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62 Cards in this Set

  • Front
  • Back
retailing
all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
wheel of retailing concept
states that new types of retailers usually begin as low margin, low price, but later evolve into higer priced, higher service operations, just like the conventional retailers they replaced.
wholesaling
includes all activities involved in selling goods and services to those buying for resale or business use.
merchant wholesalers
independently owned business that takes title to the merchandise it handles. largest single group of wholesalers, about 50%.
broker
wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation.
promotion mix
advertising, sales promotion, public relations, personal selling, direct marketing
Integrated Marketing Communications (IMC)
the company carefully integrates adn coordinates its many communications channels to deliver a clear, consistent and compelling message about the organization and its brands.
personal selling
interaction between two or more people.
Push strategy
pushing the porduct through distribution channels to final consumers.
Pull strategy
producer directs its marketing activities toward final consumers to induce them to buy the product. Consumers will demand the product from channel members who demand from producers.
Major Sales Promotion Tools
consumer, trade and business
consumer promotion tools
samples, coupons, rebates, price packs, premiums, advertising specialties, patronage rewards, point of purchase promotions, contests/sweepstakes.
trade promotion tools
persuade resellers to carry a brand, shift shelf space, promote advertising, etc.
business promotion tools
include others plus conventions and trade shows
public relations
building good relations with the company's various publics by obtaining favorable publicity, good corp. image, handling bad rumors
seller names
account executive, agent, district managers, marketing rep, account development reps.
sales force management
analysis, planning, implementing, and control of sales force actvities.
product sales force structure
a salesperson specializes in seling only a portion of the company's products or lines.
customer sales force structure
salesperson specializes in selling only to certain customers or industries.
team selling
to service large, complex accounts. with acct. fin. mkt. enginr. upper mgmt. all together.
pitfalls to team selling
overwhelm customers, trouble working together, trouble evaluating individual contributions.
4 talents of good salesperson
intrinsic motivation, discipline work ethic, ability to close sale, build relationship, empathy, desire to dominate.
goals of training program:
know and ID the company, companys products, competitors characteristics, effective presentations, field procedures and responsibilities.
organizational climate
feeling that salespeople ahve about their opportunities, value, adn rewards for good performance.
prospecting
salesperson identifies qualified potential customers.
preapproach
salesperson learns all they can about a prospective customer before making a sales call.
approach
meet and greet the potential buyer, start good relationship.
presentation
tells product "story" to buyer, highlighing customer benefits.
handling objections
seek out, clarify, and overcome customer objections to buying.
direct marketing
direct connections with carefully targeted individual consumers to obtain an immediate response and cultivate lasting cuntomer relationships.
customer database
orgainized collection of data about individual consumers or prospects inc: geog, demographic, psycho, behavior data.
kiosk marketing
place information and ordering machines in stores, airports...
HP w/ kiosk machine (TQ)
Ink worked, Designing greting cards didnt work.
integrated direct marketing
using carefully coordinated multiple-media, multiple-stage campaigns. Ex: adding direct mail and web site and outbound telemarketing to increase sales
intranet (TQ)
networkt that connects people within a company to eachother and to the company network
extranet (TQ)
network that connects a company with its suppliers and distributors.
internet (TQ)
vast public web of computer networks that ocnnects users of all types all around the world, "information repository"
customerization
leaving it to individual customers to design the marketing offering.
E-Business
use of electronic platforms to conduct company business
E-Commerse
buying and selling processes supported by electronic means, primarily the internet.
E-Marketing
company efforts to communicate about, promote and sell products and services over the internet.
open trading exchanges
huge e-marketspaces in which buyers and sellers find each other online, share info and complete transactions efficiently.
private trading networks
B2B trading networks that link a particular seller with its own trading partners.
Seven C's of Web site design
Context, Content, Community, Customization, Communication, Connection, Commerce.
viral marketing
internet version of word of mouth marketing, infections (good) messages that people want to send to others.
global firm
by operating in more than one country gains r&d, marketing, production and financial adv. in its costs and reputation that you cannot get in domestic competitors.
embargo
ban on the import of a certain product
GATT
General Agreement on Tariffs and Trade
World Trade Organization (WTO)
Inforces the rules of the GATT.
economic communities
"free trade zones", a group of nations organized to work toward common goals in the regulation of international trade. EX: European Union.
joint venturing
joining with foreign companies to produce or market products or services.
licensing
for a fee or royalty, the licnese buys the right to use the company's manufacturing process, trademark, patent, secret or other item of value.
whole channel view
designing international channels that take into account all the necessary links in distributing the sellers products to final buyers.
consumerism
organized movement of citizens and govt agencies to improve the rights and power of buyers in relation to sellers.
environmentalism
organized movement of concerned citizens, businesses, govt agencies to protect and imporve people
s living environment.
environmental sustainability
developing strategies that both sustain the environment and produce profits for company. (green buildings).
enlightened marketing
holds that a company's marketing should support the best long run performance of hte marketing system.
societal marketing
make marketing decisions by considering consumers' wants and interests, the companys requirements, and societys long run interests.
deficient products (TQ)
bad tasting and ineffective medicine, have neither immediate appeal or long run benefits.
pleasing products (TQ)
high immediate satisfaction by may hurt consumers in the long run. ex: cigarettes.
Salutary products (TQ)
low appeal but may benefit consumers in the long run. ex: seat belts, air bags.
desirable products (TQ)
both immediate satisfaction and high long run benefits. ex: tasty and nutritious breakfast food.