A place within a market segment that represents a narrow group of customers.
What is Niche Market?
100
An activity or benefit that is intangible and does not take on a physical form
What is a Service?
100
The amount of money consumers pay to buy a product.
What is Price?
100
the activities the firm takes to communicate the merits of its product to its target market.
What is Promotion?
100
Also called distribution.
What is Place?
200
A firm only having enough resources to target one market segment.
What is Market Segmentation?
200
Determining the product(s) to be sold is central to the firm's...
What is marketing effort?
200
Meathod of pricing in which the mark-up percentage is determined standard for the industry or may be arbitrarily determined by the entrepreneur.
What is Cost Based Pricing?
200
making people aware of a product in hopes of persuading them to buy it.
What is Advertising?
200
Occurs when 2 or more separate marketing channels are in conflict over their rolls in selling a firms products.
What is Channel Conflict?
300
Creating awareness and a sense of anticipation about a company and it's offerings.
What is Buzz?
300
As a firm prepares to sell its product, an important distinction should be made between the core product and the actual product. (True or False)
What is True
300
The method of pricing in which the list price is determined by estimating what consumers are willing to pay for a product and then backing off a bit to provide a cushion.
What is Value-Based Pricing?
300
An event at which the goods or services in a specific industry are exhibited and demonstrated.
What is Trade Show?
300
The route a product takes from the place it is made to the customer, who is the end user.
What is Distribution Channel?
400
A phrase that is used consistently in a company's literature, advertisements, promotions, etc.
What is Tagline?
400
The most important attribute of a product is that it adds fun in the minds of its target customers. (True or False)
What is False
400
The higher priced product is the better quality product. (Assumed by consumers)
What is Price-quality attribution?
400
A TV commercial that runs as long as a TV show and usually includes a pitch selling an item directly to the public.
What is Infomercial?
400
The process of eliminating layers of middle men, such as distributors and wholesalers, to sell directly to customers.
What is Disintermediation?
500
Denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firms valuation.
What is Brand Equity?
500
An early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.
What is a reference account?
500
The innovative sunglasses company mentioned in the book.
What is Oakley?
500
A low budget approach to marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques.
What is Guerrilla Marketing?
500
Gives a retailer or other intermediary the exclusive rights to sell a company's products.