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MAR3023 Basic Marketing
flashcards for exam 1
80
Marketing
Undergraduate 3
01/28/2011

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Cards

Term
If a brand is massive, how much force does it need?
Definition
The more massive a brand, the more force it needs to change/reposition it.
Term
Instead of measuring what consumers SAY they do what should you measure?
Definition
You should measure what consumers ACTUALLY do.
Term
True or False: No matter how much you invest, one mistake can undermine the whole brand.
Definition
True
Term
If your brand is dispersed, what should you do?
Definition
You shouldn't fight it, but instead accept it and work with it.
Term
What is Brand equity?
Definition
The value in a brand name
Term
What is AMA and what is their definition of marketing?
Definition
AMERICAN MARKETING ASSOCIATION. They define marketing as performance of business activities that direct the flow of goods and services from producer to consumer or user.
Term
What are the 4 P's?
Definition
Product
Promotion
Price
Place
Term
Macro Marketing
Definition
Social process directing and economy's flow of goods/services from producer to consumer in ways that match supply and demand and accomplishes society's objectives.
Term
What is required to perform micro marketing?
Definition
Infrastructure
Term
What does critic say about marketing?
Definition
It is 3/4- 9/10 its idle waste.
Term
What does Kotler say about Marketing?
Definition
It is a human activity
Term
Micro Marketing
Definition
Performance of activities that seek to accomplish an organization's objectives by anticipating customer needs and directing a flow of need-satisfying goods/services from producer to consumer.
Term
What are some Marketing activities
Definition
The 4 P's.
Demand Analysis
Strategic Planning
Competitive Analysis
Environmental Analysis
Setting Objectives/Goals
Monitor Success
Marketing Research
Marketing Information System
Buying
Term
What is Demand analysis?
Definition
Involves the number of people/characteristics. It is buyer behavior and needs or desires.
Term
What is Environmental Analysis?
Definition
Involves political, legal, technological and culture.
Term
Why is monitoring success important?
Definition
It is a control mechanism
Term
What do Products involve?
Definition
Product Development
Product Line Decisions
Branding/Trademark
Packaging
Term
What does Product Line decisions encompass?
Definition
The breadth
The width
The deletion
Term
What does Promoting involve?
Definition
Advertising
Personal Selling
Sales Promotion
Publicity
Term
What encompasses advertising?
Definition
Copy
Media Mix
Media Selection
Scheduling
Budget
Term
What encompasses Selling?
Definition
Selection
Training
Motivation
Compensation
Term
What does Distribution involve?
Definition
The degree of distribution
The type of Distributor
The type of service
The type of image
The location of distributions
Inventory levels
Product placement
Shelf facings
Term
What does Price involve?
Definition
The price to ultimate consumer
The rice to the middlemen
Product Line Pricing
Flexibility
Discounts/Allowances
Geographic terms
Term
What makes up the Marketing Plan?
Definition
Marketing budget
Marketing Objectives
Target Market
Marketing activities
Time frame
Expected results
control mechanisms
Term
What should be the first consideration in the marketing plan but isn't?
Definition
Marketing Objectives
Term
What actually is the first consideration in Marketing Plans?
Definition
The marketing budget
Term
Who makes up the Intermediaries?
Definition
Wholesalers
Retailers
Financial Organizations
Media
Advertising agencies
Telecommunication companies
Computer companies
Market research companies
Term
What does the Generic view of marketing made up of?
Definition
S.U [Social Units.]
They are made up of 2 or more s.u's
Term
What are the s.u's trying to do?
Definition
Trying to facilitate an exchange.
Try to maximize the probability that the exchange/influence has taken place
Term
What are the criticisms of Marketing?
Definition
Dangerous because creates artificial demand
Responsible for unsafe products
Planned obsolescence
Easy credit [though not so much anymore]
Deceptive/annoying advertising
Increase cost of products
Pollution
Scarce resources
Term
What are the benefits of marketing?
Definition
Increased information
Increased choice
Standard of living
Improved products
Convenience
Term
What is the philosophy of the marketing concept?
Definition
It is the philosophy of doing business
Term
What does Marketing concept have
Definition
Consumer focus, goal orientation, marketing strategy

A consumer focus-in business BECAUSE of consumer. this doesn't mean you make decisions based on what consumer says but you keep the consumer in mind [which is key]

Goal Orientation- Need to achieve goals. Coul be profits, etc.

Integrated, comprehensive markeitng strategy
Term
What are the Marketing typologies?
Definition
Marketer
Product
Target Market
Term
What does the marketer typology include?
Definition
Was business, but now also
Social organizations
cultural organizations
political organizations
knowledge organizations
religious organizations
individual
Term
What does the Product Typology include?
Definition
It was first only durables, non-durables [consume quickly]and service.
now also includes
person
place
ideas
Term
What does the target market typology include?
Definition
First was consumers, government, industry, international.
Now also includes
suppliers
stockholders
board of directors
employees
unions
special interest group
general public
Term
What are the environmental forces?
Definition
Economic
Competitive
Political
Technological
Sociocultural
Legal and Regulatory
Term
What is Cross-cultural analysis?
Definition
An evaluation of cultures across regions.
Term
What does cross cultural analysis involve?
Definition
Involves
market research
values
customs of country
cultural symbols
currency exchange rate
Term
What is involved in the Global Marketing Strategy?
Definition
Licensing
Joint Venture
Exporting
Direct Investment
Term
What is licensing
Definition
gives you the right to sell
Term
what is involved in franchising
Definition
contracts are involved
Term
What is dumping?
Definition
Pricing below the cost
Term
Back translating can avoid what?
Definition
It can avoid awkward foreign translations
Term
What is looking at exchange rates an example of?
Definition
Economic forces
Term
Colgate tooth powder is what type of force?
Definition
Sociocultural force
Term
True or false:
Legal and regulatory forces do not inhibit company success
Definition
True
Term
When should environmental scanning be done?
Definition
Environmental scanning should be done periodically and when entering a new market.
Term
Traditionally, when was marketing seen as appropriate?
Definition
It was seen as appropriate when Supple was greater than demand
Term
What occurs when supply is greater than demand or demand is negative?
Definition
Disabuse demand
Term
What is the most difficult market?
Definition
One with negative demand
Term
What is the market challenge for disabuse demand?
Definition
The market challenge is to change people's opinion.
Term
What should you do in a disabuse demand market?
Definition
You should employ conversional marketing to alter people's perception of the product or service
Term
What is common in a new business in terms of demand?
Definition
To have no demand
Term
What should you try to do when you have no demand?
Definition
You should try to create demand
Term
What type of marketing is used to create demand?
Definition
To stimulate or create demand you need to use stimulational marketing
Term
What is latent demand
Definition
A subconscious demand that is recognized once something triggers it
Term
What do you want to do, demand wise, when you have Latent demand?
Definition
You want to develop demand
Term
What type of marketing develops demand?
Definition
Developmental marketing
Term
What is the second most difficult market?
Definition
Faltering market
Term
What is the question involved with faltering markets?
Definition
The question of how to turn it back around
Term
What should you do in a Faltering market?
Definition
Ultimately revitalize demand and
Cut back on Promotion
Decrease price
Cut distribution
Term
What is the second most difficult market?
Definition
One with a faltering demand
Term
In a faltering market, you need to revitalize demand by what type of marketing?
Definition
By re-marketing
Term
what is an example of faltering demand?
Definition
coffee
Term
What is done in with overfull demand?
Definition
De-marketing
Term
Why is de-marketing done?
Definition
To reduce demand
Term
What is overfull generally?
Definition
When demand is greater than supply
Term
what is an example of overfull demand
Definition
Snack wells
State of Oregon
Term
When demand is greater than supply what could the two demands be?
Definition
Unwholesome demand
overfull demand
Term
What is unwholesome demand?
Definition
The demand for illegal or immoral products
Term
What do marketers want to do with unwholesome demand?
Definition
They want to destroy the demand
Term
How do marketers destroy the demand in unwholesome demand?
Definition
They counter market with the use of organizations or law enforcement
Term
When supple always equals demand, what type of demand is it?
Definition
Full Demand
Term
What type of marketing is done with full demand?
Definition
Maintenance marketing
Term
What does maintenance marketing do?
Definition
It maintains the demand
Term
What type of demand is equal at times or over a period of time but not ALL the time?
Definition
Irregular demand
Term
What needs to be done with Irregular demand?
Definition
demand needs to be synchronized
Term
What type of market synchronizes demand?
Definition
Synchromarketing
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