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Marketing Test 3
15,17,18
| Term | Definition |
|---|---|
| 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
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