Marketing Exam Review ready

Marketing Exam Review ready - REVIEW SHEET MAR2011 Business...

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REVIEW SHEET – MAR2011 Business format franchisors- ongoing business relationship between a franchisor and franchisee. Competitive advantage- one or more unique aspects of a company, giving them advantage over competition. Corporate blog- blogs that are sponsored by a company or one of its brands and maintained by employees. Data warehouse- a central repository for data from various areas in a company, that can be shared companywide Database- a collection of data, especially one that can be accessed and manipulated by computer software Discontinuous innovation- products that create an entirely new market (a.k.a New To The World) Frequent buyer program- reward loyal customers for making multiple purchases. Growth stage of the product life cycle- the product advertising changes from educational to competitive with other brands, as the product reaches its peak in popularity, distribution becomes important as ever. Introductory stage of the product life cycle- advertising focused on educating consumers on product advantages, not much money is spent of advertising, products are loosing money and there is a high failure rate. Laggard- last group (16%) to adopt a product, low-income, skeptics, rely on word of mouth (VHS in 2009) Leader pricing- selling items at/below cost to encourage shoppers to shop there and buy other items black Friday Loyalty marketing- similar to frequent buyer programs, encourages customers with reward to shop there. Market share- is a company’s product sales as a percentage of total sales for that industry. Markup pricing -basing item pricing from percentage of profit desired on return (20% markup on $1.00 is $1.20) Mass communication- using TV or radio to broadcast a message to a large group at once. Multiple distribution
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This note was uploaded on 05/12/2010 for the course MAR 1010 taught by Professor Styles during the Spring '10 term at Valencia.

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Marketing Exam Review ready - REVIEW SHEET MAR2011 Business...

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