| A | B |
|---|
| What is Marketing? | Creation and Maintenance of satisfying exchange of goods! |
| Product And Service Management | "DDIM" = It is to Design, Develop, Improve and Maintain! |
| Distribution | Getting a product or service to the consumer! |
| Selling | Direct and personal communication, and making improvements! |
| Marketing-Information Management | Determining wants and needs, and collecting the info by Surveys, Focus Groups, Tracking Purchases! |
| Financing | Budgeting for marketing activities, also Customer assistance in paying for products |
| Pricing | Establishing price based on perceived value |
| Promotion | Communicating information , ex : Direct Mail, Bill Boards, Radio, Tv |
| What is Target Marketing? | Refers to people with certain characteristics ; Towards the people you are marketing your product/service for |
| What is Market Segmentation? | Looking for groups of comsumers and there common needs! |
| How do you do Segmentation? | You look for the "DPPPG". Demographics, Product Usage, Physcographic, Percieved Benefits, and Geogrphics! |
| What is in the Demographics? | Age, Gender, Occupation, Income |
| What is in the Product Usage? | What products are used & how often and why? |
| What is in the Physcographics? | Personality Traits and lifestyle! |
| What is in the Percieved Benefits? | What you recieved from using the product |
| What is in the Geographics? | Just where you live; Physical Location |
| Primary Research? | This is the research that is collected the first time, it is original and collected for a specific purpose or problem. |
| Ways to Collect Primary Research are ..? | Interviews (Telephone, Face to Face, Internet, and Mail) Mystery Shopping, Focus Groups, Product Testing, Diaries |
| What is Secondary Research? | Secondary Research is using research that already exists |
| Qualtitative Reasearch? | This is used when we do not know what to expect, and the definition is expLoratory, you can remember that because Qualtitative has an L and so does Exploratory. |
| Quantitative Research? | This is used when it tries to quantify the problem! It is coNclusive in its purpose as it trie to quantify the problem. You cant remember that Quantitative is coNclusive because of the N. |
| Margin? | Remember thats setting the bar! |
| Revenue? | Thats what you have! |
| Profit? | Thats what you made, and sometimes its going to be negative because you went into debt! |
| Promotional Spending? | Spending money on advertising! |
| Market Skimming Strategy | Inventing new products and setting higher prices on the items |
| Penetration pricing | Pricing something as the same price as there last item they came out with |
| Value Pricing | Depending on the value of the item, the item could be set higher or lower |
| Product Line Pricing | The greater the item than another item, it will be priced most likely higher |
| Bundle Pricing | Putting things together and having the items be sold together |
| Original Pricing | Taking a basic product and setting it lower |
| Pychological Pricing | Things priced at 19.99 or 4.99, or just set at that even-odd numbering |
| Premium Pricing | It shows a percentage! |
| Loss Leader | Pricing set lower than what it should be |
| Economy Pricing | Things set lower because of consumers needs |
| Price Elasticity | Is to see the price change from one thing to another |
