Market Segmentation is?

Aggregating prospective buyers into segments

What is "earned media"?

Free publicity through unpaid media

What is a test market?

Marketers test their customers with different campaigns, A short-term campaign that tests the success of offers

A fictional character that represents a desired customer

What are social networks?

online websites for members to create a network of friends

What does psychographics tell us about potential customers?

Understanding attitudes, values, interests, opinions, etc.

What is market share?

Percentage of sales for a product, relative to entire sales

What is real-time marketing?

Brands make themselves relevant online during events

Psychographics tell us:

about a consumers' attitude to life, values, personalities

unsolicited electronic messages

What is a target market profile?

A description of the target market, Contains specific information about the target group

Potential customers who are able and willing to buy

Marketing process involves?

realizing profits, Identifying customer needs, Managing the marketing mix

all the product lines marketed by a company

What are "beliefs" in marketing?

consumer perception of how a product or brand performs

What is multi-channel marketing?

Blending different communication channels targeting customer

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Marketing 8060 - recap on terminology

20 termsStudBud Administration51 plays

Review of the theory and practice of marketing concepts.

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Questions 20

Answers

1
Market Segmentation is?
Identifying top customers
Aggregating prospective buyers into segments
Products that are purchased to run a business
Goods, services, ideas that a person can purchase
2
What is "earned media"?
Media time purchased
Media channels controlled by a company
Billboards
Free publicity through unpaid media
3
ROI stands for?
Research On Information
Return On Equity
Return On Investment
Rewarding Only Individuals
4
What is a test market?
Marketers test their customers with different campaigns
A test in marketing class
A short-term campaign that tests the success of offers
Positioning a product to a target group
5
What is a persona?
A branded product
It's a key public
Aggregate of prospective buyers
A fictional character that represents a desired customer
6
What is it called when you buy something and then regret it?
buyer's remorse
showrooming
cognitive dissonance
sadness
7
What are social networks?
sending messages on Facebook
online websites for members to create a network of friends
going to parties on campus
joining friends in the cafeteria
8
What does psychographics tell us about potential customers?
Understanding attitudes, values, interests, opinions, etc.
How/why consumers buy and use a product, e.g. benefits
Segmentation analytics
General data on the size and growth of markets
9
What can be marketed?
Secondhand furniture
Bikes, cars, computers and homes
Anything that can be sold to a customer
Goods, services and ideas
10
What is market share?
Everyone in marketing shares best ideas
Companies share the space with multiple products
Percentage of sales for a product, relative to entire sales
Splitting the market into shares
11
What does KPI stand for?
Key Performance Indicators
Key People Investing
Key Performance Measures
Kind and Passionate Individuals
12
What is real-time marketing?
Brands make themselves relevant online during events
Selling a product at a cheaper price
Offering a survey
Advertising at an event
13
Psychographics tell us:
about a consumers' attitude to life, values, personalities
why consumers buy
how to sell a product to a consumer
how marketing strategies can attract customers
14
What is spam?
unsolicited electronic messages
stores a text file in a computer's web browser
web-based program to track consumer shopping habits
emails with viruses
15
What is a target market profile?
A description of the target market
Contains specific information about the target group
These are the best customers
It's a persona
16
What is a market?
Potential customers who are able and willing to buy
Where marketers can advertise
Where you can buy fruits and vegetables
A target segment
17
Marketing process involves?
realizing profits
Identifying customer needs
Managing the marketing mix
Answering surveys
18
A product mix is:
all the product lines marketed by a company
a group of similar products
the number of different product lines
assortment of versions of each product
19
What are "beliefs" in marketing?
religious groups
a shopper's idea of a sale
tendency to respond to something in a good way
consumer perception of how a product or brand performs
20
What is multi-channel marketing?
Blending different communication channels targeting customer
A firm reaches buyers by using two/more different channels
Channels that use the internet to promote goods and services
Cross channel purchasing habits

Marketing 8060 - recap on terminology Flashcards | StudBud