terms
What is Marketing?
All activities involved in getting goods and services from the business that produces them to the consumer
Research and development are 2 of 6 marketing activities, what are 2 more
•sales
•distribution
•advertising
•promotion
decision point
Product and place are 2 of the 4 p's. What are the other 2
price, promotion
Daily double what are the 2 c's of marketing
customer/consumer and competitors/competition
What is branding
Creating an image for products and services
What is a mongram
stylized writing of words or numbers
there are 2 ways to measure the impact of marketing. The first is sales. what is the second
Consumer reaction to the brand
What is the marketing mix
A good combination of all four elements translates into an effective campaign.
There are 3 different channels where companies sell/decide to sell products. what are they
direct, indirect and speciality
daily double: What does it mean when a company is price sensitive?
aware of competitors prices
The nike swoosh is an example of a?
abstract symbol
effective Marketing increases
Brand Equity
There are 4 factors that make up the first P products. What are they
design, quality, benefits and features
There are 2 ways to increase market share. what are they?
What is an intermediaries
a middle person, connect the customer to the manufacturer
what is brand identification
Everything associated with a product (slogan, logo, name)
Brand equity is at this point during the maturity phase of the product life cycle
what is highest
Since products like liquid detergent, where design doesn’t really apply, how can they make their product stand out
Packaging
when the consumer makes a purchase and they get something for free. this is know as a?
premium
What is psychographics?
the study of lifestyles
A logo or trademark helps a product compete for_________
consumer awareness
The are 2 options that a company can choose from during the decision point. what are they?
rebrand/reformulate or discontinue
the smell of different perfumes, foam or feather pillows, and laundry detergent can be spring scent or scent-free are examples of what?
features
you ask your parents to buy you a PlayStation five but they decide not to. This is an example of them being the person who makes the buying decision's. otherwise know as a?
Gatekeeper