Term
|
Definition
| the network made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system in delivering customer value |
|
|
Term
| marketing channel (distribution channel) |
|
Definition
| a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user |
|
|
Term
|
Definition
| a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer |
|
|
Term
|
Definition
| a marketing channel that has no intermediary levels |
|
|
Term
| indirect marketing channel |
|
Definition
| channel containing one or more intermediary levels |
|
|
Term
|
Definition
| disagreement among marketing channel members on goals and roles-who should do what and for what rewards |
|
|
Term
|
Definition
| occurs among firms at the same level of the channel |
|
|
Term
|
Definition
| conflicts between levels of the same channel. more common |
|
|
Term
| conventional distribution channel |
|
Definition
| a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, even at the expense of profits for the system as a whole |
|
|
Term
| vertical marketing system |
|
Definition
| a distribution channel structure in which producers, wholesalers, and retailers act as a unified system. one channel member owns the others, has contract with them, or has so much power that they all cooperate |
|
|
Term
|
Definition
| a vertical marketing system that combines successive stages of production and distribution under single ownership- channel leadership is established through common ownership |
|
|
Term
|
Definition
| a vertical marketing system in which interdependent firms at different levels of production and distribution join together through contracts to obtain more economies or sales impact than they could achieve alone |
|
|
Term
|
Definition
| a channel member (franchisor) links several stages in the production-distribution process |
|
|
Term
|
Definition
| a vertical marketing system that coordinates successive stages of production and distribution, not through common ownership or contractual ties, but through the size and power of one of the parties |
|
|
Term
| horizontal marketing system |
|
Definition
| a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity |
|
|
Term
| multichannel distribution systems |
|
Definition
| a distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments |
|
|
Term
|
Definition
| the cutting out of marketing channel intermediaries by product or service producers, or the displacement of traditional resellers by radical new types of intermediaries |
|
|
Term
|
Definition
| designing effective marketing channels by analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating them |
|
|
Term
|
Definition
| stocking the product in as many outlets as possible |
|
|
Term
|
Definition
| giving a limited number of dealers the exclusive right to distribute the company's products in their territories |
|
|
Term
|
Definition
| the use of more that one, but fewer than all, of the intermediaries who are willing to carry the company's products |
|
|
Term
| marketing channel management |
|
Definition
| selecting, managing, and motivating individual channel member and evaluating their performance over time |
|
|
Term
| marketing logistics (physical distribution) |
|
Definition
| planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit |
|
|
Term
|
Definition
| managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers |
|
|
Term
|
Definition
| a large, highly automated warehouse designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible |
|
|
Term
| intermodal transportation |
|
Definition
| combining two or more modes of transportation |
|
|
Term
| electronic data interchange |
|
Definition
| the computerized exchange of data between organizations |
|
|
Term
| integrated logistics management |
|
Definition
| concept that emphasizes teamwork, both inside the company and among all the marketing channel organizations, to maximize the performance of the entire distribution system |
|
|
Term
| third-party logistics (3PL) provider |
|
Definition
| an independent logistics provider that performs any or all of the functions required to get its client's product to market |
|
|
Term
|
Definition
| all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use |
|
|
Term
|
Definition
| a business whose sales come primarily from retailing |
|
|
Term
|
Definition
| serve customers who are willing to perform their own "locate-compare-select" process to save time or money. Ex: supermarkets & Walmart |
|
|
Term
|
Definition
| provide more sales adssistance because they carry more shopping goods about which customers need information- increased operating costs result in higher prices. Ex: Sears or JC penny |
|
|
Term
|
Definition
| salespeople assist customers in every phase of the shopping process and usually carry more specialty goods for which customers need or want assistance or advice. Ex: Tiffany and Nordstrom |
|
|
Term
|
Definition
| a retail store that carries a narrow product line with a deep assortment within that line |
|
|
Term
|
Definition
| a retail organization that carries a wide variety of product lines- each line is operated as a separate department managed by specialist buyers or merchandisers |
|
|
Term
|
Definition
| a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of frocery and household products |
|
|
Term
|
Definition
| a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods |
|
|
Term
|
Definition
| a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services |
|
|
Term
|
Definition
| a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees |
|
|
Term
|
Definition
| a retailer whose product line is actually a service, including hotels, airlines, banks, colleges, and many others |
|
|
Term
|
Definition
| a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume |
|
|
Term
|
Definition
| a retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs |
|
|
Term
| independent off-price retailer |
|
Definition
| an off-price retailer that is either independently owned and run or is a division of a larger retail corporation |
|
|
Term
|
Definition
| an off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods |
|
|
Term
|
Definition
| an off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees |
|
|
Term
|
Definition
| two or more outlets that are commonly owned and controlled |
|
|
Term
|
Definition
| a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising |
|
|
Term
|
Definition
| a group of independent retailers that band together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts |
|
|
Term
|
Definition
| a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system |
|
|
Term
| merchandising conglomerates |
|
Definition
| corporations that combine several different retailing forms under central ownership |
|
|
Term
|
Definition
| a group of retail businesses planned, developed, and owner, and managed as a unit |
|
|
Term
| wheel-of-retailing concept |
|
Definition
| a concept that states that new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced, higher-service operations, eventually becoming like the conventional retailers they replaces |
|
|
Term
|
Definition
| the merging of consumers, products, and retailers |
|
|
Term
|
Definition
| all activities involved in selling goods and services to those buying for resale or business use |
|
|
Term
|
Definition
| a firm engaged primarily in wholesaling activities |
|
|
Term
|
Definition
| an independently owned business that takes title to the merchandise it handles |
|
|
Term
|
Definition
| a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation |
|
|
Term
|
Definition
| a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods |
|
|
Term
| manufacturers' sales branches and offices |
|
Definition
| wholesaling by sellers or buyers themselves rather than through independent wholesalers |
|
|
Term
| promotion mix (marketing communications mix) |
|
Definition
| the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships |
|
|
Term
|
Definition
| any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor |
|
|
Term
|
Definition
| short-term incentives to encourage the purchase or sale of a product or service |
|
|
Term
|
Definition
| personal presentation by the firm's sales force for the purpose of making sales and building customer relationships |
|
|
Term
|
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 |
|
|
Term
|
Definition
| direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships |
|
|
Term
| integrated marketing communications |
|
Definition
| carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products |
|
|
Term
|
Definition
| the party sending the message to another party |
|
|
Term
|
Definition
| the process of putting thought into symbolic form |
|
|
Term
|
Definition
| the set of symbols that the sender transmits |
|
|
Term
|
Definition
| the communication channels through the message moves from sender to receiver |
|
|
Term
|
Definition
| the process by which the receiver assigns meaning to the symbols encoded by the sender |
|
|
Term
|
Definition
| the party receiving the message sent by another party |
|
|
Term
|
Definition
| the reactions of the receiver after being exposed to the message |
|
|
Term
|
Definition
| the part of the receiver's response communicated back to the sender |
|
|
Term
|
Definition
| the unplanned static or distortion during the communication process, which results in the receiver's getting a different message than the one the sender sent |
|
|
Term
|
Definition
| the stages consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction, and purchase |
|
|
Term
|
Definition
| relate to the audience's self-interest |
|
|
Term
|
Definition
| attempt to stir up either negative or positive emotions that can motivate purchase |
|
|
Term
|
Definition
| directed to the audience's sense of what is "right" and "proper" |
|
|
Term
| personal communication channels |
|
Definition
| channels through which two or more people communicate directly with each other, including face to face, on the phone through mail or e-mail, or even through an Internet "chat" |
|
|
Term
|
Definition
| personal communication about a product between target buyers and neighbors, friends, family members, and associates |
|
|
Term
|
Definition
| cultivating opinion leaders and getting them to spread information about a product or service to others in their communities |
|
|
Term
|
Definition
| people whose opinions are sought by others |
|
|
Term
| nonpersonal communication channels |
|
Definition
| media that carry messages without personal contact or feedback, including major media, atmospheres, and events |
|
|
Term
|
Definition
| include print media, broadcast media, display media, and online media |
|
|
Term
|
Definition
| designed environments that create or reinforce the buyer's leanings toward buying a product |
|
|
Term
|
Definition
| staged occurrences that communicate messages to target audiences |
|
|
Term
|
Definition
| setting the promotion budget at the level management thinks the company can afford |
|
|
Term
| percentage-of-sales method |
|
Definition
| setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price |
|
|
Term
| competitive-parity method |
|
Definition
| setting the promotion budget to match competitors' outlays |
|
|
Term
| objective-and-task method |
|
Definition
| developing the promotion budget by defining specific objectives, determining the tasks that must be performed to achieve these objectives, and estimating the costs of performing these tasks. the sum of these costs is the proposed promotion budget |
|
|
Term
|
Definition
| a promotion strategy that calls for using the sales force and trade promotion to push the product through channels. the producer promotes the product to channel members who in turn promote it to final consumers |
|
|
Term
|
Definition
| a promotion strategy that calls for spending a lot on advertising and consumer promotion to induce final consumers to buy the product, creating a demand vacuum that pulls the product through the channel |
|
|
Term
|
Definition
| a specific communication task to be accomplished with a specific target audience during a specific period of time |
|
|
Term
|
Definition
| used heavily when introducing a new product category. The objective is to build primary demand |
|
|
Term
|
Definition
| becomes more important as competition increases- objective is to build selective demand |
|
|
Term
|
Definition
| a company directly or indirectly compares its brand with one or more other brands |
|
|
Term
|
Definition
| important for mature products. helps to maintain customer relationships and keep consumers thinking about the product |
|
|
Term
|
Definition
| the dollars and other resources allocated to a product or company advertising program. |
|
|
Term
|
Definition
| the strategy by which the company accomplishes its advertising objectives.It consists of 2 major elements: creating advertising messages and selecting advertising media |
|
|
Term
|
Definition
| a term that has come to represent the merging of advertisement and entertainment in an effort to break through the clutter and create new avenues for reaching consumers with more engaging messages |
|
|
Term
|
Definition
| the compelling "big idea" that will bring the advertising message strategy to life in a distinctive memorable way |
|
|
Term
|
Definition
| the approach, style, tone, words, and format used for executing an advertising message |
|
|
Term
|
Definition
| the vehicles through which advertising messages are delivered to their intended audiences |
|
|
Term
|
Definition
| a measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time |
|
|
Term
|
Definition
| a measure of how many times the average person in the target market is exposed to message |
|
|
Term
|
Definition
| the qualitative value of a message exposure through a given medium |
|
|
Term
| return on advertising investment |
|
Definition
| the net return on advertising investment divided by the costs of the advertising investment |
|
|
Term
|
Definition
| a marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs |
|
|
Term
|
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 |
|
|
Term
| press relations or press agency |
|
Definition
| creating and placing newsworthy information in the news media to attract attention to a person, product, or service |
|
|
Term
|
Definition
| publicizing specific products |
|
|
Term
|
Definition
| building and maintaining national or local community relations |
|
|
Term
|
Definition
| building and maintaining relations with legislators and government officials to influence legislation and regulation |
|
|
Term
|
Definition
| maintaining relationships with shareholders and others in the financial community |
|
|
Term
|
Definition
| public relations with donors or members of nonprofit organizations to fain financial or volunteer support |
|
|
Term
|
Definition
| personal presentation by the firm's sales force for the purpose of making sales and building customer relatioships |
|
|
Term
|
Definition
| an individual representing a company to customers by performing one or more of the following: prospecting, communicating, selling, servicing, information gathering, and relationship building |
|
|
Term
|
Definition
| the analysis, planning, implementation, and control of sales force activities. It includes designing sales force strategy and structure and recruiting, selecting, training, supervising, compensating, and evaluating the firm's salespeople |
|
|
Term
| territorial sales force structure |
|
Definition
| a sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line |
|
|
Term
| product sales force structure |
|
Definition
| a sales force organization under which salespeople specialize in selling only a portion of the company's products or lines |
|
|
Term
| customer sales force structure |
|
Definition
| a sales force organization under which salespeople specialize in selling only to certain customers or industries |
|
|
Term
| outside sales force (field sales force) |
|
Definition
| outside salespeople who travel to call on customers in the field |
|
|
Term
|
Definition
| inside salespeople who conduct business from their offices via telephone, the internet, or visits from prospective buyers. |
|
|
Term
|
Definition
| using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts |
|
|
Term
|
Definition
| a standard that states the amount a salesperson should sell and how sales should be divided among the company's products |
|
|
Term
|
Definition
| the steps that the salesperson follows when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson or company identifies qualified potential customers |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson meets the customer for the first time |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson tells the "value story" to the buyer, sowing how the company's offer solves the customer's problems |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson seeks out, clarifies, and overcomes customer objections to buying |
|
|
Term
|
Definition
| the step in the selling process in which the salesperson asks the customer for an order |
|
|
Term
|
Definition
| the last step in the selling process in which the salesperson follows up after the sale to ensure customer satisfaction and repeat business |
|
|
Term
|
Definition
| short-term incentives to encourage the purchase or sale of a product or service |
|
|
Term
|
Definition
| sales promotion tools used to boost short-term customer buying and involvement or to enhance long-term customer relationships |
|
|
Term
|
Definition
| offers of a trial amount of a product |
|
|
Term
|
Definition
| certificates that give buyers a saving when they purchase specified products |
|
|
Term
|
Definition
| like coupons except that the price reduction occurs after the purchase rather than at the retail outlet |
|
|
Term
| price packs (cents-off deals) |
|
Definition
| offer consumers savings off the regular price of a product. producer marks the reduced prices directly on the label or package |
|
|
Term
|
Definition
| goods offered either free or at low cost as an incentive to buy a product |
|
|
Term
| advertising specialties (promotional products) |
|
Definition
| useful articles imprinted with an advertiser's name, logo, or message that are given as gifts to consumers |
|
|
Term
| point of purchase promotions |
|
Definition
| include displays and demonstrations that take place at the point of sale. |
|
|
Term
|
Definition
| creating a band-marketing event or serving as a sole or participating sponsor of events created by others |
|
|
Term
|
Definition
| sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, ad push it to consumers |
|
|
Term
|
Definition
| sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople |
|
|
Term
|
Definition
| marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs |
|
|
Term
|
Definition
| includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail list price |
|
|
Term
|
Definition
| includes practices such as misrepresenting the product's features or performance or luring the customers to the store for a bargain that is out of stock |
|
|
Term
|
Definition
| includes exaggerating package contents through subtle design, using misleading labeling,or describing size in misleading terms |
|
|
Term
|
Definition
| an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers |
|
|
Term
|
Definition
| an organized movement of concerned citizens and government agencies to protect and improve people's current and future living environment |
|
|
Term
| environmental sustainability |
|
Definition
| a management approach that involves developing strategies that both sustain the environment and produce profits for the company |
|
|
Term
|
Definition
| minimizing not just pollution from production and product design but all environmental impacts throughout the full product life cycle, and all while reducing costs |
|
|
Term
| consumer-oriented marketing |
|
Definition
| the philosophy of sustainable marketing that holds that the company should view and organize its marketing activities from the consumer's point of view |
|
|
Term
|
Definition
| a principle of sustainable marketing that holds that a company should put most of its resources into customer-value-building marketing investments |
|
|
Term
|
Definition
| a principle of sustainable marketing that requires that a company seek real product and marketing improvements |
|
|
Term
| sense-of-mission marketing |
|
Definition
| a principle of sustainable marketing that holds that a company should define its mission in broad social terms rather than narrow product terms |
|
|
Term
|
Definition
| a principle of sustainable marketing that holds that a company should make marketing decisions by considering consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests |
|
|
Term
|
Definition
| products that have neither immediate appeal nor long-run benefits |
|
|
Term
|
Definition
| products that give high immediate satisfaction but may hurt consumers in the long run |
|
|
Term
|
Definition
| products that have low appeal but may benefit customers in the long run |
|
|
Term
|
Definition
| products that give both high immediate satisfaction and high long-run benefits |
|
|
