The four ways to segment a total market for a product.
What is demographics, psychographics, geographics, and product related behavior
100
Introduction, Growth, Maturity, and Decline.
What are the four stages of the life cycle?
200
price per item * the number of items sold.
What is sales revenue?
200
trucks, water transportation, pipelines, railway, air transportation.
What are types of transportation?
200
Setting a high price for a new product to capitalize on high demand.
What is Skimming?
200
Selling, pricing, distrubution, promotion, financing, product/service, and marketing infomation managment.
What are the seven functions of marketing?
200
consumer products use this most often
industrial products use this most often
What is Channel B, and Channel A?
300
Setting a low initial price to encourage higher distrubution and exposure.
What is Penetration Pricing?
300
Path a product takes from producers to final user
What is channels of distrubution?
300
Marketers first calculate the costs of making a product and their expenses of doing business, then add their projected profit margin to arrive at a price.
What is Cost-Oriented Pricing?
300
The process of planning, pricing, promoting, selling, and distrubuting ideas, goods, and services to create exchanges that satisfy customers.
What is marketing?
300
Listen carefully, aknowledge the objection, restate the objection, answer the objection.
What is Overcoming Objections?
400
The three basic pricing concepts.
What is Cost-oriented, Demand oriented, and competition-oriented?
400
Deciding how to get goods to the customers/consumers.
What is Distrubution?
400
a brand name, brand mark, trade name, trade character, or a combination of these given legal protection by the federal government and noted by a the trade mark symbol " ® "
What is a Trade Mark?
400
A market that is targeted toward specific people. A market that is for everyone despite their characteristics.
What is target market and mass market?
400
generate new ideas, screen ideas, develope business proposal, develope the product, test product, introduce product, evaluate customer acceptance.
What are the steps to creating a new product?
500
states the consumers will buy only so much of a given product, even though the price is low
What is Law of Diminishing Marginal Utility?
500
The product goes through different factories before it reaches the customer. The product goes directly to the customer.
What is Indirect Distrubution and Direct Distrubution?
500
Dividing the total market into smaller groups of people who share specific needs and characteristics.
What is market segmentation?
500
a random check of one carton in a shipment; other cartons are assumed to be in teh same condition and this method is used for cannned goods and/or paper products.