Marketing Basics
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Marketing Basics
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25 Questions

1. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country

2. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes

3. Relevant to including a customer type in a product market

4. Group of people within an organization who focus exclusively on the development of a new product

5. To try to increase the size of their target markets by combining two or more segments

6. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced

7. Tangible products we can see - touch - smell - hear - taste

8. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income

9. An aggregating process - clustering people with similar needs into a "market segment"

10. The process whereby a consumer searches for appropriate information needed to make a reasonable decision

11. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri

12. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location

13. Expensive goods that an organization uses in its daily operations that last for a long time

14. An internal state that drives us to satisfy needs by activating goal-oriented behavior

15. Discounts based on the total quantity bought within a specified time period

16. The value of a brand to an organization

17. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter

18. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures

19. Pricing products with a focus on a target level of profit growth or a desired net profit margin

20. Those that actually affect the customers purchase of specific product or brand in a product market

21. A marketing mix is tailored to fit some specific target customers

22. The process by which a consumer or business customer begins to buy and use a new good - service - or idea

23. Pricing products to maximize sales or to attain a desired level of sales or market share

24. The strategy of selling products at unreasonably low prices to drive competitors out of business

25. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix

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