1-3
The Music Stand direct-mail company wants to send catalogs to music teachers, dancers, and other music consumers. What type of data would be helpful in this endeavor?
Psychographic
Segmentation based on buying characteristics.
Behavioral
What id a firm’s percentage of the total sales volume generated by all competitors in a given market.
Market share
Which of the 4 P’s of marketing has to do with where you can purchase the product or service?
Place.
Add-on to a product or service at no additional cost to customer.
premium
In economic terms, land, labor, and capital refers to.
Factors of production.
A specific group of people with a specific want or need.
Target market
What type of pricing is everyday low pricing?
Psychological pricing.
Supply of rice goes down, demand for price goes down.
Price stays the same.
An item priced at or below cost to draw customers into a store.
Loss leader
Informing, persuading, or reminding potential customers about a good or service is called _______.
Promotion
The marketing of products or services to other businesses and organizations.
B2B- Business to Business
When a company discounts a product and uses advertising phrases such as “compare and save” the product is in its _____ stage in the product life cycle.
Decline.
A group of closely related products.
Product line
A certificate that entitles a customer to a cash discount on goods or services.
Coupon
If a company cannot find relevant information from previous marketing research studies, the company will need to use _____ data.
Primary
The SWOT Analysis components are…
Strengths, Weaknesses, Opportunities, Threats
When sales revenue equals the cost and expenses of making a distributing a product.
break -even point.
Broadcast Media includes…
Radio and TV
Psychological pricing strategy involving the last digit of a product or service price, in the belief that certain prices or price ranges appeal to a certain set of buyers.
Odd/even pricing
Measurable statistics in segmentations like age, gender, income.
Demographics
_______ operational document that has outlines an advertising strategy that an organization will implement to generate leads and reach is target market.
Marketing Plan
A business’s group of closely related products.
Product line.
Cash Back Offer not given at the time of purchase… requires further action by the customer.
Rebate
The value that a consumer thinks a products is worth.
Perceived value