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| consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users. |
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| a marketing channel where a producer and ultimate consumers deal directly with each other. |
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| marketing channels where intermediaries are inserted between the producer and consumers and perform numerous channel functions. |
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| an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product. |
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| Strategic Channel Alliance |
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Definition
a practice whereby one firm’s marketing channel is used to sell another firm’s products. |
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| a level of distribution density whereby a firm tries to place its products and services in as many outlets as possible. |
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a level of distribution density whereby only one retail outlet in a specific geographical area carries the firm’s products. |
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| a level of distribution density whereby a firm selects a few retail outlets in a specific geographical area to carry its products. |
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means that the store carries a large assortment of each item. |
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| refers to the variety of different items a store carries |
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means there is competition between very dissimilar types of retail outlets. |
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Definition
the breakage and theft
of merchandise by customers and employees. |
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Definition
| involves selling brand-name merchandise at lower than regular prices. (EX) warehouse club (Sams), outlets, single-price (dollar store) |
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Definition
consists of directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product. |
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Definition
consists of directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product. |
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Term
| Percentage of Sales Budgeting |
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Definition
consists of allocating funds to promotion as a percentage of past or anticipated sales,
in terms of either dollars or units sold. |
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| Competitive Parity Budgeting |
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Definition
consists of allocating funds to promotion by matching the competitor’s absolute level of spending or the proportion per point of market share. Also called matching competitors or share of market. |
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| All-You-Can-Afford Budgeting |
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Definition
| consists of allocating funds to promotion only after all other budget items are covered. |
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Definition
a sales promotion tool that uses a brand-name product in a movie, television show, video, or a commercial for another product. |
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| 3 Major Functions Performed by intermediaries |
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Definition
1. Transitional Function 2. Logistical Function 3. Facilitating Function |
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| Vertical Conflict/ Disintermediation |
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Definition
channel conflict that arises when a channel member bypasses another member and sells or buys products direct. |
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Term
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Definition
-owned by individual or family -(ex) Flower shops |
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Definition
-owned by parent company -(ex) Target, Wal-Mart |
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Definition
-owned by individuals, but contracted with bigger party -(ex) franchise system, McDonalds |
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Definition
-no service given by retailer -(Ex) gas station, ATM |
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Definition
-small amount of service given by retailer -(ex) WalMart, McDonalds |
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-much service provided by retailers -(Ex) high-end dept. stores, hotel, restaurant |
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Definition
-one or few categories -high in depth (ex) Barnes & Noble |
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Definition
-specialty outlets with dominant market share (ex): Best Buy, Barnes & Noble |
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| General Merchandise Stores |
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Definition
-high in breadth -low depth (ex) Target, Macy's |
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| Types of Nonstore Retailing |
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Definition
1. Automatic vending (atm) 2. direct mail and catalogs 3. TV home shopping 4. online 5. telemarketing 6. direct selling (door to door) |
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Definition
-distribute products through a variety of methods -(Ex) online, directly, retailers, outlets (NIKE) |
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Definition
among the people who receive the advertising message, some are not part of the target market |
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| 3 Types of product advertisements |
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Definition
1. Pioneering/ Informational 2. Competitive / Persuasive -comparative 3. Reminder -reinforcement |
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| Pioneer (informational) Advertising |
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Definition
| -ads that give the customer the basic information about a product or introduce a new product |
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| Competitive (persuasive) Advertising |
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Definition
| -ads that descrive the points of difference of a product and convince consumer to buy |
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Definition
| -ads that show the benefits of one product and the negatives of another in hopes of getting the consumer to buy the better product |
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Definition
| -ads that are used to keep loyal customers |
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| Reinforcement Advertising |
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Definition
| -ads that reassure present consumers that they made a good choice |
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| 3 Types of appeals commonly used in advertisements |
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Definition
1. Fear Appeals 2. Sex Appeals 3. Humorous Appeals |
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Definition
| the number of different people or households exposed to an advertisement |
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Definition
| The percentage of households in a market that are tuned to a particular TV show or radio station |
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Definition
| The average number of times a person in the target audience is exposed to a message or an advertisement |
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| Gross Rating Points (GRPs) |
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Definition
| Reach (expressed as a percentage of the total market) multiplied by frequency |
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Term
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Definition
The cost of reaching one thousand individuals or households with the advertising message in a given medium Cost/ppl or households x 1000 |
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| Continuous (Steady) Schedule |
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Definition
-non-seasonal products -run commercials same time and amount all year |
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| Flighting (intermittent) Schedule |
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Definition
-seasonal products -run commercials and certain times during the year -(ex) snow blower |
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Term
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Definition
-steady schedule but sometimes increase ad frequency -(ex) in response to sales or competitives' actions |
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