Term
| _ is the process of planning and executing the development pricing, promotion, and distribution of goods & services to achieve organizational goals |
|
Definition
|
|
Term
| a _ is made up of all the people or organizations who want or need a product and have the willingness and ability to buy |
|
Definition
|
|
Term
| _ may be goods, services, ideas, places, or persons. |
|
Definition
|
|
Term
| a _ is a customer-oriented business philosophy that stresses customer satisfaction as the key to achieving organizational goals |
|
Definition
|
|
Term
| six marketing functions are: |
|
Definition
enviornmental analysis
consumer analysis
product planning
price planning
promotion planning
physical distribution (place) planning |
|
|
Term
| a _ is the combination of four variables that comprise an organization's marketing program: product, price, promotion, and physical distribution |
|
Definition
|
|
Term
| _ is the process of dividing the total market into distinct submarkets or groups based on similarities in their wants, needs, behaviors, or other characteristics |
|
Definition
|
|
Term
| _ are groups of customers who are similar to each other in a meaningful way and who will respond to a firm's marketing mix similarly |
|
Definition
|
|
Term
| a _ is one particular group of potential customers that the organization seeks to satisfy with a product |
|
Definition
|
|
Term
| _ exists when a product or brand is perceived as different from its competitors on any tangible or intangible characteristic |
|
Definition
|
|
Term
| _ refers to the decisions involved in shaping the product's image in the customer's mind |
|
Definition
|
|
Term
| the _ is the organization's statement of marketing strategy and the specification of the activities required to carry out the strategy |
|
Definition
|
|
Term
| _ identifies the company's relative strengths and weaknesses, as well as the opportunities and threats posed by its _. |
|
Definition
| situation analysis, marketing environment |
|
|
Term
| _ specify the goals of the firm in both quantitive (e.g. sales, profit, market share) and qualitative ( e.g. market leadership, corporate image) terms |
|
Definition
|
|
Term
| the _ is composed of two types of factors: those that they can control and those that they cannot control |
|
Definition
|
|
Term
| what are the six macroenviornmental factors ? |
|
Definition
demographics or demography
economic conditions
competition
social and cultural factors
political and legal factors (government)
technological factors |
|
|
Term
| _ are external forces that impact each specific company uniquely |
|
Definition
| microenvironmental factors |
|
|
Term
| what are the three microenviornmental factors? |
|
Definition
suppliers
marketing intermediaries
target market |
|
|
Term
| a firm's _ defines the way in which the marketing mix is used to satisfy the needs of the target market and achieve organizational goals. |
|
Definition
|
|
Term
| the _ specifies the four fundamental alternative marketing strategies available to the firm. |
|
Definition
| product/market opportunity matrix |
|
|
Term
| _ attempts to increase sales of the firm's existing products to its current markets |
|
Definition
| market penetration strategy |
|
|
Term
| _ attempts to increase sales by introducing existing products to new markets |
|
Definition
| market development strategy |
|
|
Term
| _ entails offering new products to the firm's current markets |
|
Definition
| product development strategy |
|
|
Term
| _ aims new products at new markets. |
|
Definition
|
|
Term
| _ is a tool used to assess the potential value and fit of new opportunities |
|
Definition
|
|
Term
| the _ is a framework that classifies each product or product line within a firm's "product portfolio" |
|
Definition
| boston consulting group matrix |
|
|
Term
| _ generate large profits, but also consume substantial resources to finance their continued growth |
|
Definition
|
|
Term
| a _ does not provide great profits, but still requires high levels of investment to maintain or increase market share |
|
Definition
|
|
Term
| _ generate large profits and require relatively litte investment to maintain their market share in slow-growth industries |
|
Definition
|
|
Term
| _ are characterized by low profitability and little opportunity for sales growth |
|
Definition
|
|
Term
| a _ is made up of the unique qualities of a product that encourage customer purchase and loyalty |
|
Definition
|
|
Term
| _ is a term that is used to characterize short-sighted marketing strategy. |
|
Definition
|
|
Term
| a _ is an enduring differential advantage held over competitors by offering buyers superior value either through lower prices or other elements of the marketing mix |
|
Definition
| sustainable competitive advantage |
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|
Term
| _ is the systematic process of planning, collecting, analyzing, and communicating information that is relevant to making better marketing decisions |
|
Definition
|
|
Term
|
Definition
what business should we be in ?
how will we compete ?
what are the goals for the business ? |
|
|
Term
| _ focus on how the elements of the marketing mix can be most effectively used |
|
Definition
| marketing plan development |
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|
Term
| _ of plans following implementation may require the collection of either qualitative or quantitative information |
|
Definition
| monitoring the performance |
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|
Term
| the _ is designed to yield reliable and objective answers to specific marketing questions |
|
Definition
| marketing research process |
|
|
Term
| the _ specifies the plan for collecting and analyzing data. |
|
Definition
|
|
Term
| _ is the process of gathering data from selected subgroup (sample) chosen from the population of interest |
|
Definition
|
|
Term
| _ select persons from the designated population at random |
|
Definition
|
|
Term
|
Definition
|
|
Term
| primary v. secondary data |
|
Definition
primary data are information collected specifically for the current research study.
secondary data consists of information that has already been collect for reasons not directly related to the current study |
|
|
Term
| _ is a means of systematically acquiring information from the individuals by communicating directly with them |
|
Definition
|
|
Term
| _ research is an in-person data collection procedure in which the interviewer meets with five to ten persons at the same time |
|
Definition
|
|
Term
| _ is an unobstrusive data collection procedure |
|
Definition
|
|
Term
| _ compares the impact of marketing variables on individuals' responses in a controlled setting |
|
Definition
|
|
Term
| _ is a technique that utilizes computer-based programs to assess the impact of alternative marketing strategies |
|
Definition
|
|
Term
| a _ is made up of the people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute accurate information to marketing decision makers |
|
Definition
| marketing information system (MIS) |
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|
Term
| _ is estimating the demand for a brand or product category |
|
Definition
|
|
Term
| _ typically predict sales for the next month or quarter and are used for production scheduling and evaluating the impact of short-term promotions |
|
Definition
|
|
Term
| _ are typically done annually and provide input to annual marketing plan review and revision |
|
Definition
|
|
Term
| _ are typically done for a five-year period and play a significant role in strategic planning |
|
Definition
|
|
Term
| to achieve the greatest benefit and competitive advantage from target marketing, it is essential that the characteristics used to identify each market be _ |
|
Definition
|
|
Term
| _ are the identifiable characteristics of individuals and groups of people |
|
Definition
|
|
Term
| _ are the indentifiable characteristics of towns, cities, states, regions, and countries. |
|
Definition
|
|
Term
| _ of markets include purchase occasion, user status, user rate, and brand loyalty |
|
Definition
|
|
Term
| _ refer to those factors that influence consumers' patterns of living or lifestyle |
|
Definition
|
|
Term
| in most instances, the total potential market for a product is too diverse or _ to be treated as a single target market. |
|
Definition
|
|
Term
| _ is the process by which the total potential market for a product is divided into smaller parts or segments |
|
Definition
|
|
Term
| the primary advantage to _ is that it allows marketers to better match products to the needs of different customer types |
|
Definition
|
|
Term
| the process of segmenting markets is performed in two steps, what are they ? |
|
Definition
in the first stage, segmentation variables are chosen and the market is divided along those dimensions , identifying groups of consumers who may require separate marketing mixes.
the second step requires profiling the resulting segments. each segment is profiled accordig to its distinctive demographic and behaviorial characteristics |
|
|
Term
| the dimensions or bases used to segment must be _ |
|
Definition
|
|
Term
| the market segment must be _ or _ through existing channels |
|
Definition
|
|
Term
| each segment must be _ to be profitable |
|
Definition
|
|
Term
| the most appropriate _ or _ for segmenting a market will vary from one product to another |
|
Definition
|
|
Term
| buyer behavior can seldom be adequately related to only one segmentation variable, what this segmentation called ? |
|
Definition
| single-variable segmentation |
|
|
Term
| _ recognizes the importance of interrelationships between factors in defining market segments |
|
Definition
| multi-variable segmentation |
|
|
Term
| the decision to focus on one segment as a target market is called a _ |
|
Definition
| single-segment or concentration strategy |
|
|
Term
| the choice to pursue more than one target market with corresponding marketing mixes for each is called _, and is sometimes called |
|
Definition
| multiple segmentation strategy, differentiated marketing |
|
|
Term
| treat the total potential market as a whole is called _. |
|
Definition
| undifferentiated or mass marketing |
|
|
Term
| the primary determinant of how consumers reach purchase decisions is _. |
|
Definition
|
|
Term
| _ is the state of mental anxiety that can be caused by a consumer's uncertainty about a purchase |
|
Definition
|
|
Term
| low involvement decision-making can be characterized as a three stage process, what are they ? |
|
Definition
need or problem recognition
purchase decision
postpurchase behavior |
|
|
Term
| one of the essential differences that separates organizational and consumer markets is _ |
|
Definition
|
|
Term
| _ includes manufacturers, whole-salers, retailers, government agencies, and nonprofit institutions. |
|
Definition
|
|
Term
| based on the purchasing power of buyers rather than the number of buyers |
|
Definition
|
|
Term
| _ is characterized as one of the three types: new-task buying, straight rebuy, or modified rebuy |
|
Definition
|
|
Term
| the _ process is used to purchase inexpensive, low-risk products |
|
Definition
|
|
Term
| _ is the most complex of the three buy classes. requires greater effort in gathering information and evaluating alternatives |
|
Definition
|
|
Term
| _ processes are used when the purchase situation is less complex than new-task buying and more involved than a straight rebuy |
|
Definition
|
|
Term
| _ are individuals who identify suppliers, arrange terms of sale, and carry out the purchasing procedure |
|
Definition
|
|
Term
| _ are people within the firm who will use the product. |
|
Definition
|
|
Term
| _ are individuals who establish product requirements |
|
Definition
|
|
Term
| _ are people within the organization who control the flow of relevant purchase-related information |
|
Definition
|
|
Term
| _ are individuals who makes the final purchase decisions. |
|
Definition
|
|
Term
| the _ is not a specific place or location within an organization. it is an entity comprised of all the people who participate in or influence the decision-making process |
|
Definition
|
|
Term
| products can be classified as either _ or _ depending on their markets. |
|
Definition
| consumer products or industrial products |
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|
Term
| industrial products are sometimes called _ |
|
Definition
|
|
Term
| consumer goods can be further classified into one of three product types, what are they ? |
|
Definition
| convenience, shopping, and specialty |
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|
Term
| _ are goods purchased frequently and with a minimum of shopping effort (low-involvement decision-making) |
|
Definition
|
|
Term
| _ are goods for which consumers typically make price-quality comparisons at several stores before buying (high-involvment decision-making) |
|
Definition
|
|
Term
| _ are goods for which buyers have strong brand loyalty |
|
Definition
|
|
Term
| _ are goods for which no demand exists |
|
Definition
|
|
Term
| what are the categories of industrial/business goods |
|
Definition
raw materials
component materials
fabricated parts
accessory equipment
installations
operating supplies |
|
|
Term
| _, _, and _ are used in the production of finished goods, or become part of them |
|
Definition
raw materials
component materials
fabricated parts |
|
|
Term
| _ and _ are captial goods that are used in the production process |
|
Definition
accessory equipment
installations |
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|
Term
| _ are low-cost items that aid in the production process |
|
Definition
|
|
Term
| _ are tasks performed by one individual or firm for another |
|
Definition
|
|
Term
| services may be classified as either _ or _, depending on the customers served. |
|
Definition
| consumer services or industrial services |
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|
Term
| _, _, and, _ are tendencies that are characteristic of services |
|
Definition
intangible
usually perishable
frequently inseparable |
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|
Term
| the _ consists of those features that can be precisely specified |
|
Definition
|
|
Term
| the _ or _ includes both tangible and intangible elements of a product |
|
Definition
| extended or augmented product |
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|
Term
| a firm's _ consists of a group of set of closely related items |
|
Definition
|
|
Term
| a firm's _ is comprised of all the product lines that a company offers |
|
Definition
|
|
Term
| _ can stem from the modification of exisiting products or the development of wholly new product innovations. |
|
Definition
| new product opportunities |
|
|
Term
| _ is the process of searching for new product opportunities |
|
Definition
|
|
Term
| _ is a small group technique that encourages participants to voice creative ideas on a specified topic |
|
Definition
|
|
Term
| _ takes place after the firm has generated several ideas for new products |
|
Definition
| product screening and concept testing |
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|
Term
| in the _ phase, potential products are sorted relative to their strengths and weaknesses |
|
Definition
|
|
Term
| _ subjects new ideas to consumer scrutiny. |
|
Definition
|
|
Term
| _ is a detailed evaluation of the concept's commercial feasiblity |
|
Definition
|
|
Term
| _ is the stage at which viable ideas are first produced in tangible form and the initial marketing strategy is created |
|
Definition
|
|
Term
| _ and _ are the next two stages in the process for those product concepts that survive the screening and concept test phases. |
|
Definition
| business analysis and product development |
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|
Term
| _ and _ are the final stages in teh process of developing new products. |
|
Definition
| test marketing and commercialization |
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|
Term
| _ provides a series of commercial experiments to test the acceptance of the product and the appropriateness of the proposed marketing strategy |
|
Definition
|
|
Term
| _ marks the start of full-scale production and the implementation of the complete marketing plan |
|
Definition
|
|
Term
| the _ describes the stages that consumers go through in learning about new products. |
|
Definition
|
|
Term
| _ takes place when the buyer decides to continue using the product regularly |
|
Definition
|
|
Term
| the _ describes the typical rate of adoption exhibited by consumers in response to new products |
|
Definition
|
|
Term
| _ are first to buy a product. |
|
Definition
|
|
Term
| _ are next to buy a product |
|
Definition
|
|
Term
| _ represent about 34% of the target market. slightly above average in social and economic standing. |
|
Definition
|
|
Term
| _ represent another 34% and are more resistant to change. |
|
Definition
|
|
Term
| _ make up 16% of the market and are the last to buy |
|
Definition
|
|
Term
| _ is the process of developing a product or brand image in the consumer's mind |
|
Definition
|
|
Term
| _ identify consumers' perception of the perfect bundle or combination of attributes |
|
Definition
|
|
Term
| _ provides the firm with new opportunities for growth |
|
Definition
|
|
Term
| _ is the weeding out process that is usually intended to eliminate products that provide low profits |
|
Definition
|
|
Term
| a _ represents a diversification strategy |
|
Definition
|
|
Term
| _ focus the firm's resources on a smaller number of product lines |
|
Definition
|
|
Term
| _ are created by the product manufacturers. |
|
Definition
|
|
Term
| _ are created by the intermediaries, and are sometimes referred to as "private brands" |
|
Definition
|
|
Term
| _ strategy is used when the same brand is applied to several products. |
|
Definition
|
|
Term
| _ can be assigned to each product there exists significant variation in product type and quality |
|
Definition
|
|
Term
| a _ is a well-established brand name that other sellers pay to use. |
|
Definition
|
|
Term
| _ are brand names, marks, or characters used to identify products. |
|
Definition
|
|
Term
| the three primary functions of product packaging are _. |
|
Definition
protection
promotion
information |
|
|
Term
| _ process includes accumulation, sorting and assorting functions. |
|
Definition
|
|
Term
| _ is the process of assembling and pooling relatively small individual shipments so that they can be transported more economically. |
|
Definition
|
|
Term
| _ is the process of separating goods by quality, color, or size. |
|
Definition
|
|
Term
| _ is typically performed at the retail level. |
|
Definition
|
|
Term
| channel systems that move goods from the producer to the final consumer without using independent intermediaries or "middlemen" are termed _. |
|
Definition
|
|
Term
| those that move goods with the cooperation and assistance of independent intermediaries are _ |
|
Definition
|
|
Term
| _ refers to the number of independent members at one level of the distribution channel |
|
Definition
|
|
Term
| _ refers to the number of levels used to create a distribution channel. |
|
Definition
|
|
Term
| an _ distribution strategy is one in which a firm sells through every potential outlet that will reach its target market |
|
Definition
|
|
Term
| an _ distribution strategy limits the number of outlets employed to one or two intermediaries within each market |
|
Definition
|
|
Term
| in a _ channel of distribution, one firm owns either all channel members or the firms at the next level in the channel |
|
Definition
|
|
Term
| _ arrangements specify performance terms for each independent channel member. |
|
Definition
|
|
Term
| _ arrangements coordinate channel operations thorugh a domininant channel member. |
|
Definition
|
|
Term
| _ is the process of acquiring firms that operate at different channel levels. |
|
Definition
|
|
Term
| _ is the process of acquiring firms that operate at the same channel level |
|
Definition
|
|
Term
| _ exist when a firm develops two or more separate and distinct distribution channels. |
|
Definition
|
|
Term
| _ refers to the ability to influence the actions of other channel members. |
|
Definition
|
|
Term
| _ exists when disagreements arise between members over channel practices and policies. |
|
Definition
|
|
Term
| _ a product through the channel utilizes promotional efforts to secure the cooperation of intermediaries |
|
Definition
|
|
Term
| a _ strategy generates consumer demand for the product as a means of securing support within the channel. |
|
Definition
|
|
Term
| the _ recognizes that minimizing costs and satisfying customer demands can represent conflicting objectives |
|
Definition
|
|
Term
| the _ recognizes that the most effective strategy may be a compromise between minimizing costs and satisfying customer demands. |
|
Definition
| distribution-center concept |
|
|
Term
| _ refers to cost-reducing actions in one distribution function that increase the overall cost of other distribution functions. |
|
Definition
|
|
Term
| _ refers to different customers requiring different levels of service |
|
Definition
| customer service standard |
|
|
Term
| _ refers to the receipt and transmission of sales order information |
|
Definition
|
|
Term
| _ allows a company to integrate other order processing, production, inventory planning, and transportation into a single system. |
|
Definition
| electronic data interchange (EDI) |
|
|
Term
| _ refers to the physical handling of goods in both warehouse and transportation functions. |
|
Definition
|
|
Term
| _ refers to the grouping of boxes on a pallet or skid. |
|
Definition
|
|
Term
| _ is the process of consolidating many items into one container. |
|
Definition
|
|
Term
| _ is the process of designing and operating facilities for both storing and moving goods. |
|
Definition
|
|
Term
| types of warehouses include.. |
|
Definition
private and public warehouses
distribution centers
bonded storage |
|
|
Term
| _ is the average length of time between the customer placing an order and receiving it |
|
Definition
|
|
Term
| _ is the inventory level at which new orders need to be placed to avoid a stockout |
|
Definition
|
|
Term
a _ is shortage of product resulting from carrying too few in inventory
|
|
Definition
|
|
Term
| the rate at which inventory is sold per time period |
|
Definition
|
|
Term
| _ is the amount of extra inventory kept on hand to avoid stockouts |
|
Definition
|
|
Term
| the order size that minimizes the total cost of ordering and carrying inventory |
|
Definition
| economic order quantity (EOQ) |
|
|
Term
|
Definition
| making products and materials available just as needed for production or resale |
|
|
Term
| _ is the means of moving goods from one location to another |
|
Definition
|
|
Term
| what are the five major modes of transportation ? |
|
Definition
railrods
trucks
waterways
airways
pipelines |
|
|
Term
| _ are freight transport companies that provide several shipment modes. |
|
Definition
|
|
Term
| intermodal transportation |
|
Definition
| two or more transportation modes used in combination |
|
|
Term
|
Definition
| specialized agencies that provide alternate forms of transportation coordination |
|
|
Term
| _ consits of all the activities related to the resale of products to organizational buyersm, other wholesalers, and retailers. |
|
Definition
|
|
Term
| _ exists when the product's producer performs the wholesaling functions. |
|
Definition
|
|
Term
| _ are independent firms tht take title and possession of the products they sell. |
|
Definition
|
|
Term
| _ perform the complete range of wholesaling functions |
|
Definition
| full service merchant wholesalers |
|
|
Term
| _ may not provide merchandising or market research assistance. |
|
Definition
| limited service merchant wholesalers |
|
|
Term
| _ are full-service merchant wholesalers that provide the display racks used to merchandise the product. |
|
Definition
|
|
Term
| _ are limited-service merchant wholesalers that buy products from manufacturers and arrange for the delivery to retailers. |
|
Definition
|
|
Term
| _ are independent wholesalers that do not take title for the products they handle |
|
Definition
|
|
Term
| _ act as temporary wholesalers. |
|
Definition
|
|
Term
| _ consists of all the activities related to the sale of products to final consumers for individual or household consumption. |
|
Definition
|
|
Term
| there are three forms of _ that cna be used to classify retailers. |
|
Definition
|
|
Term
| _ are comprised of several (usually 10 or more) stores that are owned and managed by the same firm. |
|
Definition
|
|
Term
| _ provide a collective means of enhancing the market power of individually owned retail units. |
|
Definition
| vertical marketing systems |
|
|
Term
| _ are single retail units that are not affiliated with a corporate chain or cooperative. |
|
Definition
|
|
Term
| _ are a specific type of vertical marketing system. under this form of VMS, the parent company (franchisor) provides franchisees with the legal right to use company trademarks. |
|
Definition
|
|
Term
| _ describes the retail transactions that occur outside of traditional store settings |
|
Definition
|
|
Term
| _ is a function of the target market, location of competitors, and site costs. |
|
Definition
|
|
Term
| a store's _ is comprised of those characteristics that contribute to the consumer's genral impression of the store- its image. |
|
Definition
|
|
Term
| _ takes place as retailers add products that are not related to their traditional lines |
|
Definition
|
|
Term
| _ is a concept that describes the evolution of retail stores |
|
Definition
|
|
Term
| _ is two-way interaction between a marketer and individual consumers to both obtain an immediate response and cultivate lasting customer relationships |
|
Definition
| non-store retailing, direct marketing |
|
|
Term
| _ is comprised of those elements that contribute to the firm's overall communications program. |
|
Definition
|
|
Term
| _ refers to the concept of planning a comprehensive program that coordinates all promotional activities. |
|
Definition
| integrated marketing communications |
|
|
Term
| what are the four Ws that IMC programs specify ? |
|
Definition
who is the target market
what are the objectives
when should the promotions be run
which media should be used |
|
|
Term
| _ may address three goals within the marketing mix. |
|
Definition
|
|
Term
| promotion can be used to _ both intermediaries and end-users about new products. |
|
Definition
|
|
Term
| promotion may also serve to _ buyers about the availability of very well-established products. |
|
Definition
|
|
Term
| _ provide the medium through which promotional messages are sent and delivered. |
|
Definition
|
|
Term
| several techniques can be used to establish promotion _. |
|
Definition
|
|
Term
| _ may result iun poorly encoded/decoded messages or weak audience response. |
|
Definition
|
|
Term
| _ technique allocates a fixed percentage of the previous year's sales for promotional programs. |
|
Definition
|
|
Term
| _ approach establishes a budget based on the actions of the firm's closest competitors. |
|
Definition
|
|
Term
| the _ procedure relies on the matching of promotional objectives to the funding required to achieve specific, objective-related tasks. |
|
Definition
|
|
Term
| _ technique allocates remaining resources to promotional activities. |
|
Definition
|
|
Term
| advertising _ are determined by the marketing strategy for the product or firm. |
|
Definition
|
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Term
| the _ stems from the budget devloped in the Promotion Plan. |
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| two differnt levels of decision making relate to _ : the choice of media type and the selection of specific vehicles within each medium. |
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| _ refers to the percentage of a target audience that is exposed to an ad through a given vehicle, within a specified time frame. |
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| advertising costs are evaluated according to the cost of reaching a thousand prospects through a given vehicle-_ |
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| _ refers to the average number of times that members of the target audience are exposed to an ad through a given vehicle. |
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| _ are calculated by multiplying reach times frequency. |
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Definition
| gross rating points (GRPs) |
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| _ indicate the "total weight" of advertising delivered over a four-week period. |
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| the _ provides the overall concept and theme for an advertising campaign |
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| _ can be assessed by both direct and indirect measures. |
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Definition
| advertising effectiveness |
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| _ are responsible for securing new business for a firm. |
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| _ service customer accounts that have already been established. |
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| there are two types of _ who provide assistance to both the order getters and order takers. |
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| _ foster goodwill and work to maintain productive relationships with intermediaries and their customers. |
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| _ support the efforts of order getters and order takers by providing customers with expert technical assistance. |
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| _, the maximum possible sales within a territory, will vary according to several considerations. |
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| _ to specific territories should attempt to match the talent and ability of salespeople to the characteristics of the customers within the territory. |
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| _ is the sequence of stages that are essential to effective personal selling |
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Definition
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| _ is the process of seeking and identifying prospective buyers or "leads" |
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| In _ the salesperson determines whether the prospect is both willing and able to buy. |
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| the _ takes place prior to meeting with a qualified prospect, when the salesperson must decide how to best initiate a face-to-face meeting |
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| the _ takes place when the seller first meets the prospective buyer. |
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| the _ of the sales message may take the form of a prepared ("canned") presentation or take an interactive (needs-satisfaction) approach. |
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| _ , part of the presentation process, is an important sales skill. |
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| _ is the stage at which the seller tries to gain a purchase commitment from the prospect. |
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| the _ step in the process represents the salesperson's efforts to assure customer satisfaction after the sale |
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| _ sales presentations are memorized messages. |
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Definition
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| _ presentations rely heavily on learning more about each prospect's needs and preferences through direct interaction. |
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| _ refers to formal arrangements between buyers and sellers that create unique, customized products and services for the buyer. |
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| _ refers to those salesperson's activities that are focused on building tires to the customer. |
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| _ refers to how sellers choose to organize their sales force. |
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Term
| companies may have both _ and _ sales forces. |
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Term
| _ conduct bsuiness from their offices via telecommunications media or meet with clients at the seller's location |
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Definition
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Term
| _ travel to make sales calls on customers. |
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Definition
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Term
| _ plans may take one of three basic forms: _, _, or _. |
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Definition
| salesforce compensation; straight salary, straight commission, a combination plan |
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Term
| the _ is a modification of the straight commission plan |
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Definition
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Term
| some employers provide a _ where the salesperson is not obligated to pay back the difference when the draw exceeds commissions earned over a specified period. |
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Term
| ratios are often used in the _ |
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Definition
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Term
| _ is comprised of all paid marketing communications other than advertising, public relations, and personal selling. |
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Definition
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Term
| _ sales promotion includes coupons, contests, sweepstakes, rebates, premiums, refunds, point-of-purchase displays, product samples, trading stamps, cents-off deals, multi-pack offers, demonstrations, free trial offers |
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Definition
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Term
| push money, trade allowances, quantity discounts, sales contests, trade shows, point-of-purchase display materials, trade rebates are all examples of _ incentives. |
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Definition
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Term
| _ refers to one-on-one communications with targeted customers and is aimed primarily at obtaining an immediate response |
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Definition
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Term
| companies engaged in direct marketing collect comprehensive data about customers and prospects in electronic _. |
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Definition
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| _ typically contain information about prior purchase behavior, demographics, psychographics, and geographic data. |
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Definition
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| _ refers to all marketing activities conducted through interactive computer networks or systems that link buyers and sellers. |
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Definition
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| _ is the term used to describe all forms of buying and selling that is supported by electronic means. |
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Definition
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Term
| _ exists when the value of the price elasticity ofdemand formula is less than -1. |
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Definition
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Term
| _ exists when the value of the price elascticity of demand formula is greater than -1. |
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Definition
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Term
| with elastic demand, price decreases will increase demand and _ total revenue |
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Definition
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Term
| if demand is inelastic, an increase in price will produce a decrease in demand and an _ in total revenue. |
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Definition
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Term
| with inelastic demand, price decreases will increase demand and _ total revenue. |
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Definition
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Term
| _ exists when the value of the price elasticity of demand formula is -1. |
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Definition
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Term
| when _ exists, total revenue does not change in response to price increases or decreases. |
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Definition
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Term
| the _ is equal to the _ or non-negative value of the price elasticity of demand formula. |
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Definition
| price elasticity of demand coefficient, absolute value |
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Term
| _ prevents businesses from restraining trade and interstate commerce. |
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Definition
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Term
| _ prohibits any form of price discrimination that has the effect of reducing competition among wholesalers or retailers. |
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Definition
| the robinson-patman act (1936) |
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Term
| _ is a strategy that introduces new products at relatively high prices. |
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Definition
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Term
| _ is an alternative pricing strategy for new product introductions. |
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Definition
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Term
| _ establishes product prices as a function of product costs. |
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Definition
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Term
| _ attempts to set prices based on consumer responses to product prices. |
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Definition
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Term
| _ sets prices according to those charged by the firm's closest competitors. |
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Definition
| competition-based pricing |
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Term
| a _ policy offers the same price to all buyers for purchases of essentially the same quantities in comparable situations. |
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Definition
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Term
| _ permits the seller to charge different prices to different buyers in similar circumstances. |
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Definition
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Term
| _ policies reflect different levels of transportation and other costs related to the physical distance between buyers and sellers |
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Definition
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Term
| _ provides consumers with information on the price per unit on or near the product. |
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Definition
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Term
| with _, a firm's pricing strategy may reflect short-term goals other than profit maximization. |
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Definition
| alternative pricing objectives |
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Term
| _ establishes retail prices that are high , relative to competing brands. |
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Definition
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| _ sets prices just below even dollar values. |
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Term
| what is the marketing era ? |
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Definition
| by the early 1950s, many businesses recognized that efficient production and extensive promotion did not guarantee that customers would buy what was being sold. |
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Term
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Definition
| from the mid- 1920s through the 1950s, the emphasis of the prevailing business philosophy was on sales as the primary menas of increasing. |
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Term
| _ are moral principles that define right and wrong behavior in marketing practice. |
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Definition
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Term
| these _ are intended to eliminate opportunities for unethical behavior that will reflect badly on the organization. |
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Definition
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Term
| ethical models of marketing behavior can be either _ or _ in nature. |
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Definition
| compensatory, uncompensatory |
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Term
| _ are those where the moral right or wrong of an action is determined by the consequences. |
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Definition
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Term
| _ are those that maintain a universally true moral principle with no exceptions. |
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Definition
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Term
| _ refers to the firm's obligations to society. |
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Definition
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Term
| _ refers to the design, development, and marketing of products that do not harm the enviornment. |
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Definition
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Term
| _ is a concept that emphasizes the responsibility of the firm for products after they are disposed of by the consumer. |
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Definition
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Term
| external forces that impact all firms within an industry are termed _. |
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Definition
| macroenvironmental factors |
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Term
| consumers engage in many buying-related _. |
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Definition
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Term
| there are three characteristics that are used exclusively in segmenting nonconsumer markets, what are they ? |
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Definition
| customer type, customer size, and buying situation |
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