stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Marketing - Unit 1 Review Flashcards | StudBud
Explore
/
Marketing - Unit 1 Review
Marketing - Unit 1 Review
50 terms
·
StudBud Administration
·
62 plays
A review of terms and concepts covered in Unit 1 of Marketing and Advertising.
Flashcards
50 cards
F
Practice quiz
P
Host live
L
Questions
50
Answers
1
Strategy employing existing market mix + more promotion on existing market segments.
Market Development
Product Development
Market Penetration
Diversification
2
In portfolio analysis, products with high relative share in a high-growth-rate market
Question Marks
Dogs
Cash Cows
Stars
3
In portfolio analysis, products with a low relative market share in a high-growth-rate market.
Dogs
Problem Children
Cash Cows
Question Marks
4
SWOT analysis assesses...
Strengths, Weaknesses, Opportunities and Threats
Signage, Warehouses, Opportunities and Threats
Strengths, Weaknesses, Opportunities and Things
Studies, Weaklings, Occupations and Threads
5
In portfolio analysis, products defined by lower share in slower-growth-rate markets.
Problem Children
Dogs
Question Marks
Stars
6
A group of consumers who respond similarly to a firm's marketing efforts.
Focus Group
Market Segment
Metrics Analysis
Product Lines
7
Products/items that can be physically touched.
PESTEL
Services
Value
Goods
8
% of a market accounted for by a specific entity.
Market Share
Relative Market Share
Portfolio Analysis
Market Growth Rate
9
Macro Strategy focusing on retaining customers and providing world-class service.
Value Proposition
Operational Excellence
Customer Excellence
Marketing Mix
10
Broad description of a firm's objectives and the scope of activities it plans to undertake.
Market Positioning
Mission Statement
Market Statement
Portfolio Statement
11
STP, part of identifying and evaluating opportunities in the planning process, stands for...
Strategized Training Programs
Segmentation, Targeting and Positioning
Synergy Testing Process
Strategic Testing Protocols
12
Groups of associated items consumers may think of as related/similar products.
Target Market
Product Lines
Market Share
Product Families
13
Process in which consumers sell to one another.
B2B
C2C
Marketing
B2C
14
Growth strategy employing existing marketing offerings to reach new market segments.
Market Development
Market Penetration
Diversification
Product Development
15
Evaluating related products together in determining how to allocate resources profitably.
Portfolio Analysis
Metrics Analysis
Proforma review
SBU
16
What a firm persistently does better than its competition.
Sustainable Competitive Advantage
Mission Statement
Market Share
Product Excellence
17
Defines mission and objectives of the business and evaluates the current market situation.
Implementation Phase
Planning Phase
PESTEL
Control Phase
18
Way to look at external factors in assessing Opportunities and Threats...
PESTEL
Control Phase
CDSTEP
PEST
19
Dividing markets into groups of consumers with different wants, needs or characteristics.
Marketing Mix
Market Segmentation
Market Penetration
Diversification Strategy
20
Growth strategy offering new products/services to a firm's current target markets.
Market Penetration
Diversification
Product Development
Market Development
21
Marketing to customers on the philosophy buyers and sellers should have long-term relationships
Product Lines
Relational Orientation
the 4 P's
Customer Excellence
22
Introducing new products/services to a new market not currently targeted by the company.
Diversification Strategy
Market Development Strategy
Product Development Strategy
Market Penetration Strategy
23
Defining 4 P's so customers have a clear understanding of the product compared to competition.
Market Positioning
BCG Matrix
Portfolio Analysis
Market Share
24
Use of the 4 P's to create value to the targeted audience.
Marketing Mix
Market Share
Portfolio Analysis
Metrics
25
Macro strategy to build competitive advantage through efficiency and great supplier relations.
Operational Excellence
Product Excellence
Locational Excellence
Relational Orientation
26
Evaluates opportunities through STP and implements the marketing mix through the 4 P's.
Implementation Phase
Situation Anlaysis
Planning Phase
Control Phase
27
Written document with analysis of current situation, objectives, strategy, programs & proformas
SWOT document
Marketing Mix
Marketing Plan
Planning Phase
28
Macro strategy for competitive advantage particularly critical for store-front retailers.
Profiteering
Operational Excellence
Segmentation
Locational Excellence
29
Trade of things of value between a buyer and seller so that each is better off as a result.
Metrics
Exchange
Value-based Marketing
Core Values
30
Measurements and analytics that quantify trends, dynamics and characteristics.
Matrix
Market Share
Marketing Mix
Metrics
31
2nd step in the marketing plan process. Uses SWOT to assess internal and external environment.
CDSTEP
PESTEL
Situation Analysis
STP
32
The relationship of benefits to costs, or what the consumer gets for what they give up.
STP
Metrics
CDSTEP
Value
33
The total market is $5 B. ABC Corp. has sales of $3 B. What is ABC's market share?
40%
53%
60%
72%
34
In portfolio analysis, products in a low-growth market that hold a high relative market share.
Question Marks
Dogs
Stars
Cash Cows
35
When a new product/business has something in common with the firm's current offerings.
Product Development Strategy
Market Development Strategy
Related Diversification
Unrelated Diversification
36
Process in which businesses sell to consumers.
C2C
B2C
B2B
Exchange
37
Everything a buyer gives up in exchange for a product, including money, time and energy.
STP
Price
Relational Orientation
Metrics
38
Identifying a firm's target market, marketing mix, & method of obtaining competitive advantage.
Marketing Strategy
Mission Statement
Planning Phase
Diversification Strategy
39
Processes that create value to customers and manage customer relationships for profit.
SWOT analysis
Marketing Mix
Marketing
B2B Value Building
40
Evaluating attractiveness of various market segments & deciding which to pursue with marketing.
Portfolio Analysis
Target Marketing
Positioning
Targeting
41
May serve as a proxy for how attractive a particular market my be for a firm to enter.
Market Metrics
Market Growth Rate
Marketing Mix
Market Position
42
Methodology of portfolio analysis using a matrix defined by growth rate & relative market share
Market Matrix
BCG Matrix
Diversification Matrix
Metrics Matrix
43
Macro strategy building advantage through producing product with high perceived value.
Locational Excellence
Product Excellence
Portfolio Analysis
Customer Excellence
44
Division of a firm that can be managed and operated independently and analyzed on its own.
Stratified Business Utility (SBU)
Market
Stars
Strategic Business Unit (SBU)
45
Strategies that focus on identifying and building loyalty among valued customers.
Marketing Plan
Operational Excellence
Locational Excellence
Customer Relationship Management
46
Selling merchandise from one business to another.
B2B
B2C
C2C
Relational Orientation
47
Evaluates performance vs. prescribed metrics and provides feedback to the planning process.
Control Phase
Implementation Phase
Mission Statement
STP
48
Company stated differentiation of the value it offers compared to the competition.
Product Excellence
Value Proposition
Core Values
Marketing Mix
49
% of a market captured compared to the largest firm in the market.
Market Segmentation
Market Share
Cash Cows
Relative Market Sare
50
Intangible "product" that involves performance that cannot be physically possessed.
Services
Goods
Exchange
C2C Marketing
