Marketing Final

Front 1

retailing

Back 1

all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.

Front 2

wheel of retailing concept

Back 2

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.

Front 3

wholesaling

Back 3

includes all activities involved in selling goods and services to those buying for resale or business use.

Front 4

merchant wholesalers

Back 4

independently owned business that takes title to the merchandise it handles. largest single group of wholesalers, about 50%.

Front 5

broker

Back 5

wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation.

Front 6

promotion mix

Back 6

advertising, sales promotion, public relations, personal selling, direct marketing

Front 7

Integrated Marketing Communications (IMC)

Back 7

the company carefully integrates adn coordinates its many communications channels to deliver a clear, consistent and compelling message about the organization and its brands.

Front 8

personal selling

Back 8

interaction between two or more people.

Front 9

Push strategy

Back 9

pushing the porduct through distribution channels to final consumers.

Front 10

Pull strategy

Back 10

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.

Front 11

Major Sales Promotion Tools

Back 11

consumer, trade and business

Front 12

consumer promotion tools

Back 12

samples, coupons, rebates, price packs, premiums, advertising specialties, patronage rewards, point of purchase promotions, contests/sweepstakes.

Front 13

trade promotion tools

Back 13

persuade resellers to carry a brand, shift shelf space, promote advertising, etc.

Front 14

business promotion tools

Back 14

include others plus conventions and trade shows

Front 15

public relations

Back 15

building good relations with the company's various publics by obtaining favorable publicity, good corp. image, handling bad rumors

Front 16

seller names

Back 16

account executive, agent, district managers, marketing rep, account development reps.

Front 17

sales force management

Back 17

analysis, planning, implementing, and control of sales force actvities.

Front 18

product sales force structure

Back 18

a salesperson specializes in seling only a portion of the company's products or lines.

Front 19

customer sales force structure

Back 19

salesperson specializes in selling only to certain customers or industries.

Front 20

team selling

Back 20

to service large, complex accounts. with acct. fin. mkt. enginr. upper mgmt. all together.

Front 21

pitfalls to team selling

Back 21

overwhelm customers, trouble working together, trouble evaluating individual contributions.

Front 22

4 talents of good salesperson

Back 22

intrinsic motivation, discipline work ethic, ability to close sale, build relationship, empathy, desire to dominate.

Front 23

goals of training program:

Back 23

know and ID the company, companys products, competitors characteristics, effective presentations, field procedures and responsibilities.

Front 24

organizational climate

Back 24

feeling that salespeople ahve about their opportunities, value, adn rewards for good performance.

Front 25

prospecting

Back 25

salesperson identifies qualified potential customers.

Front 26

preapproach

Back 26

salesperson learns all they can about a prospective customer before making a sales call.

Front 27

approach

Back 27

meet and greet the potential buyer, start good relationship.

Front 28

presentation

Back 28

tells product "story" to buyer, highlighing customer benefits.

Front 29

handling objections

Back 29

seek out, clarify, and overcome customer objections to buying.

Front 30

direct marketing

Back 30

direct connections with carefully targeted individual consumers to obtain an immediate response and cultivate lasting cuntomer relationships.

Front 31

customer database

Back 31

orgainized collection of data about individual consumers or prospects inc: geog, demographic, psycho, behavior data.

Front 32

kiosk marketing

Back 32

place information and ordering machines in stores, airports...

Front 33

HP w/ kiosk machine (TQ)

Back 33

Ink worked, Designing greting cards didnt work.

Front 34

integrated direct marketing

Back 34

using carefully coordinated multiple-media, multiple-stage campaigns. Ex: adding direct mail and web site and outbound telemarketing to increase sales

Front 35

intranet (TQ)

Back 35

networkt that connects people within a company to eachother and to the company network

Front 36

extranet (TQ)

Back 36

network that connects a company with its suppliers and distributors.

Front 37

internet (TQ)

Back 37

vast public web of computer networks that ocnnects users of all types all around the world, "information repository"

Front 38

customerization

Back 38

leaving it to individual customers to design the marketing offering.

Front 39

E-Business

Back 39

use of electronic platforms to conduct company business

Front 40

E-Commerse

Back 40

buying and selling processes supported by electronic means, primarily the internet.

Front 41

E-Marketing

Back 41

company efforts to communicate about, promote and sell products and services over the internet.

Front 42

open trading exchanges

Back 42

huge e-marketspaces in which buyers and sellers find each other online, share info and complete transactions efficiently.

Front 43

private trading networks

Back 43

B2B trading networks that link a particular seller with its own trading partners.

Front 44

Seven C's of Web site design

Back 44

Context, Content, Community, Customization, Communication, Connection, Commerce.

Front 45

viral marketing

Back 45

internet version of word of mouth marketing, infections (good) messages that people want to send to others.

Front 46

global firm

Back 46

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.

Front 47

embargo

Back 47

ban on the import of a certain product

Front 48

GATT

Back 48

General Agreement on Tariffs and Trade

Front 49

World Trade Organization (WTO)

Back 49

Inforces the rules of the GATT.

Front 50

economic communities

Back 50

"free trade zones", a group of nations organized to work toward common goals in the regulation of international trade. EX: European Union.

Front 51

joint venturing

Back 51

joining with foreign companies to produce or market products or services.

Front 52

licensing

Back 52

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.

Front 53

whole channel view

Back 53

designing international channels that take into account all the necessary links in distributing the sellers products to final buyers.

Front 54

consumerism

Back 54

organized movement of citizens and govt agencies to improve the rights and power of buyers in relation to sellers.

Front 55

environmentalism

Back 55

organized movement of concerned citizens, businesses, govt agencies to protect and imporve people
s living environment.

Front 56

environmental sustainability

Back 56

developing strategies that both sustain the environment and produce profits for company. (green buildings).

Front 57

enlightened marketing

Back 57

holds that a company's marketing should support the best long run performance of hte marketing system.

Front 58

societal marketing

Back 58

make marketing decisions by considering consumers' wants and interests, the companys requirements, and societys long run interests.

Front 59

deficient products (TQ)

Back 59

bad tasting and ineffective medicine, have neither immediate appeal or long run benefits.

Front 60

pleasing products (TQ)

Back 60

high immediate satisfaction by may hurt consumers in the long run. ex: cigarettes.

Front 61

Salutary products (TQ)

Back 61

low appeal but may benefit consumers in the long run. ex: seat belts, air bags.

Front 62

desirable products (TQ)

Back 62

both immediate satisfaction and high long run benefits. ex: tasty and nutritious breakfast food.