Marketing Key Terms Quiz Stats

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Score 0/41 Timer 20:00
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Hint Answer % Correct
is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.SWOT analysis
33.3%
Mass marketing is a market coverage strategy in which a firm decides to ignore market segment differences and appeal the whole market with one offer or one strategymass marketing
33.3%
the marketing process of approaching prospective customers or clients—typically via telephone, by email or through making a connection on a social network—who were not expectincold calling
33.3%
enlightened marketing concept that holds that a company should make good marketing decisions by considering consumers' wants, the company's requirements, and society's long-term inSocietal Marketing Approach
0%
negotiating with people who can say 'yes'buying influences
0%
defined as the number of people who buy a specific brand or a category of goods at least once in a given period, divided by the size of the relevant market populationmarket penetration
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targets non-buying customers in currently targeted segments. It also targets new customers in new segments. market development
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means reducing risk by investing in a variety of assetsdiversification
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Written contract under which the owner of a copyright, know how, patent, servicemark, trademark, or other intellectual property, allows a licensee to use, make, or sell copies of tlicensing
0%
is the practice of using another firm's successful business modelfranchising
0%
is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equityjoint ventures
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the practice of exchanging things with others for mutual benefit, esp. privileges granted by one country or organization to another.reciprocity
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exists when sales of identical goods or services are transacted at different prices from the same providerprice discrimination
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the use of false or misleading statements in advertising.deceptive advertising
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an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy .strategic planning
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the process of distinguishing a product or service from others, to make it more attractive to a particular target market.product differentiation
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a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their nemarket segmentation
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Analysis and evaluation of a firm's marketing approach, activities, aims, and results achieved marketing audit
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is when a company carries out research first handPrimary Data
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borrowed data. Less reliable than other kind of data. Secondary Data
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: a manufacturer's sales representative sent into a territory to stimulate sales of a product (as through special promotions, public-relations work) Missionary salesperson
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Hint Answer % Correct
The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. channel of distribution
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where a company aims to provide the best quality product in the market, and therefore charges more than its competitors. These companies are usually market leaders.product quality leadership
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the percentage of a market (defined in terms of either units or revenue) accounted for by a specific entity.market share maximization
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tries to make a unique product offering for each customer.customized marketing
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Is a market segmentation and market coverage strategy whereby a product is developed and marketed for a very well-defined, specific segment of the consumer population. concentrated marketing
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Wholesale or retain resale through more than one distribution channel, such as via dealers to smaller customers and direct to the large customers. developing dual distribution
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retail strategy that involves making a product or group of products available only in certain marketsselective distribution
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Transportation movement involving more than one mode, e.g. rail-motor, motor-air, or rail-waterintermodal transportation
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Firm specializing in arranging storage and shipping of merchandise on behalf of its shippers.freight forward
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A marketing strategy under which a company sells through as many outlets as possible, so that the consumers encounter the product virtually everywhere they go: supermarkets, drug sintensive distribution
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Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product exclusive distribution
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law : the principle that a person who buys something is responsible for making sure that it is in good condition, works properly, etc.caveat emptor
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a purchasing situation usually involving some degree of conscious information searching and analysis, as it involves moderately high priced goods which are not purchased too frequelimited problem solving
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a purchasing situation usually involving a great deal of time and conscious information searching and analysis, as it involves high-priced goods which are purchased very infrequentextended problem solving
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sharing of costs for locally placed advertising between a retailer or wholesaler and a manufacturercooperative advertising
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A marketing strategy typically consisting of brief messages sent with the objective of reminding a target consumer group about a product or service or of introducing a new theme inreminder advertising
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advertisement in which a particular product, or service, specifically mentions a competitor by name for the express purpose of showing why the competitor is inferior to the productcomparison advertising
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Fees paid by manufacturer for retailer spacing of productsslotting allowance
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Individual or firm (such as an agent, distributor, wholesaler, retailer) that links producers to other intermediaries or the ultimate buyer. primary intermediary
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the individual or organization responsible for managing a particular distribution channel and overseeing channel partnershipschannel captain
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