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Marketing Test 3


marketing channel consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
multichannel marketing the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online
dual distribution an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product
vertical marketing systems professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
intensive distribution a firm tries to place its products and services in as many outlets as possible
exclusive distribution the extreme opposite of intensive distribution because only one retailer in a specified geographical area carries the firm's products
selective distribution lies between these two extremes and means that a firm selects a few trailers in a specific geographical area to carry its products
channel conflict arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals
disintermediation when a channel member bypasses another member and sells or buys products direct
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
supply chain refers to the various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users
total logistics cost includes expenses associated with transportation, materials handling and warehousing, inventory, stock outs, order processing, and return products handling
customer service the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience
vender-managed inventory whereby the supplier determines the product amount and assortment a customer needs and automatically delivers the appropriate items
reverse logistics is a process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal
promotional mix a combination of one or more of the communication tools
integrated marketing communications the concept of designing marketing communications programs that coordinate all promotional activities-advertising,personal selling,sales promotion, public relations, and direct marketing-to provide a consistent message across all audiences
communication the process of conveying a message to others and it requires six elements (source, message, channel of communication, receiver and processes of encoding and decoding)
source may be a company or person who has information to convey
message the information sent by a source
channel of communication the message is conveyed by it
receivers consumers who read, hear, or see the message
encoding process of having the sender transform an idea into a set of symbols
decoding process of having the receiver take a set of symbols, the message, and transform the symbols back to an idea
field of experience a similar understanding and knowledge they apply to the message
response the impact the message had on the receiver's knowledge, attitudes, or behaviors
feedback the sender's interpretation of the response and indicates whether the message was decoded and understood as intended
noise extraneous factors that can work against effective communication by distorting a message or the feedback received
advertising any paid form of non personal communication about an organization,product, service, or idea by an identified sponsor
persoanl selling the two-way flow of communication between a buyer and seller designed to influence a persons or groups purchase decision
public relations a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services
publicity a non personal, indirectly paid presentation of an organization product, or service
sales promotion a short-term inducement of value offered to arouse interest in buying a product or service
direct marketing uses direct communication with consumers to generate a response in the form of an order, a request for future information, or a visit to a retail outlet
push strategy directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product
pull strategy directing its promotional mix at ultimate consumers to encourage them to ask the retailer for a product
hierarchy of effects the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action
percentage of sales budgeting funds are allocated to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold
competitive parity budgeting matching the competitors absolute level of spending or the proportion per point of market share
all-you-can-afford-budgeting money is allocated to promotion only after all other budget items are covered
objective and task budgeting the company determines its promotion objectives, out-lines the tasks it will undertake to accomplish those objectives, and determines the promotion cost of performing those tasks
direct orders result of offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction
lead generation the result of an offer designed to generate interest in a product or service and a request for additional information
traffic generation the outcomes of an offer designed to motivate people to visit a business
advertising any paid form of non personal communication about an organization, a product, a service, or an idea by an identified sponsor
product advertisements three forms: pioneering, competitive, and reminder
institutional advertisements to build goodwill or an image for an organization rather than promote a specific good or service
reach the number of different people or households exposed to an advertisement
rating the percentage of households in a market that are tuned to a particular TV show or radio station
frequency the average number of times a personal in the target audience is exposed to a message or advertisement
gross rating points when reach is multiplied by frequency
cost per thousand the cost of reaching 1,000 individuals or households with the advertising message in a given medium
infomercials program-length advertisements that take an educational approach to communication with potential customers
pretests conducted before the advertisements are placed in any medium
full-service agency provides the most compete range of services, including market research, media selection, copy development, artwork, and production
limited-service agencies specialize in oen aspect of the advertising process such as providing creative services to develop the advertising copy, buying previously unpurchased media, or providing Internet services
in-house agencies made up of the company's own advertising staff may provide full services or a limited range of services
posttests an advertisement may go through ti after it has been shown to the target audience to determine whether it accomplished its intended purpose
consumer-oriented sales promotions sales tools used to support a company's advertising and personal selling
product placement involves the use of a brand-name product in a movie, television show, video game, or commercial for another product
trade-oriented sales promotions sales tools used to support a company's advertising and personal selling directed to wholesalers, retailers, or distributors
cooperative advertising to encourage both better quality and greater quantity in the local efforts of resellers
publicity tools methods of obtaining non personal presentation of an organization, product or service without direct cost
Created by: ccanizares