MARK exam

SERP

Search Engine Results Page; the page displayed by a search engine in response to a user's query.

Online Social Networks

Digital platforms like Facebook and Twitter where users create profiles to interact.

GRP

Gross Rating Points; a measure of total ad exposure, combining reach and frequency.

Reach

The total number of unique individuals exposed to an ad over a certain period.

Advertising Objectives

Goals of advertising which include to inform, persuade, and sell.

Marketing Department vs. Sales Department

The need for effective communication to avoid misalignment between marketing and sales.

When to Skip Test Marketing

When the product is low-cost, there's critical time to market, or sufficient data exists.

Direct Marketing

Requires targeting, personalized messaging, and data to communicate directly with consumers.

Cost-Plus Pricing

A pricing strategy where a fixed percentage is added to production costs.

Integrated Marketing Communication (IMC)

Creating a consistent message across all marketing channels to reinforce brand identity.

Marketing Channel

A path through which goods and services flow from producers to consumers.

Intermediary

A third party that facilitates the flow of goods from producers to consumers.

Stages of Product Life Cycle

Stages include Introduction, Growth, Maturity, and Decline.

Advertising Goals

Goals include creating awareness, changing attitudes, and driving action.

Test Marketing Benefits

Provides real-world data, mitigates risk, and tests customer response.

Showrooming

When consumers examine products in stores but purchase online.

Price Demand Curve

The relationship between product price and quantity demanded.

Elastic Demand

Small price changes cause significant changes in demand.

Inelastic Demand

Price changes have little effect on demand.

Advertising Objectives Types

Includes informative, persuasive, and reminder advertising.

Sources of New Product Ideas

Includes market research, consumer feedback, and competitor analysis.

Direct Marketing Channel

Manufacturer sells directly to consumers.

Indirect Marketing Channel

Involves intermediaries like wholesalers or retailers.

Disintermediation

Removing intermediaries from the supply chain.

Reasons New Products Fail

Common reasons include poor market research and inadequate marketing.

Direct Mail Marketing

Sending physical promotional materials to a targeted list of potential customers.

SEO

Search Engine Optimization; optimizing a website to rank higher in search results.

Promotion Mix

Combination of tools used in marketing including advertising and PR.

Permission-Based Email Marketing

Email marketing where consumers opt-in to receive messages.

AIDA

Marketing model with stages: Attention, Interest, Desire, Action.

Product Placement

Brands pay to have their products featured in media content.

Pricing Strategy Types

Includes cost-plus, market skimming, and penetration pricing.

Distribution Strategies

Includes exclusive, intensive, and selective distribution.

ELP

Everyday Low Pricing; selling products at consistently low prices.

Focus Strategy

Targeting a specific market segment with specialized offerings.

Types of Websites

Includes e-commerce sites, search engine sites, and content sites.

Print Ad Copy

The body of text in a print ad, written by a copywriter.