Quarter 1 Marketing Test

Price, product, promotion, place, people

the 5 p’s

selling, risk management, financing, marketing research, purchasing

the other 5 functions

age, gender, income

demographics

local, regional, national, global

geographics

interests, activities, personality

psychographics

adds economic value

economic utility

modifying the physical attributes of a product

form utility

expanding where the product can be purchased

place utility

adding information for customers to know

information utility

all the different products a company has

product mix

group of products in a similar strain

product line

product item

the actual good

how many lines a company has

width

how many products in each line

depth

coming up with new ideas to make a product

idea generation

making a working model of the product

developing a prototype

develop the idea into a few good ones

screening

testing out the product on the market

test marketing

putting the product on the market

commercialization

refining and improving a product line

modifying a line

the line is obsolete

deleting a line

when the product first goes on the market

introduction stage

sales are increasing and the product is popular

growth stage

sales are successful but plateau

maturity stage

sales start to plummet

decline stage

the product is no longer being bought

obsolete stage

allows customers to easily identify a company

brand

what the company is called

brand name

an image that represents a company

brand mark

a character with human-like features to represent the brand

trade character

a logo with a cutout or space that completes the image

negative space logo

a feature or features of the company that are federally protected

trademark

brand owned by the manufacturer

manufacturer’s brand/national (coca-cola)

brand owned by the wholesaler/retailer

private brand (Walmart better goods)

improving/adding new products to a line

brand extension

allowing other companies to use the likeness of one company

brand licensing

combining two companies

co-branding

how many people know about the brand

awareness

how consumers view the brand

image

if people believe the product is worth the price

equity

if people keep buying from the brand

loyalty

strength, weakness, opportunity, threat

SWOT Analysis

what the product is sold in and identifies the company

package

provides information to the customer

label