Marketing test4

supply chain
includes all of the companies involved in all of the upstream and downstream flows of products, services, finances, and information, from initial suppliers (the point of origin) to the ultimate customer (the point of consumption).
supply chain management
coordinate and integrate all of the activities performed by supply-chain members into a seamless process
marketing channel
a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain. Channels represent the “place” or “distribution” element of the marketing mix.
Channel members
(also called intermediaries, resellers, and middlemen) negotiate with one another, buy and sell products, and facilitate the change of ownership between the buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer
Form utility
the elements of the composition and appearance of a product that make it desirable.
Time utility
the increase in customer satisfaction gained by making a good or service available at the appropriate time
Place utility
the usefulness of a good or service as a function of the location at which it is made.
Exchange utility
the increased value of a product that is created as its ownership is transferred.
Retailer
a channel intermediary that sells mainly to consumers.
Merchant wholesaler
an institution that buys goods from manufacturers and resell them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them
Agents and brokers
do not take title to the goods and services they market but facilitate the exchange of ownership between sellers and buyers.
Channel power
capacity of a particular marketing channel member to control or influence the behavior of other channel numbers.
Channel conflict
a clash of goals and methods among the members of a distribution channel
Retailing
represents all the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use.
The retailing mix consists of six Ps
the four Ps of the marketing mix (product, place, promotion, and price) plus presentation and personnel.
destination store
store consumers seek out and purposefully plan to visit.
An independent retailer
is owned by a single person or group and is not operated as part of a larger network.
chain store
part of the group of the same stores owned and operated by a single organization.
franchise
business where the operator is granted a license to operate and sell a product under a larger supporting organization.
Non-store Retailing
shopping without visiting a store.
Automatic vending
is the use of machines to offer goods for sale.
direct retailing
Representatives sell products door-to-door
Telemarketing
use of the telephone to sell directly to consumers.
Online retailing or e-tailing
type of shopping available to consumers with personal computers and access to the Internet.
franchisor
originates the trade name, product, methods of operation, and so on.
franchisee
pays the franchisor for the right to use its name, product, or business methods.
store’s atmosphere
overall impression conveyed by a store’s physical layout, d├ęcor, and surroundings.
influential factors in creating a stores atmospherre
Employee type and density Merchandise type and density Fixture type and density Sound Odors Visual factors
Service distribution focuses on four main areas
Minimizing wait times Managing service capacity Improving service delivery Establishing channel-wide network coherence
Data mining
uses complex mathematical models to help retailers make better product mix decisions.
Promotion
communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
Promotional strategy
plan for the optimal use of the elements of promotion: Advertising Public Relations Personal Selling Sales Promotion and Social Media
Competitive advantage
one or more unique aspects of an organization that causes target customers to patronize that firm rather than competitors.
Communication
process by which we exchange or share meaning through a common set of symbols.
Interpersonal communication
is direct, face-to-face communication between two or more people.
Mass communication
involves communicating a concept or message to large audiences.
The sender
originator of the message in the communication process. He or she encodes the message.
Encoding
conversion of the sender’s ideas and thoughts into a message.
channel
a voice, radio, newspaper, computer, Smart phone, or other communication medium. Most media are cluttered by noise- anything that interferes with, distorts, or slows down the transmission of information.
Advertising
any form of impersonal page communication in which the sponsor or company is identified
Public relations
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance.
Publicity
public information about a company, product, service, or issue appearing in mass media as a news item.
Sales promotion
consists of all marketing activities- other than personal selling, advertising, and public relations- that stimulate consumer purchasing and dealer effectiveness.
Personal selling
purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other.
Social media
promotion tools used to facilitate conversations among people online.
Paid media
based on the traditional advertising model, whereby a brand pays for media space.
Earned media
based on a public relations or publicity model. The idea is to get people talking about the brand.
Owned media
new form of promotional tactic where brands are becoming publishers of their own content in order to maximize the brand’s value to customers as well as increase its search rank in Google.
AIDA concept
which stands for: attention, interest, desire, and action
Integrated Marketing Communications (IMC)
careful coordination of all promotional messages for a product or a service to ensure the consistency of messages and every contact point at which a company meets the consumer.
Push strategy
marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise.
pull strategy
marketing strategy that stimulates consumer demand to obtain product distribution
Advertising Response Function
phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns.
Institutional advertising
form of advertising designed to enhance a company’s image rather than promote a particular product.
Product advertising
form of advertising that touts the benefits of a specific good or service
Advocacy advertising
form of advertising in which an organization expresses its views on controversial issues or response to media attacks.
Pioneer advertising
form of advertising designed to stimulate primary demand for a new product or product category.
Competitive advertising
form of advertising designed to influence demand for a specific brand.
Comparative advertising
form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes.
advertising campaign
series of related advertisements focusing on a common theme, slogan, and set up advertising appeals.
advertising objective
specific communication task that campaigns should accomplish for a specified target audience during a specified period.
advertising appeal
reason for a person to buy a product
unique selling proposition
desirable, exclusive, and believable advertising appeal selected as the theme for a campaign
medium
channel used to convey a message to a target market.
Media planning
series of decisions advertisers make regarding the selection and use of media, allowing the markets to optimally and cost-effectively communicate the message to the target audience.
Media types
Newspapers Cooperative advertising Magazines Radio Television The Internet Outdoor media Alternative media
media mix
combination of media to be used for a promotional campaign.
Cost per thousand (CPM)
referred to as cost per contact. CPM is the cost of reaching one member of the target market.
Cost per click
cost associated with a consumer clicking on a display or banner ad.
Reach
number of target customers who are exposed to a commercial at least once during a specific period, usually four weeks.
Audience selectivity
ability of an advertising medium to reach a precisely defined market.
media schedule
designates the medium or media to be used, the specific vehicles, and the insertion dates of the advertising.
continuous media
schedule advertising is run steadily throughout the advertising period; Used for products in the later stages of the product lifecycle.
flighted media schedule
advertiser may schedule the ads heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times.
pulsing media schedule
combines continuous scheduling with flighting. Certain times of the year call for a seasonal media schedule.
Public relations
element in the promotional mix that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance
Publicity
effort to capture media attention, often initiated through press releases that further a corporation’s public relations plans
Product placement
public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, videogame, video or audio clip, book or commercial for another product; on the Internet, or at special events
Sponsorship
public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image
Crisis management
coordinated effort to handle the effects of unfavorable publicity, ensuring fast and accurate communication in times of emergency.
Sales promotion
consists of marketing communication activities, other than advertising, personal selling, and public relations, in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value
Trade sales promotion
is directed to members of the marketing channel, such as wholesalers and retailers.
Consumer sales promotion
targeted to the ultimate consumer market.
coupon
certificate that entitles consumers to any media price reduction when the product is purchased
rebate
offers the purchaser a price reduction; however, because the purchaser must mail in a rebate form and usually some proof of purchase, the reward is not as immediate.
premium
extra item offered to the consumer, usually in exchange for some proof that the promoted product has been purchased
Contests and Sweepstakes
generally designed to create interest in a good or service, often to encourage brand switching
loyalty marketing program, or frequent buyer program
rewards loyal consumers from making multiple purchases
Sampling
allows the customer to try a product risk-free.
Point-Of-Purchase Promotion
includes any promotional display set up at the retailer’s location to build traffic, advertise the product, or induce impulse buying