Chapter 7:
Products
Products
Products that a consumer usually buys frequently, immediately, and with a minimum amount of comparison.
What is a Convenience Product?
The amount of money charged for a product or service.
What is a Price?
This is the function of a company that builds good relations with the company's various publics.
What is Public Relations?
This is a short-term incentive offered to customers to encourage them to try or buy a product.
What are Sales Promotion?
This is the name for a set of interdependent organizations (intermediaries) involved in bringing a product to the end user.
What is a Distribution Channel or Marketing Channel?
These types of products are bought less frequently, are available at fewer locations, and are generally compared to other products in its category.
What is a Shopping Product?
This is pricing products that must be used along with the main product.
What is Captive Product pricing?
This is when a company creates a character to represent a brand.
What is a Personality Symbol?
This type of consumer promotion is when you offer your target market a free trial amount of your product.
What is a Sample?
This type of channel uses no intermediaries to bring the product to the end user. The company makes and sells the product directly to the consumer.
What is a Direct Marketing Channel?
DAILY DOUBLE!! (This question is worth $600) Using an existing brand name to launch a new product in a new product category.
What is the a Brand Extension?
The pricing of accessory products along with the main product.
What is Optional Product Pricing?
This advertising objectives keeps consumers thinking about a product/brand, not necessarily providing any significant product information.
What is Reminder Advertising?
In addition to a base salary, this type of compensation is often given to salespeople based on how much they sell.
What is Commission?
This type of distribution strategy is used with the company stocks the product in as many outlets as possible.
What is an Intensive Distribution Strategy?
The practice of using the established brand names from two different companies on the same product.
What is Co-branding?
DAILY DOUBLE!! (This question is worth $800) This type of pricing strategy is when the price of a product is based on the customer's perception of what it's worth, not it's cost.
What is Value-Based pricing?
DAILY DOUBLE!!! (This question is worth $800 if answered correctly). This type of message execution style uses "evidence" in advertising that proves the brand is somehow superior.
What is Scientific Evidence?
This type of sales force structure gives a salesperson the exclusive rights to sell the company's full product line in a given geographical area.
What is a Territorial sales structure?
These are disagreements among intermediaries in the value delivery network.
What is Channel Conflict?
This is a brand created and owned by the reseller of a product or service.
What is a Private Brand?
Setting a high price for a new product where the company makes fewer but more profitable sales per unit sold.
What is Market Skimming Pricing?
These are the 2 parts of an advertising strategy. One has to do with what you are communicating; the other has to do with where the ad is being placed.
What is: 1. Advertising Message 2. Advertising Media
DAILY DOUBLE!! (This question is worth $1000) Name 6 different types of consumer sales promotions.
What is: 1.Samples 2. Coupons 3. Rebates 4. Price Packs 5. Premiums 6. Advertising Specialties 7. Point-of-Purchase Displays 8. Contests 9. Sweepstakes 10. Games 11. Loyalty Programs 12. Event Sponsorships
This is when two or more companies at one level join together to follow a new marketing opportunity. (i.e. Subways in Walmart stores).
What is a Horizontal Marketing System?