Ch12

Front 1

pricing

Back 1

the process of determining what a company will receive in exchange for its products

Front 2

pricing objectives

Back 2

are goals that sellers hope to attain in pricing products for sale

Front 3

market share

Back 3

a company's percentage of the total industry's sales for a specific product

Front 4

cost-oriented pricing

Back 4

pricing that considers the firm's desire to make a profit and its need to cover production costs

Front 5

markup

Back 5

amount added to an items cost to sell it at a profit

Front 6

variable cost

Back 6

cost that change with the quantity of a product produced and sold

Front 7

fixed cost

Back 7

cost that is incurred regardless of the quantity of a product produced and sold

Front 8

breakeven analysis

Back 8

for a particular selling price,assessment of the seller's cost versus revenues at various sales volumes

Front 9

breakeven point

Back 9

sales volume at which the seller's total revenue from sales equals total costs(va

Front 10

price skimming

Back 10

setting an initially high price to cover new product cost and generate a profit

Front 11

penetration pricing

Back 11

setting an initially low price to establish a new product in the market

Front 12

price lining

Back 12

setting a limited number of prices for certain categories of products

Front 13

psychological pricing

Back 13

pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices

Front 14

odd-even pricing

Back 14

psychological pricing tactic based on the premise tht consumers prefer prices not stated in even dollar amounts

Front 15

discount

Back 15

price reduction offered as an incentive to purchase

Front 16

distribution mix

Back 16

the combination of distribution channels by which a firm gets its products to end users

Front 17

intermediary

Back 17

individual or firm that helps to distribute a product

Front 18

wholesaler

Back 18

intermediary who sells products to other businesses for resale to final consumers

Front 19

retailer

Back 19

intermediary who sells products directly to consumers

Front 20

distribution channel

Back 20

network of interdependent companies through which a product passes from producer to end user

Front 21

direct channel

Back 21

distribution channel in which a product travels from producer to consumer without intermediaries

Front 22

sales agen

Back 22

independent intermediary who generally deals in the related product lines of a few producers and forms long-term relationships to represent those producers and meet the needs of steady customers

Front 23

broker

Back 23

independent intermediary who matches numerous sellers and buyers as needed,often without knowing in advance who they are

Front 24

department store

Back 24

large product-line retailer charachterized by organizaiton into specialized departments

Front 25

supermarket

Back 25

large product-line retailer offering a variety of food and food-related items in specialized departments

Front 26

specialty store

Back 26

retail store carrying one product line or category or related products

Front 27

bargain retailer

Back 27

retailer carrying a wide range of products at bargain prices

Front 28

discount house

Back 28

bargain retailer that generates large sales volume by offering goods at substantial price reductions

Front 29

catalog showroom

Back 29

bargain retailer in which customers place orders for catalog items to be picked up at on-premises warehouses

Front 30

factory outlet

Back 30

bargain retailer owned by the manufacturer whose product it sells

Front 31

wholesale club

Back 31

bargain retailer offering large discounts on brand-namemerchandise to customers who have paid annual membership fees

Front 32

convenience store

Back 32

retail store offering easy accessibility extended hours, and fast service

Front 33

direct-response retailing

Back 33

form of nonstore retailing by direct interaction with customers to inform them of products and to receive sales orders

Front 34

telemarketing

Back 34

form of nonstore retailing in which the telephone is used to sell directly to consumers

Front 35

direct selling

Back 35

form of nonstore retailing typified by door-to-door sales

Front 36

e-intermediary

Back 36

internet distribution channel member that assist in delivering products to customers or that collects information about various sellers to be presented to consumers

Front 37

syndicated selling

Back 37

e-commerce practice whereby a Web site offers other Web sites commissions for referring customers

Front 38

shopping agent(e-agent)

Back 38

e-intermediary (middleman)in the internet distribution channel that assist users in finding products and prices but that does not take possession of products

Front 39

electronic retailing

Back 39

nonstore retailing in which information about the seller's products and services is connected to consumers computers,allowing consmmers to receive the informaiton and purchase the product in the home

Front 40

e-catalog

Back 40

nonstore retailing in which the internet is sed to display products

Front 41

electronic storefront

Back 41

commercial Web site in which customers gather informaiton about products and buying opportunities,place orders, and pay for purchases

Front 42

cybermall

Back 42

collection of viral storefronts (businesss Web sites) representing a variety of products and product lines on the internet

Front 43

video marketing

Back 43

nonstore retailing to consumers via home television

Front 44

physical disribution

Back 44

activities needed to move a product efficiently from manufacturer to consumer

Front 45

warehousing

Back 45

physical distribution operation concerned with the storage of goods

Front 46

private warehouse

Back 46

warehouse owned by and providing storage for a single company

Front 47

public warehouse

Back 47

independently owned and operated warehouse that stors goods for many firms

Front 48

order fulfillment

Back 48

all activities involved in completing a sales transaction, beginning with making the sale and ending with on-time delivery to the customer

Front 49

promotion

Back 49

aspect of the marketing mix concerned with the most effective techniques for communicating information about and selling a product

Front 50

positioning

Back 50

process of establishing an identifiable product image in the minds of consumers

Front 51

promotional mix

Back 51

combination of tools used to promote a product

Front 52

advertising

Back 52

promotional tool consisting of paid,nonpersonal communication used by an identified sponsor to inform an audience about a product

Front 53

advertising media

Back 53

variety of communication devises for carrying a seller's message to potential customers

Front 54

media mix

Back 54

combination of advertising media chosen to carry a message about a product

Front 55

personal selling

Back 55

promotional tool in which a salesperson communicates one-on-one with potential customers

Front 56

order processing

Back 56

personal selling task in which salespeople receive orders and see to their handling and delivery

Front 57

creative selling

Back 57

personal selling task in which sales people promote their firms and products rather than try to close sales

Front 58

missionary selling

Back 58

personal selling task in which salespeople promote their firms and products rather than try to close sales

Front 59

sales promoiton

Back 59

short-term promotional activity designed to encourage consumer buying,industrial sales, or cooperation from distributors

Front 60

coupon

Back 60

sales promotion technique inchich a certificate is issued entitleing the buyer to a reduced price

Front 61

premium

Back 61

sales promotion technique in chich offers of free or reduced-price items are used to stimulate purchases

Front 62

point-ofsale(pos)display

Back 62

sales promotion tehnique in which product displays are located in certain areas to stimulate purchase or to provide information on a product

Front 63

trade show

Back 63

sales promotion technique in chich various members of an industry gather to display,demonstrate, and sell products

Front 64

publicity

Back 64

promotional tool in which informaiton about a company,a product,or an event is transmitted by the general mass media to attract public attention

Front 65

public relations

Back 65

company-influenced information directed at building goodwill with the public or dealing with unfavorable events