Marketing Strategy Exam Review

Marketing Strategy Midterm * The 3 V Principle of Managing Value is an organizing framework where customer value, company value, and collaborator value overlap to form an optimal value proposition ( OVP). * Which of the 5 C’s involves the relevant aspects of the environment in which the company operates, including economic, technological, sociocultural, regulatory, and physical aspects of the business environment? Context * The D-C-D framework is all about designing, communicating and delivering value * The SMART framework calls for setting goals that are specific, measurable, achievable, result oriented, and time bound * What category is comprised of favorable, internal factors in the SWOT framework? Strengths * What category is comprised of unfavorable, external factors in the SWOT framework? Threats * A comprehensive analysis of a brand most often to determine the sources of brand equity, is a Brand Audit * CPG stands for consumer packaged goods, which is a type of consumer products packaged in portable containers * EDLP stands for everyday low pricing, which is a pricing strategy in which a retailer maintains low prices without frequent price promotions * FSI stands for free standing inserts, another name for the leaflets or coupons inserted into newspapers * The contribution margin is the difference between total revenue and total variable costs. It can also be calculated on a per unit basis as the difference between the unit selling price and the unit variable cost * In a push and pull strategies, a pull strategy refers to the practice of creating demand for a company’s offering by promoting the offering directly to the end users, who in turn demand the offering from intermediaries, while a push strategy refers to the practice of creating demand for a company’s offering by incentivizing channel members who offer the product downstream to end users * ROMI stands for return on marketing investment a