product life cycle stage where profits are low and expenses are high
What is the introduction stage.
100
articulates how the firm wants its target market to envision it product relative to the competition
What is a positioning statement
100
Lower transaction costs
What are intermediaries
100
A graph that represents the impact of price on quantity
What is the demand curve
200
systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities.
What is market research
200
this stage is critical to a product's survival
What is the growth stage
200
influencers, buyers, and users
What are the three groups that should be considered when attempting to reach your target audience
200
the method where supplies arrive just as they are needed.
What is just in time
200
the sensitivity of demand due to changes in price
What is price elasticity
300
four marketing activities that a firm can control to meet the needs of customers within its target market
What is the marketing mix (or product, place, promotion, and price)
300
Brand name awareness, perceived brand quality, brand association, brand loyalty
What are the elements of brand equity
300
communication efforts used to create and maintain favorable relations between an organization and its stakeholders
What is public relations
300
the planning, implicating, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption to meet customer needs and wants
What is logistics management
300
adding a specified dollar amount or percentage to the seller's cost
What is cost-plus pricing
400
a buyer's doubts shortly after a purchase about whether or not the decision was the right one
What is cognitive dissonance
400
Sender, encoding, message and media
What are the factors of the communication process that the firm CAN control.
400
Attention, Interest, Desire, Action
What is the purpose of a promotional message
400
the addition of unrelated product lines to an existing product mix, particularly fast moving items that can be sold in volume
What is scrambled merchandising
400
pricing an item in a product line low with the intention of selling higher priced items in the line
What is bait pricing
500
An executive summary, environmental analysis, SWOT analysis, marketing objectives, marketing strategies, marketing implementation, and evaluation and control.
What are the seven components of a marketing plan
500
Awareness, interest, evaluation, trial and adoption
What are the stages of the product adoption process
500
Testimonial, straight sell, Lifestyle, Fantasy
What are promotional message execution styles
500
mode of transportation most appropriate for transporting perishable items, technical instruments and emergency parts.