Business Exam 4

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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


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