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Marketing II

QuestionAnswer
1. WHAT THREE STEPS DOES THE CHOICE OF A SUPPLY CHAIN INVOLVE? 1)Understand the customer 2)Understand the supply chain 3)Harmonize the supply chain with the marketing strategy
2. THE OBJECTIVE OF INFORMATION LOGISTICS MANAGEMENT IN A SUPPLY CHAIN IS TO • Logistics involves 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.
Customer Service Concept: • Time • Dependability • Communication • Convenience
3. HOW DOES CONSUMER DEMAND INFORMATION INCREASE SUPPLY CHAIN RESPONSIVENESS AND EFFICIENCY? • Knowing consumer demand will help companies manage their inventory. It will help with order processing. It will also help with choosing an inventory management system.
4. WHAT ARE THE STRENGTHS AND WEAKNESSES OF A JUST-IN-TIME SYSTEM? • JIT concept requires a long amount of inventory and fast, on time delivery. Neither before nor after they are needed. Useful for businesses where demand forecasting is reliable.
5. LIST THE LOGISTICS CUSTOMER SERVICE FACTORS 1. TRANSPORTATION 2. WAREHOUSING/MATERIALS HANDLING 3. ORDER PROCESSING 4. INVENTORY MANAGEMENT
1. WHAT ARE THE TWO DIMENSIONS OF THE RETAIL POSITIONING MATRIX? • Breadth of Product Line: Range of products sold through each outlet. Vs. • Value Added: Location, Product Reliability, Prestige.
3. IN RETAIL PRICING, RETAILERS OFTEN HAVE A MAINTAINED MARKUP. EX¬PLAIN HOW THIS MAINTAINED MARKUP DIFFERS FROM ORIGINAL MARKUP AND WHY IT IS SO IMPORTANT. • Original Markup refers to the difference between the retailer cost and the initial selling price. The maintained markup is the difference between the final selling price and the retailer cost. GROSS MARGIN
THREE MAIN ELEMENTS OF THE RETAILING MIX • Retail Pricing • Store Location • Retail Communication • Merchandise
1. WHAT ARE THE FOUR I'S OF SERVICES? • INTANGIBILITY • INCONSISTENCY • INSEPERATABILITY • INVENTORY
3. TO ELIMINATE INCONSISTENCIES, ORGANIZATIONS RELY ON ? AND ? TO ELIMINATE INCONSISTENCIES, ORGANIZATIONS RELY ON STANDARDIZATION AND TRAINING.
CONSUMERS JUDGE SERVICE QUALITY ALONG FIVE KEY DIMENSIONS Tangibles: Appearance of physical facilities Reliability: Accuracy Responsiveness: Prompt Assurance: Questions/Answers Empathy: Knowing the Customer
EFINE INTEGRATED MARKETING COMMUNICATIONS. The concept of designing marketing communications programs that coordinate all promotional activities
2. WHAT ARE THE SIX ELEMENTS REQUIRED FOR COMMUNICATION TO OCCUR? Source, Message, Channel, Receiver, Encoding, Decoding
3. EXPLAIN THE DIFFERENCE BETWEEN ADVERTISING AND PUBLICITY WHEN BOTH APPEAR ON TELEVISION. • Advertising: Directly PAID form of non-personal communication about an organization, good, service, or idea by an identified sponsor • Publicity: A non-personal, INDIRECTLY paid presentation of an organization, good, or service.
4. WHAT ARE THE THREE ELEMENTS OF THE PROMOTION DECISION PROCESS AND DESCRIBE THE ACTIVITIES UNDER EACH. Planning (Developing Promotional Program Implementation (Executing Promotional Program) Control (Evaluation Promotional Program)
7. DESCRIBE THE PROMOTIONAL OBJECTIVE FOR EACH STAGE OF THE PRODUCT LIFE CYCLE? Introduction: To inform Growth: To persuade Maturity: To Remind Decline: No money spent on promotion
8. AT WHAT STAGE OF THE CONSUMER PURCHASE DECISION IS THE IMPORTANCE OF PERSONAL SELLING HIGHEST? WHY? • Growth Stage: Personal selling is used to solidify the channels of distribution.
9. EXPLAIN THE DIFFERENCES BETWEEN A PUSH STRATEGY AND A PULL STRATEGY. Push Strategy: Directing the promotional mix to channel members. To gain their cooperation in ordering and stocking a product (Offer Discounts) Pull Strategy: Directing promotional mix at consumers to encourage them to ask the retailer for the product.
THE FIVE ELEMENTS OF THE PROMOTIONAL MIX Advertising Personal Selling Public Relations Sales Promotion Direct Marketing
2. WHAT IS THE DIFFERENCE BETWEEN AIDED AND UNAIDED RECALL POST-TESTS? • Aided Recall: After being shown an add, viewers are asked whether their exposure to the add was through viewing, listening or reading.
4. WHAT ARE THE THREE COMMON ADVERTISING APPEALS? • Pioneering (information) • Competitive (persuasive) • Reminder
5. DEFINE THE BASIC TERMS USED IN MEDIA DECISIONS - REACH, RATING, FREQUENCY, GROSS RATING POINTS, COST PER THOUSAND.
Created by: furiousgeorge19
 

 



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