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Mktg 6 vocab 12-17
Test 3 review vocab straight from book
| Question | Answer |
|---|---|
| assurance | the knowledge and courtesy of employees and their ability to convey trust |
| core service | the most basic benefit the consumer is buying |
| credence quality | a characteristic that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience |
| empathy | caring, individualized attention to customers |
| experience quality | a characteristic that can be assessed only after use |
| gap model | a model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality |
| heterogeneity | the variability of the inputs and outputs of services, which causes services to tend to be less standardized and uniform than goods |
| inseparability | the inability of the production and consumption of a service to be separated; consumers must be present during the production |
| intangibility | the inability of services to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed |
| internal marketing | treating employees as customers and developing systems and benefits that satisfy their needs |
| mass customization | a strategy that uses technology to deliver customized services on a mass basis |
| nonprofit organization | an organization that exists to achieve some goal other than the usual business goals of profit, market share, or return on investment |
| nonprofit organization marketing | the effort by nonprofit organizations to bring about mutually satisfying exchanges with target markets |
| perishability | the inability of services to be stored, warehoused, or inventoried |
| public service advertisement (PSA) | an announcement that promotes a program of a federal, state, or local government or of a nonprofit organization |
| reliability | the ability to perform a service dependably, accurately, and consistently |
| responsiveness | the ability to provide prompt service |
| search quality | a characteristic that can be easily assessed before purchase |
| service | the result of applying human or mechanical efforts to people or objects |
| supplementary services | a group of services that support or enhance the core service |
| tangibles | the physical evidence of a service, including the physical facilities, tools, and equipment used to provide the service |
| agents and brokers | wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers |
| arm’s-length relationship | a relationship between companies that is loose, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service |
| channel conflict | a clash of goals and methods between distribution channel members |
| channel control | a situation that occurs when one marketing channel member intentionally affects another member’s behavior |
| channel leader (channel captain) | a member of a marketing channel that exercises authority and power over the activities of other channel members |
| channel members | all parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer |
| channel partnering (channel cooperation) | the joint effort of all channel members to create a channel that serves customers and creates a competitive advantage |
| channel power | the capacity of a particular marketing channel member to control or influence the behavior of other channel members |
| cooperative relationship | a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company’s goals |
| direct channel | a distribution channel in which producers sell directly to consumers |
| discrepancy of assortment | the lack of all the items a customer needs to receive full satisfaction from a product or products |
| discrepancy of quantity | the difference between the amount of product produced and the amount an end user wants to buy |
| dual distribution (multiple distribution) | the use of two or more channels to distribute the same product to target markets |
| exclusive distribution | a form of distribution that establishes one or a few dealers within a given area |
| horizontal conflict | a channel conflict that occurs among channel members on the same level |
| integrated relationship | a relationship between companies that is tightly connected, with linked processes across and between firm boundaries and high levels of trust and interfirm commitment |
| intensive distribution | a form of distribution aimed at having a product available in every outlet where target customers might want to buy it |
| logistics | the efficient and cost-effective forward and reverse flow and storage of goods, services, and related information into, through, and out of channel member companies |
| marketing channel (channel of distribution) | a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer |
| merchant wholesaler | an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them |
| retailer | a channel intermediary that sells mainly to consumers |
| selective distribution | a form of distribution achieved by screening dealers to eliminate all but a few in any single area |
| spatial discrepancy | the difference between the location of a producer and the location of widely scattered markets |
| strategic channel alliance | a cooperative agreement between business firms to use the other’s already established distribution channel |
| temporal discrepancy | a situation that occurs when a product is produced but a customer is not ready to buy it |
| vertical conflict | a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer |
| automatic replenishment program | a real-time inventory system that triggers shipments only when a good is sold to the end user |
| business processes | bundles of interconnected activities that stretch across firms in the supply chain |
| customer relationship management (CRM) process | allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain |
| customer service management process | presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced |
| demand management process | seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior |
| distribution resource planning (DRP) | an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer |
| electronic data interchange (EDI) | information technology that replaces the paper documents that usually accompany business transactions,ie. orders and invoices, with electronic transmission of the needed information to , and increase the speed and accuracy of information transmission |
| electronic distribution | a distribution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals |
| inventory control system | a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturer’s or a customer’s demand |
| just-in-time production (JIT) | a process that redefines and simplifies manufacturing by reducing inventory levels and delivering raw materials at the precise time they are needed on the production line |
| logistics | the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption |
| logistics information system | the link that connects all the logistics functions of the supply chain |
| manufacturing flow management process | concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process |
| mass customization (build-to-order) | a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications |
| materials requirement planning (MRP) (materials management) | an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer |
| materials-handling system | a method of moving inventory into, within, and out of the warehouse |
| order fulfillment process | a highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time |
| order processing system | a system whereby orders are entered into the supply chain and filled |
| outsourcing (contract logistics) | a manufacturer’s or supplier’s use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing |
| product development and commercialization process | includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms |
| returns management process | enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain |
| supplier relationship management process | closely related to the manufacturing flow management process and contains several characteristics that parallel the customer relationship management process |
| supply chain | the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function |
| supply chain integration | when multiple firms in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer |
| supply chain management | a management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value |
| supply chain team | an entire group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer |
| atmosphere | the overall impression conveyed by a store’s physical layout, decor, and surroundings |
| automatic vending | the use of machines to offer goods for sale |
| buyer | a department head who selects the merchandise for his or her department and may also be responsible for promotion and personnel |
| category killers | specialty discount stores that heavily dominate their narrow merchandise segment |
| chain stores | stores owned and operated as a group by a single organization |
| convenience store | a miniature supermarket, carrying only a limited line of high-turnover convenience goods |
| department store | a store housing several departments under one roof |
| destination stores | stores that consumers purposely plan to visit |
| direct marketing (direct response marketing) | techniques used to get consumers to make a purchase from their home, office, or other nonretail setting |
| direct retailing | the selling of products by representatives who work door-to-door, office-to-office, or at home sales parties |
| discount store | a retailer that competes on the basis of low prices, high turnover, and high volume |
| drugstore | a retail store that stocks pharmacy-related products and services as its main draw |
| factory outlet | an off-price retailer that is owned and operated by a manufacturer |
| franchise | the right to operate a business or to sell a product |
| franchisee | an individual or business that is granted the right to sell another party’s product |
| franchisor | the originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product |
| full-line discount store | a retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods” |
| gross margin | the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted |
| independent retailers | retailers owned by a single person or partnership and not operated as part of a larger retail institution |
| mass merchandising | a retailing strategy using moderate to low prices on large quantities of merchandise and lower levels of service to stimulate high turnover of products |
| nonstore retailing | shopping without visiting a store |
| off-price retailer | a retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn’t ask for return privileges |
| online retailing | a type of shopping available to consumers with personal computers and access to the Internet |
| product offering | the mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix |
| retailing | all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use |
| retailing mix | a combination of the six Ps—product, place, promotion, price, presentation, and personnel—to sell goods and services to the ultimate consumer |
| scrambled merchandising | the tendency to offer a wide variety of nontraditional goods and services under one roof |
| specialty discount store | a retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover |
| specialty store | a retail store specializing in a given type of merchandise |
| supercenter | a retail store that combines groceries and general merchandise goods with a wide range of services |
| supermarket | a large, departmentalized, self-service retailer that specializes in food and some nonfood items |
| telemarketing | the use of the telephone to sell directly to consumers |
| warehouse membership clubs | limited-service merchant wholesalers that sell a limited selection of brand name appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups |
| advertising | impersonal, one-way mass communication about a product or organization that is paid for by a marketer |
| AIDA concept | a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action |
| channel | a medium of communication—such as a voice, radio, or newspaper—for transmitting a message |
| communication | the process by which meanings are exchanged or shared through a common set of symbols |
| competitive advantage | the unique set of features of a company and its products that are perceived by the target market as significant and superior to the competition |
| decoding | interpretation of the language and symbols sent by the source through a channel |
| encoding | the conversion of a sender’s ideas and thoughts into a message, usually in the form of words or signs |
| feedback | the receiver’s response to a message |
| integrated marketing communications (IMC) | the careful coordination of all promotional messages for a product or a service to assure the consistency of messages at every contact point where a company meets the consumer |
| interpersonal communication | direct, face-to-face communication between two or more people |
| mass communication | the communication of a concept or message to large audiences |
| noise | anything that interferes with, distorts, or slows down the transmission of information |
| personal selling | a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other |
| promotion | communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response |
| promotional mix | the combination of promotional tools—including advertising, public relations, personal selling, and sales promotion—used to reach the target market and fulfill the organization’s overall goals |
| promotional strategy | a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, and sales promotion |
| public relations | the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance |
| publicity | public information about a company, product, service, or issue appearing in the mass media as a news item |
| pull strategy | a marketing strategy that stimulates consumer demand to obtain product distribution |
| push strategy | a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise |
| receiver | the person who decodes a message |
| sales promotion | marketing activities—other than personal selling, advertising, and public relations—that stimulate consumer buying and dealer effectiveness |
| sender | the originator of the message in the communication process |
| advergaming | placing advertising messages in Web-based or video games to advertise or promote a product, service, organization, or issue |
| advertising appeal | a reason for a person to buy a product |
| advertising campaign | a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals |
| advertising objective | a specific communication task that a campaign should accomplish for a specified target audience during a specified period |
| advertising response function | a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns |
| advocacy advertising | a form of advertising in which an organization expresses its views on controversial issues or responds to media attacks |
| audience selectivity | the ability of an advertising medium to reach a precisely defined market |
| cause-related marketing | a type of sponsorship involving the association of a for-profit company and a nonprofit organization; through the sponsorship, the company’s product or service is promoted, and money is raised for the nonprofit |
| comparative advertising | a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes |
| competitive advertising | a form of advertising designed to influence demand for a specific brand |
| continuous media schedule | a media scheduling strategy in which advertising is run steadily throughout the advertising period; used for products in the later stages of the product life cycle |
| cooperative advertising | an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer’s brand |
| cost per contact | the cost of reaching one member of the target market |
| crisis management | a coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event |
| flighted media schedule | a media scheduling strategy in which ads are run heavily every other month or every two weeks, to achieve a greater impact with an increased frequency and reach at those times |
| frequency | the number of times an individual is exposed to a given message during a specific period |
| infomercial | a 30-minute or longer advertisement that looks more like a television talk show than a sales pitch |
| institutional advertising | a form of advertising designed to enhance a company’s image rather than promote a particular product |
| media mix | the combination of media to be used for a promotional campaign |
| media planning | the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience |
| media schedule | designation of the media, the specific publications or programs, and the insertion dates of advertising |
| medium | the channel used to convey a message to a target market |
| pioneering advertising | a form of advertising designed to stimulate primary demand for a new product or product category |
| product advertising | a form of advertising that touts the benefits of a specific good or service |
| product placement | a public relations strategy that involves getting a product, service, or company name to appear in a movie, or other media channels, or at special events |
| pulsing media schedule | a media scheduling strategy that uses continuous scheduling throughout the year coupled with a flighted schedule during the best sales periods |
| reach | the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks |
| seasonal media schedule | a media scheduling strategy that runs advertising only during times of the year when the product is most likely to be used |
| sponsorship | a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image |
| unique selling proposition | a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign |
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romoore245
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