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marketing
chp 15-18
| Question | Answer |
|---|---|
| Major types of retailers | department, discount, convenience, super markets,super stores, hypermarkets, warehouse clubs, warehouse showrooms |
| department stores | Large retail organizations with wide product mixes; employ at least 25 people |
| discount stores | Self-service, general merchandise outlets that regularly offer brand name and private brand products at low prices |
| convenience stores | Small, self-service stores that are open long hours and carry a narrow assortment of products, usually convenience items, as well as services such as automatic teller machines |
| super markets | Large self-service stores that carry a complete line of food products and some nonfood products |
| super stores | Giant retail outlets that carry products ordinarily found in supermarkets, but also routinely purchased consumer products |
| hypermarkets | Combine supermarket and discount store shopping in one location |
| warehouse clubs | Large-scale, members-only selling operations combining cash-and-carry wholesaling and discount retailing |
| warehouse showroms | Retail facilities in large, low-cost buildings with warehouse materials-handling technology, vertical merchandise displays, large on-premises inventories,and minimal services |
| traditional specialty retailers | carry a narrow product mix with deep product lines They are sometimes called limited-line retailers. |
| category killers | are very large specialty stores concentrating on a major product category and competing on the basis of low prices and product availability |
| off price retailers | buy manufacturers’ seconds, overruns, returns, and off-season production runs at below-wholesale prices for resale to consumers at deep discounts |
| NEIGHBORHOOD SHOPPING CENTERS | Usually consist of several small convenience and specialty stores |
| community shopping centers | Contain one or two department stores,some specialty stores, and convenience stores |
| regional shopping centers | Feature the largest department stores, widest product mixes, and deepest product lines of all shopping centers |
| superregional shopping centers | Have the widest and deepest product mixes |
| lyfestyle shopping centers | Typically open-air and feature upscale stores |
| power shopping centers | Combine off-price stores with category killers |
| retail positioning | Identifying an unserved or underserved market segment and serving it through a strategy that distinguishes the retailer from others in the minds of consumers |
| store image | Projecting a functional and psychological picture that appeals to the target market |
| atmospherics | The physical elements in a store’s design that appeal to consumer’s emotions and encourage buying |
| category management | A retail strategy of managing groups of similar, often substitutable, products produced by different manufacturers |
| direct marketing | The use of telephone, Internet, and nonpersonal media to communicate product and organizational information to customers |
| catalog marketing | When an organization provides a catalog from which customers make selections and place orders via mail, telephone, or the Internet |
| direct response marketing | Occurs when a retailer advertises a product and makes it available through mail or telephone orders |
| telemarketing | The performance of marketing-related activities by telephone |
| television home shopping | Presents products to television viewers who make purchases using toll-free numbers and pay with credit cards |
| franchising | An arrangement in which a supplier, or franchiser, grants a dealer, or franchisee, the right to sell products in exchange for some type of consideration |
| wholesaling | All transactions in which products are bought for resale, for making other products, or for general business operations |
| merchant whoelsalers | Independently owned businesses that take title to goods, assume risks associated with ownership, and generally buy and resell products to other wholesalers, business customers, or retailers |
| general merchandise wholesalers | Carry a wide product mix, but offer limited depth within product lines |
| limited-line wholesalers | : Carry few product lines, but offer an extensive assortment of products within those lines |
| specialty-line wholesalers | Offer the narrowest range of products |
| rack jobbers | Full-service, specialty-line wholesalers that own and maintain display racks in supermarkets, drugstores, and discount and variety stores |
| brokers | Intermediaries that buyers and sellers employ temporarily |
| agents | Represent either buyers or sellers on a permanent basis |
| manufacturers agents | Independent intermediaries who represent sellers and usually offer customers complete product lines |
| selling agents | Market either all of a specified product line or a manufacturer’s entire output |
| commission markets | Receive goods on consignment from local sellers and negotiate sales in large, central markets |
| sales branches | Manufacturer-owned intermediaries that sell products and provide support services to the manufacturer’s sales force |
| sales offices | Manufacturer-owned operations that provide services normally associated with agents; they carry no inventory |
| intergrated marketing communications | Coordination of promotion and other marketing efforts to ensure maximum informational and persuasive impact on customers |
| decoding the message | communications channel, decoding process, noise, feedback, channels capacity |
| promotion | Communication that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and to accept its products |
| primary demand | : Demand for a product category rather than a specific brand |
| pioneer promotion | Promotion that informs consumers about a new product |
| selective demand | Demand for a specific brand |
| 4 elements of promotion mix | personal selling, advertising, public relations, sales promotion |
| types of interpersonal communications | Kinesic: Body language; communicating through movement of the head, eyes, arms, hands, legs, or torso Proximic: Communicating by varying the physical distance between two parties in face-to-face interactions Tactile: Communication through touching |
| push policy | Promoting a product to the next institution down the marketing channel |
| pull policy | Promoting a product directly to consumers in order to develop strong consumer demand |
| buzz marketing | : An attempt to incite publicity and public excitement surrounding a product through a creative event |
| viral marketing | A strategy to get consumers to share a marketer’s message, often through email or online video, in a way that spreads dramatically and quickly |
| institutional advertising | Promotes organizational images, ideas, and political issues |
| advocasy advertising | A type of institutional advertising that promotes a company’s position on a public issue |
| product advertising | Promotes the uses, features, and benefits of products |
| pioneer advertising | : Focuses on stimulating demand for a product category by informing potential buyers about the product’s features, uses, and benefits |
| competative advertising | : Attempts to stimulate demand for a specific brand by indicating its features, uses, and advantages relative to competing brands |
| comparative advertising ( forms of competative adv) | Compares the sponsor brand with other brand(s) on the basis of one or more product characteristics |
| reminder advertising (forms of competative adv) | : Tells customers than an established brand is still around and offers certain characteristics and benefits |
| reinforcement advertising (forms of competative adv) | Assures current users that they have made the right choice and shows how to get the most satisfaction from the brand |
| advertising appropriations | The total amount of money a marketer allocates for advertising during a time period |
| objective and task approach | Determining the campaign objectives and calculating the costs of the tasks needed to accomplish them |
| percent of sales approach | Budgeting for an advertising campaign by multiplying the firm’s past and expected sales by a standard percentage |
| competition matching appraoch | Determining an advertising budget by trying to match competitor’s advertising outlays |
| arbitrary appraoch | Budget specified by high-level executives in the firm; can lead to under- or over-spending |
| media plan | Sets forth the exact media vehicles to be used in an advertising campaign and the dates and times the advertisements will appear |
| three basic types of media schedules | 1.Continuous: Ads run at a constant level 2.Flighting: Ads run periodically, alternating with periods when no ads run 3.Pulsing: Combining continuous and flighting |
| pretest | Evaluation of advertisements performed before a campaign begins |
| consumer jury | A panel of existing/potential buyers of the advertised product who are asked to judge the advertisements |
| posttest | Evaluation of advertising effectiveness after the campaign |
| recognition test | : Individual respondents are shown the advertisement and asked whether they recognize it |
| unaided recall | Asks subjects to identify recently-seen ads, but does not provide clues |
| aided recall | Asks subjects to identify recently-seen ads and provides clues to jog their memories |
| prospecting | Developing a database of potential customers |
| preapproach | Before contacting them, the salesperson analyzes information about the prospect’s needs |
| appraoch | The manner in which a salesperson contacts a potential customer |
| overcoming objectives | Effective salespeople anticipate and counter objections before the prospect raises them |
| close sale | The stage in the personal selling process when the salesperson asks the prospect to buy the product |
| 0rder getters | Sell to new customers and increase sales to current customers, also called creative selling |
| order takers | : Primarily seek repeat sales; generate the bulk of a firm’s total sales |
| support personnel | : Staff members who facilitate selling but are not involved solely with making sales |
| team selling | : Using a team of experts from all functional areas of a firm, led by a salesperson, to conduct the personal selling process |
| relationship selling | Building mutually beneficial long-term associations with a customer through regular communications over prolonged periods of time |
| staright salary compensation plan | : Salespeople are paid a specified amount, regardless of effort |
| straight commission compansation plan | Compensation determined solely by sales for a given period |
| combination compensation plan | : Salespeople are paid a fixed salary plus commission based on sales volume |
Created by:
loverockstar92