Can you name the Marketing Principles Terms? by cdurg7791

Definition	Term	Extra
Reach x Frequency		Blank
Three added benefits of global marketing		Int. Marketing
Brands offered by wholesalers and retailers		Good way to reach additional market segments---nearly 1 in 5 items sold in grocery stores are private
Relative difficulty of understanding the innovation		Determinant of Adoption Rate--Slow rate for confusing products
Promotion of a concept, an idea, a philosophy or the goodwill of an industry, company, organization, person, geo. location or govt. agency		Closely related to the PR function
Assumes that the difference between market characteristics and competitive situations in certain nations require firms to customize their marketing decisions to reach ind. marketpl		Flexibility for cultural, geographic and language differences
Gains the receivers attention, achieves understanding by both sender and receiver, stimulates receivers needs and suggests means to satisfy them		IMC
Complete ban on the import of a product		Ultimate quota, US has one against Cuba
National brands sold exclusively by a retail chain		Typically provide better profit margins than private labels--employed by Target/Walmart
Imply that incorrect buying decisions could lead to illness, injury or other bad consequences		Ex. Insurance, autos, health care, foods
Underlying foundation for modern life and efficient marketing that includes transportation, communications, banking, utilities, public serv.		Economic Factor when planning entering a foreign market
Fifth consideration for Promo mix		Self explanatory
Paid, nonpersonal communications intended to inform or persuade		Primarily involves mass media, TV, radio, magazines, movie screens and billboards
Gathers a group of specialists from different areas to work together to develop new products		Must meet criteria for ROI, uniqueness, serving a need, compatibility and strengh of patent
Removes trade barriers between Canada, USA and Mexico		Focus on economic cooperation rather than political integration---some disadvantages for each country
Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler		Strengthens vertical links.
Defines a standard marketing mix and implements it with minimal modifications in all foreign markets		Low cost--Brings advantage of economies of scale--works well for luxury and other products with universal appeal
Strategy to enter a foreign market with high risk and high control		Includes acquisitions, joint ventures and overseas divisions
Promotional effort by the seller to stimulate final-user demand, which then exerts pressure on the distribution channel		Needed when marketing intermediaries stock a large number of competing products and exhibit little interest in them
Includes asvertising, product plpacement, sales promotion, direct marketing, PR and guerilla marketing		1/3 of funds allocated to Media advertising
Where the production of goods or services is assigned to local companies		Contractual Agreement
Innovation Consistent with the vaules and experiences of potential adopters		Determinatnt of Adoption Rate---Tech savy attracted to iPhone
Innovation that appears far superior to previous ideas offers a greater relative advantage--reflected in terms of lower price, physical improvement, ease of use		Determinant of Adoption Rate
Relates the cost of an ad to the number of people who click it		IMC
International trade accord that has helped reduce world tariffs		Sponsored several tariff negotiations, reduced worldwide tariff level by a third--existed for six decades
Supports marketing strategies of an individual product or product line		Set prices, develop ads and sales promos, work with sales reps. in the field
When participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions		Facilitates multinational economic integration---critics worry about U.S. jobs being outsourced abroad
Extends customs union by reconciling all government trade regulation		Int. Marketing
Initial free/discounted trial of good or service reduces risk of financial loss		Determinant of Adoption Rate--Coupon for free night at hotel
Added value that a respected, well-known brand name gives to a product in the marketplace		Includes product recognition, perceived quality, customer loyalty and facilitates expansion into new markets, linked to high profits and stock returns
First objective of a package		Prescription bottles
Process by which new goods or services are accepted in the marketplace		Focuses on speed at which innovative product is accepted/rejected
Achieved with differentiation, relevance, Esteem and Knowledge		DREK
Establishes free trade area plus a uniform tariff for trade with nonmember nations		Int. Marketing
Consists of marketing activities other than personal selling, advertising, guerilla marketing and PR that stimulate consumer purchasing and dealer effectiveness		Includes displays, trade shows, coupons, contests, samples, product demonstrations
Seek to create a positive mood realted to firms goods or services		Some argue people remember the funny and not the product, may lose effectiveness sooner than others
Subset of the marketing mix which marketers attempt to achieve the optimal blend of personal/nonpersonal selling to achieve promo. objectives		Bulk made up of personal selling, ads and sales promotion
First consideration for Promotional Mix		Personal selling effective if limited number of buyers
Communication link between buyers and sellers; the function of informing, persuading and influencing a consumer's purchase decision		IMC

Definition	Term	Extra
Unconventional, innovative and low-cost marketing techniques designed to get consumer's attention in unusual ways		Includes buzz marketing, viral marketing
Series of different but related ads that use a single theme and appear in different media within a specified time period		Must balance characteristics with conclusions
Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity		Purchases access to activities audience and image associated with the activity
Selling a product in a foreign market at a price lower than it commands in the producer's domestic market		Target nations respond with tariffs and restriction--
Sellers promotional presentation conducted on a person to person basis with the buyer		More than 16 mill--Oldest form of promotion--can be face to face, over the phone, through video conference or computer links
Form of exporting whereby goods and servies are bartered rather than sold for cash		Used by less developed nations when they lack sufficient foreign currency---allows sellers to exchange their products only for domestic products to control balance of trade problems
Brand for which the owner claims exclusive legal protection		Not to be confused with trade name--Coca Cola is a trade name, Coke is a (Term)
Name, term, sign, symbol, or some combo that identifies the products of one firm while differentiating them from that of the competition		Achieve consumer familiarity and acceptance
Introduction of new products into identifiable or established markets		Entering the HD TV market
Designed to raise the retail price of an imported product to match or exceed that of a similar domestic product		Higher than Rev. Tariff, Used to reduce consumption practices
Consumer refusal of alternatives and extensive search for desired merchandise		Ultimate stage of loyalty, achieved a monopoly, more likely for luxury items--Rolex
Second objective of a package		Must capture shoppers attention, enhance convenience, address consumers concerns, reusability
Single brand name that identifies several related products		Johnson and Johnson, Pepperidge Farms
In place agreement, impact expected to be smaller on USA than NAFTA		Supporters claim it will help American workers, farmers and small businesses thrive--critics worry that agricultural jobs will be lost
Agreement that grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent or process in a specified are		Contractual Agreement
Tests consumers reactions to ads message		Pretesting and Posttesting
Tax levied against imported goods		Eliminated by GATT, WTO--Two types, could be per pound, gallon, unit
Seeks to increase sales of existing products in existing markets		Modify products, improve product quality, promote new way to use product
Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands		Dominant brands pretend competitors dont exist, used to be frowned on.
Promotional technique in which marketing partners share the costs of a promo campaign that meets their mutual needs		Movies on Candy Bars
Purchasing foreign goods and services		Int. Marketing
Second consideration for Promo. Mix		Standardized products rely less on personal selling
Percentage of web site visitors who actually make a purchase		IMC
Nonpersonal selling of a particular good or service		What the average person thinks of when talking about Ads.
Customs union, moving towards economic union by adopting a common currency, removing trade restrictions, and permitting free flow of goods and workers throughout the member nations		27 countries-goal is to remove all barriers to free trade between members and to strenthen its position as an economic/politcal power
Products characterized by plain labels, no advertising and the absence of brand names		Market share increases during economic downturn--food and household staples
Measurement technique that relates the cost of an ad to every thousand people who view it		Anyone who sees it creates one impression
Organization that replaces GATT, overseeing GATT agreement, making bidding decisions in mediating disputes, reducing trade barriers		152 member org, has binding decisions--new member have to go through negotiations for up to ten years
Focuses on developing entirely new products for new markets		Cisco into electronics market
Stages consumers go through in learning about a new product, trying it and deciding whether to purchase agan		Awareness, Interest, Evaluation, Trial, Adoption/Recognition
Promotional effort by the seller directed to members of the marketing channel rather than final users		Employ coop-advertising allowances to channel members, trade discounts, personal selling effeort and other dealer support
Used to attract the consumers attention		Walk fine line between what is acceptable and what is not
Asseses how well medium delivers message, where and when to place message, and size of audience		Nielsan Ratings for TV, circulation for magazines
Consumer awareness and indentification of a brand		First objective for newly introduced products, tactics include free samples or discounts
Strategy to enter foreign market with low risk and low control		Int. Marketing
Form of selling where marketer pays a movie/TV owner a feww to display a product in their show		E.T Reese's Pieces
Coordination of all promotion activities to produce a unifies, customer-focused promotional message		Uses database tech to refine the marketers understanding of the target audience, segment the audience and select the best type of media
The opportunity to view an innovations superiority in a tangible form		Determinant of Adoption Rate--In store demonstration
Direct communications other than personal sales contact, between buyer and seller, designed to generate sales, information requests or store web site visits		INcludes direct maril, telemarketing, direct response advertising, informercials

Definition	Term	Extra
Group that typically brings together experts in areas such as mkt, acc., etc.		Most common organizational arrangement, mostly approve of other new plans rather than make their own
Firm's communications and relationships with its various prublics		Include customers, suppliers, stockholders, employees, the govt and the general public
Firm whose marketing specialists help advertisers plan and prepare advertisements		Should provide creativity and objectivity--not easily obtainable in house
Refers to a companys messages about general management issues		Used when making a decision that affects the public
# of times individuals are exposed to ad		Dennis Quaid
Third consideration for Promo Mix		More personal selling in intro stages
Using celebrity spokesperson to market product.		1 out of every 5 ads has a celeb---dont want consumers to remember celeb and not brand
Assess an ads likely effectiveness before it actually appears in the chosen medium		Message Research
Contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements or a manufacturer or other franchiser		Contractual Agreement
Unpaid placement of news or favorable presentation on radio or television		Marketing oriented aspect of PR-more believable
People who purchase new products almost as soon as the products reach the market		Function as test market, tend to be young, high social status and have high income
Includes all advertising by retail stores that sell goods or services directly to the consuming public		Varies widely in affectiveness
Unfinished agreement that would extend NAFTA to the entire Western hemishpere		34 countries, 800 million people and more than $11 trillion in GDP---would offer low tariffs, streamlined customes, no quotas or subsidies.
Symbol or pictorial design that distinguished a product		Nike swoosh, jolly green giant
Separate, formally organized departments to generate and refine new product ideas		Responsible for every phase of development, innovation is full time activity
Involves two way promotional messages transmitted through communication channels that induce message recipients to participate in actively in the promo effect		Online, kiosks, text messages
Trade restriction limiting the number of units of certain goods that can enter a country for resale		Protects domestic industry and employment and preserve foreign exchange, doesnt always work
Exagerrated claims of a products superiority or the use of subjective or vague statements that may not be literally true		'Most advanced system' 'Most effective'
Visual cues in branding that create an overall look		May be related to color, size, package and label shapes--Mcdonald's Golden arches, Shell's seashell
Authorizing other companies to use a firm's brand name		Brand's owner receives royalties(4-8%), can hurt a brand if licensed product is poor quality or ethically incompaitble, could overextend the brand
Designed to raise funds for importing government		Major source of U.S. (Term)
Introducing a new product that adversely affects sales of existing products		Hannibal
Brand name owned by a manufacturer or other producer		Inclued Hewlett-Packard, Sony, Pepsi-Cola
# of people exposed to ad		ADPR
Third objective of a package		Yikes
Concentrates on finding new markets for existing products		BOFA targets asian residents
Carries an item's brand name or symbol, the name and address of the manufacture/distributor, and info about the products composition, size and recommend uses		Important in attracting customers
Assess advertising copy after it has appeared in the approriate medium		Message Research
Government financial support of a private industry		China does it for gas so drivers could pay less
Part of a brand, consisting of letters, numbers or words than can be spoken and identifies and distinguishes one firms offerings over another		Easy to pronounce, recognize, remember, should give consumers correct connotation of products image, must qualify for legal protection and loses protection when becomes general(Nylon, Zipper)
Consumer reliance on previous experiences with a product to choose the item again		Steve Madden shoes, Juicy Couture clothes
Uniquely identifies a single item rather than promoting it under the name of the company or an umbrella name		Each needs an individual marketing campaign--more expensive than family--Mountain Dew, Sobe, Sierra Mist---all owned by Pepsi
Strategy of attaching a popular brand name to a new product in an unrelated product category		Hope to gain access to new customers by building on the equity already established in their existing brands---Nintendo Wii to Wii Fit
Strategy to enter foreign market with moderate risk and control		Include franchising, foreign licensing and subcontracting
Refers to narrowly focused PR activities that directly support marketing goals		involves an organizations relationships with consumers , can be proactive or reactive
Fourth consideration for promo mix		Ads dominant for low unit value products
Marketing domestically produced goods and services in foreign countries		Int. Marketing
Distinguishes puffery from specific, quantifiable statements that constitute an express warranty		Obligates company to stand behind its claim
Steps through which an individual reaches a purchase decision		Attention, Interest, Desire, Action

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