Term
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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” |
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Term
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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. |
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Term
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Definition
| A discrepancy of _____ is the difference between the amount of product produced and the amount an end user wants to buy. |
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Term
| quantity, assortment, time, and space |
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Definition
| What are the “discrepancies” that channels of distribution overcome. |
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Term
| discrepancy of assortment |
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Definition
| disrepency: is the lack of all the items a customer needs to receive full satisfaction from a product or products? |
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Term
retailers
merchant wholesalers
agents
brokers
specialists |
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Definition
| What are the various intermediaries? |
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Term
| Retailers and merchant wholesalers take title, but agents and brokers do not. |
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Definition
| Which intermediaries take title to the product and which do not? |
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Term
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Definition
| those organizations that facilitate the movement of products and services from the manufacturer to producers, resellers, governments, institutions, and retailers. |
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Term
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Definition
| firms that sell mainly to consumers |
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Term
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Definition
| facilitate the exchange of ownership between sellers and buyers. |
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Term
Transactional
Logistical
facilitating |
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Definition
| Channel intermediaries perform which three basic types of functions |
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Term
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Definition
| functions that include contacting and promoting, negotiating, and risk taking. |
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Term
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Definition
| functions, such as researching and financing. |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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Definition
| all activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use. |
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Term
| ownership, level of service, product assortment, and price. |
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Definition
| A retail establishment can be classified according to its |
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Term
| independent retailers, chain stores, or franchise outlets |
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Definition
| On the basis of ownership, retailers can be broadly differentiated as |
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Term
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Definition
A retail store can be classified according to its:
distribution method
inventory control
product assortment
management style
decor and atmosphere |
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Term
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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. |
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Term
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Definition
| typically carry a narrower but deeper assortment of merchandise, emphasizing distinctive products and a high level of customer service. |
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Term
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Definition
| large self-service retailers that offer a wide variety of food products and some nonfood items. |
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Term
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Definition
| retail formats that sell mostly prescription and over-the-counter medications, health and beauty aids, cosmetics, and specialty items. |
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Term
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Definition
| stores that carry a limited line of high-turnover goods |
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Term
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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 |
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Term
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Definition
| straddle the line between the retailing and services industries |
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Term
Independent retailers
Chain stores
Franchises |
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Definition
| What are the major types of retail ownership? |
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Term
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Definition
| are owned by a single person or partnership. They are not operated as part of a larger retail institution. |
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Term
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Definition
| are owned and operated as a group by a single organization |
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Term
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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. |
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Term
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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): |
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Term
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Definition
| shopping outside a store setting |
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Term
automatic vending
direct retailing
direct marketing |
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Definition
| what are the 3 main categories of non store retailing |
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Term
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Definition
| uses machines to offer products for sale. |
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Term
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Definition
| the sales transaction occurs in a home setting, typically through door-to-door sales or party plan selling. |
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Term
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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. |
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Term
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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: |
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Term
defining the target market (demographic, geographic, or psychographic)
develop the retailing mix (product, place, promotion, price, presentation, and personnel) |
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Definition
| List the major tasks involved in developing a retail marketing strategy. |
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Term
adding interactivity to the retail environment
M-commerce (enables consumers to purchase goods and services using wireless mobile devices) |
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Definition
| Describe 2 new developments in retailing and think of examples of each |
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Term
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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. |
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Term
| advertising, public relations, sales promotion, and personal selling. |
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Definition
| The elements of the promotional mix include |
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Term
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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. |
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Term
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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. |
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Term
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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. |
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Term
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Definition
| The four major promotional tools (advertising, personal selling, sales promotion, and public relations) are known collectively as the: |
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Term
| a public relations strategy and resulting publicity |
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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: |
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Term
| informing, persuading, and reminding |
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Definition
| The fundamental goals of promotion are |
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Term
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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 |
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Term
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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. |
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Term
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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. |
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Term
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Definition
| The role of _______ ______ is to convince target customers that the firm's product offerings provide a competitive advantage over the competition. |
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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 |
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Definition
| Know what and when a company might use persuasive, informative and reminder advertising? |
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Term
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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. |
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Term
| Corporate and noncorporate |
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Definition
| What are the 2 main types of blogging? |
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Term
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Definition
| blogs that are are sponsored by a company or one of its brands and maintained by one or more of the company’s |
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Term
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Definition
| What are the 2 main categories of promotional communication? |
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Term
| interpersonal communication |
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Definition
| is direct, face‑to‑face communication between two or more people. |
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Term
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Definition
| refers to communicating to large audiences, usually through a mass medium such as television or newspaper. |
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Term
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Definition
| anything that interferes with, distorts, or slows the transmission of information. |
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Term
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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 |
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Term
| integrating marketing communications |
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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 |
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Term
| integrated marketing communications approach |
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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: |
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Term
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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. |
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Term
| institutional advertising and product advertising. |
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Definition
| The two major types of advertising are |
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Term
| Institutional advertising |
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Definition
| is not product-oriented; rather, its purpose is to foster a positive company image among the general public, investment community, customers, and employees. |
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Term
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Definition
| designed primarily to promote goods or services, and it is classified into three main categories: pioneering, competitive, and comparative |
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Term
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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. |
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Term
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Definition
| the channel used to convey a message to the target market |
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Term
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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. |
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Term
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Definition
| the combination of media to be used for a promotional campaign. |
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Term
| unique selling proposition |
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Definition
| The dominant appeal for the campaign will be the |
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Term
| unique selling proposition |
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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 _____. |
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Term
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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. |
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Term
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Definition
| an arrangement in which the manufacturer and retailer split the costs of advertising the manufacturer's brand. |
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Term
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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. |
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Term
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Definition
| type of advertising media: reaches a huge market, but both the advertising time and production costs are very expensive. |
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Term
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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. |
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Term
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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. |
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Term
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Definition
| a thirty minute or longer advertisement; are popular because of the cheap air time and the relatively small production costs. |
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Term
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Definition
| involves companies putting ad messages in Web-based or video games to advertise or promote a product, service, organization, or issue. |
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Term
| The DAGMAR approach (Defining Advertising Goals for Measured Advertising Results) |
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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. |
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Term
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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. |
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Term
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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. |
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Term
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Definition
| Tool of PR:occurs when a company spends money to support an issue, cause, or event that is consistent with corporate objectives. |
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Term
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Definition
| Tool of PR:involves the association of a for-profit company with a nonprofit organization. |
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Term
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Definition
| Tool of PR: Free seminars and demonstrations help develop more knowledgeable and loyal consumers. |
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Term
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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. |
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Term
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Definition
| Tool of PR: can help differentiate new products and garner valuable exposure by creating free news stories about the product and its uses. |
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Term
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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. |
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Term
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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 |
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Term
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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. |
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Term
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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: |
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Term
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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 |
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Term
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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 |
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Term
building, maintaining, and enhancing interactions with customers
vs.
one-time sales and moving on to the next prospect. |
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Definition
| relationship selling vs traditional selling |
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Term
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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 |
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Term
| profit oriented, sales oriented, and status quo. |
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Definition
| Pricing objectives are commonly classified into three categories: |
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Term
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Definition
| pricing that is based on profit maximization, a satisfactory level of profit, or a target return on investment. |
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Term
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Definition
| type of pricing that focuses on either maintaining a percentage share of the market or maximizing dollar or unit sales. |
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Term
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Definition
| This type of pricing aims to match competitors’ prices |
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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. |
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Definition
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Term
Availability of substitutes
Price
Product durability
The existence of other product uses
Rate of inflation |
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Definition
| determinants of elasticity |
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Term
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Definition
| determines what sales volume must be reached before its total cost equal to total revenue and no profits are earned. |
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Term
| Total Fixed costs / selling cost – average variable cost. |
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Definition
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