Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/57

Click to flip

57 Cards in this Set

  • Front
  • Back
RETAIL
All the activities involved in renting, selling things to an ultimate consumer.
CONSUMER UTILTIES
form
place
time
possession
UTILITY
benefit you get as a consumer
form
ex. someone making wheat into bread
place
making a good available where consumers are
time
having goods available when you want them
possession
making it easy to purchase
classifying retail
mom and pop
corporate chains
contractual agreements
level of service
self serve
limited service
full service
department stores
general merchandising
specialty merchandising-- more focused with boutiques
convenience stores
started as truck stops
tried to add in female customers
more competitive pricing
grocery store
most shopped
slow growth
population areas slowed
6 elements of communication
source
encode
message
channel of communications
receiver
decode
promotional elements
advertising
direct marketing
personal selling
public relations
sales promotions
Advertising
MASS marketing
adv--wide coverage
dis--wasted coverage
Direct marketing
customized marketing
adv--speific for customer
dis-- inconsistant
personal selling
customized
adv--credibility
dis uncontrollable
public relations
mass marketing
adv--target your promotion
dis short term increase
sales promotions
mass marketing
adv--immediate sales
dis-- poor image
product characteristics
complexity
risk
ancillary
complexity
amount of understanding required to use
uses more personal selling
risk
risk of the product, more the risk more personal selling is needed
ancillary
degree of service after the sale
budget
historical
affordable
competitive parity
objective
historical
what they did last year
affordable
what can you afford
competitive parity
equal with competitors
objective
figuring out what you need to buy
3 things to accomplish with direct marketing
direct sales
generate leads
generate traffic
advertising
any paid form of nonpersonal communication about an organization, a good, a service, or an idea by an identified source.
product advertising
inform
persuade
reminder
institutional advertising
advocacy
competitive
reminder
advertise objectives
urge use
intro new product
stop sells decline
develop brand loyalty
reposition product in peoples mind
likeability
advertising budget
% of sales
historical
artbitrary
task objective
task objective
doing budgeting backwards
unique selling
tell you something unique
comparative advertising
compare your products to others demostrations
reason why
tell person reason why they should buy benefit
awareness
product placement
product placement
adv-- people see product

dis--no selling message
intro new product
sampling
point of purchase
sampling
adv-- best for trying
dis -- high cost
point of purchase
adv- easily seen
dis-- cost
increase sales
coupon
rebate
contests
sweepstakes
price off deals
coupon
adv -- increase sales

dis-- people delay buying the product b/c they wait for coupon
rebates
adv-- stops decline in dropping sales

dis-- product is perceived low value
contest
adv- increase sales

dis-- difficult to develop
sweepstakes
adv-increase sales

dis-won by non-product buyers
price off deals
adv- increase sales

dis-sales decline after deal is over
continue sales
premiums
continunity/loyalty/frequency
premiums
cigarette "miles"
3 major types of coupons
bounce back
tearoff
cross ruff
bounce back
on product to use another time
tear off coupon
on package or near package you can use then and there
cross ruff
on a certain product for another product
self liquidating
company buys a product for $15 that is normally in the stores for $30. tell customers they can get this $30 product for $15 if they buy X amount of their products
public relations
nonpaid or indirectly paid activities to make you aware of the products