Term
| Activities Performed by intermediaries |
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Definition
Marketing Information
Marketing Exchange
Facilitating Exchanges
Promotion
Price
Physical distribution |
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Term
| Marketing information (Intermediaries) |
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Definition
| analyze sales DATA and other information in DATAbases and INFOrmation systems |
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Term
| Marketing management (Intermediaries) |
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Definition
| establish strategic and tactical plans for developing customer relationships and organizational productivity |
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Term
| Facilitating Exchanges (Intermediaries) |
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Definition
| Choose product assortments that match the needs of customers and cooperate with channel members to develop partnerships. |
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Term
| Promotion (Intermediaries) |
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Definition
| set promotional objectives and coordinate advertising, personal selling, sales promotion, publicity, and packaging |
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Term
|
Definition
| establish pricing policies and terms of sales |
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Term
| Physical distribution (Intermediaries) |
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Definition
| manage transportation, warehousing, materials, handling, inventory control, and communication |
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Term
| What are the 4 P's of the marketing mix? |
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Definition
Price
Position
Product
Promotion |
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Term
| How do marketing channels influence price? |
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Definition
| price policies and terms of sales are established by the marketing channel intermediaries. |
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Term
| How do marketing channels influence product? |
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Definition
| Product is being distributed from the producers to the consumers within the supply chain |
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Term
| How do marketing channels influence promotion? |
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Definition
| Promotional objectives are set by marketing channel intermediaries. They also coordinate advertising, personal selling, sales promotion, publicity, and packaging. |
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Term
| What are the activities performed by an intermediary? |
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Definition
| They are Middlemen that link production to other intermediaries or ultimate consumers through contractual arrangement or through the purchase and resale of products |
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Term
|
Definition
| an evaluation performed before the campaign begins. Evaluates effectiveness of one or more elements of the message by referring to a consumer jury of potential buyers |
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Term
|
Definition
| an evaluation of advertising effectiveness after the campaign. Evaluated through different methods based on goal of advertising. For sales, find figures before and after ads. |
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Term
| What are the types of consumer surveys? |
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Definition
Recognition
Unaided Recall
Aided Recall |
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Term
| Recognition Consumer Survey |
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Definition
| Individuals are shown advertisement and asked if they recognize it |
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Term
| Unaided recall consumer survey |
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Definition
| individuals are asked to identify ads without any clues |
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Term
| aided recall consumer survey |
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Definition
| individuals are shown certain products to refresh their memories |
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Term
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Definition
| communication efforts used to create and maintain favorable relations between an organization and its stakeholders |
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Term
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Definition
| communication about the organization and/or its products transmitted through mass media at no charge |
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Term
| What is the purpose of publicity? |
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Definition
| To enhance the image of the entire organization |
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Term
|
Definition
| an activity and/or material intended to induce resellers or salespeople to sell a product or consumers to buy it |
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Term
|
Definition
fraud
mis-redemption
expensive for manufacturers
losing value
brand loyalty diminished not enough of item in stock |
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Term
| limitations of promotions (not coupons) |
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Definition
rebates- too complicated
free samples- most expensive
cents-off offer- lowers product image |
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Term
| types of possible sales promotions |
|
Definition
written price reductions to buy specific product
coupons, point-of-purchase materials
demonstrations
consumer contests
free sample
consumer contests
consumer games
sweepstakes |
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Term
|
Definition
| paid non-personal communication about an organization and its products transmitted to a target audience through mass media |
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Term
| what is the difference between advertising and promotion? |
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Definition
advertising is non-personal
promotion is personal |
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Term
| Types of Psychological Pricing |
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Definition
Customary
Odd-Even
Multiple-Unit
Bundles
Everyday low prices
Reference
Prestige |
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Term
|
Definition
| moderate pricing positioned next to a more expensive brand |
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Term
|
Definition
| packaging multiple products to be sold at a single price |
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Term
|
Definition
| packaging together two or more identical products to be sold at a single price |
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Term
|
Definition
| pricing products low on a consistent basis |
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Term
|
Definition
| ending the price with a certain number to influence the buyers' perceptions |
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Term
|
Definition
| price on the basis of tradition |
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Term
|
Definition
| setting prices at a high level to convey prestige |
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Term
|
Definition
| emphasize price as an issue and matching or beating competitors' prices |
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Term
| What must a firm do to price compete effectively? |
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Definition
be the low-cost seller
rely on standardized products
frequent price changes
provide flexibility |
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Term
|
Definition
factors other than price are used to distinguish the product form competing brands.
emphasizes distinctive product features, quality, promotion, packaging, etc. The distinction must be effective. |
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Term
| Factors that affect pricing decisions |
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Definition
Costs
Channel member expectations
Customer interpretation and response
Competition
Organizational and marketing objectives
Other marketing mix variables
Legal and regulatory issues
Pricing |
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Term
| Objectives when setting prices |
|
Definition
Survival
Status quo
Profit
Cash flow
Return on Investment
Market Share |
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Term
|
Definition
| adjusts price levels so the firm can increase sales volume to match organization expenses |
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Term
|
Definition
| identify price and cost levels that allow the firm to maximize profit |
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Term
|
Definition
| identify price levels that enable the firm to yield targeted ROI |
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Term
|
Definition
| adjust price levels so the firm can maintain or increase sales relative to competitors' sales |
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Term
|
Definition
| set price levels to encourage rapid sales |
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Term
|
Definition
| identify price levels that help stabilize demand and sales |
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Term
|
Definition
| set prices to recover research and development expenditures and establish a high quality image |
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