40046109
| Question | Answer |
| second step in new product development process is known as? | idea screening |
| the process of bringing new finished products and services into the market is? | commercialisation |
| which pricing methods involves simply adding a percentage to the cost to arrive at the price? | cost plus pricing |
| what is the first stage of adoption process? | awareness |
| revenue expected from the income is known as which pricing? | Target Return. (the pricing objective of target return pricing is to attain a certain return on investment) |
| what is the first product level in the customer value hireachy? | Core product |
| which PLC stage of the product has minimal awareness and acceptance? | Introduction |
| which goods are those which the customer never thinks of buying? | unsought goods |
| which pricing strategy refers to where the price of one product is tied to the price of another product? | captive pricing |
| paid form of Non Personal Communication of goods and services by an identified sponsor is know as? | Advertising |
| "Eat Fresh" is the tagline of which company? | subway |
| what is the full form of NPD | New Product Development |
| what is the full form of PLC | Product Life Cycle |
| goods that are known to produce for personal use are known as? | Consumer goods |
| goods that are used to produce for industrial use are known as? | Industrial goods |
| who are called as young, rich, risk takers and technically sound in the Adopters Category? | Innovators |
| A marketing strategy in which business uses a temporary campaign or offer to increase interest or demand in its product or service | sales promotion |
| pricing strategy is used to maximize profits by setting high prices initially | skimming pricing |
| pricing strategy that aims to quickly gain market share by offering low prices initially | penetration pricing |
| certificates that entitle customers to discount on goods and services | coupons |
| activities that are designed to get support for a product from manufacturers, wholesalers, and retailers | trade-in promotions |
| activities that help an organisation influence a target audience | public relations |
| an announcement that is sent by a business or organisation to media outlets. | news release |
| which decisions about advertising, personal selling, sales promotion and publicity are used to attract potential customers? | Promotion |
| marketing activities - other than advertising, public relations, and personal selling, that are used to stimulate purchasing and sales | sales promotion |
| it is a type of advertising directed to a targeted group of prospects and customers rather than to a mass audience | direct advertising |
| products earned or given away through contests, sweepstakes and rebates | incentives |
| combination of strategies and a cost effective allocation of resources? | promotional mix |
| term used for low cost items given to customers for discount or for free? | premiums |
| what is the term for a manufacturer using a mix of personal selling, advertising and buying discounts to promote a product to large retailers that sell its products? | pull policy |
| is cost a drawback or advantage of advertising? | drawback |
| one of the 4 p's that affect advertising and public relations | promotions |
| carefully planned combination of techniques designed to persuade customers to purchase and support a business's products is known as? | promotional mix |
| form of promotions is most expensive per customer? | personal selling |
| this is a game of chance that is used by businesses to get customers thinking and talking about what the company has to offer | sweepstakes |
| why is advertising considered a significant marketing tool? | because it communicates product benefits to target audience. |
| what is the primary purpose of sales promotion? | immediate increase in sales |
| <true or false> target market is a group of customers that have similar wants and needs. | true |
| <choose the correct option> a product can be- a) a service b) an idea or concept c) an object or thing d) all of the above | d) all of the above |
| what is the first step in developing a promotional mix? | identify the target market |
| stage which is also known as terminal stage where the sales of products and services begin to fall in the market | decline stage |
| when it is at the fourth product level of customer value hierarchy, marketers need to design what product that exceeds customer expectations? | augmented product |
| marketing of a product and service in which the offer itself is not intended to make any profit is called | non profit marketing |
| promotion decision involves? | Inform, Persuade, Influence |
| what are the 4 p's of marketing? | product, price, place, promotion |
| 4c's of marketing mix | customer solution, cost, convenience, communication |
| a reduction in price on purchase during a stated period of time is known as | discount |
| an established product which is bringing in revenue is a comment about which stage of Product Life Cycle? | Maturity |
| congratulations, | you did it! great job kid. |
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