Marketing Study Cards Exam 3

Front 1

—stores that specialize in certain lines of related products rather than a wide assortment.

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single-line or limited-line stores

Front 2

This concept states that retailers should offer low prices to get faster turnover and greater sales volumes—by appealing to larger markets.

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mass-merchandising concept

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Are larger stores that are organized into many separate departments and offer many product lines.

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department stores

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—large stores specializing in groceries with self-service and wide assortments.

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supermarkets

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covers all of the activities involved in the sale of products to final consumers.

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retailing

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is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior.

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Promotion

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is any paid form of nonpersonal (promotional) presentation of ideas, goods, or services by an identified sponsor.

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Advertising

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AIDA Model

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(1) to get Attention

(2) to hold Interest

(3) to arouse Desire

(4) to obtain Action

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the source deciding what it wants to say and translating it into words or symbols that will have the same meaning to the receiver.

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Encoding

Front 10

means getting customers to ask intermediaries for the product.

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pull strategy

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This strategy uses normal promotion effort—personal selling, advertising, and sales promotion—to help sell the whole marketing mix to possible channel members.

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push strategy

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these individuals sell to regular customers, complete sales transactions and maintaining relationships. They need to be highly trained, competent individuals.

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order takers

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the routine completion of sales made regularly to target customers. These activities can make the difference between keeping and losing a customer.

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order-taking

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supporting salespeople who work for producers by calling on their intermediaries and customers.

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missionary sales people

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This is a method basing the budget on the job to be done.

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task method

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is the transporting, storing, and handling of goods in ways that match target customers’ needs with a firm’s marketing mix—both within individual firms and along a channel of distribution.

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logistics

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—how rapidly and dependably a firm can deliver what they, the customers, want.

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customer service level

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says that all transporting, storing, and product handling activities of a business and a whole channel system should be coordinated as one system that seeks to minimize the cost of distribution for a given customer service level.

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physical distrubution (PD)

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—the complete set of firms and facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to customers.

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supply chain

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—an approach that puts information in a standardized format easily shared between different computer systems.

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electronic data interchange (EDI)

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grouping individual items into an economical shipping quantity and sealing them in protective containers for transit to the final destination.

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contanerization

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means loading truck trailers—or flatbed trailers carrying containers— on railcars to provide both speed and flexibility.

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piggyback service

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is the amount of goods being stored.

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inventory

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—an approach that puts information in a standardized format easily shared between different computer systems.

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electronic data interchange (EDI)

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—a type of conventional limited-line store—is usually small and has a distinct “personality.”

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specialty shop

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This concept says that retailers should offer low prices to get faster turnover and greater sales volumes—by appealing to larger markets.

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mass merchandising concept

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are large self-service stores with many departments that emphasize “soft goods” (housewares, clothing, and fabrics) and staples (like health and beauty aids) but still follow the discount house’s emphasis on lower margins to get faster turnover.

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mass merchandisers

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This suggests that new types of retailers enter the market as low status, low-margin, low-price operators and then, if successful, evolve into more conventional retailers offering more services with higher operating costs and higher prices.

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wheel of retailing theory

Front 29

is concerned with the activities of those persons or establishments that sell to retailers and other merchants, or to industrial, institutional, and commercial users, but that do not sell in large amounts to final consumers.

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wholesaling

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own the products they sell. They often specialize by certain types of products or customers.

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merchant wholesalers

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sells similar products for several noncompeting producers—for a commission on what is actually sold.

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manufacturer agent

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is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior.

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promotion

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involves direct spoken communication between sellers and potential customers.

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personal selling

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refers to promotion activities—other than advertising, publicity, and personal selling—that stimulate interest, trial, or purchase by final customers or others in the channel.

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sales promotion

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any distraction that reduces the effectiveness of the communication process.

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noise

Front 36

basing the budget on the job to be done. It helps a marketing manager to set priorities so that the money spent on promotion produces specific and desired results.

Back 36

task method

Front 37

are order-getting, order-taking, and supporting.

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basic sales tasks

Front 38

are concerned with establishing relationships with new customers and developing new business.

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order getters

Front 39

means seeking possible buyers with a well organized sales presentation designed to sell a good, service, or idea.

Back 39

order-getting

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is a written statement of what a salesperson is expected to do.

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job description

Front 41

—the specific sales or profit objective a salesperson is expected to achieve.

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sales quota

Front 42

involves following all the leads in the target market to identify potential customers.

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prospecting

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involves developing a good understanding of the individual customer’s needs before trying to close the sale.

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consultative selling approach

Front 44

involves producers sharing in ad costs with wholesalers or retailers

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cooperative advertising

Front 45

price reductions to firms in the channel that encourage channel members to promote the product.

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advertising allowances

Front 46

tries to promote the organization’s image, reputation, or ideas.

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Institutional advertising

Front 47

tries to sell an item and can be targeted to channel members or final consumers.

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product advertising

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tries to develop primary demand for a product category rather than demand for a specific product. It informs potential customers about the new product and turn them into adopters.

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pioneering advertising

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tries to develop selective demand for a specific brand.

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Competitive advertising

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makes specific brand comparisons using actual product names.

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comparative advertising

Front 51

keeps the company’s name before the public.

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reminder advertising

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what the words and illustrations should communicate. This should be designed to achieve the promotion objectives.

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copy thrust

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specializes in planning and handling mass-media details of advertisers.

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advertising agencies

Front 54

any unpaid form of nonpersonal presentation of ideas, goods, or services.

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publicity