MARKETING DECA vocab

Advergame

An electronic or online game that incorporates marketing content to promote a product or service.

Advertising

A paid form of communication delivered by a product maker or seller to consumers.

Art-house movies

Movies whose subjects are outside the mainstream.

Behavioral-based segmentation

Market segmentation that focuses on the customer's attitude toward products and services.

Behavioral-based segmentation

Market segmentation that focuses on the customer's attitude toward products and services.

Broadcast Flags

digital bits imbedded in digital programming to prevent programs from being recorded and redistributed.

Broadcast webs

groups (called affiliations) of television networks, production studios, and related entertainment businesses that produce shows or provide services for other members in the group,

Character Development

stages in which people advance from childish behavior to mature and responsible behavior based on principles

Click-Through rate

measures the effectiveness of an internet ad by dividing the number of times an ad is clicked on by the number of times an ad is shown

Concentration strategy

in scheduling advertising, buying space in or time on a single medium.

Consumer sales promotion

a sales promotion directed at the final conusmer

Consumers

individuals who purchase products to satisfy their needs and wants

Cookie

a small data file that is placed on the hard drive of a web sited visitor that collects and reports data on the visitor

Copy

the words to be spoken or printed in the advertisement.

Copyright laws

protect the unique work of the originator within the geographic boundaries to which the laws apply

Customizing

changing a product to fit the needs or wants of a particular market

Demographic segmentation

market segmentation that focuses on information that can be measured, such as age, income,profession, gender, education, marital status, and size of household

Domestic Visitors

U.S. tourists

Dominance strategy

in scheduling advertising, a firm buys the maximum reach and frequency in on medium and purchases additional space in or time on other media

Economic market

all of the consumers who will purchase a product or service

Economics

the study of how goods and services are produced, distributed, and consumed

Economic utility

the amount of satisfaction a person receives from the consumption of a particular product or service

Emotional purchases

purchases made with little though during emotional highs or lows

Engaged customers

repeat customers who are completely loyal to the company's products and services

Entertainment

whatever people are willing to spend their money and spare time viewing rather than participating in

Entertainment marketing

influencing how people choose to spend their time and money on entertainment

Equilibrium

the point where the supply and demand curves intersect. (Willing to pay vs Demand)

Ethics

a system of deciding what is right or wrong in a reasoned and impartial manner

Expansion

the upside of the business cycle during which there is a growing demand for goods and services

E-Zines

Web magazines that focus on a sport

File-sharing

making files available for others to download

Franchise

in broadcasting, authorization cable service providers need from local governmental agencies to sell their services in a given area

Frequency

the number of times the targeted customer is exposed to the media

Geographic Pricing

pricing policy that allows pricing variations based upon geographic location

Geographic segmentation

divides markets into physical locations, such as Eastern, Northern, Southern, and Western regions of the U.S. or the urban and rural areas of a state

Goodwill

customers' positive feelings about the business

Gross impression

the number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer

Group packages

special ticket prices offered to members of a group when tickets are purchased in large quantities, such as 15 or more

Hierarchy of needs

Five areas of human needs identified by Abraham Maslow, including physiological needs, security, social needs, self-esteem needs, and self-actualization

High Season

season of the year during which demand for a product is the greatest

Impromptu

Spontaneous and changing entertainment based on audience reactions

Intellectual property

the unique works of writers, artists, and musicians that can be protected under copyright law

Interpretation

explaining the information so that it has meaning and drawing conclusions that relate to the defined marketing research problem

Jargon

Language that relates to a specific area and that makes communication more concise

Law of Demand

inverse relationship between the price of a product and consumer demand for it- when the price goes up and demand goes down, and when the price goes down and demand goes up

Leads

names of prospective customers who have shown interest in the product or service and or meet the definition of the target market

Licensed brand

a well-known name and or symbol established by one company and sold for use by another company to promote its products

Literary Agent

person an author hires who, for a percentage of the book sales, plans the marketing campaign and personal appearances

Loss-Leader Pricing

the willingness to take a loss on the reduced prices of selected items in order to create more customer traffic

Macroeconomics

the study of the economics of the entire society (the big picture)

Marginal Analysis

a technique of setting the advertising budget by estimating the point at which an additional dollar spent on advertising equals additional profit

Marketing

the creation and maintenance of satisfying exchange relationships

Marketing Concept

a business keeps the focus of satisfying customer needs

Marketing-information management

gathering and using information and customers to improve business decision marketing

Marketing intelligence

information gathered about competitors

Marketing manager

the person who drives the creative development of the company's messages about its products to its target customers

Marketing Mix

describes how a business blends the four marketing elements of product, distribution, price and promotion

Marketing plan

a precisely written document that describes the tactics and strategies that will be used to market the product or service

Marketing research

research conducted to gather data and identify solutions to marketing problems; a problem-solving tool that helps focus decision making

Marketing price

price determined by the laws of supply and demand

Market research

information is gathered that is very specifically focused on a single target market

Market researchers

People who conduct surveys to gather information about sports trends and statistics for teams, sports associations, sports retailers, and manufactures

Market Segment

a group of consumers within a larger market who share one or more characteristics

Market share

the percentage of total sales of a product or service that company expects to capture in relations to its competitors (Pie chart)

Mass market

Broad group of customers

Mass Media

a term used to describe a means of distributing an event to a large volume of people. including radio, television, and the internet

Media strategy

choosing the media that will bring the most effective advertising message to the targeted consumer

Microeconomics

the study of relationships between individual consumers and producers

MP3

a digital audio encoding and compression format designed to greatly reduce the amount of data required to represent audio; stands for MPEG-1 Audio Layer 3

Multiple-unit pricing

customers receive a financial benefit for buying the larger quantity

Natural Risk

weather conditions that cannot be avoided such a tornadoes, blizzards, hurricanes, floods, droughts, and ice storms

Networking

associating with other professionals for the benefit of sharing best practices, professional development, and friendship

Occupational outlook handbook

publication of the U.S. Bureau of Labor Statistics that provides an overview of different marketing-related jobs

Odd-even pricing

pricing policy by which prices ending in $.98 or $.99 give customers the illusion of spending less than the next higher dollar amount

Off Season

season of the year during which demand for a product is the lowest

Penetration price strategy

uses low pricing to help capture a large market share early

Percent of sales budgeting method

directs a percentage of expected sales revenues to the advertising budget

Piracy

theft of copyrighted material; unauthorized copying

Place utility

ensures that the product or service is available where the consumer wants it

Platforms

types of delivery systems for sports and entertainment

Podcast

a way of distributing multimedia files over the Internet for playback on computers, iPods, cell phones and other mobile devices

Polls

surveys of peoples opinions

Possession Utility

results from making the product or service available at an affordable price

Preapproach

sales process step during which the salesperson learns everything possible about the products and services offered, the target market, and the competition

Prestige Pricing

Pricing policy whereby retailers charge higher-than-average prices for merchandise and target customers seeking status and high quality

Price

The amount that customers pay for products and services

Price discrimination

one individual, group, or business is charged a higher price than others purchasing the same product or service

Price fixing

related business conspire to charge high prices

Price lines

distinct categories of merchandise based upon price, quality, and features

Price points

the range of prices charged for a category of merchandise

Pricing

the process of establishing and communicating to customers the value or cost of goods and services

Primary data

data obtained for the first time to advertise on television because and personal life

Primetime

the most expensive time to advertise on television because the largest number of viewers are watch

Product line

a group of similar products with slight variations to satisfy the different needs of consumers

Product Placement

a product is integrated into the plot of a movie or television show

Product usage

reflects what products you use and how often

Product/service management

Designing, developing, maintaining, improving, and acquiring products or services for the purpose of meeting customer needs and wants

Promotion

ways to make customers aware of products and encourage them to buy; using advertising and other forms of communication to distribute information about products, services, images, and ideas to achieve a desired outcome; the process of making customers aware of a product, service, or event

Promotional mix

the blending of the promotional elements of advertising, sales promotion, publicity, and personal selling

Promotional Plan

a written detailed description of how the four elements of promotion will be used- advertising, sales promotion, publicity, and personal selling