Term
| direct marketing framework? |
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Definition
| purpose >> Impact on value creation >> advantages/disadvantages |
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Term
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Definition
connecting directly with targeted customers,
- 1 to 1, no intermediaries
- interactive
- e-commerce marketing is fastest growing segment |
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Term
| major forms of direct marketing |
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Definition
1. direct mail
2. catalog
3. telemarketing
4. direct response television
5. kiosk
6. online marketing |
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Term
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Definition
access to variety of products
wealth of comparative info between products
immediate and interactive
greater measure of control |
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Term
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Definition
target small groups or individuals
low cost, efficient, and speedy
lower costs and more efficient
build closer customer relationships
sellers have access to buyers they couldn't reach through other channels (Ex: location restrictions) |
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Term
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Definition
B2B: biz to biz : business customers
C2C: cust to cust ex: ebay
B2C: biz to cust, traditional |
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Term
| supply chain and channels framework |
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Definition
| purpose >> impact on value creation >> basic decisions |
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Term
| channels in relation to essence of mkt |
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Definition
DELIVER value
- essence of mkt: form connections/relationships, deliver, capture value to generate exchange |
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Term
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Definition
set of interdependent groups working together to make a product or service available for purchase
- customers need a channel to physical get their hands on the product |
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Term
| what does a chennel create? |
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Definition
time and place utility
- everything it takes to get a product or service to the customer |
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Term
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Definition
| organization, intensity, structure, member selection, and management |
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Term
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Definition
| logistics, order processing, inventory management, and customer service |
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Term
| Channel organization (purpose) |
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Definition
| specifies the legal structure between members of a distribution channel and administration |
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Term
| channel intensity (purpose) |
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Definition
| refers to the number of locations through which a company sells its products Ex: stride gum - high intensity vs. construction machine - low intensity |
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Term
| Intensity options (with distribution) |
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Definition
intensive - convenience goods Ex: stride gum
selective - Ex: Prada purse
exclusive - Ex: forklift |
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Term
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Definition
| # of distinct distroubtion channels used by an organization and the # of distinct units(producers, intermediaries, customers) in a given distribution channel |
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Term
channel member selection
- purpose
- definition |
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Definition
- the type of intermediary that will deliver the product to the customer
- deals with relationship and execution of strategy |
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Term
| channel member altneratives |
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Definition
1. wholesalers: merchant, full service, agent broker, man-u rep.
2. retailers: store, direct marketing, internet |
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Term
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Definition
taking the product directly to the consumer via any means, ensure the customer if aware of your brand at the point of purchase, taking the product to the customer
Ex: trade show, direct selling, packaging to encourage purchase |
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Term
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Definition
Motivating customers to seek out your brand, geting the customer to come to you, customer has need and it is pulled through the supply chain
Ex: word of mouth referal, sales promotion/discounts, customer relationship management |
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Term
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Definition
| sell products or services to customers who resale them or use them for commercial purposes |
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Term
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Definition
| executes universal marketing function, impact value creation, through time and place utilities |
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Term
| decision criteria for wholesalers |
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Definition
universal marketing function
- customer priorities, market efficiencies and effectiveness
competitive advantages
product line or mix |
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Term
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Definition
sell or rent products to end user
- contribute to functional, symbolic and experiential values |
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Term
| retailer decision criteria |
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Definition
interactions and environment
costs
positioning and image |
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Term
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Definition
important for marketing, recovers costs, establishes value, desired mkt position,
- influenced by market, costs, financial, legal and customer factors |
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Term
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Definition
how price will impact strategic objectives
1. profit 2. volume 3. competitive 4. relationship |
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Term
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Definition
what will be used to actually calculate the specific price that will be assigned
- cost based
- demand based
- value based |
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Term
pricing strategies
- 3 options |
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Definition
how prices will be initiated and changed over life cycle
1. skimming 2. penetration 3. competitive |
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Term
| pricing options (selection criteria) |
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Definition
| stage in life cycle, length of life cycle, # of competitors, lead time/comp. advt. economies of scale, nature of demand |
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Term
| Push and pull strategies relationship to pricing |
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Definition
| they are used to coordinate value creation from pricing, promotion and distribution |
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Term
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Definition
| enetration pricing includes setting the price low with the goals of attracting customers and gaining market share |
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Term
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Definition
| goods are sold at higher prices so that fewer sales are needed to break even |
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Term
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Definition
| keeping prices at or below competitors |
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Term
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Definition
| companies develop product lines than single products |
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Term
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Definition
| how to price a line of products based on cost differences, customer perception of value and different features |
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Term
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Definition
change price as a response to competitor
- match competitor price keep quality
- maintain price raise value
- improve quality, increase price
- launch lower priced brand/line |
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Term
| what would lead a firm to cut its price? |
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Definition
| excess capacity, falling demand, dominate mkt through lower cost to gain mkt share |
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Term
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Definition
| seller must set prices without talking with competitors - this is collusion |
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Term
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Definition
| selling below cost with the intention of putting a competitor out of business |
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Term
| (discriminatory pricing) robinson-patman act |
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Definition
| prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers for items of the same quality |
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