Marketing Final

Front 1

direct marketing channels

Back 1

connections with targeted individuals to both obtain an immediate response and cultivate lasting customer relationships-- mail, telephone, email, internet

Front 2

indirect marketing channels

Back 2

channel containing one or more intermediary levels--wholesalers, distributers, rackjobbers

Front 3

horizontal channels and conflicts

Back 3

two or more companies at one level follow a new marketing opportunity--conflicts: problems among firms at the same channel

Front 4

vertical channels and conflicts

Back 4

producers, wholesalers, and retailers act as a unified system--conflicts: problems between different channel levels

Front 5

corporate VMS

Back 5

production and distribution under single ownership

Front 6

contractual VMS

Back 6

strong contractual agreements among channel members to reduce conflicts and improve coordination

Front 7

administered VMS

Back 7

leadership of channel is assumed through the size and power of one of its channel members

Front 8

channel design decisions

Back 8

1.) analyze the consumer needs
2.) set channel objectives
3.) identify major alternatives at your disposal

Front 9

intermediaries

Back 9

manufacturing is sent to wholesalers, dealers/distributers, rackjobbers, etc. instead of straight to the supermarket

Front 10

disintermediaries

Back 10

going directly to the final buyer

Front 11

JIT (just in time logistics system)

Back 11

producers/retailers only carry small inventories and new stock arrives exactly when needed--require accurate forecasting but results in savings in inventory/handling costs

Front 12

rackjobbers

Back 12

send delivery trucks to stores, set up the products (mostly nonfood), price them, keep them fresh, keep inventory records

Front 13

brick and mortar

Back 13

retail shops with permanent physical locations.

Front 14

click and mortar

Back 14

brick and mortar companies that have ventured to become online companies

Front 15

eTailing

Back 15

sells products and services directly to final buyers (amazon.com, expedia.com)

Front 16

advertising pros

Back 16

large scale reach

Front 17

advertising cons

Back 17

expensive, 1 way communication with customers

Front 18

sales promotion pros

Back 18

coupons, contests

Front 19

sales promotion cons

Back 19

short lived

Front 20

PR pros

Back 20

more believable than ads

Front 21

PR cons

Back 21

impact not well understood by markets

Front 22

personal selling pros

Back 22

most effective tool, personal relationship with customer

Front 23

personal selling cons

Back 23

most expensive, requires committment

Front 24

direct marketing pros

Back 24

phone, online, quick

Front 25

direct marketing cons

Back 25

not as exciting, "shot gun" approach

Front 26

pull strategy

Back 26

spending a lot on advertising and consumer promotion to induce consumers to buy the product

Front 27

push strategy

Back 27

producer promotes the product to channel members who in turn promote it to final customers

Front 28

sales promotion

Back 28

short term incentives to encourage the purchase of a product/service

Front 29

trade promotions

Back 29

used to persuade resellers to carry a brand, give it shelf space, and promote it

Front 30

consumer promotions

Back 30

used to boost short-term consumer buying and involvement or to enhance customer relationships

Front 31

PR

Back 31

building good relations with the company's publics by obtaining good publicity, building good corporate image, and heading off unfavorable rumors

Front 32

3 main objectives of advertising

Back 32

task, target, time

Front 33

advertising reach

Back 33

% of people in the target market exposed to the ad campaign

Front 34

advertising frequency

Back 34

how many times an individual/household is exposed to the ad

Front 35

advertising impact

Back 35

qualitative assessment of the value of a message being put forth in the ad

Front 36

advertising memorability

Back 36

quantitative assessment of 1.) how much is remembered and 2.) for how long

Front 37

territorial sales force structure

Back 37

each sales person assigned to exclusive geographic area, each sales rep builds a personal relationship w/customers

Front 38

product structure sales force

Back 38

each product has own line/separate sales force, better product knowledge occurs but can be confusing to a customer if multiple reps from same company are calling on them

Front 39

customer sales force structure

Back 39

sales people assigned to specific, key customers, get to know customer's needs inside and out

Front 40

7 steps of the sale

Back 40

1.) prospecting and qualifying
2.) pre-approach
3.) approach
4.) presentation and demonstration
5.) handling objections
6.) closing
7.) follow-up

Front 41

IMC

Back 41

process for managing the customer relationships that drive brand value to deliver a clear message about organizations and its brands--if you don't have an IMC, will result in confused company images

Front 42

3 environments that must be analyzed when going global

Back 42

economic, political-legal, cultural

Front 43

5 decisions to be made when going global

Back 43

1.) does it make sense?
2.) which markets to enter?
3.) how to enter the markets
4.) deciding on the global marketing program
5.) deciding on the global marketing organization

Front 44

standardized global marketing approach

Back 44

-use the same marketing mix
-big cost savings-global brand image

Front 45

adapted global marketing approach

Back 45

-adapt marketing mix to each market
-expensive but can be more succsessful