Marketing and Products
In marketing, "Product, Place, Price, Promotion" are known as
What are the 4Ps of the marketing mix?
The term for interdependent firms that make a product available for businesses or consumers
What is a marketing channel or distribution channel?
Generation that are workaholics and are living longer healthier lives
What are Baby Boomers?
The image that stands behind the name, symbol, icon, design, or combination of these, that identifies the maker or marketer of a product.
What is a brand?
Setting price based on the buyer's perception of value rather than on the seller's cost is known as
What is customer valued-based pricing?
Name the term for no profits below "this" price
What is the price floor?
Name the five stages of the product lifecycle
What is product development, introduction, growth, maturity and decline?
Name and define two types of marketing distribution channels
What are
1. Direct marketing channels: they deliver products to consumers directly from the producer
2. Indirect marketing channels: they involve intermediaries such as wholesalers and retailers between the producer and the consumer
Name four aspects of the Millennial generation (Gen Y)
What is cash strapped, has an intense entrepreneurial spirit, is ambitious and competitive, born between 1980 - 1999?
Name the four elements of brand equity
What are brand loyalty, brand awareness, perceived quality, and brand association?
Name the three types of costs that are part of determining cost-based pricing
What are fixed costs, variable costs, and total costs?
Define the maturity stage of the product lifecycle
What is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing outlays to defend the product against competition?
Name the six microenvironment actors close to a company that affect its ability to serve its customers
What are the company, suppliers, marketing intermediaries, competitors, publics and customers?
Name and define the four types of target market segmentation
What are
1. Geographics (Global, Countries, Provinces, Cities, Neighborhoods)
2. Demographics (Age, Gender, Income, Ethnic, Occupation, Education, Generation)
3. Psychographics (Social Class, Lifestyle, Personality, Characteristics)
4. Behavioural (Based on their knowledge, attitudes, uses or responses to a product. Including Occasion-based purchases, Benefits sought, User status, Usage rate, Loyalty status)
Name the five elements of brand identity
What are brand name, logos, packaging and graphics, product descriptions, and colours?
Name nine aspects of a product
What are the features, design, packaging, brand name, quality level, warranty, delivery and credit, after-sale service, product support and augmented product?
Name the six societal forces that affect the macroenvironment
What are the demographic forces, economic forces, natural forces, technological forces, political forces and cultural forces?