chap 1&2
Chap 1- What's the difference between needs & wants?
What is...
Needs- things that are required in order to live
Wants- things that add comfort and pleasure to your life
Chap 9- True or False: Publicity can be both negative and positive attention
What is... True
Chap 10- In what order does the event triangle go in?
What is... event, sponsor, & fans
Tactics are...
What are... the actions taken to implement the strategy
Chap 1- What are the four elements of the marketing mix?
What is... Place, Product, Distribution (place) & Price
Chap 9- What is product placement?
What is...
The integration of a product into a show or movie
Chap 11- Managers, promoters, venues, and ticketing agencies have a role in setting ticket prices for concerts
What is... True
The mission statement does what?
What is... describes the nature of the business and the reason the company exists
Chap 2- Opportunity cost is...
What is... the value of the next best alternative that you pas up when making a choice
Chap 6- What are the four stages of the product life cycle?
What is... introduction, growth, maturity, & decline
Chap 11- Customer management is..
What is... building a customer base and carefully scheduling time spent with customers
True or False: The marketing plan & marketing strategy is the SAME thing
What is... False
Plan- an idea
Strategy- a precisely written document
Chap 1- Define discretionary income
What is... the amount of money left over after paying your necessities off
Chap 6- What's the difference between product enhancements & product extensions?
What is...
Enhancements- features added to the basic product to satisfy additional needs
Extensions- items offered in addition to the product to make it more attractive
Chap 10- The difference between quantitative & qualitative is...
What is...
Quantitative- information provided in numbers or percentages
Qualitative- subjective and depends on interpretation
Successful marketers want to know... (give 1)
What is...
Where they are, where they need to be, or how to get there
Chap 2- Whats the difference between primary & secondary data?
What is...
Primary is obtained for the first time for the use of what's being researched
Secondary can be useful but was collected for some other study
Chap 6- What's the difference between skimming price strategy & penetration price strategy
What is...
Skimming- introduces new products at a very high price
Penetration- uses low pricing to help capture a large market share early
Chap 11- True or False: Ticket brokers are registered businesses that legally buy and resell tickets to a variety of entertainment events and guarantee ticket authenticity
What is... True
When a business decides to emphasize other factors in the marketing mix besides price, it is using...
What is... nonprice competition