Marketing Final

Front 1

5 C's of Price

Back 1

Cost
Channel Member
Customers
Company Objective
Competitors

Front 2

variable cost+fixed cost=

Back 2

total cost

Front 3

Pricing strategies

Back 3

cost based
competitor based
value-based

Front 4

supply chain management

Back 4

set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stored and transportation intermediaries

Front 5

Wholesalers

Back 5

firms that buy products from manufacturers and resell them to retailers and retailers sell products directly to consumers

Front 6

marketing channel

Back 6

set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption

Front 7

logistics management

Back 7

the integration of two or more activities for the purpose of planning, implementing and controlling the efficient flow of raw materials, in-process inventory and finished goods from the point of origin to the point of consumption

Front 8

distribution center

Back 8

facility for the receipt, storage, and redistribution for goods to company stores or customers, may be operated by retailers, manufacturers, or distribution specialists

Front 9

Universal Product Code (UPC)

Back 9

tag on back of merchandise that contains 13-digit code that indicates the manufacturer of the item, a description of the item, information about special packaging, and special promotions

Front 10

Advanced Shipping Notice (ASN)

Back 10

electronic document that the supplier sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment

Front 11

Pull supply chain

Back 11

supply chain in which orders for merchandise are generated at the store level on the basis of sales data captured by POS terminals

Front 12

Push supply chain

Back 12

merchandise is allocated to stores on the basis of forecasted demand. Once forecast is developed, specified quantities of merchandise are shipped (pushed) to distribution centers and stores at predetermined time intervals

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Dispatcher

Back 13

the person who coodinates deliveries to the distribution center

Front 14

Radio frequency indetification (RFID) tags

Back 14

tiny computer chips that automatcially transmit to a special scanner all the information about a containers contents or individual products

Front 15

cross-docked

Back 15

prepackaged by the vendor for a specific store

Front 16

vertical marketing systems

Back 16

unified system of 3 parts: manufacturers, wholesalers, and retailers

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strategic or partnering relationship

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supply chain member are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial

Front 18

Factors for establishing relationship with retailers

Back 18

choosing retail partners
identifying types of retailers
facilitating retail strategy
managing multichannel strategy

Front 19

distribution intensity

Back 19

number of channel member to use at each level of the marketing channel

Front 20

intensive distribution

Back 20

designed to get prodcuts into as many outlets as possible

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exclusive distribution

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policy by granting exclusive geographic territories to one or very few retail customers so no other customers in the territory can sell a particular brand

Front 22

selective distribution

Back 22

uses a few selected customers in a territory

Front 23

conventional supermarket

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self-service food store offering groveries, meat, and produce with limited sales of nonfood items, such as health and beauty aids and general merchandise

Front 24

limited assortment supermarkets or extreme value food retailers

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limited assortment of brands, one being their store brand (Save-a-lot)

Front 25

Supercenters

Back 25

fastest growing retail category, large stores that combine supermarket with a full-line discount store (Wal-Mart)

Front 26

Warehouse Clubs

Back 26

large retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumer and small businesses (Sam's Club)

Front 27

Convenience Stores

Back 27

provide limited variety and assortment of merchandise at a convenient location with speedy checkout

Front 28

Department Stores

Back 28

retailers that carry a broad variety and deep assortment, offer customer services, and organize their stores into distinct departments for displaying merchandise

Front 29

Full-line discount stores

Back 29

retailers that offer a braod variety of merchandise, limited service, and low prices (Wal-Mart, Target)

Front 30

Specialty Stores

Back 30

limited number of complementary merchandise categories and provide a high level of service in relatively small stores (MAC stores)

Front 31

Drugstores

Back 31

specialty stores that concentrate on pharmaceutical and health and personal grooming merchandise

Front 32

Category Specialists/Category Killers

Back 32

discount stores that offer a narrow but deep assortment of merchandise

Front 33

Extreme Value retailers

Back 33

small, full-line discount stores that offer a limited merchandise assortment at ver low prices (Family Dollar Store)

Front 34

Off-price retailers/close-out retailers

Back 34

offer an inconsistent assortment of brand name merchandise at low prices (Marshalls)

Front 35

Cooporative advertising

Back 35

an agreement to pay all or a portion of the advertisings production and media costs

Front 36

Share of wallet

Back 36

percentage of the customers purchases made from that particular retailer with their best customers

Front 37

Integrated Marketing Communication

Back 37

Promotion of 4 P's
-general advertising
-personal selling
-sales promotion
-public relations
-direct marketing
-electronic media
-community building

Front 38

Brand awareness

Back 38

potential customers ability to recognize or recall that the brand name is particular type of retailer or product/service

Front 39

Aided recall

Back 39

when consumers indicate they know the brand when the name is presented to them

Front 40

Top-of-mind awareness

Back 40

highest level of awareness, when consumers mention a certain brand name first

Front 41

Lagged Effect

Back 41

delayed response to a marketing comm. campaign

Front 42

frequency

Back 42

measure of exposure, how often audience is exposed to comm.within specific time period

Front 43

reach

Back 43

describes percentage of target pop. exposed to specific marketing comm. at least once

Front 44

reach x frequency=

Back 44

GRPs

Front 45

AIDA Model

Back 45

Attention
Interest
Desire
Action

Front 46

Permission Marketing

Back 46

you go to website so they are allowed to market to you
word of mouth

Front 47

Interruption marketing

Back 47

Commercials

Front 48

IMC Budget

Back 48

Objective Task method
-measure
Rules of Thumb
-competitive parity
-% of sales
-affortable

Front 49

Profit Orientation

Back 49

target profit pricing
maximizing profits
target return pricing

Front 50

Sales Orientation

Back 50

set prices believe that increasing sales will help the firm more than will increasing profits

Front 51

Premium Pricing

Back 51

firm deliberately prices a product above the prices set for competing products to cature those customers who always shop for the best

Front 52

Competitor Orientation

Back 52

strategize according to the premise that they should measure themselves primarily against their competition

Front 53

Customer Orientation

Back 53

explicitly invokes the concept of value, sets prices to customers satisfaction

Front 54

Demand Curve

Back 54

show how many units of a product or service consumers will demand during specific period of time at different prices

Front 55

Price elasticity of Demand

Back 55

% change in quanitity demanded
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% change in price

Front 56

Cost-based pricing method

Back 56

determine final price to charge by starting with the cost, will not vary much, per-unit basis

Front 57

Competitor-Based method

Back 57

set their prices to reflect the way they want consumers to interpret their own prices relative to the competitors offereings

Front 58

Value-Based method

Back 58

approaches to setting prices that focus on the overall value of the product offering as perceived by the consumer (certain feature)

Front 59

Cost of ownership method

Back 59

(value-based method) consumers may be wililng to pay more to a particular product because it will eventually cost less to own than a cheaper alternative over entire lifetime

Front 60

Price skimming

Back 60

consumer willing to pay premium price for new product