Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
MKTG Exam 4
| Question | Answer |
|---|---|
| Independant Retailers | Locally owned by individuals |
| Corporate Chains | Mall stores, one home office operates every location similar policys/merchandise across stores |
| Contractual systems | Independent stores that work together and act as chain (most fast food) |
| Self Service | not self checkout (atm, vending, RED BOX) |
| Limited | Provide some service, mall stores (walmart, target) |
| Full Service | restraints, (bridal stores) NORDSTROMS |
| Merchandise Line | Describes how many different types of products a store carries and in what assortment |
| Depth of merchandise line | Store carries a large assortment of each product item (shoe/bookstore) |
| Breadth | the VARIETY of different product items a store carrys, limited depth (walmart) |
| Catergory Killers | dominate market from small businesses best buy, barns and Nobel |
| Scramble Merchandising | offering several unrelated product line in a single store |
| Hyper Market | form of scrambled which consists of a large store that offers everything in a single outlet eliminating the need for consumers to shop at more than one location (everything under one roof) supercenter |
| Intertype Competition | Competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy |
| Non Store retailing | vending machines and direct selling personal interaction in home/office (Mary Kay) |
| Central Business District | oldest (downtown) |
| Regional shopping center | 50 to 150 stores 2 to 3 anchor stores (bigger Malls) |
| Community shopping Center | One Primary Store, 20 to 40 smaller outlets (smaller malls, Manhattan) |
| Strip Mall | Cluster of neighborhood stores, in bigger citys |
| Power Center | huge shopping strip with multiple anchor stores (mall of America) |
| Mulitchannel Retailers | Utilize Intergraded a combination of traditional store formats and nonstore formats catalogs |
| Retialing Mix | activities related to managing the store and the merchandising in the store, which include retail pricing store location, retail communication and merchandise |
| Off price retailing | consists of selling brand name merchandise at lower than regular prices(tj max) |
| Choice Board | an interactive diitally enabled system that allows indicidual customers to design their own products and services by answering a few questions and choosing from a menue of product or service attributes pirces and delivery options (Mand M's) |
| Personalization | Consumer initiated practice of generating content on a marketers website that is custom tailored to an individuals specific needs preferences |
| Collaborative Filtering | a process that automatically groups people with similar buying intentions preferences and behaviors and predicts future purchases (Netflix Recommendations) |
| Permission Marketing | Sokicitation of a consumers consent to receive email and advertising based on personal data supplied by the consumer (opt in or opt out) |
| Online Consumers | the subsegment of all internet users who employ this technology to research products and services and make purchases |
| What consumers buy online | standardized items (playstation) |
| 8 second rule | must load withen 8 secs |
| Customization | practice of not only customizing a product or service but also |
| Dynamic Pricing | practice of changing price for products and services in real time in response to supply and demand conditions |
| cookies | computer files that a marketer can dowload onto the computer and mobile phone of an online shopper who visits the marketers website |
| Behavioral Targeting | Uses info provided by cookies for directing online advertising from marketer to those online shoppers whose behavioral profiles suggest they would be interested in such advertising |
| Social Commerce | Use of social networking for browsing and buying |
| Subsciption Commerce | payment to have products delivered on recurring schedule |
| Cross Channel Consumers | Consumer who shops online buys offline or opposite |
| Social Media | Digital Technology That facilitates the creation and sharing of user generated text photos video and networks (all sites |
| Social Network | a SINGLE social media site |
| Influencer Marketing | Focusing on identification and recruitment of influencers to advocate a companys products services and brands |
| Social Shopping | sharing what you bough about on social media |
| Customer Engagement | degree and depth of brand focused interactions a customer chooses to perform online |
| CPA | Cost per action |
| CPM | cost per thousand |
| CPC | cost per click |
| Apps | small downloadable software programs that can run on smartphones and tablet devices |
| Sales Management | Consists of planning the selling program and implementing and evaluating the personal selling |
| Relationship Selling | practice of building ties to customers based on salesperson attention and commitment to customer needs over time |
| Order Taker | processes routine order or reorder for products that were already sold by the company |
| 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 customers use of a product or service (more knowledge and training than taker) |
| Personal selling process | sales activities occuring before during and after sale itself |
| stimulus respons/suggestive selling | sales presentation format that assumes that given the appropriate stimulus by a salesperson the prospect will buy |
| Formula selling presentation/canned | sales presentation format that consists of information that must be provided in an accurate thorough and step by step manner (no breaks) |
| Need Satisfaction Presentation/ | presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers |
| Objections | excuses for not making a purchase commitment or decision (postpone) |
| OBjection in cost stage | asking for the order trial assumtive and urgency |
| objection stage follow up | ... |
| Salesforce automation | use of computer information communication and internet technologies to make the sales function more effective and efficient |
| marketing Automation | applies systems and technologies including AI algorithms to provide insights to sales people |
| Compensations | straight salary, straight commission, (combination) nonmonetary rewards |
| IMC | Intergrated Marketing communications: designing marketing communications programs the corrdinate all promotional activities |
| Promotinal Mix | combination of one or more communication tools used to inform buyers about benefits- persuade to try it- |
| promotion element 1 advertising | paying for space and time costs alot |
| promotion element 2 personal selling | having a sales person also expensive |
| promotional element 3 public relations | news conference news release or public service announcement |
| promotional element 4 sales promotion | short term (coupons, buy one get one) easily abusd |
| promotional element 5 direct marketing | customized message based on cookies text email, only people whos info we already have |
| Advertising | paid form on nonpersonal communicatino often face to face influences a person or groups perchase |
| publlic realations | communication management that seeks to influence feelings opinons or beliefs held by customers |
| Personal selling | two way flow of communication often face to face influences a person or groups purchase |
| Sales promotion | short-term inducement of value offered to arouse interest in buying a product or service |
Created by:
JerseyMeyeres