Product/Service
An accountant's, hairdresser's or lawyer's output.
What is service?
Coordination of marketer's communications efforts to influence attitudes and behavior.
What is Promotion?
Organized system where products and information flow.
What is distribution?
Last group to enter the purchasing process.
Who are Laggards?
Benefits received by taking an alternative action.
What is Opportunity Cost?
Warranty, repair, installation, delivery, credit.
What is Augmented Product?
Messages aimed at many prospective consumers at the same time.
What are Mass Appeals?
Move products through channel by convincing channel members to offer them.
What is Push method of Distribution?
Best show in the history of television.
What is The Wire?
Percentage change in unit sales resulting from a percentage change in price.
What is Price Elasticity of Demand?
Adopter Group that are opinion leaders.
Who are the Early Adopters?
Promotion that focuses on the organization instead of product.
What is Corporate?
Selling through as many outlets as possible.
What is Intensive Distribution?
Brand used to help explain 'Easy to Pronounce'
What is Porsche?
Price Range focuses on this external factor.
What is competition?
Some disruption, but doesn't alter significantly existing buying patterns.
What are Dynamically Continuous Innovations?
Two way conversation between Buyer and Seller to influence purchase decision.
What is Personal Selling?
Sorting, Breaking Bulk and maintaining inventories.
What are Channel Functions?
Three types of costs.
What are Fixed, Variable and Total Costs?
Close Pricing suggests that products are similar.
What is Assimilation or Parity Pricing?
Characteristics of a Service (4)
What are intangible, variable, perishable and inseperable?
DAILY DOUBLE
5 elements of Promo Mix.
Getting product in right _________, right _______ at right price and right quantity.
What are time and place?
Name 3 Advantages of Sales Promotion.
What are
Generate Sales
Easy to evaluate
Allow price adjustments to certain segments
Shape behavior
Teach them to buy
Name 4 Pricing Tactics or Strategies.
What are Bundling, Installments, Product Line, Captive, Loss leader, Dynamic (surge), Skimming, Penetration, Trial pricing.