Marketing Final

Front 1

Push Strategy

Back 1

Product is Allocated to stores based on previous sales forcasts

Front 2

Advertising Plan

Back 2

A section of the firm's overall marketing plan that explicitly outlines the objectives of the advertising campaign, how the campaign might accomplish these objections, and how the campaign can accomplish these goals

Front 3

Informational Appeal

Back 3

Helps consumers make purchasing decisions by offering factual information that encourages the customer to evaluate the brand favorably on the basis of the key benefits it provides

Front 4

Pulsing Advertising schedule

Back 4

Combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods. For example, airlines, hotels, and car rental companies might continuously advertise to ensure brand awareness but might increase the advertising in spikes during certain low demand periods.

Front 5

Puffery

Front 6

Loyalty Program

Back 6

Specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.

Front 7

Selective Distribution

Back 7

relies on a few selected retail customers in a territory to sell products. helps a seller maintain a particular image and control the flow of merchandise into an area.

Front 8

Alpha Testing

Back 8

The firm attempts to determine whether the product will perform according to its design and whether it satisfies the need for which it was intended.55 Rather than use potential consumers, alpha tests occur in the firm’s R&D department.

Front 9

Beta Testing

Back 9

Uses potential consumers, who examine the product prototype in a real-use setting to determine its functionality, performance, potential problems, and other issues specific to its use.

Front 10

Introduction Stage

Back 10

Stage of the product life cycle when innovators start buying the product.

Front 11

Break Even Point

Back 11

The point at which the number of units sold generates just enough revenue to equal the total costs.

Front 12

Grey Market

Back 12

Employs irregular but not necessarily illegal methods; generally, it legally circumvents authorized channels of distribution to sell goods at prices lower than those intended by the manufacturer.

Front 13

Experience Curve

Back 13

Refers to the drop in unit cost as the accumulated volume sold increases; as sales continue to grow, the costs continue to drop, allowing even further reductions in the price.

Front 14

Price Fixing

Back 14

Companies at the same level (eg. amazon, apple with books) or separate levels (Garmin with retailers) agree to control a price.

Front 15

Marketing Channel Or Supply Channel

Back 15

A set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless operation in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize systemwide costs while satisfying the service levels their customers require.

Front 16

Direct Marketing

Back 16

The manufacturer sells directly to the buyer.

Front 17

Indirect Marketing

Back 17

When one or more intermediaries work with manufacturers to provide goods and services to customers.

Front 18

Horizontal Channel Conflict

Back 18

A type of channel conflict in which members at the same level of a marketing channel, for example, two competing retailers or two competing manufacturers, are in disagreement or discord, such as when they are in a price war.

Front 19

Franchising

Back 19

is a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor.

Front 20

Advanced Shipping Notice

Back 20

An 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 21

Electronic Data Interchange

Back 21

The computer-to-computer exchange of business documents from a retailer to a vendor and back.

Front 22

Lead User

Back 22

Those innovative product users who modify existing products according to their own ideas to suit their specific needs.Grewal (2014-02-20). M: Marketing (Page 268). McGraw-Hill/Irwin. Kindle Edition.

Front 23

Internet on PR

Back 23

The internet can contain the entire PR toolkit and enable a faster and highly effective PR compaign

Front 24

Successful Cross Promotion

Back 24

Two products must appeal to the same target market and together create value for consumers. J. Crew has teamed up with several famous brands, including Belstaff, Levi’s, Barbour, Timex, and Sperry Top-Sider, to offer exclusive products in the J. Crew stores and website.

Front 25

Internet Channel Benefits

Back 25

First, the addition of an Internet channel has the potential to offer a greater selection of products. Second, an Internet channel enables retailers to provide customers with more personalized information about products and services. Third, it offers sellers the unique opportunity to collect information about consumer shopping behavior—information that they can use to improve the shopping experience across all channels. Fourth, the Internet channel allows sellers to enter new markets economically.

Front 26

Internet personalized offerings

Back 26

personalize their offerings for each of their customers, based on customers’ behavior. Just as a well-trained salesperson would make recommendations to customers prior to checkout, an interactive webpage can make suggestions to the shopper about items that he or she might like to see based on previous purchases, what other customers who purchased the same item purchased, or common web viewing behavior.

Front 27

Advantages of Retail Store

Back 27

Browsing, Touching and Feeling, personal Service, Cash and Credit Payment, Entertainment and Social Experience, and Immediate Gratification.

Front 28

Types of Pricing Promotion

Back 28

EDLP (Every Day Low Pricing): companies stress the continuity of their retail prices at a level somewhere between the regular, nonsale price and the deep-discount sale prices their competitors may offer.

High/Low Pricing: prices are temporarily reduced to encourage purchases. A high/low strategy is attractive because it attracts two distinct market segments: those who are not price sensitive and are willing to pay the high price and more price-sensitive customers who wait for the low sale price.

Front 29

Benefits of a Convenience Store

Back 29

Enable consumers to make purchases quickly without having to search through a large store and wait in a lengthy checkout line.

Front 30

Pioneer or Break through product advantages

Back 30

As the first to create the market or product category, they become readily recognizable to consumers and thus establish a commanding and early market share lead. Studies also have found that market pioneers can command a greater market share over a longer time period than later entrants can.

Front 31

Fashion Trends Life Cycle

Back 31

Short

Front 32

Limitations of Internal R & D

Back 32

Cost is High

Front 33

Odd Pricing

Back 33

Some consumers may perceive higher value because of the low price (especially if quality is less important to them than price), whereas others may infer lower value on the basis of the low-quality image the odd price suggests (especially if price is less important to them than quality).

Front 34

elasticity of demand

Back 34

measures how changes in a price affect the quantity of the product demanded. Specifically, it is the ratio of the percentage change in quantity demanded to the percentage change in price.Grewal (2014-02-20). M: Marketing (Page 311). McGraw-Hill/Irwin. Kindle Edition.

Front 35

Experience Curve

Back 35

Refers to the drop in unit cost as the accumulated volume sold increases; as sales continue to grow, the costs continue to drop, allowing even further reductions in the price.Grewal (2014-02-20). M: Marketing (Page 321). McGraw-Hill/Irwin. Kindle Edition.

Front 36

wholesalers in channel

Back 36

The retailer stores the stove until the customer wants it, educates the customer about product features, and delivers and installs the stove.Grewal (2014-02-20). M: Marketing (Page 331). McGraw-Hill/Irwin. Kindle Edition.