Marketing mix
The character of a brand described in terms of other entities, such as people, animals or objects.
What is Brand Personality?
A model that says that a product goes through a four-stage cycle over time.
What is the product lifecycle model?
A five step process that describes the phases a consumer goes through when buying a product.
What is consumer decision-making process?
What is positioning?
An assessment of competitors relative strength and weaknesses.
What is a competitor audit?
A strategy for new product launches where the objective is to gain market share rapidly and price is set low and the product is heavily promoted.
What is rapid penetration?
Managing groups of brands and product lines and evaluating them against each other to determine how the company should invest its ressources.
What is portfolio planning?
What is cognitive dissonance?
The identification of individuals or organizations with similar characteristics that have significant implications for determination of marketing strategy.
What is market segmentation?
Framework that can help determine the competitive structure of an industry.
What is Porter's Five Forces? (the degree of rivalry between competitors, the threat of new entrants, the bargaining power of suppliers and buyers, and the threat of substitute products.)
Incentives directed towards the consumer or the retailer in order to stimulate trial and purchase e.g. money off and free samples.
What is sales promotion?
Framework that says that a company has four main strategies for growth; it can offer its existing products to existing or new markets or it can develop new products for existing or new markets.
What is Ansoff's growth strategies? (market penetration/expansion, Market development, Product development and Diversification.)
Initiator, influencer, decider, buyer, user.
What are buying roles?
What is psychographic segmentation?
What are core competencies?
What is direct marketing?
Strategies that can be applied to gain a competitive advantage.
What are Porter's generic competitive strategies? (differentiation, cost leadership, differentiation focus, and cost focus)
Purchase by an organization where the product has been bought before but the product has changed since it was last bought.
What is modified rebuy?
Taget marketing strategy that involves developing unique marketing mixes for each market segment.
What is differentiated marketing?
A clear performance differential over the competition on factors that are important to target customers and that can not easily be copied.
What is a sustainable differential advantage?
Decision that involve the selection of the most effective distribution channel, the most appropriate level of distribution intensity and the degree of channel integration.
What is channel (distribution) strategy.
Marketing strategies that companies might apply when pursuing particular strategic marketing objectives - which are based on the resemblance between military and marketing warfare.
What are competitive marketing strategies? (attack and defence strategies)
A group of people within an organization who are involved in the buying decision.
What is a decision-making unit (buying centre)?
A useful visual tool to illustrate the customers perceptions of the brand and its competitors.
What is a perceptual map?
Through increasing volume of production the basis for a cost-leadership competitive strategy can be founded.
What is economies of scale?