#1
This term represents the process and methods that generates, stores, analyses, and distributes information to promote good decision making for a business
What is Marketing Information Management?
How is privacy dealt with in Information management.
The activities involved in the daily function of the business to generate revenue.
What are operations?
What are some areas an operation's manager is in charge of
A type of business that is owned and operated by one person.
What is a Sole Proprietorship?
Any direct contact between a salesperson and a customer to fulfill a customer wants and needs.
What is personal selling?
Standards set by an organization that help insure people are treated fairly and honestly.
What are ethics?
A projection of suture sales that is incorporated into a marketing plan.
What is a Sales Forecast?
How a product or brand is perceived by consumers in relation to its competitors within a specific market, essentially defining its place or standing among other similar offerings, based on factors like features, price, quality, and brand image,
What is market position?
How does market position affect your market strategy?
The most money is spent to educate consumers about the product and develop its branding during this stage of the product life cycle.
What is the introduction stage?
This type of business is owned and owned and operated by two or more people and is jointly responsible for business outcomes.
What is a partnership?
A form of paid non personal promotion in which a company promotes an idea, good, or service through a variety of media.
What is advertising?
Name two media advertisers use.
This organization was created in 1970 to promote the safety and welfare of all employees in a business
What is OHSA?
This unethical practice happens when a price is set higher than normal due to a spike in demand for the product.
What is price gouging?
A business's plan for reaching prospective consumers and turning them into customers of their products or services
What is a marketing strategy?
Name two market strategies.
A concise statement that explains how a product or service is different from its competitors and why customers should choose it
What is a Unique Value Proposition?
How can you use your UVP to advertise your product?
This type of business is operated by several people and owned by stock holders,
What is a corporation?
Promotional activities that are designed to create good image with the public.
What are Public Relations?
Name 2 things a company does to improve its public relations.
At this stage of the product life cycle, a company may decide to discontinue a product.
What is the decline stage?
What else could a company do if its product is in the decline stage?
The term for when a seller groups products together and sells them for a price cheaper then buying them individually.
What is Product Bundling?
using a name, term, design, symbol or combination of any to distinguish your product from a competitors
Product/ Service branding.
What does successful branding do for your market penetration and how does it do this?
This term is influenced by perception of brand, competition, society, and consumer research
Buying behaviors,
What other things influence buying behaviors
Money is spent on branding and addressing price competition during this stage of the product cycle
What is the growth cycle?
Selling to a customer by phone, mail, email, or website rather than through a retailer.
What is direct marketing?
This government act prevents price fixing and charging different customers different prices in the same situation.
What is the Sherman anti-trust act?
How do companies get around the act when charging different clients different prices?
This can be used to protect customer information from identity thieves.
What is an Enterprise Information System?
Name three of five things written communication must be or do for employees in order to be effective.
1. Answer questions
2. be relevant
3. Focus on the end user
4. Be specific
5. Give examples
Headline, copy, illustration and signature are elements of this term.
What is advertising?
What must the elements of advertising do to make your ad effective?
Marketing strategy shifts to emphasize competitive advantages during this stage of the product life cycle.
What is the maturity stage?
Any form of communication used to inform potential customers about a product, service, or brand, aiming to persuade them to purchase it by highlighting its benefits and creating a positive image in their minds
What is promotion?
Term that relates to how well your research questions measure what you intend them to.
What is validity?
Give an area you would want to measure in marketing and give a valid question that measures it.
This term involves using skills and techniques to execute a temporary team activity designed to develop a product, service, or outcome, both effectively and efficiently.
What is Project Management?
Tell me the 5 phases of project management.
A detailed examination of a company’s market presence based on internal and external factors that examines a business’s current and potential customers and how they respond to the company’s products and services.
What is a situational analysis?
Name 3 things a business can find out from a situational analysis.
This type of Public relation activity focuses on image building.
What is a proactive activity?
Give an exmaple of a proactive activity.
This type of public relations activity focuses on responding to negative or damaging information in the media.
What are reactive PR activities?
Which activity might a company use to respond to negative claims made by the media?
Market research term that relates to how the respondents all interpret the question in the same way.
What is reliability?
What can you do to help the reliability of your questions?
This government agency sets standards for products and has the authority to issue recalls for products proven to be unsafe.
What is the Consumer Product safety Commission?
Which agency has the authority to approve new products, oversee labeling, and safety regulations?
The process of a marketer in identifying the most profitable areas to offer a new product or service.
What is Market Identification?
Name 3 types of data marketers use to identify target markets.
Data used to identify a population in quantitative terms like age, gender, education or occupation.
What are Demographics?
Data that identifies where potential consumers live.
What are Geographics?
Data that identifies common interests, attitudes and lifestyles of potential consumers.
Psychographics
The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy.
What is the Promotional Mix?
Decisions of a business regarding forms of payment, returns and exchanges, sales quotas, sales commission and legal and ethical issues.
Selling Policies.
Oral or written recommendation by a satisfied customer to the prospective customers of a good or service. Also the effective form of advertainment.
Word-of-Mouth Channels