M2

What is a SERP?

Search Engine Results Page, a page returned after a user searches something, including PPC, organic results, videos, and images.

What are Online Social Networks?

Platforms like Facebook, TikTok, and Instagram used for social media marketing, involving creating and sharing content and engaging with the audience.

What does GRP stand for and what does it measure?

GRP stands for Gross Rating Points and measures the reach/exposure of an ad campaign.

What is Reach in Advertising?

The percentage of people within the target audience who have seen the campaign/ad at least once within a certain period.

What are the objectives of advertising?

To inform, persuade, and remind customers about a product or brand.

What are silos in an organization?

Separation of different departments or teams within an organization that can lead to miscommunication.

When would you decide NOT to do test marketing?

When creating a new product line, copying a competitor product, when management has confidence, or when it's considered a low-risk product.

What is direct marketing?

Marketing directly to consumers using channels like emails, catalogs, and telemarketing.

Define Cost Plus Pricing.

A pricing method where a fixed percentage (markup) is added to the total production cost to determine the price.

What is IMC?

Integrated Marketing Communications; a strategy that integrates communication channels to deliver a clear and consistent message.

What are the stages of the product life cycle?

Introduction, Growth, Maturity, Decline.

What is test marketing?

Testing products in limited markets to predict success and gain customer insights.

What is showrooming?

The practice of visiting retail stores to research merchandise before purchasing it online for a lower price.

What are price demand and demand curves?

Price demand is the quantity consumers are willing to buy at a given price, while demand curves visually represent this relationship.

What is inelastic demand?

Demand that does not change when prices change.

What is informative advertising?

Advertising used when introducing a new product category to build primary demand.

What are common sources of new product ideas?

Customer feedback, R&D, competitors, and market trends are common sources. Non-industry experts is uncommon.

What is the difference between direct and indirect marketing channels?

Direct marketing is when manufacturers sell directly to consumers; indirect involves third parties.

What is disintermediation?

Removing intermediaries from a distribution channel.

What are the common reasons for new product failure?

Poor planning, management, execution, research, and timing.

What is direct mail marketing?

Involves sending personalized offers or announcements to a person at a particular address.

What is SEO?

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

What is the promotion mix?

The blend of advertising, public relations, personal selling, and direct-marketing tools used to communicate customer value.

What is permission-based email marketing?

Sending emails to those who have opted in to ensure compliance and trust.

What is AIDA?

Attention, Interest, Desire, Action; a model used to guide customers through the buying process.

What is product placement?

Integrating a product into media content to promote it.

What is a focus strategy?

A strategic approach where a company focuses its efforts on a specific niche market.

What is Everyday Low Pricing (ELP)?

A marketing strategy that involves consistently offering products at low prices without sales.

What is the difference between E-Commerce Websites and Business/Informational Websites?

E-Commerce focuses on selling products online, while Business/Info Websites provide information about a company or service.

What are the three distribution strategies?

Intensive, Selective, and Exclusive distribution strategies.