Term
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Definition
| All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family or household use |
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Term
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Definition
| Time Utility (The Sports Authority), Place Utility (Wells Fargo), Form Utility (Ralph Lauren), and Possession Utility (Saturn) |
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Term
| Two measures of impact of retailing in the global economy |
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Definition
| The people employed in retailing, total amount of money exchanged in retail sales |
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Term
| Classifications of Retail Outlets |
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Definition
| form of ownership, level of service, and merchandise line |
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Term
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Definition
| Independent Retailer, Corporate Chain, Contractual Systems (business-format franchises and product-distribution franchises) |
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Term
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Definition
| Self-service (Costco), Limited-Service (Kmart), and Full-Service (Nordstrom) |
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Term
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Definition
| Depth of product line (how many brands of products)(Barnes and Noble), Breadth of line (general merchandise stores) |
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Term
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Definition
| Offering several unrelated product lines in a single retail store |
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Term
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Definition
| Automatic Vending, Direct Mail and Catalogs, Television Home Shopping, Online Retailing, Telemarketing, and Direct Selling |
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Term
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Definition
| Using the telephone to interact and sell directly to consumers |
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Term
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Definition
| managers use of the retailing mix |
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Term
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Definition
| Retail Pricing, Store Location, Retail communication, and Merchandise |
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Term
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Definition
| how much should be added to the cost the retailer paid for a product to reach the final selling price |
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Term
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Definition
| the cost added decided by the retailer |
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Term
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Definition
| the difference between the final selling price and retailer cost, also called gross margin |
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Term
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Definition
| discounting a product in response to when the product does not sell at the original price |
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Term
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Definition
| selling brand name merchandise at lower than regular prices |
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Term
| central business district |
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Definition
| community's downtown area |
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Term
| regional shopping centers |
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Definition
| large shopping areas consisting of 50 to 100 stores with large or well-known stores |
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Term
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Definition
| use a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing |
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Term
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Definition
| an approach to managing the assortment of merchandise which maximizes sales and profits |
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Term
| consumer marketing at retail (CMAR) |
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Definition
| research conducted in efforts to identify and mediate problems with the retailing mix |
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Term
| Concepts of Changing Nature of Retailing |
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Definition
| Wheel of Retailing, Retail Life Cycle |
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Term
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Definition
| Outlet starts with low prices, margins and status. As time passes, outlet adds services, then haveing higher prices, margins and status. As more time passes, the outlet adds more services, now having still higher prices, margins and status. New form of outlet enters retailing environment with characteristics of outlet in beginning step |
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Term
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Definition
| Early growth features value-retail centers, online retailers, and single-brand stores. Accelerated Development features single-priced stores, factory outlet stores and warehouse clubs. Maturity features fast-food outlets, convenience stores, supermarkets and department stores. Decline features Catalog retailers, business-distric retailers and general stores. |
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Term
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Definition
| Merchant Wholesalers, Agents and Brokers, and Manufacturer's Branches and Offices |
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Term
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Definition
| Independently owned firms that take title to the merchandise they handle (General vs. Specialty merchandise) |
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Term
| four types of limited-service wholesalers |
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Definition
| Rack Jobbers (hosiery, toys), Cash and carry wholesalers (electric supplies, groceries), Drop shippers (coal, lumber), and truck jobbers (bakery, meat). |
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Term
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Definition
| work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory |
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Term
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Definition
| represent a single producer and are responsible for the entire marketing function of that producer |
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Term
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Definition
| independent firms or individuals whose main function is to bring buyers and sellers together to make sales |
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Term
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Definition
| combination of the communication tools used to inform, persuade, or remind prospective buyers |
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Term
| integrated marketing communications |
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Definition
| concept of designing marketing communications programs that coordinate all promotional activities to provide a consistent message across all audiences |
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Term
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Definition
| process of conveying a message to others |
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Term
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Definition
| Encoding and Decoding, Feedback, and Noise |
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Term
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Definition
| Advertising, Personal Selling, Public Relations, Sales Promotion, and Direct Marketing |
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Term
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Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor |
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Term
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Definition
| two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
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Term
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Definition
| Form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, stockholders, suppliers, employees and others about a company and its products or services |
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Term
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Definition
| Nonpersonal, indirectly paid presentation of an organization, good or service. |
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Term
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Definition
| a short-term offer designed to arouse interest in buying a good or service |
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Term
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Definition
| promotional element that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet |
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Term
| Integrated Marketing Communications (IMC) |
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Definition
| Using the promotional mix to match the target audience, product life cycle, and channel strategies. |
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Term
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Definition
| Promotional programs - ultimate consumer and/or intermediary. Personal selling - at place of purchase. Direct marketing - encourage first time or repeat purchases. |
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Term
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Definition
| Introduction, Growth, Maturity, Decline |
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Term
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Definition
| Promotional objective to inform, all promotional mix elements are used |
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Term
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Definition
| promotional objective to persuade,using advertising to communicate brand differences and personal selling to solidify the channel of distribution |
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Term
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Definition
| promotional objective to remind. Use discounts, coupons, and events to maintain loyal buyers. |
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Term
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Definition
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Term
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Definition
| Push (forcing product through the distribution channel) and Pull (encouraging ultimate consumers to drive distribution) |
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Term
| The Promotion Decision process |
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Definition
| Developing, executing, and assessing the promotion program |
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Term
| Identifying the Target Audience |
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Definition
| the first step of developing the IMC program |
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Term
| Specifying Promotion objectives |
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Definition
| based on the hierarchy of effects |
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Term
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Definition
| sequence of stages a prospective buyer goes through: awareness, interest, evaluation, trial, and adoption |
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Term
| Methods of setting the promotion budget |
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Definition
| Percentage of Sales, Competitive parity, All you can afford, Objective and task |
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Term
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Definition
| some percentage of total sales are dedicated to promotional budget |
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Term
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Definition
| matching competitors absolute level of spending |
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Term
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Definition
| best budgeting style, whereby company determines its promotion objectives, outlines the tasks to accomplish these objectives, and determines the promotion cost of performing these tasks |
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Term
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Definition
| the result of direct marketing offers that contain all the information necessary for a potential buyer to make a decision to purchase and complete the transaction |
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Term
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Definition
| result of direct marketing offer designed to generate interest in a product or a service and a request for additional information |
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Term
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Definition
| outcome of direct marketing offer designed to motivate people to visit a business |
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Term
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Definition
| Product advertisements and Institutional Advertisements |
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Term
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Definition
| Advertisements that focus on selling a good or service; forms include pioneering (informational), competitive (persuasive), and reminder |
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Term
| Institutional Advertisements |
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Definition
| Advertisements designed to build goodwill or an image for an organization, rather than promote a specific good or service |
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Term
| 4 forms of Institutional Ads |
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Definition
| Advocacy (tobacco companies disuading teens), Pioneering, Competitive (Got Milk?), Reminder (Army) |
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Term
| 3 types of advertising appeals |
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Definition
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Term
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Definition
| See the Brand, See the Problem, See the Next Step |
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