SE marketing final

23rd of June

product mix

product’s final form and its total assorted features

product line

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

brand

the name, symbol, logo, word, or design (or a combination of these elements) that identifies a product, service, or company

product extensions

items offered in addition to the product to make it more attractive to 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

product enhancements

features added to the basic product to satisfy additional needs and wants with a single purchase

trademark

the legal protection of words and symbols used by a company

NCAA

a voluntary organization through which the nation’s colleges and universities govern their athletics programs.

Fringe benefits

incentives received in addition to a base salary

Blue-chip athletes

high-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field

product life cycle

four stages of a product including introduction, growth, maturity, and decline

skimming price strategy

introduces new products at a very high price

penetration price strategy

uses low pricing to help capture a large market share early

Positioning

differentiates its products or services from its competitors’ products or services.

channels of distribution

include all of the businesses through which products or services pass on the way to the consumer

venue

the facility where an event is held

amphitheaters

oval-shaped outdoor theaters with tiered seating around a central staging area

intermediaries

the businesses, or channel members, involved in making the product or service available

logistics

the process of planning, organizing, and managing the distribution of products and services

predictive analytics

a feature that gathers information from data sets and predicts outcomes based on patterns

predictive search

a feature that reviews your private data to provide you with answers to questions it predicts you might ask

mass media

a term used to describe a method of distributing an event to a large volume of people—the masses

disruptive technologies

new technologies that change existing forms of communication channels

Sitcom

a comedy series with a set of characters who are in each episode

cloud computing

storing programs or data on powerful computers at massive data centers that are available to multiple users on the Internet

broadband

high-speed Internet service

podcasts

a way of distributing multimedia files over the Internet for immediate or later playback

net neutrality

a requirement that Internet service providers (ISPs) treat all Internet traffic the same

platforms

types of delivery systems for technology

vertical integration

a distribution channel strategy that controls both the production and distribution stages of a product, from its development to its use by the consumer

vertical merger

occurs when a buyer and supplier are combined

in-concert movie

contains film of actual concert performances

wide release

involves distributing a movie nationally to a thousand or more theaters at the same time

league agreement

controls the marketing mix and governs the distribution of professional sports games, including the locations of the teams and the number of teams allowed in the league

cartel

an organization of independent businesses formed to control production, pricing, and marketing of a product

nonrevenue sports

those sports that are funded by schools but do not provide a return on investment

multichannel video programming distributor

a cable or satellite distributor of content

Independent films

movies shown outside the mainstream of popular subjects

law of demand

when the price goes up, demand goes down; when the price goes down, demand goes up

bait and switch

occurs when a product that is advertised at a low price is “out of stock,” so the salesperson tries to sell customers a higher-priced alternative

law of supply

when the price goes up, the supply produced goes up; when the price goes down, the supply produced goes down

price discrimination

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

equilibrium

the point at which the supply and demand curves intersect

price fixing

occurs when related businesses conspire to charge high prices

operating expenses

all of the costs associated with running a business

markup

the amount that is added to the cost of a product or service to cover operating expenses and to allow for a profit

loss-leader pricing

involves reducing the price of a product below the store’s cost to create more customer traffic

price lines

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

inflation

occurs when prices for goods and services rise faster than consumer income

business cycle

refers to the ups and downs of the economy; also known as the economic cycle

shoulder period

a period of moderate demand

Scarcity

lack of resources

advertising

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

media

the channels of communication used to send a message to the target market

sales promotion

an additional incentive offered for a limited time to encourage consumers to buy a product

reach

the number of people in the target market expected to receive the message through the chosen medium (such as a TV commercial or social media ad)

publicity

Unpaid media attention, whether negative or positive, about a business and its products, services, or events

copy

words to be spoken or printed in an ad, to convey their message

personal selling

in-person, face-to-face communication between a seller and a customer

visual merchandising

the process of creating three-dimensional displays to promote products

product placement

the integration of a product into a movie or television show

frequency

the number of times the targeted group has been exposed to the message

trade sales promotion

a sales promotion directed at members of the distribution channel

native advertising

online content created by a company that has the appearance of non-ad content, such as an editorial

consumer sales promotion

a sales promotion directed at the final consumer

goodwill

positive feelings about the business

grass-roots effort

when an unknown person or event is propelled into the spotlight by fans

body language

non-spoken signals

public relations (PR)

the arm of promotion that tries to create a favorable public opinion for an individual or organization

Publicist

the person responsible for maintaining relations with the public and news media

viral campaign

a promotion in which a few online mentions produce millions of comments

situational analysis

an in-depth look at the current conditions of the business, the competition, and the target customer

marketing plan

a precisely written document that describes a company’s situational analysis, marketing strategy, and implementation plan for meeting company objectives

tactics

the actions taken to implement a strategy

SWOT analysis

an examination of the business’s strengths, weaknesses, opportunities, and threats

SMART objectives

specific, measurable, attainable, relevant, and timely objectives

marketing strategy

an idea for achieving marketing objectives that can be put into action

strategic thinking

the process of finding unique, innovative ways to reach an objective

applied research

focuses on solving a specific problem

anthology series

a TV series that has a different cast, setting, and story line each season

product portfolio

all of the products a company has available for customers at any one time

nonprice competition

when a business decides to emphasize other factors in the marketing mix besides price

positioning statement

the specific description of the unique qualities of a product’s marketing mix

executive summary

placed at the front of the marketing plan to present a short, concise restatement of its contents

project matrix

a chart displaying the tasks, groups or individuals responsible for completion of the tasks, and the due dates or timelines

mission statement

the nature of the business and the reason the company exists

interpretation

the explanation of research data in a way that makes it meaningful and informative