CFMP flashcards
CFMP · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- SMART objectives
- Specific, Measurable, Achievable, Relevant, and Time-bound; marketing objectives should state a metric and deadline so performance can be evaluated.
- STP model
- Segmentation divides a market into groups, targeting selects which groups to serve, and positioning creates a distinct place in the target customer's mind.
- Ansoff growth matrix
- Four growth options crossing existing/new products with existing/new markets: market penetration, product development, market development, and diversification, with diversification typically riskiest.
- Porter's five forces
- Framework assessing industry attractiveness through rivalry among existing competitors, threat of new entrants, threat of substitutes, supplier bargaining power, and buyer bargaining power.
- SWOT analysis
- Situational tool listing internal strengths and weaknesses plus external opportunities and threats; it informs strategy but is not itself a strategy.
- Marketing plan components
- A plan typically includes situation analysis, target market, objectives, value proposition, marketing mix, budget, timeline, and measurement controls.
- Market share formula
- Market share equals a company's sales divided by total market sales, multiplied by 100 to express the result as a percentage.
- Primary vs secondary data
- Primary data are collected new for the current research problem; secondary data already exist and are cheaper but may not fit the question.
- Probability sampling
- Every population member has a known nonzero chance of selection; examples include simple random, systematic, stratified, and cluster sampling, supporting statistical inference.
- Margin of error
- The ± range around a survey estimate at a stated confidence level; it shrinks as sample size grows and widens as confidence level rises.
- Focus group
- A moderated qualitative discussion with a small group; it reveals attitudes and language but results are not statistically projectable to the population.
- A/B test
- A randomized experiment comparing two versions that differ in one variable, measuring a defined outcome to determine which performs better with statistical confidence.
- Segmentation bases
- Common bases are demographic, geographic, psychographic, and behavioral; effective segments are measurable, accessible, substantial, differentiable, and actionable.
- Price elasticity of demand
- Percentage change in quantity demanded divided by percentage change in price; absolute values above one indicate elastic demand, below one inelastic.
- Penetration pricing
- Setting a low initial price to attract buyers quickly, build market share, and discourage entrants; it can weaken perceived value and margins.
- Price skimming
- Setting a high launch price to capture early adopters willing to pay more, then lowering price over time as competition or demand changes.
- Break-even units
- Fixed costs divided by the difference between unit price and unit variable cost; the result is the sales volume needed to cover total costs.
- Product life cycle
- Stages are introduction, growth, maturity, and decline; competition, sales growth, and pricing pressure change across the stages.
- Distribution intensity
- Intensive places products in many outlets, selective uses a limited set, and exclusive restricts outlets to protect brand image and dealer commitment.
- Channel conflict
- Disagreement among channel members over goals, roles, or margins; horizontal conflict is between peers, vertical conflict is between levels such as manufacturer and distributor.
- AIDA model
- A hierarchy describing message effects: Attention, Interest, Desire, and Action; it guides sequencing of communications but is not a universal buyer path.
- Click-through rate
- Clicks divided by impressions, multiplied by 100; it measures how many viewers click a digital ad or link after seeing it.
- Conversion rate
- Desired actions divided by total visitors or opportunities, multiplied by 100; it measures how effectively traffic becomes leads or sales.
- CAN-SPAM Act
- U.S. law requiring commercial email to avoid deceptive headers, identify as advertising, include a physical address, and honor opt-out requests promptly.
- TCPA consent
- U.S. law generally requires prior express written consent for autodialed or prerecorded marketing calls and texts to mobile numbers, plus do-not-call compliance.
- Owned, earned, paid media
- Owned media are brand-controlled channels, earned media are publicity or shares, and paid media are purchased placements; IMC coordinates all three.
- UDAAP
- Legal standard prohibiting unfair, deceptive, or abusive acts or practices in consumer financial products; marketing claims and disclosures must be evaluated against it.
- Regulation DD
- Implements Truth in Savings; requires accurate APY and fee disclosures and triggers additional disclosures when ads state rates, yields, or certain terms.
- Regulation Z
- Implements Truth in Lending; requires APR and finance-charge disclosure and triggers extra disclosures when ads include terms such as down payment or monthly payment.
- FDIC advertising rule
- Deposit advertising must not misrepresent insurance; it generally must state Member FDIC and cannot imply that non-deposit products are FDIC-insured.
- RESPA Section 8
- Prohibits giving or receiving anything of value for referrals of settlement service business and prohibits splitting fees except for services actually performed.
- Marketing ROI
- Incremental profit attributable to marketing minus marketing investment, divided by marketing investment, times 100; it links spending to financial outcomes.