BMK3 Vocab

intangible
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Terms in this set (81)
intangible
unable to be touched or grasped; not having physical presence
assets
Economic resources (things of value) owned by a firm.
brand repositioning
a strategy in which marketers change a brand's focus to target new markets
brand personality
a set of human characteristics associated with a brand name
brand equity
the added value a brand name gives to a product beyond the functional benefits provided
brand loyalty
consistent preference for one brand over all others
brand leader
the brand in the market with the highest market share
brand experience
point of contact through which a person comes into contact with a brand — whether packaging, customer relations, a branded line of merchandise, an interactive kiosk, an exhibit, a website, or an event
brand awareness
how quickly or easily a given brand name comes to mind when a product category is mentioned
brand promise
the marketer's vision of what the brand must be and do for consumers
brand extensionthe use of the same brand name for new products being introduced to the same or new marketsbrand identityCombination of name, logo, symbols, design, packaging, and image of associations held by consumersaffiliationconnecting, associationinformed choicegiving thought to our purchasing decisionsempathythe ability to understand and share the feelings of anotherprivate labelbrand developed by or for a specific retailer, also called store brand or private brandentrantspotential competitorsdistinctiveclearly different from others of the same kindheritage branda brand with a story to tellspokespersonbeing the official person to give out informationroll outlaunch new productsto air somethingto broadcast something on radio or TVsubliminalbelow the level of consciousnesswreak havocto cause chaos or destructionunderdogone that is at a disadvantagebuying allowanceA discount given to retailers for the goods purchasedcooling-off perioda specified period of time within which a consumer can back out of an agreement to buy somethingdangler/wobblera shelf talker that moves when you walk past iteconomy packA pack that includes several products in a wrap that is cheaper than buying the product individually.End Aisle Displaydisplays of merchandise attractively arranged at the ends of aisleshard sellattempt to sell something by being very forceful or persuasiveimpulse purchaseAn item that is bought without previous planning or consideration of the long-term effectsincentivemoney, premiums or prizes that are given by a seller to encourage consumers to purchase the productin-pack premiumA gift placed inside the product packaging to encourage the consumer to purchase the productloss leaderAn item priced at or below cost to draw customers into a store.neckerA coupon placed on the "neck" of a bottle.on-pack offerAn offer made on packagingto oversellto sell more of a product than can actually be suppliedon-pack premiuma gift attached to a product or product's packaging to influence the consumer to purchase the productpremiumLow cost item given to consumers at a discount or for free.promotional allowancespayments or price reductions that reward dealers for participating in advertising and sales support programspromotional tie-insSales promotional arrangements between one or more retailers or manufacturers.pull strategiesmarketing, advertising, and sales promotion activities aimed at inducing trial purchase and repurchase by consumerspush strategiesmarketing, advertising, and sales promotion activities aimed at getting products into the dealer pipeline and accelerating sales by offering inducements to dealers, retailers, and salespeopleshelf talkerssigns or coupons attached to a shelf that customers can take away for information or discountsslotting allowancefees firms pay to retailers simply to get new products into stores or to gain more or better shelf space for their productstraffic builderspromotional campaign or activity; for example giving premiums with the target of increasing the number of shoppers in a shopping area or mallchallenger brandA rival product that seeks to disrupt sales of established products by being innovative or using a different business modelclippingsarticles cut out of the newspapercommunity relationsbuilding and enhancing relations and fostering understanding of the role of a company in the local communityconversion ratepercentage of responders to a direct mailing action who become customerseditorial calendarA listing of planned future themes and features in a publicationembargoan agreement among a group of nations that prohibits them all from trading with a target nationenvelope stufferIncluding a direct mail message with another message such as a bill sent by mail.hitthe achievement of media coveragein-house magazinepublication which is written and produced within an organisation by its employeeslist maintenanceKeeping a mailing list current by correcting and updating addresses and other datalobbyingpublic relations communication involving relations with government or official organisationsmailing listA list of customers or prospective customers that can be used to mail announcements or product information.niche marketingthe process of finding small but profitable market segments and designing or finding products for themprospectingmailing or telemarketing potential customers to buy for the first timemedia listList of the media relevant to a company, news story, or campaignmedia monitoringobserving and checking coverage in the press and on TV, radio and the internetmedia relationsdealing with and building up good working relationships with journalistsAmbush MarketingA promotional technique whereby a non-sponsoring business tries to associate with an event to gain recognition as a sponsorstealth marketingguerrilla marketing tactic in which consumers do not realize that they are being targeted for a marketing messageexperiential marketinga program that combines direct marketing, field marketing, and sales promotions into a single consumer experiencereverse graffitiwriting messages or creating images in polluted areas, often on dirty walls, by removing the dirt from the walls.authenticitythe truthfulness of originsconvenienceanything that makes life easier or more comfortableattention-grabbingwanting to get other people's interestsophisticationrefinement, cultivated tastes, cosmopolitan qualitiessymbolismA person, place or object which has a meaning in itself but suggests other meanings as welldifferentiationmaking a product different from other similar productseconomies of scalefactors that cause a producer's average cost per unit to fall as output risessegmentationdivide the total market into different partscultural sensitivityrecognizing and respecting the differences between culturesmarket positioningstrategic decision involving where to place your product or serviceentry coststhe costs in time and money that a firm must go through to become registered as part of the formal sectorenvironmental factorsexamples include opportunities and threats coming from a sociocultural, legal, economic, political or technological sourcecultural normsbehavior patterns that are typical of specific groups