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Marketing
Final
109
Marketing
Undergraduate 3
12/18/2010

Additional Marketing Flashcards

 


 

Cards

Term
A marketing channel
Definition
is a business structure of interdependent organizations that reach from the point of product origin to the consumer. Its purpose is to physically move products to their final consumption destination, representing “place” or “distribution”
Term
distribution channel
Definition
Jones Soda is positioned as the anti-Coke. In the early years, few mainstream retailers sold Jones soda. Fans had to get their Jones fix in surf shops, tattoo parlors, and bookstores, adding to the brand's mystique. Jones Soda used its _____ to create a competitive advantage.
Term
quantity
Definition
A discrepancy of _____ is the difference between the amount of product produced and the amount an end user wants to buy.
Term
quantity, assortment, time, and space
Definition
What are the “discrepancies” that channels of distribution overcome.
Term
discrepancy of assortment
Definition
disrepency: is the lack of all the items a customer needs to receive full satisfaction from a product or products?
Term
retailers
merchant wholesalers
agents
brokers
specialists
Definition
What are the various intermediaries?
Term
Retailers and merchant wholesalers take title, but agents and brokers do not.
Definition
Which intermediaries take title to the product and which do not?
Term
Merchant wholesalers
Definition
those organizations that facilitate the movement of products and services from the manufacturer to producers, resellers, governments, institutions, and retailers.
Term
retailers
Definition
firms that sell mainly to consumers
Term
Agents and brokers
Definition
facilitate the exchange of ownership between sellers and buyers.
Term
Transactional
Logistical
facilitating
Definition
Channel intermediaries perform which three basic types of functions
Term
Transactional
Definition
functions that include contacting and promoting, negotiating, and risk taking.
Term
facilitating
Definition
functions, such as researching and financing.
Term
intensive
Definition
distribution aimed at maximum market coverage. Is distribution aimed at having a product available in every outlet where target consumers might want to buy it. Many convenience goods and supplies have this distribution. Low-value, frequently purchased products may require a long channel of distribution.
Term
selective
Definition
distribution achieved by screening dealers to eliminate all but a few in any single area. Is distribution achieved by screening dealers to eliminate all but a few in any single area. This distribution strategies often hinge on a manufacturer's desire to maintain superior product image to be able to charge a premium price. Shopping goods usually have this distribution, as do some specialty products.
Term
exclusive
Definition
distribution which entails only one or a few dealers within a given area. distribution, entails establishing one or a few dealers within a given area. Consumer specialty goods, a few shopping goods, and major industrial equipment use this distribution. This limited distribution aids in establishing an image of exclusiveness for the product.
Term
logistical
Definition

functions include transporting, storing, sorting out, accumulating, allocating, and assorting products.

 

the efficient and cost-effective forward and reverse flow as well as storage of goods, services, and related information, into, through, and out of channel member companies

 

functions performed by channel members include physical distribution, storing, and sorting functions.

Term
Push
Definition
production scheduling based on moving a product down to the consumer from manufacturing. Essentially quantities of products are made in mass marketing manufacturing based on forecasts and then and then transports the product where the goods wait to be ordered by retailers or other intermediaries. Is the most common for SCM.
Term
Pull
Definition
the production of goods or services that is not scheduled until an order is placed by the customer specifying the desired configuration. This is known as mass customization or build to order.
Term
Just in Time
Definition
a process that redefines and simplifies manufacturing by reducing inventory levels and delivering raw materials at the precise time they are needed on the production line.
Term
Retailing
Definition
all activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use.
Term
ownership, level of service, product assortment, and price.
Definition
A retail establishment can be classified according to its
Term
independent retailers, chain stores, or franchise outlets
Definition
On the basis of ownership, retailers can be broadly differentiated as
Term
c. product assortment
Definition
A retail store can be classified according to its:
distribution method
inventory control
product assortment
management style
decor and atmosphere
Term
department stores
Definition
stores that carry a wide assortment of shopping and specialty goods, are organized into relatively independent departments, and offset higher prices by emphasizing customer service and decor.
Term
Specialty retailers
Definition
typically carry a narrower but deeper assortment of merchandise, emphasizing distinctive products and a high level of customer service.
Term
supermarkets
Definition
large self-service retailers that offer a wide variety of food products and some nonfood items.
Term
drug stores
Definition
retail formats that sell mostly prescription and over-the-counter medications, health and beauty aids, cosmetics, and specialty items.
Term
convenience stores
Definition
stores that carry a limited line of high-turnover goods
Term
discount stores
Definition
stores that offer low-priced general merchandise and consist of four types: full-line discounters, specialty discount retailers, warehouse clubs, and off-price retailers
Term
Restaurants
Definition
straddle the line between the retailing and services industries
Term
Independent retailers
Chain stores
Franchises
Definition
What are the major types of retail ownership?
Term
Independent retailers
Definition
are owned by a single person or partnership. They are not operated as part of a larger retail institution.
Term
chain store
Definition
are owned and operated as a group by a single organization
Term
Franchises

Franchise
Definition
are owned and operated by individuals but are licensed by a larger supporting organization. A ____ is the right to operate a business or sell a product.
Term
independent retailer
Definition
Tiffany owns a gift shop that carries clothing and memorabilia of local high school teams as well as home decor objects. She is the sole owner of the store, so in terms of ownership, her store would be classified as a(n):
Term
non store retailing
Definition
shopping outside a store setting
Term
automatic vending
direct retailing
direct marketing
Definition
what are the 3 main categories of non store retailing
Term
Automatic vending
Definition
uses machines to offer products for sale.
Term
direct retailing
Definition
the sales transaction occurs in a home setting, typically through door-to-door sales or party plan selling.
Term
direct marketing
Definition
refers to the techniques used to get consumers to buy from their homes or place of business. Those techniques include direct mail, catalogs and mail order, telemarketing, and electronic retailing, such as home shopping channels and online retailing using the Internet.
Term
Direct retailing
Definition
The manufacturer of Cutco knives uses students as salespeople. The salespeople go into customers’ homes and demonstrate the product and the sales transactions usually occur in a home setting. This form of nonstore retailing is called:
Term
defining the target market (demographic, geographic, or psychographic)

develop the retailing mix (product, place, promotion, price, presentation, and personnel)
Definition
List the major tasks involved in developing a retail marketing strategy.
Term
adding interactivity to the retail environment

M-commerce (enables consumers to purchase goods and services using wireless mobile devices)
Definition
Describe 2 new developments in retailing and think of examples of each
Term
Promotional strategy
Definition
is the plan for using the elements of promotion—advertising, public relations, sales promotion, and personal selling—to meet the firm’s overall objectives and marketing goals.
Term
advertising, public relations, sales promotion, and personal selling.
Definition
The elements of the promotional mix include
Term
public relations
Definition
he function of promotion concerned with a firm’s public image. Firms can’t buy good publicity, but they can take steps to create a positive company image.
Term
sales promotion
Definition
is typically used to back up other components of the promotional mix by stimulating immediate demand. Consists of those marketing communication activities in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value.
Term
personal selling
Definition
typically involves direct communication, in person or by telephone; the seller tries to initiate a purchase by informing and persuading one or more potential buyers.
Term
promotional mix
Definition
The four major promotional tools (advertising, personal selling, sales promotion, and public relations) are known collectively as the:
Term
a public relations strategy and resulting publicity
Definition
In 2006, Atlanta once again hosted the Peachtree Road Race, a running event that attracts many world-caliber racers. This year race officials also sanctioned a race conducted in Iraq so that soldiers from the state would not have to miss the annual event. The winners of the Mideast race as well as scenes of the actual race were televised. In terms of a promotional mix, this Iraqi Peachtree Race was as example of:
Term
informing, persuading, and reminding
Definition
The fundamental goals of promotion are
Term
informative
Definition
promotion that explains the purpose and benefits of a good or service. Promotion that informs the consumer is typically used to increase demand for a general product category or to introduce a new good or service
Term
persuasive
Definition
promotion is designed to stimulate a purchase or an action. Promotion that persuades the consumer to buy is essential during the growth stage of the product life cycle, when competition becomes fierce.
Term
reminder
Definition
promotion that is used to keep the product and brand name in the public’s mind. These promotions are generally used during the maturity stage of the product life cycle.
Term
promotion strategy
Definition
The role of _______ ______ is to convince target customers that the firm's product offerings provide a competitive advantage over the competition.
Term
Informative promotion seeks to convert an existing need into a want

Persuasive promotion is designed to stimulate a purchase or an action.

Reminder promotion is used to keep the product and brand name in the public's mind
Definition
Know what and when a company might use persuasive, informative and reminder advertising?
Term
a. inform
Definition
Maddie’s Beverage Company has recently introduced Wateroos, eight-ounce servings of water in juice-style containers with straws, to encourage children to drink more water. The goal of promotion developed for this new healthy alternative beverage for children would be to _____ consumers.
Term
Corporate and noncorporate
Definition
What are the 2 main types of blogging?
Term
corporate blogs
Definition
blogs that are are sponsored by a company or one of its brands and maintained by one or more of the company’s
Term
Interpersonal
Mass
Definition
What are the 2 main categories of promotional communication?
Term
interpersonal communication
Definition
is direct, face‑to‑face communication between two or more people.
Term
mass communication
Definition
refers to communicating to large audiences, usually through a mass medium such as television or newspaper.
Term
Noise
Definition
anything that interferes with, distorts, or slows the transmission of information.
Term
AIDA
Definition
oncept was developed to explain the process through which consumers reach the decision to try a product. Depending on their previous experience with any given product, they will pass through one or more of the stages
Term
integrating marketing communications
Definition
the careful coordination of all promotional messages for a product or service to assure the consistency of messages at every contact point where a company meets the consumer—advertising, sales promotion, personal selling, public relations, as well as direct marketing, packaging, and other forms of communication
Term
integrated marketing communications approach
Definition
The various Survivor shows have been promoted through personal appearances by show participants, Web sites, and merchandise with the Survivor logo as well as print and broadcast advertising. To make sure that all of the promotional messages are coordinated, CBS (the network on which the show is broadcast) should use the:
Term
advertising
Definition

any form of impersonal, paid communication in which the sponsor or company is identified

 

a form of impersonal, one-way mass communication paid for by the source.

Term
institutional advertising and product advertising.
Definition
The two major types of advertising are
Term
Institutional advertising
Definition
is not product-oriented; rather, its purpose is to foster a positive company image among the general public, investment community, customers, and employees.
Term
product advertising
Definition
designed primarily to promote goods or services, and it is classified into three main categories: pioneering, competitive, and comparative
Term
institutional
Definition
DuPont has an advertisement that shows police officers describing how they were shot at close range in the line of duty. The advertisement explains that the lives of these public servants were saved by Kevlar bullet-proof vests and that Kevlar was invented by DuPont. This is an example of _____ advertising.
Term
Medium
Definition
the channel used to convey a message to the target market
Term
media planning
Definition
the series of decisions advertisers make regarding the selection and use of media to communicate the advertising message to the target audience. Six major types are available: newspapers, magazines, radio, television, outdoor media, and the Internet.
Term
media mix
Definition
the combination of media to be used for a promotional campaign.
Term
unique selling proposition
Definition
The dominant appeal for the campaign will be the
Term
unique selling proposition
Definition
IBM runs television ads that show how their IT services can help a small Internet start up prepare for and solve any problems that may arise in their daily operations. This is an example of a _____.
Term
Newspapers
Definition
This advertising media has the advantage of geographic flexibility and timeliness. They reach a very broad mass market. Disadvantage is lack of market selectivity.
Term
Cooperative advertising
Definition
an arrangement in which the manufacturer and retailer split the costs of advertising the manufacturer's brand.
Term
Outdoor or out-of-home
Definition
type of advertising media:is a flexible, low‑cost medium that may take a variety of forms, such as billboards, skywriting, ads in and on modes of transportation. It reaches a broad and diverse market but its susceptible to noise.
Term
Television
Definition
type of advertising media: reaches a huge market, but both the advertising time and production costs are very expensive.
Term
Radio
Definition
type of advertising media:can be directed to very specific audiences, has a large out‑of‑home audience, has low unit and production costs, is timely, and can have geographic flexibility. Need to have high frequency – run a lot.
Term
Magazine
Definition
type of advertising media:are often targeted to a very narrow market. Although they may offer a very high cost per contact, the cost per potential customer may be much lower.
Term
infomercials
Definition
a thirty minute or longer advertisement; are popular because of the cheap air time and the relatively small production costs.
Term
advergaiming
Definition
involves companies putting ad messages in Web-based or video games to advertise or promote a product, service, organization, or issue.
Term
The DAGMAR approach (Defining Advertising Goals for Measured Advertising Results)
Definition
one method that stresses defining the Advertising Campaign objective. According to the approach, all advertising objectives should precisely define the target market, the desired percentage change in some specified measure of effectiveness, and the time frame in which that change is to occur.
Term
demonstration
Definition
The ads for Tilex Mold & Mildew cleaner show the product being applied to a mildewed bathroom shower and the mildew disappearing. These ads use a _____ executional style.
Term
Websites
Definition
Tool of PR: are an excellent vehicle to post news releases on products, product enhancements, strategic relationships, and financial earnings. They can also be sources of feedback or locations for self-help desks. More and more often, companies are using blogs – both corporate and non-corporate, as a tool to manage their public images.
Term
Sponsorship
Definition
Tool of PR:occurs when a company spends money to support an issue, cause, or event that is consistent with corporate objectives.
Term
Cause related marketing
Definition
Tool of PR:involves the association of a for-profit company with a nonprofit organization.
Term
Consumer education
Definition
Tool of PR: Free seminars and demonstrations help develop more knowledgeable and loyal consumers.
Term
Product Placement
Definition
Tool of PR: is a strategy that involves getting a product, service, or name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the Internet, or at special events.
Term
New product publicity
Definition
Tool of PR: can help differentiate new products and garner valuable exposure by creating free news stories about the product and its uses.
Term
coupons
Definition
Type of sales promotion: certificates entitling consumers to an immediate price reduction when they purchase a product or service. Are a particularly good way to encourage product trial and brand switching.
Term
rebates
Definition
Type of sales promotion: provide purchasers with a price reduction, although it is not immediate. To receive it, consumers generally must mail it in with a proof of purchase
Term
Premium
Definition
Type of sales promotion: offer an extra item or incentive to the consumer for buying a product or service. They reinforce the consumer’s purchase decision, increase consumption, and persuade nonusers to switch brands.
Term
rebate
Definition
When Rick purchased a Xerox color printer for his law office, he was able to mail in a proof-of-purchase and his cash register receipt to receive a check from Xerox for $200. Rick received a:
Term
c.
demand being elastic
Definition
Procter & Gamble dropped the price of Pringles Potato Chips in the Southeast due to price competition and consumer demand. As a result of the price reduction, Procter & Gamble increased unit sales and earnings by 10 percent due to:
a.
reduction in supply
b.
increases in both supply and demand
c.
demand being elastic
d.
demand being inelastic
e.
market share fluctuations
Term
Newspapers inserts
Definition
All of the following are examples of point-of-purchase promotions EXCEPT:
a.
television monitors at supermarket checkouts
b.
shelf talkers
c.
newspaper inserts
d.
shelf extenders
e.
end-aisle and floor-stand displays
Term
building, maintaining, and enhancing interactions with customers

vs.

one-time sales and moving on to the next prospect.
Definition
relationship selling vs traditional selling
Term
c referrals
Definition
Joe Hamas sells for Rush Beverages. He is trying to convince retailers to carry his company’s Ginseng Rush, a new all-natural beverage that delivers an energy punch without caffeine. When he gets retailers to agree to stock his product, he asks them for the names of other retail operations that might be interested in carrying it. He is using _____ to get his sales leads.
a.
networking
b.
cold calling
c.
referrals
d.
direct marketing
e.
noncompeting sales
Term
profit oriented, sales oriented, and status quo.
Definition
Pricing objectives are commonly classified into three categories:
Term
profit oriented pricing
Definition
pricing that is based on profit maximization, a satisfactory level of profit, or a target return on investment.
Term
sales oriented
Definition
type of pricing that focuses on either maintaining a percentage share of the market or maximizing dollar or unit sales.
Term
status quo
Definition
This type of pricing aims to match competitors’ prices
Term
Elastic demand occurs when consumers are sensitive to price changes, whereas inelastic demand means that an increase or decrease in price will not significantly affect demand for a product.
Definition
elastic vs. inelastic
Term
Availability of substitutes
Price
Product durability
The existence of other product uses
Rate of inflation
Definition
determinants of elasticity
Term
Break even
Definition
determines what sales volume must be reached before its total cost equal to total revenue and no profits are earned.
Term
Total Fixed costs / selling cost – average variable cost.
Definition
break even formula
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