Dimensions of Marketing Strategy – Flashcards
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Test Marketing
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A trial minilaunch of a product in limited areas that represent the potential market
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Commercialization
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The full introduction of a complete marketing strategy and the lunch of the product for commercial success.
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Consumer Products
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Products intended for households or family use
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Business Products
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Products that are used directly or indirectly in the operation or manufacturing processes of businesses.
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Product Line
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A group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations
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Product Mix
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All the products offered by an organization.
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Branding
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The Process of naming and identifying products.
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Trademark
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A brand that is registered with the U.S. Patent and trademark office and is thus legally protected from use by any other firm.
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Manufacturer Brands
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Brands initiated and owned by the manufacture to identify products from the point of production to the point of purchase.
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Private Distributor Brands
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Brands, which may cost less that manufacturer brands, that are owned and controlled by a wholesaler or retailer.
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Generic Products
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Products with no brand name that often come in simple packages and carry only their generic name.
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Packaging
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The external container that holds and describes the product.
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Labeling
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The presentation of important information on a package.
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Quality
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The degree to which a good, service, or idea meets the demands and requirements of customers.
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Price Skimming
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Charging the highest possible price that byers who want the product will pay.
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Penetration price
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A low price designed to help a product enter the market and gain market share rapidly.
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Psychological Pricing
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encouraging purchases based on emotional rather that rational responses to the price.
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Discounts
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Temporary price reductions often employed to boost sales.
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Marketing channel
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A group of organizations that moves products from their producer to customers; also called a channel of distribution
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Retailers
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Intermediaries who by products from manufacturers (or other intermediaries) and sell them to consumer for home and household use rather that for resale or for use in producing other products
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Wholesalers
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Intermediaries who buy from producers or from other wholesalers and sell to retailers.
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Intensive Distribution
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a form of market coverage whereby a product is made available in as many outlets as possible
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Selective Distribution
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a form of market coverage whereby only a small number of all available outlets are used to expose products
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Exclusive Distribution
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The awarding by a manufacturer to an intermediary of the sole right to sell a product in a defined geographic territory
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Physical Distribution
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All the activities necessary to move products from prouder to customers; inventory control, transportation, warehousing, and material handling
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Transportation
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the shipment to products to buyers.
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Warehousing
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The design and operation of facilities to receive, store and ship products.
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Material Handling
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The physical handling and movement of products in warehousing and transportation
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Integrated Marketing Communications
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coordinating the promotion mix elements and synchronizing promotion as a unified effort
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Advertising
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A paid form of nonperson communication transmitted through a mass medium, such s television, magazine advertisements, and online ands.
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Advertising campaign
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Designing a series of advertisements and placing them in various media to reach a particular target market
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Personal Selling
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Direct, two0-way communication with byers and potential buyers.
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Publicity
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Nonpersonal communication transmitted through the mass media but not paid for directly by the firm
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Sale Promotion
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Direct inducements offering added value or some other incentive for buyer to enter into an exchange
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Push Strategy
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An attempt to motivate intermediaries to push the product down to their customers
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Pull Strategy
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The use of promotion to create consumer demand for product so that consumers exert pressure on marketing channel members to make it available
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Promotional positioning
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The use of promotion to create an maintain an image of a product in buyer' minds
