MKTG Exam 3

A _____ is a promise from the company to its customers to deliver value consistently over time

A brand’s promise answers the customer’s question…

value is a ______ impression of benefits received relative to the price paid

Brand architecture is also called brand ________

Brand architecture/framework frames creative brief to drive…. (3)

Dunkin’ positioning and branding four brand characters

additional forms, flavors, or varieties of the brand introduced in the current category

moves an existing, current brand name into a completely different product class or category

brand or line extension?

brand or line extension?

brand or line extension?

brand or line extension?

line extensions represent about ____% of all new products

benefits of line extensions (4)

issues with line extensions (3)

name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers

legal term for brand

sets of assets or liabilities linked to brand that add or subtract value

brand equity is also the set of ___, _____, or _____ thoughts, beliefs, and emotions you associate with each of the brands

brand equity is _____ to measure; there is no universally accepted way to measure it

4 attributes of a brand that can be used to assess its strength or equity

the % of respondents who are aware of your product, brand, or advertising when asked

the % of respondents who are aware of your product, brand, or advertising top-of-mind without being assisted

factors that serve to increase the strength of a brand include… (4)

brand personality refers to the ____ ________ associated with a brand; they are expressed as adjectives that convey how you want people to percieve you (cheerful, friendly, etc.)

4 brand benefits (FPSS)

brand introduces a lower or higher priced version of the current product or service (ex: amex)

type of brand stretching that uses its established brand name or image to introduce a new product or category to its customer base (ex: tide pen)

two or more branded products are integrated (ex: breyer’s oreo ice cream)

private brands have traditionally been ____ ________

46% of grocery buyers now say private label brands are “____ _______” when it comes to deciding with food retailer they’ll shop

_____ ______ assigns different brand names to each product line (ex: marriott)

advantages of multibranding strategy (4)

disadvantages of multibranding strategy (2)

products that consumers strongly associate with a category and “help” consumer find their way around a store (ex: soup, detergent, energy drinks, etc.)

a tool used to diagnose the power and value of a brand and measures consumers’ perspectives along four dimensions… (DERK)

a _____ is a bundle of attributes that a person receives in an exchange; anything offered by a firm to provide customer satisfaction, tangible or intangible.

products are the marketer’s primary means of _____ ______

customer’s perception of value depends on… (2)

services are processes or actions that are performed and can only be experienced; services differ on four “I” dimensions…

product mix

_____: number of individual product lines offered by the organization (ex: unilever)

_____: average number of products in each line (ex: breyers)

the new product development process includes these basic elements… (6)

new product analysis that offers pre-market sales forecasting: ______ _______

role of NielsenIQ BASES in product development (4)

Nielsen has the world’s largest product testing database and has established benchmarks for ___ _______ and ____ ____ ______

success thresholds vary by _____; some have a higher threshold of risky, meaning they more frequently encounter challenges

BASES factors for success (DANACA)

top 2 box: indicates significant potential (2)

**also known as go or no go**

TURF Analysis: Total _____ _______ and _______

it takes _____ repeat purchases for a consumer to become a loyal buyer

between the trial and first repeat purchase, a brand will lose ____ its buyers

new product purchase cycle:

____ purchase → __ _____ purchase → __ ______ purchase… and so on until the 8th purchase

PRICE creates ____ for _______ and captures _____ for the ______

price affects profits in 3 different ways….

price-setting process in marketing (5)

value increases when more benefits are offered at the _____ price (ex: toaster strudel more fruit)

van westendorp price chart:

marketers need to balance the customer’s perception of the _____ provided with the customer’s perception of the ____ price

to drive effective short and long-term pricing, a company must consider… (3)

manufacturers present a _____ ____ _____ to retailer partners, but it is up to the buyer to do so

demand influence includes… (2)

types of pricing strategies (9)

**they all sound like what they are**

consumers are less price sensitive when… (5)

the degree to which a change in price leads to a change in demand

PED formula = (% change in Qd)/(% change in price)

if Q sold > 1, product has _____ demand

if Q sold < 1, product has ______ demand

change in price will cause many buyers to NOT buy, demand is ____ and buyers are ______ to price change

change in price will cause many buyers to still buy, demand is ____ and buyers are ___ ___ to price change

price/percent gap formula = (your price - competitor price)/(competitor price)

how old is magnus?

the ______ is a financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a fiscal quarter or year

price at which producer sells to retailers

total sales of the brand unadjusted for the costs related to generating those sales

gross sales = selling price per unit * # units sold

paid to retailer to drive merchandising on brand

net sales = (sum of gross sales - trade discounts)/(allowances and sales returns)

total dollar amount of brand sales in a give period

= selling price unit * # units sold)

paid to retailer to drive merchandising on your brand

includes all costs above gross profit

includes all costs below gross profit

a facility for the receipt, storage, and redistribution of goods to company stores

warehouse facilities used to ship merchandise directly to consumers

movement of goods from a transportation hub or warehouse to its final delivery destination

placing the product in every available distribution channel

only one distributor to merchandise offering within a definite region (ex: Tesla)

middle-ground option between intensive and exclusive distribution (ex: Academy, Dicks)

provide seamless customer experiences regardless of whether they are shopping online or in-store (ex: Dunkin’)

those whose motive is something other than to make a profit for owners

examples of nonprofits (5)

____-_____ shopping is the hallmark of today’s consumer

business model which involve transactions taking place on the internet

marketing in eCommerce should ____ with all elements of the marketing plan

short window of 3-5 seconds after a shopper first encounters a product on a store shelf

when a customer uses a digital device to begin learning about a potential purchase

the process of generating website traffic by purchasing advertising on search engines

process of getting more traffic based on higher rankings of free search results on search engines

social media marketing metrics (9)