question

Supply chain

answer

Consists of all the suppliers and consumers in a companies market

question

upstream partners

answer

the set of firms that supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service.

question

downstream partners

answer

wholesalers and retailers form a vital link between the firm and its customers

question

value delivery network

answer

made up of the company, suppliers,distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system

question

marketing channels/ distribution channels

answer

A set of interdependent organizations thast help make a product or service available for use or consumption by the consumer or business user

question

How do marketing channels add value for a comany?

answer

create greater effieciency in making goods available to target markets. through their contacts, experience, specialization,and scale of operations, intermediaries usually offer the firm more than it can achieve on its own.

question

What key functions are performed by channel members?

answer

reduce the amount of work that must be done by both producers and consumers. the role of marketing intermediaries is to transform the assortments of products into the assortments wanted by consumers.

question

What does the length of a marketing channel refer to? why is this an important consideration for companies?

answer

the number of intermediary levels. the more levels means less control and greater channel complexity

question

difference between a direct and indirect marketing channel

answer

direct has no intermediary levels and indirect contains one or more intermediary levels

question

what is a channel conflict

answer

refers to disagreements among marketing channel members on goals, roles, and rewards.

question

what are the two types of channel conflict

answer

Horizontal conflict occurs among firms at the same level of the channel. Vertical conflict, which is conflict between different levels of the same channel, is more common.

question

difference between conventional distribution channel and a vertical marketing system

answer

A conventional distribution channel consists of one or more independent producers, wholesalers, and retailers. In contrast, a vertical marketing system (VMS) consists of producers, wholesalers, and retailers acting as a unified system.

question

3 types of vertical marketing system

answer

A corporate VMS- combines successive stages of production and distribution under single ownership. A contractual VMS- consists of independent firms at different levels of production and distribution that join together through contracts. The franchise organization is the most common type. In franchise organizations- a channel member, called a franchisor, links several stages in the production-distribution process. An administered VMS -coordinates successive stages of production and distribution through the size and power of one of the parties.

question

horizontal marketing system

answer

in which two or more companies at one level join together to follow a new marketing opportunity.

question

multichannel distribution system

answer

refers to a single firm that sets up two or more marketing channels to reach one or more customer segments

question

pros and cons of a multichannel distribution system

answer

With each new channel, the company expands its sales and market coverage and gains opportunities to tailor its products and services to the specific needs of diverse customer segments. But such multichannel systems are harder to control, and they can generate conflict as more channels compete for customers and sales.

question

disintermediation

answer

refers to the cutting out of marketing channel intermediaries by product or service producers, or the displacement of traditional resellers by radical new types of intermediaries.

question

what are the major channel design decisions

answer

analyzing consumer needs selecting channel objectives Identifying Major channel alternatives Evaluating the alternatives

question

when determining the number of intermediaries to use at each level, what are the 3 strategies available

answer

Producers of convenience products and common raw materials typically seek intensive distribution— a strategy in which they stock their products in as many outlets as possible (provides maximum brand exposure and consumer convenience). Some producers purposely limit the number of intermediaries through exclusive distribution, in which the producer gives only a limited number of dealers the exclusive right to distribute its products in their territories (common in luxury brands). Between intensive and exclusive distribution lies selective distribution—the use of more than one but fewer than all of the intermediaries who are willing to carry a company's products. Most consumer electronics, furniture, and home appliance brands are distributed in this manner.

question

what are the major steps in marketing channel management

answer

(1) selecting, (2) managing and motivating individual channel members, and (3) evaluating their performance over time.

question

partner relationship management

answer

working closely with partners in other compnay departments and outside the company to jointly bring greater value to customers

question

marketing logistics/physical distribution

answer

involves planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements at a profit.

question

outbound logistics

answer

is moving products from the factory to resellers and ultimately to customers

question

inbound logistics

answer

is moving products and materials from suppliers to the factory,

question

reverse logistics

answer

involves reusing, recycling, refurbishing, or disposing of broken, unwanted, or excess products returned by consumers or resellers.

question

supply chain management

answer

managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers.

question

what are the major logistics functions

answer

warehousing, inventory management, transportation, and logistics information management.

question

difference between storage warehouses and distribution centers

answer

_______________________ store goods for moderate to long periods. ____________________ are designed to move goods rather than just store them. They are large and highly automated warehouses designed to receive goods from various plants and suppliers, take orders, fill orders efficiently, and deliver goods to customers as quickly as possible.

question

How are just in time logistics systems and RFID/smart tag technology used to improve inventory management?

answer

producers and retailers carry only small inventories of parts or merchandise, often enough for only a few days of operations. involves the use of small transmitter chips which are embedded in or placed on products and packaging for everything from flowers and razors to tires.

question

multimodal transportation

answer

which combines two or more modes of transportation (accounts for 8%). Piggyback involves the use of rail and trucks. Fishyback involves the use of water and trucks. Trainship involves the use of water and rail. Airtruck involves the use of air and trucks.

question

How are electronic data interchange (EDI) and vendor-managed inventory (VMI) systems/ continuos inventory replenishment systems used for logistics information management?

answer

(EDI), the digital exchange of data between organizations, which primarily is transmitted via the Internet. using VMI, the retailer shares real-time data on sales and current inventory levels with the supplier

question

Integrated logistics management

answer

emphasizes teamwork—both inside the company and among all the marketing channel organizations—to maximize the performance of the entire distribution system.

question

third part logistics (3PL) providers

answer

provider is an independent logistics provider that performs any or all of the functions required to get a client's product to market.

question

Retailing

answer

includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

question

What are the areas around which retailers are classified

answer

-Amount of service offered -Breadth and Depth of product lines -Relative prices charged -Way they are organized

question

What are the differences among self-service retailers, limited-service retailers, and full-service retailers?

answer

_______________________serve customers who are willing to perform their own locate-compare-select process to save time or money. Self-service is the basis of all discount operations and is typically used by retailers selling convenience goods and nationally branded, fast-moving shopping goods. ________________ provide more sales assistance because they carry more shopping goods about which customers need information. Their increased operating costs result in higher prices. ____________________such as high-end specialty stores and first-class department stores, assist customers in every phase of the shopping process. Full-service stores usually carry more specialty goods for which customers need or want assistance or advice.

question

Different types of retailers based on product lines

answer

Specialty stores- patagonia, northface Department stores- Nordstrom, ,macys

question

3 types of off price retailers

answer

Idependent off-price retailers- TJ-MAXX(is either independently owned and run or is a division of a larger retail corporation. ) Factory outlet- Nike, Columbia Warehouse clubs- Costco, Sams

question

retail strategy

answer

Retail segementation and targeting -store differentiation and positioning

question

retail marketing mix decisions

answer

Product and service assortment Retail prices promotion Distribution (location)

question

3 major product variables retailers must consider

answer

The retailer's product assortment should differentiate it while matching target shoppers' expectations. One strategy is to offer merchandise that no other competitor carries (e.g., store brands or national brands for which the retailer holds exclusive rights). Another is to offer a highly targeted product assortment (e.g., plus size apparel). The services mix can also help set one retailer apart from another. For example, some retailers invite customers to ask questions or consult service representatives in person or via phone or keyboard. The store's atmosphere is another important element in the retailer's product arsenal. Retailers want to create a unique store experience, one that suits the target market and moves customers to buy. Many retailers practice experiential retailing.

question

major promotion tools retailers can use

answer

advertising, personal selling, sales promotion, public relations, and direct and social media marketing Advertising may be supported by newspaper inserts and catalogs. Personal selling involves store salespeople greeting customers, meeting their needs, and building relationships. Sales promotions may include in-store demonstrations, displays, sales, and loyalty programs. Public relations (PR) activities, such as new-store openings, special events, newsletters and blogs, store magazines, and public service activities, are also available to retailers. Most retailers also interact digitally with customers using Web sites and digital catalogs, online ads and video, social media, mobile ads, and apps, blogs, and emails.

question

Shopping center

answer

is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.

question

Major types of shopping centers

answer

A regional shopping center, or regional shopping mall, is the largest and most dramatic shopping center. It has from 50 to more than 100 stores, including two or more full-line department stores. A community shopping center contains between 15 and 50 retail stores. It contains a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and sometimes a bank.

question

Current retail trends and developments

answer

Omni-channel retailing refers to creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping. Showrooming- shopping in store and then buying online

question

promotion mix

answer

is a specific blend of promotion tools that a company uses to engage customers, persuasively communicate customer value, and build customer relationships. -Advertising -Sales promotion -Personal Selling - Public relations -Direct and Digital marketing

question

Marketing communications mix

answer

-Paid media -owned media -Earned media -Shared media

question

major factors changing the face of todays marketing communications

answer

-Consumers are changing -Marketing strategies are changing -Advances in digital technology

question

Content marketing

answer

Creating, inspiring, and sharing brand messages and conversations with and among customers across a fluid mix of paid, owned, earned, and shared communications channels.

question

paid media

answer

Promotional channels paid for by the marketer, including traditional channels and online and digital media.

question

Owned media

answer

Promotional channels owned and controlled by the company (e.g., company website, owned social media, blogs).

question

earned media

answer

PR media channels, such as TV, newspaper, blogs, and other media not directly paid for or controlled by the marketer but that incorporate content because of viewer, reader, or user interest.

question

shared media

answer

Media shared by consumers with other consumers, such as social media, blogs, viral videos as traditional word of mouth.

question

Integrated marketing communications (IMC)

answer

refers to carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its brands

question

difference between a push and pull promotion strategy

answer

A push strategy refers to 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 that in turn promote it to final consumers. A pull strategy refers to a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that pulls the product through the channel.

question

comparative/attack advertising

answer

in which a company directly or indirectly compares its brand with one or more other brands.

question

strategies for setting advertising budgets

answer

The affordable method sets the promotion budget at the level management thinks the company can afford. Often used by small businesses. May ignore the impact promotion can have on sales. The percentage-of-sales method sets the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price. It is simple to use but often is based on availability of funds rather than opportunities. It also provides no basis for choosing the specific percentage.

question

advertising strategy

answer

is the strategy by which the company accomplishes its advertising objectives.

question

2 major elements for advertising strategy

answer

creating advertising messages and selecting advertising media.

question

advertainment

answer

aims to make ads so entertaining, or so useful, that people want to watch them.

question

brand integrations/ branded entertainment

answer

involve making the brand an inseparable part of some other form of entertainment or content.

question

product placements

answer

embedding brands as props within other programming

question

native advertising

answer

other brand-produced online content that appears to be native to the Web or social media site in which it is placed.

question

what does creating the message strategy entail?

answer

the general message that will be communicated to consumers.

question

creative concept

answer

that will bring the message strategy to life in a distinctive and memorable way.

question

various execution styles that can be used for creative concept

answer

slice of life, lifestyle, fantasy, mood or image, musical, personality symbol, technical expertise, scientific evidence, and testimonial evidence or endorsement.

question

consumer generated content

answer

can incorporate the voice of the customer into brand messages and generate greater customer engagement.

question

4 steps involved in media selection

answer

- Determining reach, frequency, impact and engagement -Choosing among major media types -Selecting specific media vehicles -Choosing media timing

question

difference bn reach and frequency

answer

________________is a measure of the percentage of people in the target market exposed to the ad campaign during a given period of time. _______________is a measure of how many times the average person in the target market is exposed to the message.

question

major media types

answer

TV; digital, mobile, and social media; newspapers; direct mail; magazines; radio; and outdoor.

question

media vehicles

answer

specific media within each general media type.

question

return on advertising investment

answer

refers to the net return on advertising investment divided by the costs of the advertising investment

question

2 types of advertising results

answer

the communication effects and the sales and profit effects.

question

advertising agency

answer

is a marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs.

question

challenges of international advertising

answer

The most basic issue concerns the degree to which global advertising should be adapted to the unique characteristics of various country markets.

question

public relations

answer

, consists of activities designed to engage and build good relations with the company's various publics.

question

what functions are performed by PR departments

answer

Press relations or press agency: Creating and placing newsworthy information in the news media to attract attention to a person, product, or service. Product publicity: Publicizing specific products. Public affairs: Building and maintaining national or local community relationships. Lobbying: Building and maintaining relationships with legislators and government officials to influence legislation and regulation. Investor relations: Maintaining relationships with shareholders and others in the financial community. Development: Working with donors or members of nonprofit organizations to gain financial or volunteer support.

question

why is PR used?

answer

build good relations with consumers, investors, the media, and their communities.

question

what are the major PR tools

answer

PR professionals find or create favorable news about the company and its products or people. Another PR tool is special events, like news conferences and speeches, brand tours and grand openings, multimedia presentations, or educational programs designed to reach and interest target publics. PR also involves the preparation of written materials like annual reports, brochures, and company newsletters and magazines to reach and influence target markets. Audiovisual materials, such as DVDs and online videos, are also being used increasingly as communication tools. Corporate identity materials can also help create a corporate identity that the public immediately recognizes. Logos, stationery, brochures, signs, business forms, business cards, buildings, uniforms, and company cars and trucks all become marketing tools when they are attractive, distinctive, and memorable. Finally, companies can improve public goodwill by contributing money and time to public service activities.

Ginder Marketing test 3 CH 9,10,11 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards