Business Exam 4
culture
is the set of values ideas attitudes and symbols created to shape human behavior
last stage in marketing research process
make recommendations to management
limited service or full service
merchant wholesalers can be categorized as either...or...wholesalers
agent
Person who works as a sales representative for a manufacturer or wholesaler and gets paid a commission on any sales is a
consumers
The end-users of consumer goods like potato chips pencils and petfood are
marketing intermediaries
Within the distribution channel, Retailers and wholesalers are called
skimming
a strategy of charging a high introductory price for a new product that invites eventual competition
markup pricing
adding a certain percentage to a products whole sale cost to arrive at the retail price
social marketing
an example is a campaign against drunk driving, support for local police, etc.
demographic
an example of selling rain gear in seattle
public relations
any communication or activity designed to win goodwill or prestige for a company or person
corporate distribution system
Goodyear's manufactures acts as distributor and sells at the retail level, Goodyear is considered to have a
an example of consumer durable
bedroom dresser
the first level of brand loyalty is
brand recognition
an example of consumer nondurable
breakfast cereal
administrative marketing system
firms that are aligned in a hierarchy are said to have a
brainstorming
has a group think of as many ways as possible to generate new product ideas
supply chain management
helps increase the efficiency of logistics service by minimizing inventory and moving goods effectively from producers to ultimate users
demography is the study of
individual ages, education levels, household size and income levels
primary data
information collected for the specific purpose at hand
marketing research
is the collection recording and analysis of data important in marketing
emblem
is the legally exclusive design name or symbol associated with companys brand
marketing
is the process of planning and executing the conception, pricing, promotion, etc.
backward integration
occurs when a wholesaler or retailer gains control over the production process of the products it sells.
possession strategy
personal selling, advertising, public relations, etc.
customer satisfaction
refers to the customers feeling that a product has met or exceed expectations
exclusive distribution
selects only one distributor per market area to carry its product
truck
shipment by...is the most flexible method of shipping
air
the fastest way to ship merchandise is
NAD, CBBB, NRB, FTC
the following organization has a role in regulating advertising messages
product life cycle
the process that products go through as they pass through their introduction
qualifying questions
the questions that help the salesperson determine whether his or her prospect is a real potential buy is called
in store and nonstore
the two types of retailing are
loyalty marketing programs, sweepstakes, bonus packs and product sampling
type of sales promotion
an example of disposable
peroxide for whitening teeth
home shopping network
example of non store retailing
generic brand
is a product that carries no brand name and sells for less than other similar products
target market
is a specific group of consumers toward which a firm directs its marketing efforts
brand
is a word, name, symbol or design that distinguishes a companys product
product
is any good or service that satisfies wants
advertising
is any paid form of a non-personal presentation by an identified sponsor
informational labeling
is designed to help consumers make proper product selection
promotion
is the act of informing persuading and reminding the target market about a product
market segmentation
is the division of markets into different groups
differential advantage
this reputation for extraordinary customer service gives the department store chain
