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98 True/False questions

  1. brand namea word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

          

  2. corporate distribution systema distribution system in which members are bound to cooperate through contract agreements

          

  3. high-low pricing strategysetting prices that are higher than everyday low prices stores, but having many special sales where the prices are lower than competitors'

          

  4. supply chaingrouping two or more products together and pricing them as a unit

          

  5. marketing intermediariesthe analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions

          

  6. target costingdesigning a product so that it satisfies customers and meets the profit margins desired by the firm

          

  7. product linethe combination of product lines offered by a manufacturer

          

  8. cash-and-carry wholesalerswholesalers that serve mostly smaller retailers with a limited assortment of products

          

  9. product analysisthe combination of product lines offered by a manufacturer

          

  10. marketing researchthe ingredients that go into a marketing program: product, price, place, and promotion

          

  11. secondary datainformation that has already been complied by others and published in journals and books or made available online

          

  12. manufacturers' brand namesthe brand names of manufacturers that distribute products nationally

          

  13. variable costscosts that change according to the level of production

          

  14. skimming price strategystrategy in which a new product is priced high to make optimum profit while there's little competition

          

  15. competition-based pricingpricing goods and services at price points that make the product appear less expensive than it is

          

  16. commercializationpromoting a product to distributors and retailers to get wide distribution, and developing strong advertising and sales campaigns to generate and maintain interest in the product among distributors and consumers

          

  17. knockoff brandsillegal copies of national brand-name goods

          

  18. service utilityadding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time

          

  19. volume segmentationdividing a market by cities, counties, states, or regions

          

  20. primary datadata that you gather yourself

          

  21. marketingthe activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have a value for customers, clients, partners, and society at large

          

  22. supply chain managementmaking cost estimates and sales forecasts to get a feeling for profitability of new-product costs

          

  23. product life cyclea theoretical model of what happens to sales and profits for a product class over time; the four stages of the cycle are introduction, growth, maturity, and decline

          

  24. penetration strategystrategy in which a product is priced low to attract as many customers and discourage competition

          

  25. exclusive distributiona whole set of marketing intermediaries such as agents, brokers, wholesalers, and retailers, that join together to transport and store goods in their path from producers to consumers

          

  26. target marketingmarketing directed toward those groups an organization decides it can serve profitably

          

  27. market segmentationdividing the market by usage

          

  28. brand equitythe value of the brand name associated symbols

          

  29. utilityadding value to products by making them available when they're needed

          

  30. break-even analysiswholesalers that furnish racks or shelves full of merchandise to retailers, display products, and sell on consignment

          

  31. telemarketingthe sale of goods and services by telephone

          

  32. generic goodsnonbranded products that usually sell at a sizable discount compared to national or private-label brands

          

  33. logisticsthe marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of consumption to meet customer requirements at a profit

          

  34. branda word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

          

  35. marketing mixthe analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions

          

  36. inbound logisticsthe area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers

          

  37. place utilityadding value to products by having them where people want them

          

  38. contracted distribution systema distribution system in which members are bound to cooperate through contract agreements

          

  39. brand loyaltythe value of the brand name associated symbols

          

  40. specialty goods and servicesconsumer products with unique characteristics and brand identity. The consumer puts forth a special effort to purchase them

          

  41. information utilityin economics, the want-satisfying ability, or value, that organizations add to goods and services

          

  42. psychographic segmentationdividing the market using the group's values, attitudes, and interests

          

  43. trademarka brand that has exclusive legal protection for both its brand name and its design

          

  44. geographic segmentationdividing the market by age, income, and education level

          

  45. test marketingthe sale of goods and services by telephone

          

  46. product screeninga process designed to reduce the number of new product ideas being worked on at any one time

          

  47. total fixed costsall the expenses that remain the same no matter how many products are made or sold

          

  48. outbound logisticsthe area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers

          

  49. valuea name, symbol, or design that identifies the goods or services of one seller or group of sellers and distinguishes them from the goods and services of competitors

          

  50. promotionany physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand

          

  51. retailerin economics, the want-satisfying ability, or value, that organizations add to goods and services

          

  52. selective distributiondistribution that sends products to only one retail outlet in a given geographic area

          

  53. price leadershipthe strategy by which one or more dominant firms set the pricing practices that all competitors in an industry follow

          

  54. drop shipperswholesalers that solicit orders from retailers and have orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer

          

  55. reverse logisticsthe area of logistics that involves bringing goods back to the manufacturer because of defects or for recycling materials

          

  56. product differentiationa process designed to reduce the number of new product ideas being worked on at any one time

          

  57. dealer (private-label) brandsselling goods and services to ultimate customers over the internet

          

  58. brand awarenesshow quickly or easily a given brand name comes to mind when a product category is mentioned

          

  59. unsought goods and servicesproducts that consumers are unaware of, haven't necessarily thought of buying, or find they need to solve an unexpected problem

          

  60. demographic segmentationdividing the market using the group's values, attitudes, and interests

          

  61. intermodal shippingthe use of multiple modes of transportation to complete a single long-distance movement of freight.

          

  62. merchant wholesalersindependently owned firms that take title to the goods they handle

          

  63. materials handlingthe movement of goods within a warehouse, from warehouses to the factory floor, and from the factory floor to various workstations

          

  64. direct marketingmarketing directed toward those groups an organization decides it can serve profitably

          

  65. business-to-business marketall the individuals and organizations that want goods and services to use in producing other goods and services to sell, rent, or supply goods to others

          

  66. focus groupthe marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of consumption to meet customer requirements at a profit

          

  67. product mixall the techniques sellers use to inform people about and motivate them to buy their products and services

          

  68. bundlinga word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

          

  69. mass marketingany activity that directly links manufacturers or intermediaries with the ultimate consumer

          

  70. brand associationa word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

          

  71. wholesaleran organization that sells to ultimate consumers

          

  72. consumer marketall the individuals or households that want goods and services for personal consumption or use

          

  73. relationship marketingmarketing strategy with the goal of keeping individual customers over time by offering them products that meet their requirements

          

  74. one-to-one marketingdeveloping a unique mix of goods and services for each individual customer

          

  75. electronic retailingadding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time

          

  76. total product offereverything that consumers evaluate when deciding whether to buy something; also called a value package

          

  77. customer relationship management (CRM)dividing the market by age, income, and education level

          

  78. psychological pricingpricing goods and services at price points that make the product appear less expensive than it is

          

  79. niche marketingthe activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have a value for customers, clients, partners, and society at large

          

  80. concept testingtaking a product idea to consumers to test their reactions

          

  81. brand managera word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

          

  82. productall the techniques sellers use to inform people about and motivate them to buy their products and services

          

  83. convenience goods and servicesproducts that consumers are unaware of, haven't necessarily thought of buying, or find they need to solve an unexpected problem

          

  84. marketing concepta three-part business philosophy: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation

          

  85. everyday low pricingsetting prices lower than competitors and then not having any special sales

          

  86. administrated distribution systema distribution system in which producers manage all of the marketing functions at the retail level

          

  87. direct sellingselling to consumers in their homes or where they work

          

  88. industrial goodsproducts used in the production of other products.

          

  89. channel of distributiona whole set of marketing intermediaries such as agents, brokers, wholesalers, and retailers, that join together to transport and store goods in their path from producers to consumers

          

  90. environmental scanningthe process of identifying the factors that can affect marketing success

          

  91. possession utilityadding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time

          

  92. freight forwarderan organization that puts many small shipments together to create a single large shipments that can be transported cost-effectively to the final destination

          

  93. benefit segmentationthe process of dividing the total market into groups whose members have similar characteristics

          

  94. shopping goods and servicesconsumer products with unique characteristics and brand identity. The consumer puts forth a special effort to purchase them

          

  95. time utilityselling to consumers in their homes or where they work

          

  96. agents/brokersmarketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take title to the goods

          

  97. intensive distributiondistribution that puts products into as many retail outlets as possible

          

  98. rack jobbersa word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors