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Marketing Exam #2
UNL Graduation MBA Program Marketing Intro
222
Marketing
Graduate
07/07/2016

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Cards

Term
Market Leader (40%)
Definition
largest market share, leads price changes, new product introductions, distribution coverage, and promotional intensity
Term
Challenger (30%)
Definition
Attempting to take over market leader. Powerade compared to market leader Gatorade.
Term
Follower (20%)
Definition
Follows behind others and generally doesn't innovate itself. Not incurring high costs but can still get profits.
Term
Nicher (10%)
Definition
Picks up what the market leaders and those attempting to be market leaders leave behind.
Term
How can total market demand be expanded?
Definition
1. New Customers (existing market penetration, new market, and geographic expansion)
2. More Usage (additional opportunities or new ways to use the brand)
Term
List of Defenses against marketing strategies? (6)
Definition
Position Defense, Flank Defense, Preemptive Defense, Counteroffensive Defense, Mobile Defense, and Contraction Defense
Term
Position Defense
Definition
Occupy the most desirable position in consumers mind.
Term
Flank Defense
Definition
Have a separate brand to protect the main brand's weak spots. DeWalt and Black & Decker.
Term
Preemptive Defense
Definition
Attack first instead of waiting. You can also announce new products before they are released so competitors will more likely more in another direction to avoid the competition.
Term
Counteroffensive Defense
Definition
If a competitor attacks a brand, you can attack them somewhere else to hurt them. Use a different brand to attack their weak spots.
Term
Mobile Defense
Definition
Move to new territories or industries. Like diversification.
Term
Contraction Defense
Definition
Give up weaker markets and focus resources on stronger ones.
Term
List of market challenger strategies. (5)
Definition
Frontal Attack, Flank Attack, Encirclement Attack, Bypass Attack, and Guerilla Attack
Term
Frontal Attack
Definition
Match the opponent's product, advertising, price, and distribution. Sometimes they compete with a lower price if they can convince consumers the quality is still equal.
Term
Flank Attack
Definition
Identifying shifts that cause gaps to develop in the market and then fill the gaps. Good for challengers with few resources
Term
Encirclement Attack
Definition
Capture a wide slice of territory with a grand offensive. Works when challengers has superior resources.
Term
Bypass Attack
Definition
Attack easier markets instead of where the competitor is. Done by: diversifying into unrelated products, diversifying into new geographical markets, and leapfrogging into new technologies. (pepsi starting Aquafina)
Term
Gurrilla Attack
Definition
Small, intermittent attcks, conventional and unconventional. Price cuts, improved products, wider variety, innovative distribution. They must all work for entire strategy to work bc all on a small scale individually.
Term
List of market follower strategies. (3)
Definition
Cloner, Imitator, Adapter.
Term
Cloner
Definition
Emulates leaders products, name, and packaging with slight variations (cereals)
Term
Imitator
Definition
Copies some things but differentiates on packaging, advertising, pricing, or location.
Term
Adapter
Definition
Takes the leader's products and adapts or improves them.
Term
Product Life Cycles
Definition
Introduction, Growth, Maturity, Decline
Term
Introduction Product Cycle
Definition
Slow sales growth, profits are nonexistent because of heavy expenses of product introduction.
Term
Growth Product Cycle
Definition
Rapid Market acceptance and substantial profit improvement
Term
Maturity Product Cycle
Definition
A slowdown in sales growth because the product has achieved acceptance by most buyers. Profits stabilize or decline bc of competition.
Term
Decline Product Cycle
Definition
Sales show a downward drift and profits erode.
Term
Marketing Strategies for Introduction Cycle
Definition
Vision of a mass market, persistence, relentless innovation, financial commitment, and asset leverage.
Term
Marketing Strategies for Growth Cycle
Definition
Improve quality, add features, new models, flanker products, enter new markets, increase distribution, shift from awareness to preference and loyalty communications and marketing, lowers prices to attract the next layer of price-sensitive buyers
Term
Marketing Strategies for Maturity Cycle
Definition
Modify market by increasing brand users or usage rate, improve quality or features or style, modify price or distribution
Term
Marketing Strategies for Decline Cycle
Definition
Eliminate weak products, harvesting (reduce cost with maintained sales), divest (sell to another firm)
Term
Five Product Levels
Definition
1. Core Benefit
2. Basic Product
3. Expected Product
4. Augmented Product
5. Potential Product
Term
Core Benefit
Definition
what customer is really buying. Hotel = Rest and Sleep
Term
Basic Product
Definition
Turn core benefit into something. Hotel room as a bed, bathroom and towels.
Term
Expected Product
Definition
Attributes and conditions to expect to come with the product. Hotel= clean bed and fresh towels.
Term
Augmented Product
Definition
Exceeds customer expectations. Where brand positioning takes place.
Term
Potential Product
Definition
All possible augmentations and transformations that may happen.
Term
Classifications of Products
Definition
Durable, Nondurable, services, shopping goods, specialty goods, unsought goods, materials and parts, capital items, and supplies and business services.
Term
Nondurable Goods
Definition
Beer, shampo
Term
Durable Goods
Definition
Car, Clothing
Term
Services
Definition
intangible, inseparable, variable, and perishable.
Term
Convenience goods
Definition
purchased frequently , immediately, and with minimal effort.
Term
Shopping Goods
Definition
compared on basis of suitability, quality, price, and style.
Term
Specialty Goods
Definition
Unique characteristics or brand identification for which enough buyers are willing to make a special purchasing effort. Cars
Term
Unsought goods
Definition
Consumer doesn't know about or normally think of buying. Like life insurance.
Term
Materials and Parts
Definition
Goods that enter the manufacturing process. Either raw materials or manufactured parts.
Term
Capital Items
Definition
Long-lasting goods that facilitate developing or managing the finished product. Buildings.
Term
Supplies and business services
Definition
Short-term goods and services that facilitate developing or managing the finished product. Maintenance and repair items.
Term
Product Line Analysis: Sales and Profits
Definition
Know what products in the product line make up the majority of your sales and profit and protect them heavily.
Term
Product Line Analysis: Market Profile and Image
Definition
Manage how the product line is positioned against competitor's lines using a product map.
Term
Product Line Length
Definition
Expand product line to different price points and products to capture market share. The higher marketshare you want, the longer the product line should be. Those focused on profitability will carry shorter lines.
Term
Product Line Stretching
Definition
Lengthening the product line beyond current range either up or down market based on price.
Term
Product Line Filling
Definition
Adding more items inside current range to get incremental profits, utilize excess capacity. Be cafeful of cannibalization and customer confusion.
Term
Line Modernization, featuring and pruning
Definition
Should you modernize the product line overtime or all at once? Must time improvements as not to damage current line but not to let competitors gain advantage.
Term
Co-branding
Definition
two or more well-known brands are combined into a joint product or marketed together in some fashion. Trix Yogurt, or even TacoBell/KFC
Term
Ingredient Branding
Definition
Type of co-branding. Creates brand equity for materials, components, or parts that are contained within other branded products. Host products without strong brands can use this. Like GORE-TEX gloves. Northface, timberland, and columbia do this.
Term
Requirements for Ingredient Branding
Definition
1. Ingredient matters to performance.
2. Not all ingredient brands are the same.
3. Distinctive symbol or logo to seal the product.
4. Coordinate pull and push program to help consumers understand the advantages of the branded ingredient.
Term
List the categories of services
Definition
Pure tangible good, tangible good with accompanying services, A hybrid, a major service with accompanying minor goods and services, a pure service.
Term
A pure tangible good
Definition
Soap, or salt. No accompanying services.
Term
Tangible good with accompanying service
Definition
A car or computer with a warranty or service contract.
Term
Hybrid
Definition
Equal parts good and service like a restaurant.
Term
Major service with accompanying minor goods and services
Definition
Air travel with food and drinks
Term
Pure Service
Definition
A massage or babysitting
Term
List the characteristics of services
Definition
Intangibility, inseparability, variability, and Perishability
Term
Intangibility
Definition
You can't touch or see what you are buying so the company tries to use slogans and signs to get their point across.
Term
Inseparability
Definition
The service cannot be stored. It happens as it is being manufactured.
Term
Variability
Definition
You have different people in different environments performing services so each time it will be different
Term
Perishability
Definition
They cannot be stored so fluctuating demand can be an issue
Term
Service Quality Model pg. 419
Definition
Memorize
Term
Gap between consumer expectation and management perception
Definition
Management does not correctly perceive what customers want. Mgmt thinks patients want better food when they want faster nursing service.
Term
Gap between management perception and service quality specification
Definition
Management correctly perceives customer wants but not set a performance standard. Mgmt tells nurses to give faster service but doesn't set standard.
Term
Gap between service-quality specifications and service delivery
Definition
Employees just not meeting the standard bc of training or unwillingness.
Term
Gap between service delivery and external communication
Definition
Consumer expectations are affected by statements made by company representatives and ads.
Term
Gap between perceived and expected service.
Definition
Consumer may misperceive the service quality.
Term
Five determinants of service quality pg. 420
Definition
Reliability, Responsiveness, Assurance, Empathy, Tangibles
Term
Ways of organizing for New Product Development
Definition
Cross-Functional Team (Venture teams, skunkworks, and communities of practice), Crowdsourcing, Stage-Gate systems,
Term
Types of Cross-Functional Teams for organizing New Product Development
Definition
Venture Teams, Skunkworks, and Communities of Practice
Term
Venture Teams
Definition
cross-functional groups charged with developing a specific product or business
Term
Skunkworks
Definition
informal workplaces, like garages, where intrapreneurially teams work to develop a new product.
Term
Communities of practice
Definition
housed on internal websites where employees from different departments are encouraged to share knowledge and skills with others
Term
Steps of the New Product Development decision process (8) pg. 437
Definition
1. Idea Generation
2. Idea Screening
3. Concept development and testing
4. Marketing strategy development
5. Business Analysis
6. Product Development
7. Market Testing
8. Commercialization
Term
Ways to generate NPD ideas.
Definition
Interacting with employees, interacting with outsiders, studying competitors, and adopting creativity techniques
Term
List of creativity techniques
Definition
Attribute listing, forced relationship, morphological analysis, reverse-assumption analysis, new contexts, and mind mapping
Term
Attribute listing
Definition
List all the attributes of an object and modify each of them
Term
Forced relationship
Definition
list several ideas and consider each in relationship with each other.
Term
Morphological Analysis
Definition
Start with a problem and then think of dimensions, the medium, and the power source.
Term
Reverse-assumption analysis
Definition
List all the normal assumptions about an entity and then reverse them
Term
New contexts
Definition
Take familiar processes and put them into new context.
Term
Mind Mapping
Definition
start with an idea and then think of the next idea that comes up and keep going until you get an idea
Term
Concept Testing
Definition
presenting the product concept o target consumers physically or symbolically and getting their reactions.
Term
Conjoin Analysis
Definition
a method for deriving the utility values that consumers attach to varying levels of a products attributes.
Term
Alpha testing
Definition
tests the product within the firm to see how it performs in different applications
Term
Beta Testing
Definition
testing with customers
Term
Consumer Adoption Process (5 steps) pg. 454
Definition
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. Adoption
Term
Adopter Groups (5)
Definition
Innovators, Early Adopters, Early Majority, Late Majority, and Laggards
Term
Early Adopters
Definition
Opinion leaders 13.5% who search for new tecnologies
Term
Early Majority
Definition
Pragmatists who adopt the new technology when its benefits have been proven
Term
Late Majority
Definition
Skeptical conservatives
Term
Laggards
Definition
Tradition-bound and resistant
Term
List of pricing objectives(6)
Definition
Survival, Max. Current Profit, Max. Market Share, Max. Market Skimming, Product-Quality Leadership, Other Objectives
Term
Survival Pricing
Definition
Plagued with overcapacity, intense competition, or changing consumer wants. Just need to make sure pricing covers variable and some fixed costs
Term
Max. Current Profit
Definition
Estimate demand and cost with alternative prices and choose the price that produces max. current profit. Demand and cost difficult to estimate. May sacrifice long-run performance.
Term
Max. Market Share
Definition
Higher sales volume leads to lower unit costs and higher long-run profit. Set lowest price. Works when highly price sensitive, low price stimulates growth, costs fall with accumulated production, and low price discourages competitors
Term
Max. Market Skimming
Definition
Higher prices for new technology. Price starts high and drops over time. Like the iphones
Term
Product-Quality Leadership
Definition
Turning products into affordable luxuries.
Term
Ways to estimate demand curves
Definition
Surveys, Price experiments, statistical analysis
Term
Price indifference band
Definition
price changes have little or no effect
Term
Accumulated Production
Definition
Average costs fall with accumulated production experience based off learning curves.
Term
Target Costing
Definition
You find out the price you can charge and then subtract the profit margin you want to end with your target cost. Then you try to get that cost.
Term
List the different pricing methods (7)
Definition
Markup Pricing, Target-Return Pricing, Perceived-Value Pricing, Value Pricing, EDLP, Going-Rate Pricing, and Auction-Type Pricing
Term
Markup Pricing
Definition
Adding markup to the products cost
Term
Target-Return Pricing
Definition
Determine price that yields the target rate of return on investment.
Term
Perceived-Value Pricing
Definition
Segment all the value it brings and add them all together
Term
Value Pricing
Definition
Reengineering the company's operations to become a low-cost producer without sacrificing quality.
Term
EDLP (Every Day Low Pricing)
Definition
Constant low price with little or no price promotion or sales
Term
Going-rate Pricing
Definition
Prices based on competitors prices
Term
Auction-Type Pricing
Definition
English Auction (Ascending Bids), Dutch Auction (Descending bids), and Sealed-bid auction
Term
Know how to calculate markup pricing, target-return pricing , and break-even volume
Definition
Term
Accumulated Production
Definition
Average costs fall with accumulated production experience based off learning curves.
Term
Target Costing
Definition
You find out the price you can charge and then subtract the profit margin you want to end with your target cost. Then you try to get that cost.
Term
List the different pricing methods (7)
Definition
Markup Pricing, Target-Return Pricing, Perceived-Value Pricing, Value Pricing, EDLP, Going-Rate Pricing, and Auction-Type Pricing
Term
Markup Pricing
Definition
Adding markup to the products cost
Term
Target-Return Pricing
Definition
Determine price that yields the target rate of return on investment.
Term
Perceived-Value Pricing
Definition
Segment all the value it brings and add them all together
Term
Value Pricing
Definition
Reengineering the company's operations to become a low-cost producer without sacrificing quality.
Term
EDLP (Every Day Low Pricing)
Definition
Constant low price with little or no price promotion or sales
Term
Going-rate Pricing
Definition
Prices based on competitors prices
Term
Auction-Type Pricing
Definition
English Auction (Ascending Bids), Dutch Auction (Descending bids), and Sealed-bid auction
Term
Know how to calculate markup pricing, target-return pricing , and break-even volume
Definition
Term
Push Strategy
Definition
Manufacturer uses sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users.
Term
Pull Strategy
Definition
Manufacturer uses advertising, promotion, and other forms of communications to persuade consumers to demand the product from intermediaries, thus inducing them to order the product.
Term
Multichannel marketing
Definition
Using two or more marketing channels to reach customer segments in one market area
Term
Omnichannel Marketing
Definition
using multiple channels together to match each target customer's preferred way of doing business. Online and physical stores
Term
Integrated Marketing Channel System
Definition
Strategies and tactics of selling through one channel reflect the strategies and tactics of selling through other channels.
Term
Value Network
Definition
a system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings. Understand the entire supply chain.
Term
Demand Chain planning
Definition
The company first thinks of the target market and then designs the supply chain backwards from that point
Term
What are the channel levels?
Definition
0-level, 1-level, 2-level, 3-level
Term
Zero-Level Channel aka Direct marketing Channel
Definition
manufacturer sells directly to he final customer.Mail order, door-to-door sales
Term
One-Level Channel
Definition
One selling intermediary, like a retailer.
Term
Two-level channel
Definition
Two intermediaries, a retailer and a wholesaler.
Term
Three-Level Channel
Definition
Three intermediaries, Wholesalers sell to jobbers (small wholesalers), who sell to small retailers.
Term
Jobbers
Definition
Smaller retailers
Term
Exclusive Distribution
Definition
Severely limits the number of intermediaries. Used when you want to show more knowledgeable and dedicated efforts. New Car Salesman
Term
Selective Distribution
Definition
Only some of the intermediaries willing to carry a particular product. Gain market share with more control and less cost of having too many outlets.
Term
Intensive Distribution
Definition
Places goods or services in as many outlets as possible. Snack foods.
Term
List the different sources of channel power (5)
Definition
Coercive, Reward, Legitimate, Expert, and Referent
Term
Coercive Power
Definition
Manufacturer threatens to withdraw resource if intermediaries fail to cooperate.
Term
Reward Power
Definition
Manufacturer offers intermediaries extra benefit for performing specific acts or functions. (better than coercive)
Term
Legitimate Power
Definition
Manufacturer requests a behavior that is warranted under contract.
Term
Expert Power
Definition
Manufacturer has special knowledge the intermediaries value.
Term
Referent power
Definition
Manufacturer is so highly respected that intermediaries are proud to be associated with it.
Term
List Vertical Marketing Systems
Definition
Corporate, Administered, Contractual, and The New Competition in Retailing.
Term
Conventional marketing channel
Definition
Independent producer, wholesaler and retailer
Term
Vertical Marketing system
Definition
Includes the producer, wholesaler, and retailer acting as a unified system.
Term
Corporate Vertical Marketing Systems
Definition
combines successive stages of production and distribution under single ownership.
Term
Administered Vertical marketing System
Definition
Coordinates successive stages of production and distribution through the size and power of one of the members.
Term
Contractual Vertical Marketing Systems
Definition
independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain economies of scale.
Term
Wholesaler-sponsored voluntary chain
Definition
Wholesalers organize voluntary chains with retailers to standardize their selling practices and achieve buying economies
Term
Retailer cooperatives
Definition
Retailers take the initiative and organize a new business entity to carry on wholesaling and maybe production
Term
Franchise Organizations
Definition
Links several successive stages in the production distribution process.
Term
What are the three types of retailers?
Definition
Store, Nonstore, and Corporate Retailing and Franchising
Term
What are the four levels of service for store retailers?
Definition
Self-service, Self-Selection, Limited Service, and Full Service.
Term
The Four major categories of nonstore retailing
Definition
Direct marketing (telemarketing), Direct Selling (Avon), Automatic Vending (Soft drinks), and Buying Service (when corporations buy supplier and negotiate discounts).
Term
What types of marketing decisions need to be made? (10)
Definition
Target Market, Channels, Product Assortment, Procurement, Prices, Services, Store Atmosphere, Store Activities and Expereinces, Communication and Location
Term
Target Market
Definition
Who are your core customers?
Term
Channels
Definition
What channels to use to reach customers. (brick-and-mortar, internet, virtual malls)
Term
Product Assortment
Definition
This much match consumers shopping expectations in breadth and depth.
Term
Procurement
Definition
Merchandise sources, policies, and practices.
Term
Prices
Definition
High markup low volume or low markup high volume.
Term
Private-Label Brand
Definition
a brand that retailers and wholesalers develop.
Term
Difference between Private Label and Generics
Definition
Generics are unbranded, plainly packages, and less expensive versions of common products like paper towels and spaghetti
Term
Slotting Fee
Definition
what super markets charge for shelf space when accepting a new brand to cover cost of listing and stocking it
Term
Wholesaling
Definition
Selling goods or services to those who buy for resale or business use.
Term
Types of wholesalers (6)
Definition
Merchant, Full-Service, Limited-Service, Brokers and Agents, Manufacturers and retailer's branches and offices, and Specialized wholesalers
Term
Merchant Wholesalers
Definition
Independent businesses that take title of the merchandise they handle.
Term
Full-Service Wholesaler
Definition
Carry stock, maintain sales force, offer credit, make deliveries, provide management assisstance
Term
Limited-Service Wholesalers
Definition
cash and carry wholesalers sell a limited line of fast-moving goods.
Term
Brokers and Agents
Definition
Facilitate buying and selling for commission.
Term
Manufacturers and retailers branches and offices
Definition
Wholesaling conducted by sellers or buyers themselves.
Term
What are the 8 major modes of communication that make up the marketing communications mix?
Definition
1. Advertising
2. Sales Promotion
3. Events and Experiences
4. Public Relations and Publicity
5. Online and social media marketing
6. Mobile marketing
7. Direct and database marketing
8. Personal Selling
Term
Macromodel of the Communications Process
Definition
Senders encode a message into media that is then decoded by the receiver who responses to the message and give feedback. All the while, noise may distort any one of these steps. pg. 563
Term
Micromodel of the Consumer Responses
Definition
Four classic response models that concentrate on how consumer specific responses.Buyer passes through cognitive, effective, and behavioral stages in that order. Learn, Feel, Do
Term
AIDA Model of micromodel consumer response
Definition
Company needs to determine what its target market knows about it and what its goals are. Then it selects if it wants them to be aware, knowledgeable, liking, preference, conviction, or purchasing behavior.
Term
List the communication objectives
Definition
establish need for category, build brand awareness, build brand attitude, and influence brand purchase intention
Term
Establish need for category objective
Definition
Establish the product as satisfying a discrepancy between a current and desired motivational state.
Term
Build brand awareness objective
Definition
Foster consumers ability to recognize the brand enough to make a purchase.
Term
Build brand attitude objective
Definition
Help consumers evaluate the brand's ability to meet a need.
Term
Influence brand purchase intention objective
Definition
moving consumers to decide to purchase the brand or take purchase related action.
Term
Two types of creative strategies
Definition
Informational and transformational
Term
Informational Strategy
Definition
elaborates on product or service attributes or benefits. (what a product does)
Term
Transformational Appeals
Definition
Elaborate on a nonproduct-related benefit or image. (what kind of people use a product)
Term
Message source attributes (3)
Definition
Expertise, trustworthiness, and likability
Term
Expertise
Definition
specialized knowledge the communicator possesses to back the claim
Term
Trustworthiness
Definition
How objective and honest the source is perceived to be
Term
Likability
Definition
Describes the source's attractiveness.
Term
Methods for establishing a communications budget (5)
Definition
Affordable method, percentage-of-sales method, competitive-parity method, and objective-and-task method.
Term
Competitive-parity method for communication budgeting
Definition
setting budget based on competitors to have an equal voice
Term
Objective-and-task method of communication budgeting
Definition
Marketers develop communications budgets by defining specific objectives, identifying the tasks needed to reach those objectives, and then estimating the cost of each task.
Term
List the different advertising objectives (4)
Definition
Informative, persuasive, reminder, and reinforcement.
Term
Informative Advertising
Definition
aims to create brand awareness and knowledge.
Term
Persuasive Advertising
Definition
Aims to create liking, prefernce, convistion, and purchase of a product.
Term
Reminder Advertising
Definition
Aims to stimulate repeat purchase of products and services.
Term
Reinforcement Advertising
Definition
Aims to convince current purchases they made the right choice.
Term
Benefits of Television Ads
Definition
most powerful, reaches broad spectrum at low cost. Benefit of imagery too.
Term
Benefits of Print Ads
Definition
Consumed at the readers own pace. More detailed product information. Hard to show dynamic presentations.
Term
Benefits of Radio ads
Definition
Very flexible. easy to target specific audience.
Term
Three decisions when choosing media
Definition
Reach, Frequency, and Impact
Term
Media Selection
Definition
Finding the most cost-effective media to deliver a desired number and type of exposures to the target audience.
Term
Reach of media
Definition
number of different persons exposed to a media schedule at least once during a time period.
Term
Frequency of media
Definition
Number of times within a period of time an average person is exposed to media
Term
Impact of media
Definition
Qualitative value of an exposure through given medium.
Term
Advantages and disadvantages of media types
Definition
pg. 594 table
Term
Forward Buying
Definition
Retailers buy a greater quantity during the deal period than they need
Term
Diverting
Definition
Retailers buying more than needed in a region where the manufacturer offers a deal and then shipping surplus to other stores.
Term
Types of Consumer Promotion tools (13) table on 602
Definition
Samples, Coupons, cash refund offers, price packs, premiums, frequency programs, prizes, patronage awards, free trials, product warranties, tie-in promotions, cross-promotions, point-of-purchase displays and demonstrations
Term
List online marketing options (4)
Definition
Web sites, search ads, display ads, and e-mail.
Term
Viral Marketing
Definition
Online word of mouth or "mouse" that encourages consumers to pass along company-developed products and services.
Term
How to develop effective mobile marketing programs?
Definition
Ad should only cover 50% of screen, brands should limit ads to a pair of phrases or taglines, put the logo in the corner, 1-2 bright colors but no more or less
Term
Direct Marketing
Definition
use of consumer-direct channels to reach and deliver goods to customers without using marketing middlemen. (catalogs and telemarketing)
Term
Types of direct marketing
Definition
Direct mail, Catalog marketing, Telemarketing and Infomercials
Term
Ethical issues in direct marketing
Definition
Irritation (hard selling), Unfairness (take advantage of vulnerable), deception and fraud (lying about price or attribute), invasion of privacy (person info added to database)
Term
Types of Sales Representatives (6)
Definition
Deliverer, Order taker, missionary (build goodwill not sell), technician, demand creator, solution vendor.
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