Marketing Concepts
What is the term for the strategy that focuses on identifying and meeting the needs and wants of consumers?
Marketing Concept
This term refers to the income available to a consumer after taxes and necessary expenses.
Discretionary Income
This event is often referred to as the pinnacle of amateur (now includes professionals) sports, featuring athletes from around the world.
the Olympics
What pricing strategy involves setting prices based on the costs of production plus a markup?
Cost-Plus Pricing
What do we call a name, term, design, or symbol that identifies a seller's goods or services?
Brand
This term refers to the combination of product, price, place, and promotion strategies used to market a product.
Marketing Mix
What is the term for the agreement that allows one party to use the intellectual property of another for a fee?
Licensing
What is the term for the marketing strategy that promotes a brand through its association with sports events or athletes?
Sponsorship
This pricing method involves offering a product at a low price to attract customers, with the hope of making profits on other products.
Loss-Leader Pricing
What is the term for the financial value added to a product based on its brand name?
Brand Equity
What do we call the specific group of consumers that a business aims to reach with its marketing efforts?
Target Market
This concept involves the combination of different products or services to create a greater overall value for consumers.
Synergy
What do we call the marketing efforts aimed at promoting sports teams and events?
Sports Marketing
What is the term for the practice of setting prices that end in odd numbers, like $19.99, to make them seem lower?
Odd-Even Pricing
What do we call the practice of using a brand name to promote multiple products?
Multi-Product Branding
What is the economic measure that reflects the total value of all goods and services produced in a country?
GDP
What do we call the financial compensation paid to an athlete or celebrity for promoting a product?
Endorsement
This athlete is famously known as a pioneer in skateboarding and has a strong brand presence.
*One of the greatest video game series of all time...
Tony Hawk
What pricing strategy involves setting a high price to create a perception of exclusivity?
Prestige Pricing
This term refers to the legal protection granted to a brand name or logo.
Trademark
What is the term for the process of dividing a market into distinct groups of buyers?
Market Segmentation
This term describes the products that are related to a core product but are not the main offering.
Ancillary Product
What term refers to the marketing of products through their association with sports figures?
Marketing Through Sports
This term refers to the practice of adjusting prices based on the demand for a product.
Yield-Management Pricing
What is the term for a brand that is not associated with a specific manufacturer and is sold at a lower price?
Generic Brand