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Marketing Exam 4
Chapters 12-18
| Term | Definition |
|---|---|
| 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 |
| A website where users may create a personal profile, add other users as friends, and exchange comments, photos, videos, and 'likes' with them | |
| 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 |
| 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 |
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