Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
12 Cards in this Set
- Front
- Back
Discrepancy
|
what is produced and what is demanded is not equal
|
|
Direct Channel
|
• A distribution channel in which producers sell directly to consumers
|
|
Channel Conflict
|
• A distribution channel in which producers sell directly to consumers
|
|
Channel Conflict
|
• Channel conflict = Channel competition
|
|
Service
|
• Result of applying human or mechanical efforts to people or objects
|
|
How Services Differ From Goods
|
• Intangible
• Inseparable • Heterogeneous- various types • Perishable |
|
Branding
|
• Want a positive response from consumers
• Want to leave impression in your brain o Positive thoughts |
|
Role of Promotion
|
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
|
• What combination of promotional tools will be used to reach the target market and fulfill the organizations overall goals
o Advertising o Public relations o Sales promotion o Personal selling |
|
What’s a Public?
|
• A group of people who have similar interests around a particular topic
o Very loose geographic boundaries o Encompasses a wide range of ages o Can span races or nationalities o Are seldom assembled or visible • Expect for conventions/events |
|
Sales Promotion
|
• Marketing activities (other than personal selling, advertising, and public relations) that stimulate consumer buying and dealer effectiveness
|
|
Marketing Channel Functions
|
• Specialization
• Overcoming discrepancies- evens out supply and demand o Quantity o Assortment o Time space • Providing constant efficiency |