question

consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumer or industrial users

answer

Marketing Channel

question

Transactional, Logistical, and Facilitating

answer

3 Functions of Intermediaries

question

Time, Place, Form, and Possession

answer

Consumer Values through intermediaries

question

Producer ---> Consumer

answer

Direct Channel

question

Producer ---> Intermediary ---> Consumer

answer

Indirect Channel

question

which employ the Internet to make products and services available

answer

Internet marketing channels

question

allow consumers to buy products by interacting with various advertising media

answer

Direct marketing channels

question

(omnimarketing) is the blend of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop

answer

Multichannel marketing

question

a firm reaches different buyers by employing two or more different types of channels for the same product

answer

Dual distribution

question

one firms marketing channel is used to sell another firms products

answer

strategic channel alliance

question

professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximize marketing impact

answer

Vertical marketing systems

question

independent production and distribution firms intergrate efforts on a contractual basis to obtain greater functional economies

answer

Contractual vertical marketing

question

achieve coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership

answer

Administered vertical marketing

question

number of stores in a geographical area

answer

Density

question

a firm places its products in as many outlets as possible

answer

Intensive distribution

question

only one retailer carries firms product

answer

Exclusive distribution

question

selects few retailers to carry products

answer

Selective distribution

question

Information, Convenience, Variety, and Pre-Post sale service

answer

4 Categories of Interests in Channel Choice

question

arises when one channel member believes another channel member is engaged in behavior that prevents it from acheiving its goals

answer

Channel Conflict

question

occurs between different levels in the marketing channels

answer

vertical conflict

question

occurs between intermediaries at the same level in marketing channels

answer

horizontal conflict

question

channel conflict that occurs when a channel member bypasses another member and sells or buys products direct

answer

Disintermediation

question

a channel member that coordinates, directs, and supports other channel members

answer

Channel captain

question

Reward, Expertise, Identification, Legitimate right

answer

4 Forms of Influence

question

those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost

answer

Logistics

question

Flow of products, Cost effective, Limits

answer

3 Elements of Logistics

question

various firms involved in performing the activities required to create and deliver a product or service to consumers

answer

Supply chain

question

1. Understand the customer 2. Understand the supply chain 3. Harmonize the supply chain with the marketing strategy

answer

3 Steps in Supply Chain

question

includes expenses associated with transportation, materials handling, and warehousing, inventory, stockouts, order processing, and return products handling.

answer

Total Logistics Cost

question

the ability of logistic management to satifsy users in terms of time, depedability, communication, and convienence.

answer

customer service

question

order cycle - time between ordering of an item and when it is received and ready to use

answer

Time

question

consistency of replenishment

answer

Dependability

question

two way link between buyer and seller that helps monitoring service

answer

Communication

question

a min effort on the part of the buyer in doing business with the seller

answer

Convenience

question

the supplier determines the product amount and assortment a customer needs and automatically delivers the items

answer

Vendor Managed inventory

question

process of reclaiming or recycling reusable materials

answer

Reverse logistics

question

includes all activities involved in selling, renting, and providing products, and services to the ultimate consumer

answer

Retailing

question

1. Form of ownership 2. Level of service 3. Type of merchandise

answer

Classification of Outlets

question

1. Independent retailer 2. Corporate chain 3. Contractual systems

answer

Forms of Ownership

question

1. Business format franchise 2. Distribution franchise

answer

2 Types of franchises

question

requires that customers perform many functions during the purchase process

answer

Self-service

question

outlets provide some service such as credit and merchandise return but not others

answer

Limited service

question

provide many services to customers

answer

Full service

question

the store carries a large assortment of each item

answer

Depth of product line

question

variety of different items a store carries

answer

Breadth of product line

question

offering several unrelated product lines in a single store

answer

scrambled merchandising

question

serve customers when and where stores cannot

answer

V-commerce

question

involves using the telephone to interact with and sell directly to consumers

answer

telemarketing

question

activities related to managing the store and the merchandise in the store 1. Pricing 2. Store Location 3. Retail communication 4. Merchandise

answer

Retailing mix

question

how much should be added to the cost the retailer paid for the product

answer

markup

question

the difference between retailer cost and initial selling price

answer

original markup

question

discounting a product

answer

markdown

question

1. Central business district 2. Regional Shopping centers 3. The Strip mall 4. Power Center

answer

4 Store Settings

question

use a combo of traditional store formats and non-store formats

answer

multichannel retailers

question

the use of displays, coupons, and samples to influence shopping behavior

answer

shopper marketing

question

approach to managing the assortment of merchandise to maximize sales and profits

answer

category management

question

describes how new forms of retail outlets enter the market

answer

Wheel of retailing

question

process of growth and decline that retail outlets experience over time

answer

Retail life cycle

question

independently owned firms that take title to the merchandise they handle

answer

merchant wholesalers

question

work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

answer

Manufacturers agents

question

independent firms whose principal function is to bring buyers and sellers together to make sales.

answer

brokers

question

the combo of one of more of the communication tools used to inform, persuade, or remind prospective buyers

answer

Promotional mix

question

the concept of designing marketing communications programs that coordinate all promotional activities to provide a consistent message across all audiences

answer

integrated marketing communications

question

the process of conveying a message to others

answer

Communication

question

1. source 2. message 3. channel of communication 4. receiver 5. process of encoding 6. process of decoding

answer

6 Elements of communication

question

process of having the sender transform an idea into a set of symbols

answer

Encoding

question

process of having the receiver take a set of symbols and transform them into an idea

answer

Decoding

question

sender's interpretation of the response and indicates whether the message was decoded and understood as intended

answer

Feedback

question

includes extraneous factors that can work against effective communication

answer

Noise

question

1. Advertising 2. personal selling 3. public relations 4. sales promotion 5. direct marketing

answer

5 Promotional Alternatives

question

any paid form of nonpersonal communication about an organization, product, or idea

answer

advertising

question

the two way flow of communication between a buyer and a seller designed to influence a person's or group's purchase decision

answer

personal selling

question

a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers

answer

Public relations

question

nonpersonal, indirectly paid presentation of an organization, product, or service

answer

publicity

question

a short term inducement of value offered to arouse interest in buying a product or service

answer

Sales promotion

question

uses direct communication with consumers to generate a response in the form of an order

answer

Direct marketing

question

Introduction stage - increase awareness Growth Stage- persuade customer to buy Maturity Stage - need to maintain existing buyers Decline Stage - phase out of a product

answer

Product Life Cycle

question

directing the promotional mix to channel members to gainn their cooperation in ordering and stocking a product

answer

Push strategy

question

directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product

answer

Pull strategy

question

1. Developing 2. Executing 3. Assessing the promotion program

answer

Strategic Marketing Process :

question

group of prospective buyers toward which a promotion program will be directed

answer

target audience

question

collecting information about your web-browsing behavior to determine the banner and display ads that you will see

answer

behavioral targeting

question

the sequence of stages a prospective buyer goes through: 1. Awareness 2. Interest 3. Evaluation 4. Trial 5. Adoption

answer

hierarchy of effects

question

Percentage of sales Competitive parity Objective and task

answer

Promotion Budget Methods

question

the result of offers that contain all the information necessary for a potential buyer to make a decision to purchase and complete the transaction

answer

Direct orders

question

the result of an offer designed to generate interest in a product or service and a request for additional information

answer

lead generation

question

the outcome of an offer designed to motivate people to visit a business

answer

traffic generation

question

1. pioneering- tell what a product is 2. competitive- promotes features and benefits 3. reminder - reinforce previous knowledge

answer

product advertisements

question

is to build goodwill or an image for an organization rather than promote a specific product or service

answer

Institutional advertising

question

1. Advocacy 2. Pioneering institutional advertisements 3. Competitive institutional advertisements 4. Reminder institutional

answer

4 Forms of Institutional advertising

question

1. developing 2. executing 3. evaluating

answer

Advertising Steps

question

Fear appeal- avoid some negative experience Sex appeal- increase attractiveness Humorous appeal- fun and exciting

answer

Appeals

question

the means by which the message is communicated to the target audience

answer

advertising media

question

number of different people or households exposed to an ad

answer

reach

question

percentage of households in a market that are tuned to a particular TV show or radio station

answer

rating

question

the average number of times a person in the target audience is exposed to a message

answer

frequency

question

TV Radio Magazines Newspapers Yellow Pages Internet Outdoor

answer

Major Advertising Media

question

having people outside the market for the product se the ad

answer

wasted coverage

question

program length ads that take an educational approach to communication with potential customers

answer

infomercials

question

interactive ads on the internet

answer

rich media

question

how often new buyers enter the market to buy the product

answer

buyer turnover

question

the more frequently a product is purchased the less repetition is required

answer

purchase frequency

question

1. continuous schedule 2. flighting 3. Pulse

answer

Schedule of markets

question

conducted before an ad is placed to determine whether it communicates the intended message or to select among alternative versions

answer

pretests

question

after it has been shown to the target audience to determine whether it accomplished its intended purpose

answer

posttests

question

sale tools such as coupons, sweepstakes, and samples used to support a companys ads

answer

consumer-oriented sales promotions

question

uses a brand name product in a movie, TV Show, video game, or commercial for another product

answer

product placement

question

sale tools used to support a companys ads and personal selling directed to wholesalers, distributors

answer

Trade oriented sales promotion

question

a manufacturer pays a percentage of the retailers local advertising expense for advertising the manufacturers product

answer

cooperative advertising

question

methods of obtaining nonpersonal presentation of an organization, product, or service without direct cost

answer

publicity tools

question

online media where users submit comments, photos, and videos, to identify popular topics

answer

social media

question

contraction of "web-log" a web page that serves as a publicly accessible personal journal and online forum

answer

blog

question

various forms of online media content that are publicly available and created by end users

answer

User Generated Content (UGC)

question

1. Media richness- degree of visual, etc contact 2. Self-disclosure -make a positive impression

answer

Classification system for marketers

question

a website where users may create a personal profile, add other users, and exchange photos, comments etc

answer

Facebook

question

a website that enables users to send and receive tweets. based on principle of followers

answer

Twitter

question

a business-oriented website that lets users post their professional profiles to connect to a network of businesspeople

answer

question

a video-sharing website in which users can upload, view, and comment on videos

answer

YouTube

question

small, downloadable software programs that run on smartphones and tablet devices

answer

Apps

question

any marketing activity conducted through several Internet networks to which consumers are continuously connected using a personal mobile device

answer

mobile marketing

question

planning the selling program and implementing and evaluating the personal selling effort of the firm

answer

sales management

question

the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time

answer

relationship selling

question

processes routine orders or reorders for products that were already sold by the company

answer

order taker

question

1. Outside order takers- visit customers and replenish inventory stocks 2. Inside order takers - answer simple questions, take orders, complete transactions

answer

2 types of order takers:

question

the use of toll free telephone numbers that customers can call to obtain info about products

answer

inbound telemarketing

question

sells in a conventional sense and identifies prospective customers, provides customers with info, persuades customers to buy, closes sales, and follows up on customers

answer

order getter

question

practice of using the telephone rather than personal visits to contact current and prospective customers

answer

outbound telemarketing

question

activities occuring before and after the sale itself

answer

personal selling process

question

1. prospecting 2. preapproach 3. approach 4. presentation 5. close 6. follow up

answer

6 stages of personal selling process

question

involves adjusting the presentation to fit the selling situation

answer

adaptive selling

question

focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution

answer

consultative selling

question

excuses for not making a purchase commitment or decision

answer

objections

question

1. Acknowledge and convert the objection 2. postpone 3. agree and neutralize 4. accept the objection 5. denial 6. ignore the objection

answer

6 Techniques in dealing with objections

question

a statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed 1. Setting objectives 2. organizing the salesforce 3. developing account management policies

answer

sales plan

question

(key account management) the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships

answer

major account management

question

specifying whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out.

answer

account management policies

question

1. salesforce recruitment and selection 2. salesforce training 3. salesforce motivation and compensation

answer

Implementing a sales plan

question

a study of a particular sales position

answer

job analysis

question

contains specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated period of time.

answer

sales quota

question

the use of these technologies to make the sales function more effective and efficient

answer

salesforce automation (SFA)

question

involves two-way buyer seller electronic communication in a computer mediated environment in which the buyer controls the kind and amount of information received from the seller

answer

interactive marketing

question

an interactive, Internet enabled system that allows individual customers to design their own products and services by answering a few questions

answer

choiceboard

question

a process that automatically groups people with similar buying intentions, preferences, and behaviors, and predicts future purchases

answer

collaborative filtering

question

the consumer initiated practice of generating content on a marketers website that is custom tailored to an individuals specific needs and preferences

answer

personalization

question

the solicitation of a consumer's consent to receive e-mail and advertising based on personal date supplied by the consumer

answer

permission marketing

question

Context Content Customization Connection Communication Community Commerce

answer

Design Elements

question

electronic shopping agents or robots that comb websites to compare prices and product or service features

answer

bots

question

customers will abandon their efforts the enter and navigate a website if download time exceeds 8 seconds.

answer

eight-second rule

question

websites that allow people to congregate online and exchange views on topics of common interest

answer

web communities

question

electronic junk mail or unsolicited e-mail

answer

spam

question

an Internet-enabled promotional strategy that encourages individuals to forward marketer-initiated messages to others via e-mail

answer

viral marketing

question

occurs when a shopper visits a retail store to inspect merchandise but then goes online to compare prices from other retail and online sellers to attempt to make the best purchase

answer

showrooming

question

the practice of changing prices for products and services in real time in response to supply and demand conditions

answer

dynamic pricing

question

computer files that a marketer can download onto the computer and mobile phone on an online shopper who visits the marketers website

answer

cookies

question

an online consumer who researches products online and the purchases them at a retail store

answer

cross-channel shopper

Marketing Concepts Chapter 3 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards