Marketing

Front 1

Laws affecting pricing

Back 1

sherman anti trust act
federal trade commision act
wheeler-lea act

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legal protections agains price discrimination

Back 2

robinson-patman act
clayton act

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price discounts for business

Back 3

seasonal, trade, quantity, cash, allowance

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6 stages for pricing

Back 4

development of pricing objectives
assesment of target markets evaluation of price
evaluation of competitors price
selection of a basis for pricing
selection of pricing strategy
determination of a specific price

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competition based pricing

Back 5

increases when products are homogenious
organization is serving markets where price is important

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supply chain

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all of the activities associated with the transformation of a product from raw materials through to the end customer

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operations managment

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total set of managerial activities used by an organization to transform resources inputs i to produts

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logistics managment

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planning implementing and controlling the efficient and effective flow and storage of products and information from point of origin to consumption

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supply managment

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purchasing, procurement, and sourcing
the process that enables the progress of value from raw material to custumer and back to redesign and final disposition

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supply chain managment issuse

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technology = seamless distribution process
improved technology=increased number of goods

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marketing channel

Back 11

distribution channel- individuals and organizations that direct the flow of produts from producers to customers within the supply chain

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dual distribution

Back 12

the use of two or more marketing channels to distribute the same product to the same target market

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strategic channel alliance

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the products of one organization are distilled through the marketing channel of another

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vertical marketing systems

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a single channel member manages channel activities to achieve efficient, low cost distribution

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horizontal channel integration

Back 15

combines organizations at the same level of operation under one managment

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hypermarkets

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supermarket and discount store

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category killers

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very large specialty stores concentrating on major product category and competing on the basis of low price and product availabillity

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strategic issues in retailing

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location
atmospherics- external and internal
positioning

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rack jobbers

Back 19

full service, specialty line wholesalers that own and maintain display racks in supermarkets, drugstores,

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objectives of promotion

Back 20

create awareness, retain loyal customers, stimulate demand, identify prospects, encourage product trial, facillitate reseller support, combat competitive promotional efforts, reduce sales fluctuations

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promotion mix elements

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personal selling, advertising,sales promotion, public relations

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steps in implementing an advertising campaign

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evaluate ads efectiveness
execute campaign
create advertisng message
develop media plan
determine ads appropriation (money for ads)
creat ad platform
define ad objectives
identify and analyze target market

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media plan

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sets the exact media vehicles to be used in campaign along with the dates and times the ad will be launched evaluates the reach and frequency

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media schedules

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continuous, flighting, pulsing

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copy

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the written or verbal portion of an ad

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layout

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the physical arrangment of an advertisments illustrations and copy

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consumer jury

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panel of existing or potential customers that judge the advertisment.

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steps in personal selling

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prospecting, pre approach, approach, making a presentation,overcoming objections, closing, follow up

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grey markets

Back 29

trade for comodity through distribution channels which while legal are unnoficial
example textbooks

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fob destination

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price of product after shipping

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product lining

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setting a limited number of prices for selected groups or lines of merchandise

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premiums

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items offered for free or at minimal cost for purchasing a product

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premium money

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extra compensation to sales persons for pushing a line of goods

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dealer loader

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a gift oftern part of a display given to a retailer purchasing a specified quantity of merchandise

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reference pricing

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pricing a product at a moderate level and displaying it next to an expensive product

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marketing intermediaries

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,middle men that llink other intermediaries or ultimate consumers through resale or wholesale

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zone pricing

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price based on transportation costs

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types of transfer pricing

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standard full cost, cost plus investment, market based cost

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pioneer advertising

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tries to stimulate demand for a product category

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institutional advertising

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promotes organizational images ideas or political issues

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reinforcment advertising

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reinforces the consumer that they made the right choice

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comparitive advertising

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compares brand with another

Front 43

reminder advertising

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used for an established brand to remind consumers about its characteristics

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advertising platform

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basic selling points of the advertsiment

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objective and task approach

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budgeting for advertising campaign by looking at objectives and the cost to meet them

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percent of sales approach

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budgeting for an ad campaign buy multiplying the firms past or expected sales by a percentage

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competition based approach

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looking at competitors budget for advertising and trying to match it

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cost comparison indicator

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means of comparing media vehicles in relation to the cost and how many people they reached

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push policy

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promoting a product to the next institution down the marketing channel

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pull policy

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promoting the product directly to the consumer

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buzz marketing

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intent to incite publicity and public entertainment surrounding a product through a creative event

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product placement

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strategic placement of a product within tv to reach target market

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coupons are a form of

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sales promotion

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cents off offer

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promotion that lets buyers pay less than the regular price to encourage purchase

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different sales promotions

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free samples, consumer contests, sweep stakes, consumer games

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pioneer demand

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promotion about a new product

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kinesic communication

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communication through the movement of physical body

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public relations

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publicity news release feature article press conference captioned photograph

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tying agreement

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supplier furnishes a product to a channel member with the stipulation that the channel member must purchase other products as well

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exclusive dealing

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manufacturer forbids intermediary to carry competitive products