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Marketing Exam 4

Chapters 12-18

Channel Conflict Arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals.
Customer Service The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience.
Disintermediation Channel conflict arises when a channel member bypasses another member and sells or buys products direct
Dual Distribution An arrangement whereby a firm reaches different buyers by employing to or more different types of channels for the same basic product
Exclusive Distribution A level of distribution density whereby only one retailer in a specific geographical area carries a firm's products
Intensive Distribution A level of distribution density whereby a firm tries to place its products and services in as many outlets as possible
Logistics 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
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
Reverse Logistics A process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal
Selective Distribution A level of distribution density whereby a firm selects a few retailers in a specific geographical area to carry its products
Supply Chain The various firm involved in performing the activities required to create and deliver a product or service to consumers or industrial users
Total Logistics Cost Expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return products handling
Vendor-Managed Inventory (VMI) An inventory-management system whereby the supplier determines the product amount and assortment a customer (such as a retailer) needs and automatically delivers the appropriate items
Vertical Marketing Systems Professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact.
Brokers Independent firms or individuals whose principal function is to bring buying and sellers together to make sales
Category Management An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and prof
Manufacturer's Agents Agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory
Merchant Wholesalers Independently owned firms that take title to the merchandise they handle
Multichannel Retailers Retailers that utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television home shopping, and online retailing.
Retail life Cycle The process of growth and decline that retail outlets, like products, experience. Consists of the early growth, accelerated development, maturity, and decline stages
Retailing All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family,
Retailing Mix The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise
Scrambled Merchandising Offering several unrelated product lines from a single store.
Shopper Marketing The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store
Telemarketing Using the telephone to interact with and sell directly to consumers
Wheel of Retailing A concept that describes how new forms of retail outlets enter the market
Advertising Any paid form of nonpersonal communication about an organization, produce, service, or idea by an identified sponsor
Communication The process of conveying a message to other that requires six elements: A SOURCE, A MESSAGE, A CHANNEL OF COMMUNICATION, A RECEIVER, AND THE PROCESSES OF ENCODING AND DECODING
Direct Marketing A promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet.
Direct Orders The result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction.
Hierarchy of Effects The sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action. The stages include: AWARENESS, INTEREST, EVALUATION, and ADOPTION
Ingegrated Marketing Communications (IMC) 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
Lead Generation The result of a direct marketing offer designed to generate interest in a product or service and a request for additional information.
Personal Selling The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
Promotional Mix The combination of of one or more communication tools used to: (1) inform prospective buyers about the benefits (2) persuade them to try it (3) remind them later about the benefits they enjoyed
Public Relations A form of communication management that seks 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 nonpersonal, indirectly paid presentation of an organization, product, or service
Pull Strategy Directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product
Push Strategy Directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product.
Sales Promotion A short-term inducement of value offered to arouse interest in buying a product of service
Traffic Generation The outcome of a direct marketing offer designed to motivate people to visit a business.
Advertising Any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor
Consumer-oriented sales promotions Sales tools used to support a company's advertising and personal selling directed to ultimate consumers
Cooperative Advertising Advertising programs by which a manufacturer pays a percentage of the reatiler's local advertising expense for advertising the manufacturer's products
Infomercials Program length (30 minute) advertisements that take an educational approach to communication with potential customers
Institutional Advertisements Advertisements designed to build goodwill or an image for an organization rather than promote a specific product or service
Posttests Tests conducted after an advertisement has been shown to the target audience to determine whether it accomplished its intended purpose
Pretests Tests conducted before an advertisement is placed in any medium to determine whether it communicates the intended message or to select among alternative versions of the advertisement
Product Advertisements Advertisements that focus on selling a product or service and which take three forms: (1) pioneering (or informational) (2) competitive (persuasive) (3) reminder
Product Placement A consumer sales promotion tool that uses a brand-name product in a movie, television show, video game, or a commercial for another product
Publicity Tools Methods of obtaining nonpersonal presentation of an organization product, or service without direct cost, such as new releases, news conferences, and public service announcements
Trade-oriented sales promotions Sales tools used to support a company's advertising and personal selling directed to wholesalers, distributors, or retailers
Apps Small, downloadable software programs that can run on smartphones and tablet devices
Blog A contraction of 'web log' is a web page that serves as a publicly accessible personal journal and online forum for an individual or organization
Facebook A website where users may create a personal profile, add other users as friends, and exchange comments, photos, videos, and 'likes' with them
LinkedIn A business oriented website that lets users post their professional profiles to connect to a network of business people, who are also called connections
Social Media Online media where users submit comments, photos, and videos -- often accompanied by a feedback process to identify 'popular' topics
Twitter A website that enables users to send and receive 'tweets', messages up to 140 characters long
User Generated Content (UGC) The various forms of online media content that are publicly available and created by end users
YouTube A video-sharing website in which users can upload, view, and comment on videos
Account Management Policies Specifies who salespeople should contact, wht kinds of selling and customer service activities should be engaged in, and how these activities should be carried out
Adaptive Selling A need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask or more information
Consultative Selling A need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution
Major Account Management The practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships
Order Getter Sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on consumers use of a product or servce
Order Taker Processes routine orders or reorders for products that were already sold by the company
Personal Selling The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
Personal Selling Process Sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) PROSPECTING (2) PREAPPROACH (3) APPROACH (4) PRESENTATION (5) CLOSE (6) FOLLOW UP
Relationship Selling The practice of building ties to customers based on salesperson's attention and commitment to customer needs over time
Sales Management Planning the selling program and implementing and evaluating the personal selling effort of the firm
Sales Plan A statement describing what is to be achieved and where and how the selling effort of salespeople is to be destroyed
Sales Quota Specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period
Salesforce Automation (SFA) The use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient
Created by: 595032255
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