Channel Management
What is the name of what you are trying to sell?
Product/Service
What are some factors that affect pricing?
Cost, Quality, Supply and Demand
What is the term that informs, persuades and influences the consumer's decision on a product?
Product Promotion
An influencer posts your product and shares it with their followers. This is an example of?
Word-of-Mouth Communication
What are the 4 P's?
Product, Place, Price and Promotion
What is the term for selling something right from the producer to the consumer?
Direct
What is the term for attracting customers through sales then pressuring high prices?
Bait and Switch
What is the term for when a sales representative sells a product communicating directly with the consumer?
Personal Selling
What ensures that the company and consumers understand how products are sold and protect the company legally?
Selling Policies
What is the term for how much you charge for goods and services to create profit?
Pricing
How do you make a product/service available for a consumer?
Distribution
What is the term for selling so low to eliminate competition then raising prices?
Predatory Pricing
What are the five main elements of the promotional mix?
Personal selling, Public Relations, Advertising, Direct Marketing and Sales Promotion
What is the term for advantages or satisfaction a customer receives from a product?
A benefit
What is the term for providing a customer with a good or service that they want?
Selling
What has created a new channel of distribution known as e-tailing?
What is the collusion of competitors to fix prices?
Price Fixing
Telemarketing, Social Media, and Email listings are examples of what?
Communication channels
What can be found through direct experience, written publications, other people and formal training?
Product Information
What is the process of deciding how to get goods into customer's hands?
Channel Management
Who are some channel members?
Producer/Manufacturer, Agents, Wholesalers, Retailers and Consumers
What are some external factors that affect pricing decisions?
Market, Demand, Competitors, Economy and Social Concerns
What are the elements of an advertisement?
Headline, Copy, Illustrations, Signature and Slogan.
What are the five needs on Maslow's Hierarchy of Needs?
Physiological, Security, Social, Esteem and Self-Actualization
What are the main functions of marketing?
Marketing Information management, Product/Service management,promotion, selling, and pricing