MARKETING

Here are 50 flashcards to help you study efficiently:

Q: What is integrated marketing communications (IMC)?
A: The coordination of promotion and marketing efforts to deliver a consistent message.
Q: What is the main goal of IMC?
A: To maximize informational and persuasive impact on customers.
Q: Name three promotional tools used in IMC.
A: TV, social media, direct mail.
Q: Why is IMC becoming more popular today?
A: Due to the decline of mass media and the rise of targeted, data-driven marketing tools.
Q: What is database marketing?
A: Using customer data to create more precise and effective promotional strategies.

Q: What is promotion?
A: Communication to build relationships by informing and persuading audiences.
Q: What are the objectives of promotion?
A: To increase awareness, generate interest, and encourage action.
Q: What is the promotion mix?
A: A combination of methods used to promote a product.
Q: Name the four main elements of the promotion mix.
A: Advertising, personal selling, public relations, and sales promotion.
Q: Why is promotion important?
A: It helps build and maintain relationships with customers and stakeholders.

Q: What is advertising?
A: Paid, nonpersonal communication about an organization or product.
Q: Name two advantages of advertising.
A: Broad reach and brand recognition.
Q: Why are traditional media like newspapers declining?
A: Due to reduced readership and the rise of personalized digital ads.
Q: What type of advertising caters to smaller, personalized audiences?
A: Digital advertising.
Q: How has advertising changed with digital media?
A: It now focuses on targeted, data-driven campaigns.

Q: What is personal selling?
A: Paid, personal communication to inform and persuade customers.
Q: List two advantages of personal selling.
A: Immediate feedback and greater impact.
Q: What is a limitation of personal selling?
A: It is expensive.
Q: What is kinesic communication?
A: Communicating through body movements like gestures and eye contact.
Q: What is proxemic communication?
A: Communicating by varying physical distance in face-to-face interactions.

Q: What is public relations (PR)?
A: Efforts to create and maintain favorable relationships with stakeholders.
Q: What is publicity in PR?
A: Nonpersonal communication in a news-story format, often free of charge.
Q: Name two PR tools.
A: News releases and event sponsorships.
Q: Why should PR be an ongoing effort?
A: To maintain relationships and build long-term trust.
Q: How does PR differ from advertising?
A: PR focuses on relationship building, while advertising is paid communication.

Q: What is sales promotion?
A: Activities or materials offering incentives to increase sales.
Q: Name three examples of sales promotions.
A: Coupons, free samples, contests.
Q: What is the purpose of sales promotions?
A: To provide added value or incentives for customers.
Q: Name two types of sales promotions aimed at resellers.
A: Discounts and trade allowances.
Q: How do sales promotions benefit customers?
A: They encourage trial and repeat purchases.

Q: What are profit-oriented pricing objectives?
A: Achieving a target return or maximizing profits.
Q: What are sales-oriented pricing objectives?
A: Increasing sales volume or market share.
Q: What are status quo pricing objectives?
A: Stabilizing prices or meeting competition.
Q: Why are pricing objectives important?
A: They guide how a company sets prices to align with business goals.
Q: What is value pricing?
A: Emphasizing value over low price by focusing on quality and benefits.

Q: What is market-skimming pricing?
A: Setting a high price to maximize profits from early adopters.
Q: What is market-penetration pricing?
A: Setting a low price to quickly gain market share.
Q: What is loss leader pricing?
A: Selling products at a low price to attract customers to the store.
Q: What is everyday low pricing?
A: Consistently offering products at a low, stable price.
Q: What is price lining?
A: Offering multiple products at predetermined price points.

Q: What is a line extension?
A: A product closely related to existing products but targeting new customer needs.
Q: Name one benefit of product modifications.
A: Satisfying customers' needs more effectively.
Q: What is idea generation in new product development?
A: The process of seeking new product ideas from internal and external sources.
Q: What is concept testing?
A: Assessing potential buyers' reactions to a product idea.
Q: What is the purpose of test marketing?
A: To introduce a product on a limited basis to measure customer response.

Q: What are the four stages of the product life cycle?
A: Introduction, growth, maturity, decline.
Q: What is the main goal during the introduction stage?
A: To create product awareness and stimulate demand.
Q: What happens during the growth stage?
A: Sales rise rapidly, and profits peak before starting to decline.
Q: What is the focus during the maturity stage?
A: Maintaining market share and generating cash flow.
Q: What happens during the decline stage?
A: Sales and profits fall as the product loses market relevance.

These 50 flashcards cover the essential concepts from the presentation to help you review effectively.