Marketing and Advertising Flashcards

What is a 'loyalty program' designed to accomplish?

Answer: Reward repeat customers to encourage continued business

Loyalty programs reward customers for repeat purchases, increasing retention and lifetime customer value.

What is 'guerrilla marketing'?

Answer: Unconventional, low-cost marketing tactics designed to create a big impact

Guerrilla marketing uses creative, unexpected tactics in public spaces to promote a brand with minimal budget but maximum impact.

What does 'ROI' stand for and why is it important in marketing?

Answer: Return on Investment; measures the profitability of marketing spending

ROI (Return on Investment) measures how much revenue a marketing campaign generates relative to its cost, helping businesses evaluate effectiveness.

Which type of distribution channel sells products directly from producer to consumer with no intermediaries?

Answer: Direct distribution

Direct distribution eliminates middlemen by having the producer sell straight to the end consumer, as seen with factory outlets or company websites.

What is 'influencer marketing'?

Answer: Using individuals with large social followings to promote products to their audience

Influencer marketing leverages individuals who have large, engaged online followings to authentically promote brands to their audience.

What is a 'focus group' used for in marketing research?

Answer: To gather qualitative feedback from a small group of representative consumers

A focus group brings together a small group of consumers to discuss and provide feedback on products, services, or marketing concepts.