Exam 11: Unique Marketing Issues

The first step in the formal sales process described in the book is ________.

Creating ________ means creating awareness and a sense of anticipation about a company and its offerings.

Creating buzz means creating awareness and a sense of anticipation about a company and its offerings.

According to the textbook, a successful brand can increase the market value of a company by ________ to ________ percent.

A firm's sales process depicts the steps it goes through to identify prospects and close sales.

Katherine Ford is thinking about starting a computer company. After doing some research, she has decided that the computer industry can be divided into the following product categories - handheld computers, laptops, tablet computers, PCs, work stations, minicomputers, mainframes and super computers. She is now trying to decide which product category she is the most interested in competing in. The process that Katherine is going through is called market ________.

What is an exclusive distribution agreement? Why do firms enter into exclusive distribution agreements with other firms?

In ________ pricing, the list price is determined by estimating what consumers are willing to pay for a product and then backing off a bit to provide a cushion.

Price is the only element in the marketing mix that represents a cost-all other elements produce revenue.

What is a brand? How does a new firm develop a brand?

________ refers to the activities the firm takes to communicate the merits of its product to its target market.

According to the textbook, most experts recommend ________ pricing because it hinges on the perceived value of a product or service.

A firm's target market is the limited group of individuals or businesses that it goes after or tries to appeal to.

A ________ market is a place within a market segment that represents a narrower group of customers with similar interests.

An important distinction should be made between a firm's core product and its actual product. While the core product may be a CD that contains an antivirus software program, the actual product may have a number of characteristics, including a quality level, features, design, a brand name, and packaging.

A(n) ________ is an event at which the goods or services in a specific industry are exhibited and demonstrated.

Kevin Jackson owns a general contracting company. The way Kevin prices his services is to figure his cost and then add a 33 percent markup. The method that Kevin uses to determine his prices is called ________-based pricing.

Once a firm has segmented the market, the next step is to ________.

A brand is the set of attributes-positive or negative-that people associate with a company.

A product attribute map is used to help a firm determine if ________.