Chapters 11-12

Front 1

Channels

Back 1

People and firms who connect producers of goods and services with customers.

Front 2

Manufacturer

Back 2

The entity which produces a product or service to be sold.

Front 3

Manufacturers suggested retail price

Back 3

A target price set by a manufacturer for a product or service intended to provide profit for each intermediary in the distribution channel.

Front 4

Direct Sales

Back 4

Methods of going directly to your customer in order to sell your product.

Front 5

Direct Marketing

Back 5

Selling your goods or services to consumers without intermediaries, typically with tracking of results.

Front 6

Direct Mail

Back 6

A method of selling in which catalogs, brochures, letters, videos, and other pieces of marketing materials are mailed directly to the customer.

Front 7

Mail Order

Back 7

Sales made from ads in newspapers or magazines

Front 8

Microinventory

Back 8

A set of goods or service that consists of very few items.

Front 9

Just in time inventory

Back 9

Having just enough product on your shelves to meet the immediate purchases, and relying on a steady influx of resupply.

Front 10

Telemarketing

Back 10

Contact via telephone for the express purpose of selling a product.

Front 11

Direct Response Advertising

Back 11

Placing an advertisement in a magazine or newspaper, on television or radio, or in any other media.

Front 12

Guerilla marketing

Back 12

The use of creative and relatively inexpensive ways to reach your customer. Examples include door-knob hangers, flyers under windshield wipers, t-shirts, etc.

Front 13

Multichannel marketing

Back 13

The use of several different channels to reach your customers.

Front 14

Fulfillment center

Back 14

A company that will warehouse your products and fill your customers' orders for you.

Front 15

Retailer

Back 15

A middleman business which sells to consumers or end users of a product.

Front 16

Wholesaler

Back 16

A middleman business which buys and sells to businesses rather than consumers.

Front 17

Agent

Back 17

A middleman business which represents a manufacturer's product or service to other business to business middleman firms.

Front 18

E-tailer

Back 18

An electronic retailer

Front 19

Born international

Back 19

A new firm that opens a website immediately, thus being exposed to customers from around the world.

Front 20

Direct exporting

Back 20

Exporting using no intermediaries.

Front 21

Indirect exporting

Back 21

Exporting using intermediaries, such as agents, export management companies, or export trading companies.

Front 22

Freight forwarders

Back 22

Firms specializing in arranging international shipments - packing, transportation, and paperwork.

Front 23

Letter of credit

Back 23

A document issued by a bank that guarantees a buyer's payment for a specified period of time upon compliance with specified terms.

Front 24

Documentary draft

Back 24

A draft which can be exercised only when presented with specified shipping documents.

Front 25

Contract manufacturing

Back 25

An existing firm with the correct manufacturing capabilities makes the product for you.

Front 26

Sheltered workshop

Back 26

A nonprofit organization or institution that provides business services by using handicapped or rehabilitated workers.

Front 27

Traffic generators

Back 27

Other businesses that bring customers to the area.

Front 28

Marketing Plan

Back 28

A systematic plan of all phases of marketing for a business, including information on the product, price, distribution, and promotion strategy, as well as a clear identification of the target market and competition.

Front 29

Marketing Research

Back 29

Systematic collection and interpretation of data to support future marketing decisions.

Front 30

Primary Research

Back 30

New information collected to solve a problem at hand or answer current questions.

Front 31

Secondary Research

Back 31

Information already collected for some other purpose than the current problem or questions.

Front 32

Ethographic research

Back 32

Data gathered by simple observation rather than asking them.

Front 33

Focus group

Back 33

A form of data gathering using a small group led by a moderator.

Front 34

Survey

Back 34

A data collection method using a questionnaire.

Front 35

Scalar questions

Back 35

Questions that are answered by some sort of scale.

Front 36

Dichotomous questions

Back 36

Questions with two possible answers.

Front 37

Categorical questions

Back 37

Questions that are answered by selecting the proper category.

Front 38

Open-ended questions

Back 38

Questions that allow respondents to express themselves as they choose.

Front 39

Bot

Back 39

A web based program that uses artificial intelligence techniques to automate tasks such as searches.

Front 40

Differential advantage

Back 40

The characteristic that separates one company from another in product, price, promotion and/or distribution.

Front 41

Market segmentation

Back 41

The process of diving the market into groups that have somewhat homogeneous needs for a product or service.

Front 42

Undifferentiated strategy

Back 42

A marketing strategy that uses no segmentation; assumes that all consumers have virtually identical needs and can be reached by the same marketing mix.

Front 43

Differentiated strategy

Back 43

A marketing strategy in which a marketer selects two or more distinct groups of consumers and designs specific marketing mixes to meet their needs.

Front 44

Concentrated strategy

Back 44

A marketing strategy in which a marketer selects one specific group of consumers and designs a marketing mix specifically for that group.

Front 45

Direct competition

Back 45

Other companies that make a similar product or provide a similar service.

Front 46

Indirect competition

Back 46

Companies that provide alternatives that are dissimilar to your product or service that consumers might choose to meet a similar need.