers.

Answer 54

Marketing environment

Question 55

The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.

Answer 55

Marketing implementation

Question 56

People, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers.

Answer 56

Marketing information system (MIS)

Question 57

Everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans.

Answer 57

Marketing intelligence

Question 58

Firms that help the company to promote, sell and distribute its goods to final buyers; they include physical distribution firms, marketing-service agencies and financial intermediaries.

Answer 58

Marketing intermediaries

Question 59

The analysis, planning, implementation and control of programs designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.

Answer 59

Marketing management

Question 60

The set of controllable tactical marketing tools - product, price, place and promotion - that the firm blends to produce the response it wants in the target market.

Answer 60

Marketing mix

Question 61

The process of (1) analyzing marketing opportunities; (2) selecting target markets; (3) developing the marketing mix; and (4) managing the marketing effort.

Answer 61

Marketing process

Question 62

The function that links the consumer, customer and public to the marketer through information - information used to identify and define marketing opportunities and problems; to generate, refine and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process.

Answer 62

Marketing research

Question 63

Marketing research firms, advertising agencies, media firms, marketing consulting firms and other service providers that help a company to target and promote its products to the right markets.

Answer 63

Marketing services agencies

Question 64

The marketing logic by which the business unit hopes to achieve its marketing objectives.

Answer 64

Marketing strategy

Question 65

A statement of the planned strategy for a new product that outlines the intended target market , the planned product positioning, and the sales, market share and profit goals for the first few years.

Answer 65

Marketing strategy statement

Question 66

A site on the Web created by a company to interact with consumers for die purpose of moving them closer to a purchase or other marketing outcome. The site is designed to handle interactive communication initiated by the company

Answer 66

Marketing Web site

Question 67

The difference between selling price and cost as a percentage of selling price or cost.

Answer 67

Mark- up, mark -down

Question 68

Preparing individually designed products and communication on a large scale.

Answer 68

Mass customization

Question 69

Using almost the same product, promotion and distribution for all consumers.

Answer 69

Mass marketing

Question 70

Industrial products that enter the manufacturer’s product completely; including raw materials and manufactured materials and parts.

Answer 70

Materials and parts

Question 71

The stage in the product life cycle where sales growth slows or levels off.

Answer 71

Maturity stage

Question 72

The degree to which the size, purchasing power and profits of a market segment can be measured.

Answer 72

Measurability

Question 73

Non-personal communications channels including print media (newspapers, magazines, direct mail); broadcast media (radio, television); and display media (billboards, signs, posters).

Answer 73

Media

Question 74

The qualitative value of an exposure through a given medium.

Answer 74

Media impact

Question 75

Specific media within each general media type, such as specific magazines, television shows or radio programs.

Answer 75

Media vehicles

Question 76

Groups that have a direct influence on a person’s behavior and to which a person belongs.

Answer 76

Membership groups

Question 77

Independently owned businesses that take title to the merchandise they handle.

Answer 77

Merchant wholesalers

Question 78

The company, the brand name, the salesperson of the brand, or the actor in the ad who endorses the product.

Answer 78

Message source

Question 79

The forces close to the company that affect its ability to serve its customers - the company, market channel firms, customer markets, competitors and publics.

Answer 79

Micro environment

Question 80

A form of target marketing in which companies tailor their marketing programs to the needs and wants of narrowly defined geographic, demographic, psychographic or behavioral segments.

Answer 80

Micromarketing.

Question 81

A statement of the organization’s purpose what it wants to accomplish in the wider environment

Answer 81

Mission statement

Question 82

A business buying situation in which tile buyer wants to modify product specifications, prices, terms or suppliers.

Answer 82

Modified rebuy

Question 83

A marketing transaction in which goods or services are exchanged for money.

Answer 83

Monetary transaction

Question 84

A market in which many buyers and sellers trade over a range of prices rather than a single market price.

Answer 84

Monopolistic competition

Question 85

Message appeals that are directed to the audience’s sense of what is right and proper.

Answer 85

Moral appeals

Question 86

A need that is sufficiently pressing to direct the person to seek satisfaction of the need.

Answer 86

Motive drive

Question 87

A strategy under which a seller develops two or more brands in the same product category.

Answer 87

Multi-brand strategy

Question 88

Adopting a strategy of having several independent offerings that appeal to several different sub segments of customer.

Answer 88

Multiple niching

Question 89

Natural resources that are needed as inputs by marketers or that are affected by marketing activities.

Answer 89

Natural environment

Question 90

The first stage of the buyer decision process in which the consumer recognizes a problem or need.

Answer 90

Need recognition

Question 91

The difference between the income from goods sold and all expenses incurred.

Answer 91

Net profit

Question 92

A good, service or idea that is perceived by some potential customers as new.

Answer 92

New product

Question 93

The development of original products, product improvements, product modifications and new brands through the firm’s own R & D efforts.

Answer 93

New-product development

Question 94

A business buying situation in which the buyer purchases a product or service for the first time.

Answer 94

New task

Question 95

Adapting a company’s offerings to more closely match the needs of one or more sub segments where there is often little competition.

Answer 95

Niche marketing

Question 96

A consumer product that is normally consumed in one or a few uses.

Answer 96

Non-durable product

Question 97

Media that carry messages without personal contact or feedback, including media, atmospheres and events.

Answer 97

Non-personal communication channels

Question 98

Non-monetary barriers to foreign products, such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features.

Answer 98

Non-tariff trade barriers

Question 99

Developing the promotion budget by (1) defining specific objectives; (2) determining the tasks that must be performed to achieve these objectives; and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.

Answer 99

Objective-and-task method

Question 100

The gathering of primary data by observing relevant people, actions and situations.

Answer 100

Observational research

Question 101

Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Answer 101

Occasion segmentation

Question 102

A market in which there are a few sellers that are highly sensitive to each other’s pricing and marketing strategies.

Answer 102

Oligopolistic competition

Question 103

Placing advertisements on the Internet in special sections offered by commercial online services, as banner ads that pop up while computer subscribers are surfing online services or Web sites, or in Internet news groups that have been set up for commercial purposes.

Answer 103

Online advertising

Question 104

A form of direct marketing conducted through interactive on-tine computer services, which provide 1 two-way systems that link consumers with sellers electronically.

Answer 104

Online marketing

Question 105

Questions that allow respondents to answer in their own words.

Answer 105

Open-end questions

Question 106

Checking on-going performance against annual plans and taking corrective action.

Answer 106

Operating control

Question 107

The degree to which a market segment can be reached and served.

Answer 107

Accessibility

Question 108

The degree to which effective programs can be designed for attracting and serving a given market segment.

Answer 108

Action ability

Question 109

A product’s parts, quality level, features, design, brand name, packaging and other attributes that combine to deliver core product benefits.

Answer 109

Actual product

Question 110

An international marketing strategy for adjusting the marketing-mix elements to each international target market, hearing more casts but hoping for a larger market share and return

Answer 110

Adapted marketing mix

Question 111

A vertical marketing system that coordinates successive stages of production and distribution , not through common ownership or contractual lies, but through the size and power of one of the parties.

Answer 111

Administered VMS

Question 112

The decision by an individual to become a regular user of the product

Answer 112

Adoption

Question 113

The mental process through which an individual passes from first hearing about an innovation to final adoption.

Answer 113

Adoption process

Question 114

Any paid form of non personal presentation and promotion of ideas, goods or services by an identified sponsor

Answer 114

Advertising

Question 115

A specific communication task to be accomplished with a specific target audience during a specific period of time

Answer 115

Advertising objective

Question 116

Useful articles imprinted with an advertiser’s name, given as gifts to consumers

Answer 116

Advertising specialties

Question 117

Setting the promotion budget at the level management thinks the company can afford

Answer 117

Affordable method

Question 118

Dividing a market into different age and life-cycle groups.

Answer 118

Age and life-cycle segmentation

Question 119

A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take tide to goods.

Answer 119

Agent

Question 120

(1) Reduction in price on damaged goods or (2) promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer’s product in some way.

Answer 120

Allowance

Question 121

The stage of the buyer decision process in which the consumer uses information lo evaluate alternative brands in the choice set.

Answer 121

Alternative evaluation

Question 122

A short-term plan that describes the company’s current situation, its objectives, the strategy, action program and budgets for the year ahead and controls

Answer 122

Annual plan

Question 123

The step in the selling process in which the salesperson meets and greets the buyer to get the relationship off to a good start.

Answer 123

Approach

Question 124

Designed environments that create or reinforce the buyer’s leanings towards consumption of a product.

Answer 124

Atmospheres

Question 125

A person’s consistently favorable or unfavorable evaluations, feelings and tendencies towards an object or idea.

Answer 125

Attitude

Question 126

Additional consumer services and benefits built around the core and actual products.

Answer 126

Augmented product

Question 127

The set of consumers who have interest, income and access to a particular product or service.

Answer 127

Available market

Question 128

A financial statement that shows assets, liabilities and worth of a company at a given time.

Answer 128

Balance sheet

Question 129

A marketing transaction in which goods or services are traded for other goods or services.

Answer 129

Barter transaction

Question 130

A geographic pricing strategy in which the seller designates some city as a basing point and charges all customers the freight cost from that city to the customer location, regardless of the city from which the goods are actually shipped.

Answer 130

Basing-point pricing

Question 131

Dividing n market into groups based on consumer knowledge, attitude, use or response to a product.

Answer 131

Behavioral segmentation

Question 132

A descriptive thought that a person holds about something

Answer 132

Belief

Question 133

The process of comparing the company’s products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance.

Answer 133

Bench marking

Question 134

Dividing the market into groups according to the different benefit that consumers sock from the product

Answer 134

Benefit segmentation

Question 135

A name, term, sign, symbol or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

Answer 135

Brand

Question 136

The value of a brand, based on the extent to which it has high brand loyalty, name awareness, perceived quality, strong brand associations, and other assets such as patents, trademarks and channel relationships.

Answer 136

Brand equity

Question 137

Using a successful brand name to launch a new or modified product in a new category.

Answer 137

Brand extension

Question 138

The set of beliefs that consumers hold about a particular brand.

Answer 138

Brand image

Question 139

Getting price to break even on the costs of making aid marketing a ‘product’ or setting price to make a target profit.

Answer 139

Break-even pricing (target profit pricing)

Question 140

A wholesaler who does not take tide to goods and whose function is to bring buyers and sellers together and assist in negotiation.

Answer 140

Broker

Question 141

A review of the sales, costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives.

Answer 141

Business analysis

Question 142

The decision making process of which business buyers establish the need for purchased products and services, and identify, evaluate and choose among alternative brands and suppliers.

Answer 142

Business buying process

Question 143

All the organizations that buy goods and services to use in the production of other products and services, or for the purpose of reselling or renting them to others at a profit.

Answer 143

Business market

Question 144

The collection of businesses and products that make up the company.

Answer 144

Business portfolio

Question 145

The person who makes an actual purchase.

Answer 145

Buyer

Question 146

The stages that consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction and purchase.

Answer 146

Buyer-readiness stages

Question 147

People in an organization’s buying centre with formal authority to select the supplier and arrange terms of purchase.

Answer 147

Buyers

Question 148

All the individuals and units that participate in the business buying-decision process.

Answer 148

Buying centre

Question 149

produced as a result of the main factory process, such as waste and reject items.

Answer 149

By-products Items

Question 150

Setting a price for by-products in order to make the main product’s price more competitive.

Answer 150

By-product pricing

Question 151

Industrial goods built partly enter the finished product, including installations and accessory equipment.

Answer 151

Capital items

Question 152

Setting a price for products that must be used along with a main product, such as blades for a razor and film for a camera.

Answer 152

Captive-product pricing

Question 153

Large, ‘no- frills’ stores that sell an extensive assortment of goods, and are noted particularly for their bulk discounts.

Answer 153

Cash-and-carry retailers

Question 154

Wholesalers that stock a limited line of fast-moving goods - such as groceries, toys, household goods, clothes, electrical supplies and building materials - and that sell to small retailers and industrial firms for cash and normally do not provide a delivery service

Answer 154

Cash-and-carry wholesalers

Question 155

Low-growth, high-share businesses or products; established and successful units that generate cash that the company uses to pay its bills and support other business unit that need investment.

Answer 155

Cash cows

Question 156

A price reduction to buyers who pay their bills promptly.

Answer 156

Cash discount

Question 157

Offers to refund part of the purchase price of a product to consumers who send a ‘proof of purchase’ to the manufacturer.

Answer 157

Cash refund, offers (rebates)

Question 158

Direct marketing through catalogues that are mailed to a select list of customers or made available in stores.

Answer 158

Catalogue marketing

Question 159

A retail operation that sells a wide selection of high mark-up, fast-moving, brand-name goods at discount prices.

Answer 159

Catalogue showroom

Question 160

A modern ‘breed’ of exceptionally aggressive ‘off-price’ retailers that offer branded merchandise in clearly defined product categories at heavily discounted prices.

Answer 160

Category killers

Question 161

Marketing research to test hypotheses about cause-and-effect relationships .

Answer 161

Causal research

Question 162

Disagreement among marketing channel members on goals and roles - who should do what and for what rewards.

Answer 162

Channel conflict

Question 163

A layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.

Answer 163

Channel level

Question 164

Questions that include all the possible answers and allow subjects lo make choices among them.

Answer 164

Closed-end questions

Question 165

The step in the selling process in which the salesperson asks the customer for an order.

Answer 165

Closing

Question 166

The practice of using the established brand names of two different companies on the same product.

Answer 166

Co-branding

Question 167

Buyer discomfort caused by post purchase conflict.

Answer 167

Cognitive dissonance

Question 168

Companies that offer online information, entertainment, shopping and other marketing services to subscribers who pay the company a monthly fee. They make use of their own dedicated networks and operate their own computers which are connected to the Internet, thus offering somewhat better security than the Internet.

Answer 168

Commercial online services

Question 169

Introducing a new product into the market.

Answer 169

Commercialization

Question 170

A branding approach that focuses on the company name and individual brand name

Answer 170

Company and individual brand strategy

Question 171

Advertising that compares one brand directly or indirectly to one or more other brands.

Answer 171

Comparison advertising (knocking copy)

Question 172

Promotional events that give consumers the chance to win something - such as cash, trips or goods - by luck or through extra effort.

Answer 172

Competitions sweepstakes, lotteries, games

Question 173

An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.

Answer 173

Competitive advantage

Question 174

Selling the promotion budget to match competitors’ on days.

Answer 174

Competitive-parity method

Question 175

Strategies that strongly position the company against competitors and that give the company the strongest possible strategic advantage.

Answer 175

Competitive strategies

Question 176

The process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.

Answer 176

Competitor analysis

Question 177

A company whose moves are mainly based on competitors’ actions and reactions; it spends most of its time tracking competitors’ moves arid market shares and trying to find strategies to counter them.

Answer 177

Competitor-centered company

Question 178

Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands.

Answer 178

Complex buying behavior

Question 179

A market coverage strategy in which a brand goes after a large share of one or a few submarkets.

Answer 179

Concentrated marketing

Question 180

Testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.

Answer 180

Concept testing

Question 181

A positioning error that leaves consumers with a confused image of the company, its product or a brand.

Answer 181

Confused positioning

Question 182

The buying behavior of final consumers - individuals and households who buy goods and services for personal consumption.

Answer 182

Consumer buying behavior

Question 183

All the individuals and households who buy or acquire goods and services for personal consumption.

Answer 183

Consumer market

Question 184

A principle of enlightened marketing which holds that a company should view and organize its marketing activities from the consumers’ point of view.

Answer 184

Consumer-oriented marketing

Question 185

A product bought by final consumers for personal consumption.

Answer 185

Consumer product

Question 186

Sales promotion designed to stimulate consumer purchasing, including samples, coupons, rebates, prices-off, premiums, patronage rewards, displays, and contests and sweepstakes.

Answer 186

Consumer promotion

Question 187

Sales promotions that promote the product’s positioning and include a selling message along with the deal.

Answer 187

Consumer relationship-building promotions

Question 188

An organized movement of citizens find government agencies to improve the rights and power of buyers in relation to sellers.

Answer 188

Consumerism

Question 189

Ads evenly within a given period.

Answer 189

Continuity Scheduling

Question 190

A joint venture in which a company contracts with manufacturers in a foreign market to produce the product.

Answer 190

Contract manufacturing

Question 191

A vertical marketing system in which independent firms at different levels of production and distribution join together through contracts to obtain more economies or sales impact than they could achieve alone.

Answer 191

Contractual VMS

Question 192

A consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

Answer 192

Convenience product

Question 193

A small store located near a residential area that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.

Answer 193

Convenience store

Question 194

A channel consisting of one or more independent producers, wholesalers and retailers, each a separate business seeking lo maximize its own profits even at the expense of profits for the system as a whole.

Answer 194

Conventional distribution channel

Question 195

Measuring the communication effect of an advertisement before or after it is printed or broadcast.

Answer 195

Copy testing

Question 196

The problem-solving services or core benefits that consumers are really buying when they obtain a product.

Answer 196

Core product

Question 197

The ‘hub’ of marketing strategy has two parts; the identification of a group of customers for whom the firm has a differential advantage; and then positioning itself in that market.

Answer 197

Core strategy

Question 198

A small store, usually owned and managed by a person who lives in the local neighborhood. It is typically a grocery store, a convenience store or a confectioner-tobacconist- nerts agent (CTN). It serves the immediate neighborhood.

Answer 198

Comer sump

Question 199

A brand strategy whereby the firm makes its company name the dominant brand identity across all of its products.

Answer 199

Corporate brand strategy

Question 200

A form of licensing whereby a firm rents a corporate trademark or logo made famous in one product or service category and uses it in a related category.

Answer 200

Corporate licensing