Term
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Definition
| Vertical Integration - controls design, manafacturing, and distribution. Comes out with new ideas every two weeks vs two months. Managers are trend spotters |
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Term
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Definition
| department store, supermarket, convenience store, superstores, discount store |
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Term
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Definition
| encompasses all of those activities associated with moving goods from the raw material stage through to the end user, and back to the company if needed. |
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Term
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Definition
| managing the upstream and downstream of value-added flow of mateirals, final goods, and related information amoung suppliers, the company, resellers, and final consumers. Goal is to maximize profits and minimize costs |
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Term
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Definition
| advertising, sales promotion, public relations, personal selling, direct marketing |
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Term
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Definition
| any paid form of non-persona presentation and promotion of ideas, goods,or services by an identified sponsor |
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Term
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Definition
| short term incentives to encourage the purchase or sale of a product of service |
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Term
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Definition
| building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events |
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Term
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Definition
| personal presentation by the firm's sales force for the purpose of making sales and building customer relationships |
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Term
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Definition
| direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships |
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Term
| Integrated Marketing Communications |
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Definition
| Carefully integrates and coordinates the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products. To the customer, the company is the company is the company. Conflicting messages are confusng. |
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Term
| Push Promotion Mix Strategy |
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Definition
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Term
| Pull Promotion Mix Strategy |
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Definition
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Term
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Definition
| travel to make sales calls |
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Term
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Definition
| do buisness from their offices |
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Term
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Definition
| When you need a cross-functional team to make the sale |
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Term
| Compensation for Salespeople |
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Definition
| salary and comission - usually 2/3 salart and 1/3 comission |
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Term
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Definition
| highly targeted way of using a database to reach a target market and give it what you know it wants. Based on psychographics, demographics, geography, past buying behavior, etc. |
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Term
| Direct Marketing Benefits for Buyers |
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Definition
| Convenient, easy, private |
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Term
| Direct Marketing Benefits for Sellers |
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Definition
| personal, targeted, fact finding, relationship building, flexible, measurable |
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Term
| Forms of Direct Marketing |
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Definition
| mailings, catalogs, telephone, direct response on tv, kiosks, mobile phones, podcasts, interactive tv |
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Term
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Definition
| Ways companies market products and services and build brands and customer relationships over the internet |
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Term
| Forms of Online Marketing |
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Definition
| websites, contests, content, promotion, web communities |
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Term
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Definition
| Iniated by buisness, targeted to consumers. Buisness to consumer. LL Bean, Amazon.com |
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Term
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Definition
| Iniated by buisness, targeted to buisness. Buisness to buisness. Cisco Systems, Dell |
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Term
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Definition
| Consumer to Consumer. Iniated by consumer, targeted to consumer. Ebay |
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Term
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Definition
| Consumer to Buisness. Initiated by Consumer, targeted to buisness. Priceline. |
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Term
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Definition
| Advantage over competitors gained by offering customers greater value than competitors do |
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Term
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Definition
| Evaluating your competitors along the following dimensions; strengths, weaknesses, oppurtunities, threats, reaction patterns. Deciding who to attack and who to avoid. |
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Term
| Analyzing the Competition |
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Definition
| Identify them: access objectives, strategy, strenghts, weaknesses, reaction patterns : then decide who to attack and who to avoid |
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Term
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Definition
| Group of firms in an industry following a similar strategy, your closest group of competitors. Example; appliance industry - GE and whirpool |
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Term
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Definition
| the process of comparing the company's products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance |
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Term
| Cost Leadership Competition Strategy |
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Definition
| lowest cost producers, can be risky |
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Term
| Differentiation Competition Strategy |
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Definition
| best in class. customers will prefer this if its not too expensive |
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Term
| Focus Competition Strategy |
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Definition
| Focus on specific section of the market - for example, the ritz carlton focuses on top 5% of travelers |
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Term
| Operational Excellence Competition Strategy |
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Definition
| based on price and convenience |
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Term
| Customer Intimacy Competition Strategy |
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Definition
| know customers inside and out - all about lifetime value. amex, lexus, ritz carlton |
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Term
| Product Leadership Competition Strategy |
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Definition
| all about the new ideas and cutting edge technology like nokia and microsoft |
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Term
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Definition
| Largest share of industry. Seeks to expand the market total demand, protect their market share, and expand their market share |
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Term
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Definition
| Runner up. Seeks to determine whether to go for first place: risk / reward, and to give up 2nd place advantage. Put smaller firms out of buiness? Get more market share. Frontal vs. indirect attacks |
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Term
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Definition
| behind leaders and challengers, may not want to compete with them. follow closely enough to have a good buisness, but not close enough to threaten |
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Term
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Definition
| smaller firms, limited resources. highly profitable despite low market share. Serve segements too small to be a concern to the big guys; includes quality / price nichers. multipel nichers increases odds of survival |
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Term
| Competitor Focused Company |
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Definition
| based on actions and reactions of competitors |
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Term
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Definition
| based on delivering superior value to target customers |
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Term
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Definition
| mix of customer and competitor focused companies |
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