Chapter 4: Marketers & Media – Flashcards
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ACV
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All Category Value.
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Added value(s)
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intangible attributes of a brand beyond function.
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ADI (Area of Dominant Influence)
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marketing territory determined by a combination of geography and media coverage.
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Advertising
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paid communication in mass media by an identified sponsor, designed to inform and persuade
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Agricultural marketing
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the marketing process finely tuned to matters as diverse as pork bellies and crop hybrids
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Attributes
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an inherent characteristic of a product, either physical, such as what the product is made of, or perceptual, such as the way the product is thought of by the consumer
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A to S Ratio
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Advertising to Sales Ratio. Measurement used to for both budgeting and comparison with competition
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BDI
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Brand Development Index - calculated index of the percentage of a brand's total sales that occur in a given market, as compared to the percentage of the total population of the market
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Benefits
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Positive results that come directly or indirectly from a product based upon its attribute, features, and functions, both real and perceived
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Brand
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the unique name or symbol used to identify a product or service in order to distinguish it from the competition.
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Brand assistant
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support staff position within the brand group, usually reporting to the brand manager
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Brand equity
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the collection of product attributes that results from accrued added values for a brand over time
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Brand group
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management and support staff, sometimes including research and sales promotion personnel, assigned to a particular product brand.
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Brand Manager
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the individual in an organization responsible for decision-making surrounding the planning, developing, implementing, and controlling the marketing of a brand. Sometimes called "product manager."
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Business to Business
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the marketing of products or services between companies, rather than from a company to an individual as the ultimate consumer.
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Category Manager
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marketing executive who works for a multi-brand marketer, responsible for a particular product category. These responsibilities may cover a number of brands, products, or services.
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Cause marketing
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advertising and "selling" charities, public and community service groups, and other "issues" oriented organizations
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CEO (Chief Executive Officer)
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top management officer responsible for overall "big picture" performance of a company.
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CFO (Chief Financial Officer)
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managerial position responsible for financial affairs within the company
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CIO (Chief Information Officer)
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managing officer charged with directing data-collection and processing systems within the company
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CMO (Chief Marketing Officer)
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managing officer with responsibility for a company's marketing function
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Convergence
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Trend and tendency of technologies and business categories to merge, duplicate, compete, and overlap. For example, convergence in the financial category, banks, brokerage firms, insurance companies, and your credit card are all converging with overlapping and competitive financial services
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COO (Chief Operating Officer)
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managing officer with ongoing responsibility for company operations. Reports to CEO and Board of Directors
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Direct Mail
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form of advertising sent to prospects through the US Postal Service, or some other mail service.
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Direct sales
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personal presentation, demonstration, and sale of products and services to consumers, usually in their homes or place of employment
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Durable goods
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products with a long life span, like automobiles and televisions, which are purchased infrequently, and do not require frequent replacement. These are usually major cash expenditures or credit charges, and because of the long life span do not create a short turn-around cycle.
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Entertainment marketing
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the promotion and sale of products as diverse as spectator sports, music concerts, and movies.
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Field marketing
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marketing executed at a local level, i.e. "in the field."
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Financial services marketing
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the competetive provision of monetary services by banks, brokers, insurers, and others to consumers in the marketplace
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Functional superiority
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an actual, inherent advantage of a product or service as compared to another product within the same category
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Hospitality marketing
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marketing of travel, lodging, convention, and catering services.
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Hyper-competition
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over-saturation of a particular market with too many products and not enough room for product marketers to compete for market share
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Line extension
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the strategy of applying an existing brand name to another product in the same category, usually with the objective of increasing total category sales.
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Margin
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the difference between the cost of the seller's goods and the price of the product paid by the ultimate consumer. See also gross margin and net margin
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Market segmentation
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the division of a market into distinct groups with common needs that respond similarly to marketing actions
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Marketers
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Those who manufacture and/or provide goods and services
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Marketing
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the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges to the mutual advantage of consumers and manufactures of a product or service.
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Marketing budget
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the discretionary funds utilized in implementing the overall marketing strategy.
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Marketing plan
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written document describing the overall strategy developed to market (or promote?) a particular brand, organization, or product
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Market research
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the systematic gathering, development, and analysis of new information used in marketing and advertising decisions
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Media
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vehicles for the wide-spread, non-personal communication of advertising to the public, whether by broadcast, print, computer, cable, or outdoor advertising.
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Milking
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the practice of continuing to sell a product in reliance on lingering effects of previous advertising long after advertising and other promotion support has been either discontinued or reduced substantially. The marketer "milks" the remaining profit and value from the brand
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Net margin
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the calculation of margin that factors into the equation the cost of added value of the product provided by the seller
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OOS (Out of Stock)
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lack of availability of a product at the retail level, whether through manufacture, transportation, or labor problems, or because the product is not in demand by consumers
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Packaged goods
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products consumed, usually repeatedly, in a fairly short period of time creating a cycle of need, purchase, use, need. There is always a new market for them
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Packaging
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the physical appearance and characteristics of a product's container or wrapping.
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People
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One of the "Five Ps of Marketing." People refers to the brands target consumer group
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Place
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One of the "Five Ps of Marketing." Place refers to the distribution of the brand
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Positioning
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1. Marketing communication approach that focuses on where the product resides (or could reside) within the mind of the consumer. 2. Marketing which looks at the relative place of a brand in relationship to the competitive environment. 3. The relationship between the perceptual attributes and benefits of a product and the primary target's lifestyle
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Price
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One of the "Five Ps of Marketing." Price refers not only to the price of the product, but the margins available to fund brand activities and still deliver a profit
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Primary Target
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the consumer, the person who purchases or uses the product or service
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Product
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One of the "Five Ps of Marketing." Product refers to the brand itself - the product or service provided and the benefits that product or service delivers
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Promotion
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One of the "Five Ps of Marketing." Promotion refers to the set of activities designed to advance goods and services in the marketplace. Promotion includes advertising and sales promotion as well as other marketing communications activities.
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Physical distribution
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A set of activities and organizations that deliver product from maker to consumer
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Public relations
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communication concerned with promoting the public's conception of issues, products, organizations and companies, and personalities.
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Publicity
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attempts to receive favorable media coverage of a product, service, organization, or person. Typically this is achieved by use of media through press releases, press conferences, product literature, pamphlets or materials, celebrity appearances, or sponsored events.
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Retail marketing
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the sale of a product directly from a store set-up for that purpose to the ultimate consumer
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Sales Promotion
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the use of an incentive to encourage purchase of a product making use of price reductions, such as coupons or value added offers, such as "two-fers." These may be provided to sales force, distributors, or the ultimate consumer to stimulate immediate sales
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Secondary Target
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a retail channel or sales force (distinguish from Primary Target)
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Services
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the provision of time, advice, space, care, information, or other intangible such as hotel lodging, insurance, or health care, as distinguished from tangible products.
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Share (of market)
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the percentage of the market "owned" by your brand. This information is usually provided by some syndicated research service, such as Nielsen or IRI.
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Share of voice
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the percentage of media weight that a brand has relative to the media spending of all competitive brands in that category.
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Slotting allowance
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a fee charged by retailers for placement of a manufacture's product on retail shelves
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SKU (Store Keeping Unit)
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the measurement of product based upon packaging by size or count, usually at difference prices
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Strategy
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a cohesive plan for directing a course of action; a guide for decision-making designed to bring about a certain (hopefully favorable) outcome
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Tactics
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specific marketing actions
