Term
| 5 elements of marketing communications mix / promotional mix |
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Definition
| 1. advertising 2. sales promotion 3. public relations 4. personal selling 5. direct marketing |
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Term
| Integrated Marketing Communications |
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Definition
| Tie together five elements of the promotion mix to provide synergy for the total campaign. |
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Term
| For each of the elements, differences include |
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Definition
| 1. paid for / free 2. personal / non-personal 3. mass media / face-to-face communication 4. To Persuade/Influence or Take Action 5. Long-Term or Short-Term 6. Promotes Product or Promotes Company 7. communication process |
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Term
| model of communication process |
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Definition
| sender (encodes) --> message (channel) --> receiver (decodes) --> feedback--> back to sender |
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Term
| communication stages / hierarchy of effects |
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Definition
Awareness—the consumer's ability to recognize and remember the product or brand name.
•Interest—an increase in the consumer's desire to learn about some of the features of the product or brand.
•Evaluation—the consumer's appraisal of the product or brand on important attributes.
•
Trial—the consumer's actual first purchase and use of the product or brand.
•
Adoption—through a favorable experience on the first trial, the consumer's repeated purchase and use of the product or brand. |
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Term
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Definition
| Promote to trade who “push” the product through the channels of distribution by stocking and promoting it |
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Term
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Definition
| Promote to consumers who “pull” the product through the channels of distribution by demanding product be stocked |
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Term
| what do you measure to see promotion effects? |
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Definition
| 1. communication (awareness %) & sales (like product % and prefer product %) |
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Term
| characteristics of advertising |
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Definition
Paid
Non-personal
Mass Media
To persuade or influence
Long-term |
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Term
| structure of advertising agency |
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Definition
| research suppliers to all; advertiser --> agency--> media --> consumers; or w/o agency |
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Term
| advertising- core institution |
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Definition
| advertisier (ex. Coca-Cola) |
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Term
| advertising- facilitating institutions |
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Definition
| 1. ad agencies 2. media 3. research suppliers |
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Term
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Definition
| 1. full service 2. boutique/specialized/limited-service 3. in-house |
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Term
| boutique / specialized / limited service agency |
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Definition
| limited in product, market, function (ex. for women, creative but not media placement or vice versa) |
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Term
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Definition
| large retailers have own agencies (ex. Macy's) |
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Term
| types of research suppliers |
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Definition
| 1. syndicated (ex. Simmons-Mediamark) 2. custom (study is specific; will be owned by company buying) |
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Term
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Definition
| 1. commission system 2. fee system 3. hybrid / combination system |
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Term
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Definition
| * 15% * pay to place in media not how much ad costs to make; worked w/ newspapers but agencies would make too much w/ TV vs. magazine- would be too low |
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Term
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Definition
| fixed amount of $; now about 60% |
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Term
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Definition
| 1. target market 2. advertising objectives 3. advertising budget 4. creating ads 5. media planning 6. pre-testing 7. measuring effects |
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Term
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Definition
Communication Goal
Target Audience
Time Frame
ex. “Create awareness of new Chocolate Cheerios in 25% of women, 25-34 in Northeastern U.S. by end of 2010.” |
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Term
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Definition
| creative strategy (what the ad says) & creative execution (how the ads say it) |
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Term
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Definition
| how the ad says message; spokesperson; appeal (rational- comparisons & facts or emotional- humor, sex, & fear) |
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Term
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Definition
| Reach (R)- number or percent of target audience & Frequency (F)- number of times exposed to ad; Low F & High R- new, make statement vs. Low R & High F- explain product |
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Term
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Definition
| spend same amount of money on advertising year round; not seasonal |
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Term
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Definition
| 1. continuous 2. flighting 3. pulsing |
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Term
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Definition
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Term
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Definition
| low level all year & heavier during peak season --keep brand name known |
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Term
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Definition
| 1. reach & frequency 2. timing 3. media & media vehicles 4. sizes/lengths |
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Term
| characteristics of sales promotion |
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Definition
Action-Oriented
Incentive
Immediate Response
Paid
Mass Media or Personal Distribution |
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Term
| targets for sales promotion |
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Definition
| 1. consumers 2. trade 3. company sales force |
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Term
| sales promotions for consumers- examples |
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Definition
Coupons
Refunds or rebates
Samples
Contests/Sweepstakes
Bonus Packs
Premiums
Loyalty Programs
(Product Placement) |
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Term
| sales promotions for the trade examples |
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Definition
Trade Deals/Allowances
Merchandising
Cooperative Advertising
Personnel (Incentives; Training) |
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Term
| sales promotion for the sales force examples |
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Definition
Incentives
Newsletters
Sales Meetings |
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Term
| potential problems w/ sales promotion |
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Definition
May influence product reputation
“Borrowing” sales from the future
Competitive retaliation
May distract from advertising program |
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Term
| why sales promotions for trade? |
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Definition
| get retailers to buy more & try to push-- ex. better shelf space |
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Term
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Definition
| most common sales promotion for consumers; BUT less that 3% are used; manufacturer coupon- give manufacturer some control on pricing; scan coupon at store & info on back goes to company and company reimburses sometimes w/ extra vs. retailer coupon- drive consumers into store |
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Term
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Definition
| more work for consumer b/c fill out form & mail back |
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Term
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Definition
| based on chance vs. contest- based on skill; not as popular |
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Term
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Definition
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Term
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Definition
| publicity; producer of show wants & asks OR company offers / asks |
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Term
| point of purchase displays |
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Definition
| sometimes companiess set up w/ design & offer to retailers |
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Term
| cooperative advertisement |
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Definition
| manufacturer pays for ad & retailer puts in store |
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Term
| characteristics of public relations |
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Definition
Image-Oriented
Long-term Response
Paid or Non-paid
Mass Media |
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Term
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Definition
| How a company is viewed by its various publics (customers, employees, suppliers, stockholders, financial institutions, community, etc.) |
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Term
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Definition
Press releases
Press conferences
Press interviews
Sponsorships of events
Donations to charitable causes
Lobbying with government
Public service advertising |
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Term
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Definition
A. Determine public attitudes
B. Develop objectives
C. Choose messages and vehicles
D. Design and execute PR programs
E. Measure results |
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Term
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Definition
Usually a short-term burst of news about a company or its products.
Free.
May or may not be initiated by the company.
May be positive or negative |
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Term
| PR- corporate advertising |
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Definition
| 1. institutional advertising 2. advocacy advertising 3. public service advertising |
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Term
| institutional advertising |
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Definition
| role of company in community; way to create good will (AKA image advertising) |
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Term
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Definition
| controversial; may have negative effects (AKA issue / cause advertising) |
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Term
| public service advertising |
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Definition
| Space/time usually free. Often developed by group of ad agencies. |
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Term
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Definition
| publicity (free) & corporate advertising |
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Term
| characteristics of direct marketing |
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Definition
Action-Oriented
Immediate Response and Lasting Relationship
Paid
Personal Distribution and Customized— Generally, NOT mass marketing using the mass media (with exception of DRTV).
Removes intermediary or middleman |
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Term
| purpose of direct marketing |
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Definition
Direct communication designed to generate a response—a sale, an order, a request, and/or a visit to a place of business
Direct order
Lead generation
Traffic generation |
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Term
| major channels for direct marketing |
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Definition
| direct mail (Letters, ads, brochures, samples, CDs, DVDs, Faxes, emails, voicemails, texts, automated), telemarketing; catalog marketing (specialized; many web-based); TV marketing (Infomercials and Home Shopping Networks Mass Media) |
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Term
| direct marketing- advantages for sellers |
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Definition
Selectivity in targeting
Ease of measuring responses
“Personalized” so can tailor to individual needs.
Long life for some forms.
Building databases. |
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Term
| direct marketing- advantages for buyers |
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Definition
Ease of use when shopping.
Immediate interaction with sellers—may configure product on the spot. |
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Term
| direct marketing disadvantages |
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Definition
Much direct mail discarded unopened due to clutter.
Inaccurate mailing lists.
Telephone marketing difficult due to “Do not call” lists. |
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Term
| personal selling characteristics |
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Definition
Action-Oriented
Immediate Response and Lasting Relationship
Paid
Interpersonal, two-way, often face-to-face communication |
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Term
| personal selling sales force |
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Definition
Some companies have none—if web- or catalog-based (order takers/processors)
Some companies have sales force with complete consumer contact from presenting products to negotiating prices to closing the sale (Retailers, i.e.).
Some companies have sales force end consumer never sees—packaged goods sold to supermarkets, for example. |
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Term
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Definition
Prospecting
Preapproach (research store / customer)
Approach
Presentation
Close
Follow-up |
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Term
| formulation of sales plan |
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Definition
Objectives (geographic, product / type & customer / type- can mix ex. NW Glade salesforce);
Salesforce Organization/Structure
Account Management Policies |
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Term
| Workload Method of salesforce size |
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Definition
NS = # of salespeople
NC = # of customers
CF = Call frequency (per year)
CL = Call length (average)
AST = Amt. of selling time (average/yr.)
NS = NC x CF x CL
AST |
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Term
| implementation of sales plan |
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Definition
Recruitment (NS formula)
Training
Compensation (salary, commission, or both)
Supervision |
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Term
| why do most companies use a mixture of salary & commission? |
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Definition
| salary- no incentive to sell vs. commission- hard to get people to work for company |
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Term
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Definition
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Term
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Definition
| one that operates in more than one country. |
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Term
| Deciding which global markets to enter: |
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Definition
| 1. Trade System 2. Economics of Market 3. Political Environment 4. Culture of Market |
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Term
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Definition
| Set of socially-acquired values and norms a society accepts as a whole and transmits to members through language and symbols |
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Term
| Methods for entering global markets |
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Definition
Exporting
Licensing
Joint venturing
Direct Investment |
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Term
| how design global marketing program? |
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Definition
May use a standardized marketing mix or an adapted marketing mix; Straight Extension
Communication Adaptation
Product Adaptation
Dual Adaptation
Product Invention |
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Term
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Definition
| partner w/ company from new country-- many manufacturing control |
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Term
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Definition
| build facility in other country to do business |
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Term
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Definition
| same product in new country & same ads; work best when the consumer market target for the product is alike across countries and cultures |
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Term
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Definition
| Changing a product in some way to make it more appropriate for a country's climate or consumer preferences is a product adaptation strategy ex. makeup in South America BUT same promotion OR make coke bottles smaller |
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Term
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Definition
| companies can invent totally new products designed to satisfy common needs across countries |
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Term
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Definition
| same product & different promotion for other country |
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Term
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Definition
| have to adapt product & promotion for new country |
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Term
E-Business
E-Commerce
E-Marketing |
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Definition
E-Business
Using electronic platforms in business.
E-Commerce
Buying and selling electronically (online).
E-Marketing
Communicating, promoting, selling via the Internet. |
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Term
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Definition
| B2C, B2B, C2C, C2B (Business & Company) |
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Term
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Definition
Businesses selling to Consumers
Physical Distribution
Product shipped to consumer (direct channel)
About 10% of retail sales
Virtual Distribution
Text
Music
Video |
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Term
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Definition
Much larger dollar amount.
More worldwide transactions. |
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Term
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Definition
Consumers selling to Consumers
Auction sites
Web logs (Blogs) |
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Term
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Definition
Consumers “selling” to Businesses
Feedback loop to companies |
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Term
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Definition
Non-Revenue-Based on Internet)
Web is not used to generate revenue on its own.
May provide information about a product or company.
May help build brand awareness.
May provide customer
service/support |
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Term
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Definition
Traditional retail store AND online sales.
Advantage of retail name reputation.
Advantage of brand recognition. (ex. Barnes & Noble) |
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Term
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Definition
Web used as only outlet for sales.
Better for “high-involvement” products.
Must become “known” entity to generate sales.
May be difficult as start-up. (ex. Amazon) |
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Term
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Definition
| 1. brick and mortar 2. click and mortar 3. click only |
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Term
| e-marketing advantages to customers |
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Definition
Convenient
Reduced costs—no mark-up chain
Comparative Information
Access to more products
Interactive communication
Online customer support
Online choice assistance/Personalization
Shopbots/Shopping sites
Service recommendations |
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Term
| e-marketing advantages for business |
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Definition
Build relationships
Reduce costs (distribution costs)
Access to global markets
Interactive communication
Closed Loop Marketing
Can track from exposure to advertising through to actual sales.
Can make changes and analyze them very quickly.
Sequence of steps visitor to a site may follow; can track each point along the way |
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Term
| e-marketing disadvantages for consumers & businesses |
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Definition
Online privacy issues
Cluttered environment
Frustrating for consumers
Difficult to capture attention for marketers
Numerous competitors |
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Term
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Definition
About 75% of U.S. Population
Demographic Characteristics
Gender
Age
Education
Income
Ethnicity |
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Term
| lifestyles / psychographics |
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Definition
Click-and-mortars—browse but buy offline
Hunter-gatherers—get info
Brand Loyalists—favorite sites
Time-Sensitives—music, books, software
Hooked, Online, Singles—banking, gaming
Newbies—seek info |
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Term
| promotion and e-marketing |
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Definition
Design and maintain web site.
Place advertising to promote website.
Develop web communities.
Utilize e-mail.
Develop Interactivity and Individuality with Website.
Develop an Offline Advertising Strategy for Online Presence |
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Term
| design and maintain web site |
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Definition
Provide corporate information.
Market and/or sell products.
Provide entertainment for consumers.
Choose a name for the site.
(Short and simple
Recognizable.
Descriptive)
Get the site listed |
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Term
| place advertising to promote website |
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Definition
Banner, button, skyscraper ads.
Search-related ads.
Rich media ads.
Pop-over and pop-under ads.
Paying for Internet advertising
Rates based on impressions of ads
Pay-per-click or Click-Through-Rate (CTR) more expensive |
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Term
| place advertising to promote website |
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Definition
Paying for Internet advertising
Rates based on website visits=impressions of ads
Purchased by the CPM.
(200,000 impressions at $40 CPM for a total cost of $8000.
Visits counted and when reach 200,000, ads stop and advertiser is billed)
Pay-per-click or Click-Through-Rate (CTR) more expensive |
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Term
| Develop Interactivity and Individuality with Website. |
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Definition
Choiceboards.
Collaborative filtering.
Personalization. |
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Term
| Develop an Offline Advertising Strategy for Online Presence |
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Definition
Site name appears elsewhere.
Join discussion groups.
Promote site using traditional media.
(Newspaper, magazine, radio, television, outdoor Ads
Letterhead
Press Releases
Internal Documents) |
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Term
| Ethical Criticisms of Marketing |
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Definition
Controversial Products
Green Marketing
Affecting Prices
Increasing Materialism and Consumption
Planned Obsolescence
Targeting Vulnerable Groups
Promotion |
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Term
| vulnerable groups targeted |
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Definition
Children
Un- and Undereducated
Elderly |
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Term
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Definition
Promotion that Lies/Misleads
Promotion that “Puffs” (exaggerates)
Playing on Insecurities
Showing Dangerous Activities
Poor Taste
Using Stereotypes |
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Term
| government agencies regulating promotion |
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Definition
| FTC (Trade), FDA (Food & Drug) & FCC (licenses to radio & TV regulate) |
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Term
| if agency finds ad misleading |
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Definition
1. cease & desist - pull; can't run more
2. affirmative disclosure- in print ad give warning
3. corrective advertising- company spend money to say was lying (most severe) ex. Listerine |
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Term
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Definition
| 1. government 2. self-regulation 3. media |
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Term
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Definition
| rocess of conveying a message to others and it requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding |
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Term
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Definition
| process of having the sender transform an idea into a set of symbols |
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Term
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Definition
| process of having the receiver take a set of symbols, the message, and transform the symbols back to an idea |
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Term
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Definition
| The source may not adequately transform the abstract idea into an effective set of symbols, a properly encoded message may be sent through the wrong channel and never make it to the receiver, the receiver may not properly transform the set of symbols into the correct abstract idea, or finally, feedback may be so delayed or distorted that it is of no use to the sender |
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Term
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Definition
| similar understanding and knowledge they apply to the message ex. avoid "Finger Lickin' Good" --> "Eat Your Fingers Off" |
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Term
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Definition
| sender's interpretation of the response and indicates whether the message was decoded and understood as intended |
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Term
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Definition
| extraneous factors that can work against effective communication by distorting a message or the feedback received; simple error (printing mistake), misunderstood message by salesperson (ex. accent) |
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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
| percentage of sales budgeting |
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Definition
| funds are allocated to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold |
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Term
| competitive parity budgeting |
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Definition
| is matching the competitor's absolute level of spending or the proportion per point of market share |
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Term
| all-you-can-afford budgeting |
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Definition
| money is allocated to promotion only after all other budget items are covered; small businesses; conservative |
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Term
| objective and task budgeting |
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Definition
| he company (1) determines its promotion objectives, (2) outlines the tasks to accomplish these objectives, and (3) determines the promotion cost of performing these tasks |
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Term
| response rates for different forms of direct marketing |
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Definition
| email- most usage & least response by far; direct mail- 2nd most usage & greater response (less than catalogs); catalog highest response but not high usage (& same w/ telemarketing w/ a little less for both) |
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Term
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Definition
| result of an offer designed to generate interest in a product or service and a request for additional information |
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Term
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Definition
| outcome of an offer designed to motivate people to visit a business |
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Term
| value of marketing measured by |
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Definition
| 1. direct orders 2. lead generation 3. traffic generation |
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Term
| 3 concepts of social responsibility |
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Definition
| (1) profit responsibility, (2) stakeholder responsibility, and (3) societal responsibility. |
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Term
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Definition
| ompanies have a simple duty: to maximize profits for their owners or stockholders. |
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Term
| stakeholder responsibility |
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Definition
| focuses on the obligations an organization has to those who can affect achievement of its objectives. These constituencies include consumers, employees, suppliers, and distributors |
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Term
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Definition
| obligations that organizations have (1) to the preservation of the ecological environment and (2) to the general public |
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Term
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Definition
| recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth |
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Term
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Definition
| marketing efforts to produce, promote, and reclaim environmentally sensitive products |
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Term
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Definition
| the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products |
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Term
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Definition
| systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility |
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Term
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Definition
| conducting business in a way that protects the natural environment while making economic progress |
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Term
| companies that are responsible to society |
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Definition
| these companies (1) benefit from favorable word of mouth among consumers and (2) typically outperform less responsible companies on financial performance |
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Term
| unethical consumer practices |
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Definition
| rarely b/c of economic need; filing warranty claims after the claim period; misredeeming coupons; making fraudulent returns of merchandise; providing inaccurate information on credit applications; tampering with utility meters; tapping cable TV lines; pirating music, movies, and software from the Internet; and submitting phony insurance claims |
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Term
| steps of developing advertisement |
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Definition
| 1. target audience 2. Specifying Advertising Objectives 3. Setting advertisement budget 4. design ad |
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Term
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Definition
| test advertisement to see if communicates intended message; 1. portfolio test (placed in portfolio with other ads & stories & asked for impressions of ads) 2. jury tests (panel rate how liked, how drew attention & attractiveness) 3. theater tests (watch TV with test commercials & answer questions) |
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Term
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Definition
| provides the most complete range of services, including market research, media selection, copy development, artwork, and production; often charged a commission of 15 percent of the media costs |
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Term
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Definition
| pay for agency costs and a 5 to 10 percent profit, plus bonuses if specific performance goals are met |
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Term
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Definition
| after shown to target audience to test whether accomplished intended purpose 1. aided recall 2. unaided recall 3. attitude tests 4. inquiry tests 5. sales tests |
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Term
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Definition
| to determine the percentage of those (1) who remember seeing a specific magazine ad (noted), (2) who saw or read any part of the ad identifying the product or brand (seen-associated), (3) who read any part of the ad's copy (read some), and (4) who read at least half of the ad |
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Term
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Definition
| question such as “What ads do you remember seeing yesterday?” is asked of respondents without any prompting to determine whether they saw or heard advertising messages |
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Term
| key element of an integrated marketing program |
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Definition
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Term
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Definition
| merchandise offered free or at a significant savings over its retail price |
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Term
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Definition
| sales promotion tool used to encourage and reward repeat purchases by acknowledging each purchase made by a consumer and offering a premium as purchases accumulate ex. credit cards |
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Term
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Definition
| manufacturer pays a percentage of the retailer's local advertising expense for advertising the manufacturer's products |
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Term
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Definition
| 1. merchandise allowance (Reimbursing a retailer for extra in-store support or special featuring of the brand) 2. case allowance (discount on each case ordered during a specific time period) 3. finance allowance ( paying retailers for financing costs or financial losses associated with consumer sales promotions) |
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Term
| major presentation formats |
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Definition
| (1) stimulus-response format, (2) formula selling format, and (3) need-satisfaction format |
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Term
| stimulus-response presentation |
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Definition
| assumes that given the appropriate stimulus by a salesperson, the prospect will buy. With this format the salesperson tries one appeal after another, hoping to hit the right button |
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Term
| formula selling presentation |
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Definition
| based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect |
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Term
| need-satisfaction presentation |
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Definition
| emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers. Once these are identified, the salesperson tailors the presentation to the prospect and highlights product benefits that may be valued by the prospect; adaptive selling & consultative selling |
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Term
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Definition
| adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information. |
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Term
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Definition
| focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution |
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Term
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Definition
1. Acknowledge and convert the objection. This technique involves using the objection as a reason for buying. For example, a prospect might say, “The price is too high.” The reply: “Yes, the price is high because we use the finest materials. Let me show you….”
2. Postpone. The postpone technique is used when the objection will be dealt with later in the presentation: “I'm going to address that point shortly. I think my answer would make better sense then.”
3. Agree and neutralize. Here a salesperson agrees with the objection, then shows that it is unimportant. A salesperson would say, “That's true. Others have said the same. But, they thought that issue was outweighed by other benefits.”
4. Accept the objection. Sometimes the objection is valid. Let the prospect express such views, probe for the reason behind it, and attempt to stimulate further discussion on the objection.
5. Denial. When a prospect's objection is based on misinformation and clearly untrue, it is wise to meet the objection head on with a firm denial.
6. Ignore the objection. This technique is used when it appears that the objection is a stalling mechanism or is clearly not important to the prospect |
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Term
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Definition
| statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed; involves(1) setting objectives, (2) organizing the salesforce, and (3) developing account management policies |
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Term
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Definition
| practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships |
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Term
| measuring salesforce results |
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Definition
| 1. quantitative (sales quota) 2. behavioral |
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Term
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Definition
| study of similarities and differences among consumers in two or more nations or societies; values, customs, cultural symbols |
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| A field of study that examines the correspondence between symbols and their role in the assignment of meaning for people |
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Definition
| translated word or phrase is retranslated into the original language by a different interpreter to catch error |
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Definition
| tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products |
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| graph / chart of market entry |
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Definition
| x axis- amount of firm's financial commitment, risk, & marketing control vs. y axis- profit potential; exporting --> licensing--> joint venture--> direct investment |
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Definition
| when a firm sells its domestically produced goods in a foreign country through an intermediary |
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| when a firm sells its domestically produced goods in a foreign country without intermediaries |
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Definition
| company offers the right to a trademark, patent, trade secret, or other similarly valued items of intellectual property in return for a royalty or a fee. The advantages to the company granting the license are low risk and a capital-free entry into a foreign country |
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Term
| disadvantages of licensing |
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Definition
| 1. licensor forgoes control of product & reduces potential profits from it 2. licensor may be creating its own competition 3. licensee poor choice--hurt company's reputation |
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Definition
| involves two-way buyer–seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller |
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| interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (or components), prices, and delivery options |
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Definition
| consumer-initiated practice of generating content on a marketer's Web site that is custom tailored to an individual's specific needs and preferences; ex. MyYahoo! pages |
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| web site design elements that drive customer experience |
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Definition
| 1. context 2. commerce 3. connection 4. communication 5. content 6. community 7. customization |
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Definition
| consists of women who tend to browse retailer Web sites but actually buy products in traditional retail outlets. They make up 23 percent of online consumers |
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Definition
| married couples with children at home who use the Internet like a consumer magazine to gather information and compare products and prices |
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Definition
| regularly visit their favorite bookmarked Web sites and spend the most money online. They are better-educated and more affluent Internet users |
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Term
| time-sensitive materialists |
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Definition
| regard the Internet as a convenience tool for buying music, books, computer software, and electronics |
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Term
| hooked, online, and single |
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Definition
| young, affluent, and single online consumers who bank, play games, and spend more time online than any other segment |
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Definition
| relative newcomers to the Internet who rarely spend money online but seek product information |
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Term
| 6 product & service categories of online shopping |
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Definition
1. information important part of purchase decision & prepurchase trial not critical (ex. computer)
2. audio / video demonstration important (ex. CDs)
3. delivered digitally (ex. reservations)
4. unique items- collectibles, specialty goods, foods & gifts
5. regularly purchased & convenience important
6. highly standardized products & services- price important |
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Term
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Definition
| 1. convenience 2. choice 3. customization 4. communication 4. cost 6. control |
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Definition
| the growing practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer |
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Definition
| practice of changing prices for products and services in real time in response to supply and demand conditions |
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Definition
| computer files that a marketer can download onto the computer and mobile phone of an online shopper who visits the marketer's Web site |
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Term
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Definition
| online consumer who researches products online and then purchases them at a retail store (1) the desire to compare products among different retailers; (2) the need for more information than is available in stores; and (3) the ease of comparing their options without having to trek to multiple retail locations |
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Term
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Definition
| blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in the traditional marketplace and online—the cross-channel shopper |
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Definition
| advertise and promote a company's products and services and provide information on how items can be used and where they can be purchased |
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