Untitled Flashcards Set

Quality Insurance

Processes used to ensure a product is free of defects and/or meets a desired level of service.

Marketing Research Brief

A written document that includes a market and strategic overview, background information, role of research, objectives, suggested approach and research target, reporting requirements, timing, budget and existing research or other information related to the study.

Channel Management

Also known as distribution, it deals with getting goods to consumers.

Marketing Plan

A formal document that specifies a company’s activities for a determined amount of time.

Buzz Marketing

Develops from a viral marketing technique used to get consumers talking about a product.

Correlations

Connections between two or more variables in a market research study.

Exploratory Research

A study that provides details about a problem where little information exists.

Product Bundling

Technique of offering two or more complementary goods or services together as a package deal.

Error

A wrong action that cannot be attributed to a lack of knowledge.

Consumer Protection

Federal and state laws that regulate the sale and credit policies surrounding consumer sales.

Special Events

A public event used in marketing to promote a business or product.

Questionnaire

Written questions used to obtain information from respondents in marketing research.

Safety Procedures

Processes implemented to ensure the safety of workers and customers.

Observations

Used in marketing research to record people’s actions.

Financial Analysis

Evaluating an organization’s financial statements to determine profitability.

Business Image

The public perception of a business.

Amenity

Hotel products and services designed to appeal to guests.

Emotional Intelligence

The ability to identify, assess and influence one’s own feelings and those of others.

Cash Controls

Procedures established relating to credit and cash disbursements.

External Business Correspondence

Communications aimed at individuals or groups outside of an organization.

Hospitality

A variety of businesses that serve people who are away from home.

Primary Information

Data gathered for the first time for a specific product or service.

Sales Promotion

Marketing activities directed at a customer to increase sales.

Social Platforms

Software that allows for the management of social media.

Pay Per Click Ads

An online form of advertising where the advertiser pays for each click on their ad.

Grades

Used to describe the quality of a product.

Product Life Cycle

The stages a product goes through: Introduction, Growth, Maturity, Decline.

Banner Ads

Advertisements running on the top, bottom, or sides of a website.

Product Extensions

Using a recognizable brand name to introduce a new product.

Casual Research

A study that looks at the effect of one variable on another.

Terms

Outlines the conditions of a sale, such as payment due date or shipping method.

Internal Business Correspondence

Outlines conditions of a sale for internal communication.

Post - Sales Experience

Activities directed toward the customer after the purchase.

Display Ads

Large advertisements typically in magazines or online, possibly with video/audio.

Continuing Education Courses

Post-secondary training including formal education and webinars.

Economics

Explains how wealth is created and distributed in communities.

Market Planning

The process that results in a marketing strategy for enhancing sales.

Warranties

A promise that a product will meet certain standards.

Promotion

Choices made about advertising and sales tactics to communicate with customers.

Guarantees

A commitment that a product will perform as described.

Product Marketing

Marketing of tangible goods or services, including product development.

Secondary Information

Data previously collected for non-marketing activities.

Word Of Mouth Strategy

Using recommendations by satisfied customers to gain sales.

Service Marketing

Marketing of intangible products, including service development.

Product Positioning

A strategy to make a brand occupy a distinct position in the customer's mind.

Visual Merchandising

Manipulation of physical elements within a business to convey an image.

Information Management

Collecting and analyzing data for strategic business decisions.

Market Identification

Identifying the most profitable areas for a new product or service.

Product Development

Process of improving staff capabilities through training opportunities.

Distribution

The function of moving and selling goods from producer to consumer.

Branding

Creating a unique image or reputation for a product through promotion.

Operations

Tasks consisting of elements performed in one location.

Press Kit

Promotional materials sent to the media about a product.

Product Placement

Promotion involving a brand being featured in media outlets.

Regulations

Rules created by agencies or government that can be enforced by law.

Data Collection Instrument

Tools like surveys and interviews used to gather marketing data.

Marketing Information Management

Processes that generate, store, analyze and distribute information.

Diaries

A qualitative technique where participants record their activities and opinions.

Mobile Marketing

Promotional messages designed for mobile devices.

Invoice

A document listing goods purchased and terms of sale.

Vendor

An individual or organization with a product for sale.

Advergaming

Using a video game to promote a product through integration.

Trade Show

An event for businesses to promote their products.

Tourism

Travelling for leisure, recreation or pleasure.

Channels Of Distributions

Path a product takes from producer to final consumer.

Descriptive Statistics

Mathematical quantities used to summarize a set of data.

Professional Development

Training or education necessary for on-the-job success.

Advertising

Paid non-personal promotion of ideas, goods, or services through media.

Competitive Advantage

Circumstances that puts a company in a superior position.

Discussions

Qualitative research technique gathering data through conversations.

Sales Data

Information collected as part of a sales report.

Promotional Mix

Combination of advertising, personal selling, and public relations.

Direct Marketing

Promotional messages sent to targeted groups rather than a mass audience.

Petty Cash Fund

A small amount of cash kept for incidental expenses.

Marketing Research

Process of gathering information to make marketing decisions.

Business Law

Laws governing businesses and transactions.

Sales Channel

Methods a company uses to market its products.

Public Relations

Activities designed to create a good public image.

Expense Control

Identifying and reducing expenses to increase profits.

Suggestion Selling

Selling additional goods or services to a customer.

Product/Service Management

Creating and changing information about a company’s offerings.