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| process of determining what a company will receive in exchange for its products |
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| the goals that sellers hope to achieve in pricing products for sale |
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| company's percentage of the total industry sales for a specific product type |
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| pricing that considers the firm's desire to make a profit and its need to cover production costs |
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| amount added to an item's purchase cost to sell it at a profit |
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| cost that changes with the quantity of a product produced and sold |
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| cost that is incurred regardless of the quantity of a product produced and sold |
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| for a particular selling price, assessment of the seller's costs versus revenues at various sales volumes |
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| sales volume at which the seller's total revenue from sales equals total costs (variable and fixed) with neither profit nor loss |
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| setting an initially high price to cover new product costs and generate a profit |
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| setting an initially low price to establish a new product in the market |
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| setting a limited number of prices for certain categories of products |
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| pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices |
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| psychological pricing tactic based on premise that customers prefer prices not stated in even dollar amounts (ex: $9.99 over $10.00) |
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| price reduction offered as an incentive to purchase |
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| combination of distribution channels by which a firm gets its products to end users |
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| individual or firm that helps to distribute a product |
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| intermediary who sells products to other businesses for resale to final customers |
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| intermediary who sells products directly to consumers |
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| network of interdependent companies through which a product passes from producer to end user |
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| distribution channel in which a product travels from producer to consumer without intermediaries |
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| independent intermediary who generally deals in the related product lines of a few producers and forms long-term relationships to represent those producers and meet the needs of many customers |
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| independent intermediary who matches numerous sellers and buyers as needed, often without knowing in advance who they will be |
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| large product-line retailer characterized by organization into specialized departments |
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| large product-line retailer offering a variety of food and food-related items in specialized departments |
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| retail store carrying one product line or category of related products |
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| retailer carrying a wide range of products at bargain prices |
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| bargain retailer that generated large sales volume by offering goods at substantial price reductions |
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| bargain retailers in which customers place orders for catalog items to be picked up at on-premises warehouses |
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| bargain retailer owned by the manufacturer whose products it sells |
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| bargain retailer offering large discounts on brand-name merchandise to customers who have paid annual membership fees |
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| retail store offering easy accessibility, extended hours, and fast service |
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| direct-response retailing |
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| form of nonstore retailing in which firms directly interact with customers to inform them of products and to receive sales orders |
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| mail order (catalog marketing) |
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| form of nonstore retailing in which customers place orders for catalog merchandise received through the mail |
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| form of nonstore retailing in which the telephone is used to sell directly to consumers |
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| form of nonstore retailing typified by door-to-door sales |
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| e-intermediary (middleman) in the internet distribution channel that assists users in finding products and prices but does not take possession of products |
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| nonstore retailing in which information about the seller's products and services is connected to consumers' computers, allowing consumers to receive the information and purchase the products in the home |
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| nonstore retailing in which the internet is used to display products |
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| commercial website at which customers gather information about products and buying opportunities, place orders, and pay for purchases |
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| collection of virtual storefronts (business websites) representing a variety of products and product lines on the internet |
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| nonstore retailing that uses a website to provide real-time sales and customer service |
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| nonstore retailing to consumers via home television |
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| activities needed to move a product efficiently from manufacturer to consumer |
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| physical distribution operation concerned with the storage of goods |
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| warehouse owned by and providing storage for a single company |
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| independently owned and operated warehouse that stores goods for many firms |
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| aspect of the marketing mix concerned with the most effective techniques for communicating information about and selling a product |
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| process of establishing an identifiable product image in the minds of consumers |
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| combination of tools used to promote a product |
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| promotional tool consisting of paid, nonpersonal communication used by an identified sponsor to inform an audience about a product |
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| variety of communication devices for carrying a seller's message to potential customers |
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| combination of advertising media chosen to carry a message about a product |
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| promotional tool in which a salesperson communicates one-on-one with potential customers |
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| personal-selling task in which salespeople receive orders and see to their handling and delivery |
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| personal-selling task in which salespeople try to persuade buyers to purchase products by providing information about their benefits |
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| personal-selling task in which salespeople promote their firms and products rather than try to close sales |
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| short-term promotional activity designed to encourage consumer buying, industrial sales, or cooperation from distributors |
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| sales-promotion technique in which a certificate is issued entitling the buyer to a reduced price |
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| sales-promotion technique in which offers of free or reduced-price items are used to stimulate purchases |
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| point-of-sale (POS) display |
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| sales-promotion technique in which product displays are located in certain areas to stimulate purchase or to provide information on a product |
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| sales-promotion technique in which various members of an industry gather to display, demonstrate, and sell products |
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| promotional tool in which information about a company, a product, or an event is transmitted by the general mass media to attract public attention |
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| company-influenced information directed at building goodwill with the public or dealing with unfavorable events |
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