Product Strategy
Products that a consumer usually buys frequently, immediately, and with a minimum amount of comparison.
What is a Convenience Product?
The amount of money charged for a product or service.
What is a Price?
This is the function of a company that builds good relations with the company's various publics by obtaining favorable publicity, building up a good "corporate image" and handling unfavorable rumors, stories, and events.
What is Public Relations?
What are Sales Promotions?
The use of technology-intensive platforms (Internet, mobile, social media, etc) to engage directly with targeted individual consumers, brand communities, and businesses.
What is Digital Marketing?
These types of products are bought less frequently, are available at fewer locations, and are generally compared to other products in its category.
What is a Shopping Product?
This is adding a standard mark-up to the cost of a product.
What is Cost-Plus Pricing?
This is when the company creates a character to represent the brand.
What is a Personality Symbol?
This type of consumer promotion is when you offer your target market a free trial amount of your product.
What is a Sample?
This includes independent and commercial online communities where people congregate socialize and exchange views and information
What is a Social Media?
DOUBLE JEOPARDY QUESTION! (Worth $600) Using an existing brand name to launch a product in a new product category.
What is a Brand Extension?
The pricing of accessory products along with the main product.
What is Optional Product Pricing?
This advertising objective keeps consumers thinking about a product.
What is Reminder Advertising?
DAILY DOUBLE! (This question is worth $600) In addition to a base salary, this type of compensation is often given to salespeople based on how much they sell.
What is a Commission?
DAILY DOUBLE!!! (This question is worth $600 if answered correctly) Marketing messages, promotions, and other content delivered to on-the-go consumers through mobile phones, smartphones, tablets, and other mobile devices
What is Mobile Marketing?
The practice of using the established brand names from two different companies on the same product.
What is co-branding?
This is pricing products that must be used along with the main product.
What is Captive Product Pricing?
DAILY DOUBLE! (Worth $800) This type of message execution uses "evidence" in advertising that proves the brand is superior.
What is Scientific Evidence?
This type of sales force structure gives a sales person exclusive rights to sell the company's full product line in a given geographical area.
What is a Territorial Sales Structure?
A website that presents brand-related content that engages consumers and creates a customer community around a brand.
What is a Brand Community Website?
What is a Private Brand?
DAILY DOUBLE! (Worth $1,000) Setting a high price for a new product where the company makes fewer but more profitable sales per unit sold.
What is Market Skimming Pricing?
These are the two parts of an advertising strategy. One has to do with what you are communicating to the target market; the other has to do with where the ad is placed.
What is:
1. Advertising Message
2. Advertising Media
Name 6 different types of consumer sales promotions.
What are Samples, Coupons, Rebates, Price Packs, Premiums, Advertising Specialties, Point-of-Purchase, Contests, Sweepstakes, Games, Event Sponsorships
This is a consumer’s use of multiple marketing channels (digital and traditional) across stages of the consumer buying decision process
What is Consumer Omni-Channel Navigation Behavior?