Marketing - Test #3

Front 1

_____ ____ pricing - setting price based on buyer's perceptions of value rather than on seller's cost

Back 1

value based pricing

Front 2

____ ____ pricing - offering just the right combination of quality and good service at a fair price

Back 2

good value pricing

Front 3

____ ____ pricing - attaching value-added features and services to differentiate a market offering and support higher prices, rather than cutting prices to match competitors

Back 3

value-added pricing

Front 4

____ ____ pricing - setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for its effort and risk

Back 4

cost based pricing

Front 5

_____ costs - costs that don't vary w/ production or sales level

Back 5

fixed

Front 6

____ costs - costs that vary directly with the level of production

Back 6

variable

Front 7

____ costs - sum of the fixed and variable costs for any given level of production

Back 7

total

Front 8

____ ____ pricing - adding a standard markup to the cost of the product

Back 8

cost-plus

Front 9

_____ ____ pricing - setting price to break even on the costs of making and marketing a product; or setting price to make a target profit

Back 9

break-even pricing (target market pricing)

Front 10

_____ _____ pricing - pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met

Back 10

target costing

Front 11

____ ____ - curve that shows the number of units the market will buy in a given time period, at different prices that might be charged

Back 11

Demand Curve

Front 12

_____ ____ - measure of the sensitivity of demand to changes in price

Back 12

price elasticity

Front 13

New Product Pricing Strategies - _____ _____ pricing: setting a high price for a new product ot skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewr but more profitable sales

Back 13

market-skimming

Front 14

New Product Pricing Strategies
______ ____ pricing - setting a low price for a new product in order to attract a large number of buyers and a large market share

Back 14

market-penetration

Front 15

____ ____ pricing - setting prices across an entire product line

Back 15

product line pricing

Front 16

____ ____ pricing - pricing optional or accessory products sold with the main product

Back 16

optional-product pricing

Front 17

____ ____ pricing - pricing products that must be used with the main product

Back 17

captive-product pricing

Front 18

____ ____ pricing - pricing low value by products to get rid of them

Back 18

by-product pricing

Front 19

____ ____ pricing - pricing bundles of products sold together

Back 19

product bundle pricing

Front 20

______ pricing - reducing prices to reward customer responses such as paying early or promoting the product

Back 20

discount & allowance prices

Front 21

____ ____ - curve that shows the number of units the market will buy in a given time period, at different prices that might be charged

Back 21

Demand Curve

Front 22

_____ ____ - measure of the sensitivity of demand to changes in price

Back 22

price elasticity

Front 23

New Product Pricing Strategies - _____ _____ pricing: setting a high price for a new product ot skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewr but more profitable sales

Back 23

market-skimming

Front 24

New Product Pricing Strategies
______ ____ pricing - setting a low price for a new product in order to attract a large number of buyers and a large market share

Back 24

market-penetration

Front 25

____ ____ pricing - setting prices across an entire product line

Back 25

product line pricing

Front 26

____ ____ pricing - pricing optional or accessory products sold with the main product

Back 26

optional-product pricing

Front 27

____ ____ pricing - pricing products that must be used with the main product

Back 27

captive-product pricing

Front 28

____ ____ pricing - pricing low value by products to get rid of them

Back 28

by-product pricing

Front 29

____ ____ pricing - pricing bundles of products sold together

Back 29

product bundle pricing

Front 30

______ pricing - reducing prices to reward customer responses such as paying early or promoting the product

Back 30

discount & allowance prices

Front 31

______ pricing - adjusting prices to allow for differences in customers, products, or locations

Back 31

segmented pricing

Front 32

______ pricing - adjusting prices for psychological effect

Back 32

psychological pricing

Front 33

______ pricing - temporarily reducing prices to increase short run sales

Back 33

promotional

Front 34

______ pricing - adjusting prices to account for the geographic location of customers

Back 34

geographical

Front 35

______ pricing - adjusting prices continually to meet the characteristics and needs of individual customers and situations

Back 35

dynamic

Front 36

______ pricing - adjusting prices for international markets

Back 36

international

Front 37

_____ ___ ____ network made up of the company, suppliers, distributors and ultimatley customers who "partner" with each other to improve the performance of the entire system in delivering customer value

Back 37

Value Delivery Network

Front 38

_____ ______ - set of interdepent organizations that help make a product or service available for use or consumption by the consumer or business user

Back 38

Marketing channel (distribution channel)

Front 39

How channel members add value
_____ - gathering and distributing marketing research and intelligence info about actors or forces in the marketing environment needed for planning and aiding exchange

Back 39

information

Front 40

How channel members add value
_____ - developing and spreading persuasive communications about an offer

Back 40

promotion

Front 41

How channel members add value
_____ - finding and communicating w/ persuasive communications about an offer

Back 41

contact

Front 42

How channel members add value
_____ - shaping and fitting the offer to the buyer's needs, including activities such as manufacturing, grading, assembling, and packaging

Back 42

Matching

Front 43

How channel members add value
_____ - reaching an agreement on price and other terms of the offer so that ownership or possession can be transferrred

Back 43

negotiation

Front 44

How channel members add value
_____ - transporting and storing goods

Back 44

physical distribution

Front 45

How channel members add value
_____ - acquiring and using funds to cover the costs of the channel work

Back 45

financing

Front 46

How channel members add value
_____ - assuming the risks of carrying out the channel work

Back 46

risk taking

Front 47

____ _____ - layer of intermediaries that performs some work in brining the product and its ownership closer to the final buyer

Back 47

channel level

Front 48

_____ ____ channel - marketing channel that has no intermidiary levels

Back 48

direct marketing

Front 49

_____ ____ channel - channel containing one or more intermediary levels

Back 49

indirect marketing

Front 50

___ _____ - disagreement among marketing channel membes on goals and roles - who should do what and for what rewards

Back 50

channel conflict

Front 51

______ _____ channel - channel consiting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximze its own profits even at the expense of profits for the system as a whole

Back 51

conventional distribution

Front 52

_____ ______ _____ - distribution channel structure in which producers, wholesalers, and retailers act as a unified system. One channel member owns the others, has contracts w/ them, or has so much power that they all cooperate

Back 52

Vertical Marketing System

Front 53

_______ VMS - vertical marketing system that comines successive stages of production and distribution under single ownership - channel leadership is established through common ownership

Back 53

CorporateVMS

Front 54

_______ VMS - independent firms at different levels of production and distribution join together through contracts to obtain more economies or sales impact than they could achieve alone

Back 54

Contractual

Front 55

_____ ______ - contractual vertical mmarketing system in which a channel member, called franchiser, links several stages in the production-distribution process

Back 55

franchise organization

Front 56

_______ VMS - coordinates successive stages of produciton and distribution, not through common ownership or contractual ties, but through the size and power of one of the parties

Back 56

administered

Front 57

_____ _____ system - channel arragement in which two or more compaines at one level join together to follow a new marketing opportunity

Back 57

horizonal marketing

Front 58

______ _____ system - single firm sets up two or more marketing channels to reach one or more customer segments

Back 58

multichannel distribution

Front 59

_______ - cutting out of marketing channel intermediaries by product or service producers, or the displacement of traditional resellers by radical new types of intermediaries

Back 59

disintermediation

Front 60

_________ distribution - stocking the product in as many outlets as possible

Back 60

intensive

Front 61

_________ distribution - giving limited number of dealers the exclusive right ot distribute the company's products in their territories

Back 61

exclusive

Front 62

_________ distribution - the use of more than one, but fewer than all, of the intermediaries who are willing to carry the company's products

Back 62

selective

Front 63

___ ____ ______ - selecting, managing, and motivating individual channel members and evaluating their performance over time

Back 63

marketing channel management

Front 64

_____ ______ - planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit

Back 64

marketing logistics

Front 65

_____ _____ _____ - managing upstream and downstream value-added flows of materials, final goods, and related info among suppliers, the company, resllers, and final consumers

Back 65

supply chain management

Front 66

______ _______ - large, highly automated warehouse designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible

Back 66

Distribution center

Front 67

______ ________ - combining two or more modes of transportation

Back 67

intermodal transportation

Front 68

_____ ______ ______ - logistics concept that emphasizes teamwork, both inside the company and among all the marketing channel organizations, to maximize the performance of the entire distribution system

Back 68

Integrated logistics management

Front 69

____ _______ _______ - independent logistics provider that performs any or all of the functions required to get its client's product to market

Back 69

third party logistics provider

Front 70

Business whose sales come primarily from retailing

Back 70

retailer

Front 71

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

Back 71

Retailing

Front 72

Carry a narrow product line w/ a deep assortment, such as apparel stores, sporting goods stores, furniture stores, florists, and books stores. (Radio shack, tiffany)

Back 72

Specialty Store

Front 73

Carry several product lines, typically clothing, home furnishing, and household goods - with each line operated as a separate department managed by specialist buyers or merchandisers

Back 73

Department Store (Macy's, Sears)

Front 74

Relativley large, low-cost, low-margin, high-volume, self-service operation designed to serve the consumer's total needs for grocery and household products

Back 74

Supermarkets (Safeway, HyVee)

Front 75

Relativley small stores located near residential ares, open long hours 7 days a week, and carrying a limited line of high-turnover convenience products and slightyly higher prices

Back 75

Convenience Stores (7-11, U-Stop, Kabredlos)

Front 76

Carry standard merchandise sold at lower prices w/ lower margins and higher volumes

Back 76

Discount Stores (WalMart, Target, Kohls)

Front 77

Sell merchandise bought at less-than-regular wholesale prices and sold at less than retail. Often leftover goods, overruns, and irregular products obtained at reduced prices from manufactureres or other retailers.

Back 77

Off-Price Retailers (TJ Maxx, Costco) - factory outlets or warehouse clubs

Front 78

Very large stores traditionally aimed at meeting consumer's total needs for routinely purchased food and nonfood itmes.

Back 78

Superstores (WalMart Supercenters, Super Target, Best Buy, PetSmart)

Front 79

Giant speciality store that carries a very deep assortment ofa particular linea nd is staffed by knowledeable employees

Back 79

Category Killer

Front 80

Retailer whose product line is actually a service (hotel, airlines, banks, colleges)

Back 80

Service Retailer

Front 81

Off-Price retailer that is either independently owned and run or is a division of a larger retail coporation

Back 81

Independent off-price retailer

Front 82

Off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and many other goods at deep discounts to members who pay annual membership fees

Back 82

Warehouse club (sams club)

Front 83

Two or more outlets that are commonly owned and controlled

Back 83

Chain Stores

Front 84

A contractual association between a manufacturer, wholesaler, or service organization (a franchiser) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system

Back 84

Franchise (McDonalds, JiffyLube, Subway, Holiday Inn)

Front 85

two or more outlets that are commonly owned and controlled. Appear in all types of retailing, but are strongest in department stores, food stores, drug stores, food stores

Back 85

Corporate chain Store (Sears, CVS)

Front 86

Wholesaler-sponsored group of independent retailers engaged in group buying and merchandising

Back 86

Voluntary Chain (True Value, Western Auto)

Front 87

Group of independent retailers who set up a central buying organization and conduct joint promotion efforts

Back 87

Retailer Cooperative (Ace Hardware)

Front 88

Free-form corporation that combines several diversified retailing lines and forms under central ownership, along w/ some integration of their distribution and management functions

Back 88

Merchandising Conglomerate (limited brands)

Front 89

Group of retail businesses planned, developed, owned and managed as a unit

Back 89

Shopping Center

Front 90

Concept that states that new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced, higher-service operations, eventually becoming like the conventional retailers they replaced

Back 90

Wheel of retailing concept

Front 91

All activities involved in selling goods and services to those buying for resale or business use

Back 91

Wholesaling

Front 92

A firm engaged primarily in wholesaling activities

Back 92

Wholesaler

Front 93

Independetly owned busienss that takes title to the merchandise it handles

Back 93

Merchant Wholesaler

Front 94

A wholesaler who doesn't take title to goods and whose function is to bring buyers and sellers together and assist in negotiation

Back 94

Broker

Front 95

A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and doesn't take title to goods

Back 95

Agent

Front 96

Wholesaling by sellers or buyers themselves rather than through independent wholesalers

Back 96

Manufactuerers' sales branches and offices

Front 97

Specific blend of advertising, public relations, personal selling, sales promotion, and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships

Back 97

Promotion Mix

Front 98

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor

Back 98

Advertising

Front 99

Short-term incentives to encourage the purchase or sale of a product or service

Back 99

Sales Promotion

Front 100

Personal presentation by the firm's sales force for the purpose of making sales and building customer relationships

Back 100

Personal Selling

Front 101

Building good relations with the company's various publics by obtaining favorable publicity, building up a good "corporate image", and handling or heading off unfavorable rumors, stories, and events

Back 101

Public Relations

Front 102

Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

Back 102

Direct Marketing

Front 103

Carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products

Back 103

Integrated Marketing Communications

Front 104

A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members to induce them to carry the product and to promote it to final consumers

Back 104

Push Strategy

Front 105

Promotion strategy that calls for spending a lot on advertising and consumer promotion to induce final consumers to buy the product. If the pull strategy is effective, consumers will then demand the product from channel members, who will in turn demand it from producers

Back 105

Pull Strategy

Front 106

Specific communication task to be accomplished with a specific target audience during a specific period of time

Back 106

Advertising objective

Front 107

The dollars and other resources allocated to a product or company advertising program

Back 107

Advertising budget

Front 108

Setting the promotion budget at the level management thinks the company can afford

Back 108

Affordable Method

Front 109

Setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

Back 109

Percentage of sales method

Front 110

Setting the promotion budget to match competitors' outlays

Back 110

Competitive-parity method

Front 111

Strategy by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media

Back 111

Adversting strategy

Front 112

Term that has come to represent the merging of advertising and entertainment in an effort ot break through the clutter and create new avenues for reaching consumers with more engaging messages

Back 112

Madison & Vine

Front 113

Compelling "big idea" that will bring the advertising message strategy to life in a distinctive and memorable way

Back 113

Creative Concept

Front 114

Approach, style, tone, words and format used for exchanging an advertising message

Back 114

Execution Style

Front 115

Vehicles through which advertising messages are delivered to their intended audiences

Back 115

Advertising Media

Front 116

Net return on advertising investment divided by the costs of the advertising investment

Back 116

Return on advertising investment

Front 117

Marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs

Back 117

Advertising Agency

Front 118

___ ____ pricing - price is considered before marketing program is set. Pricing begins with assesing customer needs and value perception. Ex. Bentley Cars (good value even at $150,000)

Back 118

Value - Based Pricing

Front 119

Offering just the right combination of quality and good service at a fair price (ex. McDonald's Dollar Menu)

Back 119

Good-value pricing

Front 120

Power to escape price competition and to justify higher prices and margins. Example - Stag made their umbrellas higher quality, as well as made better designs, but still price their umbrellas relatively high

Back 120

Value - Added Pricing

Front 121

"Low cost producers = low price" Example, Wal Mart, Southwest Airlines

Back 121

Cost - based pricing

Front 122

Cots of companys monthly rent, heat, interest, salary, etc.

Back 122

Fixed Costs

Front 123

Total costs of these varies w/ number produced/sold

Back 123

Variable Costs

Front 124

___ ___ pricing ignores competition, adds a standard markup to cost (ex. store pays manufacturer $20/toaster. Sells toaster at store for $30)

Back 124

cost plus pricing

Front 125

______ ___ pricing - also called going rate pricing. May price at same, higher, or lower level. Bidding for jobs is an example

Back 125

Competition based pricing

Front 126

_____ ____ is used to support product positioning strategies based on price

Back 126

target costing

Front 127

Setting high price for product entering market (Sony HDTV's were price at $2000 to begin)

Back 127

market skimming

Front 128

Setting low price while entering market (walmart, Dell

Back 128

Market penetration

Front 129

Setting prices based on items within the product line (ex. Marriot hotel Chain - Marriott luxury all the way down to Courtywards)

Back 129

Product line pricing

Front 130

Accessory products sold within the main product (supplement software, Cars - option of navigation system, Tv, speakers, etc)

Back 130

Option product pricing

Front 131

Setting price for product that must be used with another product (ex. - xbox 360 $199, fifa 2010 $60)

Back 131

captive product pricing

Front 132

combining several products and offerering them as a bundle and reduced price (Time Warner Cable - cable, internet, phone - cheap price)

Back 132

product bundle pricing

Front 133

price becomes an important quality signal when customers cant judge quality..price is used to say something about a product (What do you think is higher quality of whiskey based on price...Jack or Windsor?)

Back 133

psychological pricing

Front 134

____ ____ can be formed by noting current prices, remembering old prices, or assessing the buying situation (example - clothes placed in higher pricing area of store must mean they're greater quality)

Back 134

reference point

Front 135

___ pricing - A - $100, B - $150

Back 135

FOB

Front 136

____ pricing - A - $100, B - $100

Back 136

uniform

Front 137

___ pricing - west $200, east $300

Back 137

zone

Front 138

______ pricing - select a city, and charge shipping from that city

Back 138

basing potin

Front 139

___ pricing on web allows sellers to charge lower prices, monitor customer behavior, change prices on demand

Back 139

dynamic

Front 140

price ___ may occur b/c of excess capacity, falling market share, dominate market through lower costs

Back 140

price cuts

Front 141

price ____ may occur b/c cost inflation, overdemand (gas, oil)

Back 141

price increase

Front 142

____ ____ -competitors cannot work with eachother to set prices

Back 142

price fixing

Front 143

____ _____ - firms may not sell below cost with the intention of punishing a competitor or gaining higher long run profits or running a competitor out of business

Back 143

predatory pricing

Front 144

Reward customer for paying early is example of ______ pricing

Back 144

discount

Front 145

difference between amount of product produced and the amount an end user wants to buy

Back 145

discrepeancy of quantity

Front 146

lack of all the items a customer needs to receive full satisfaction form a product or products

Back 146

discrepancy of assortment

Front 147

situation that occurs when a product is produced but a customert is not ready to buy it

Back 147

temporal discrepancy

Front 148

difference between the location of a producer and the location of widely scattered markets

Back 148

spatial discrepency

Front 149

How _____ ____ add value: Dove makes millions of bars of soap everyday. They distribute them in boxes by the hundreds to Wal Marts. Wal Marts put them on their shelves so customers only have to buy a box instead of all 1 million

Back 149

marketing channels

Front 150

This channel has no intermidary levels (Door to door selling)

Back 150

Direct Channel

Front 151

This channel has one or more intermidiary levels (HyVee)

Back 151

Indirect Channel

Front 152

There are 2 Holiday Inns in Omaha. Holiday Inn A runs hotel very well, but Holiday Inn B has very poor customer service and is disgusting. Holiday Inn A complains that B is hurting the overall image of the hotel. This is an example of ____ conflict

Back 152

horizontal

Front 153

Eustis has always sold its corn to local farmer markets. Now, they are decided to scrap that idea and sell all their corn to Wal Mart. This is an example of a ____ conflict

Back 153

vertical

Front 154

HyVee has 8 milk farms, 7 ice cream plants, and 4 soft drink botling plants. They use all these foods and drinks and then puts them on their own shelves. This is an example of a _______ marketing system

Back 154

Corporate VMS

Front 155

Leadership based on size and power (for example, Wal Mart can have strong influence on the manufacturers that supply the procuts they sell)

Back 155

administered VMS

Front 156

Occurs when a company uses two or more marketing channels (for example, John Deere sells all its stuff online, in Lowes, in retail shops, etc.)

Back 156

multichannel distribution systems

Front 157

Cutting out of marketing channel intermediaries (example - southwest airlines sells directly to customer, iTunes and threatining existence of traditional CD stores)

Back 157

disintermediation

Front 158

____ _____ decision consists of analyzing consumer needs, setting channel objectives, identifying major alternatives, evaluating major alternatives

Back 158

channel design decisions

Front 159

coke distributed at every outlet example of ______ distribution

Back 159

intensive

Front 160

Bentley Cars only distributed at certain car dealerships exapmle of ______ distribution

Back 160

exclusive

Front 161

Samsungs are distributed at Best Buys, Targets, and Wal Marts are example of ___ distribution

Back 161

selective

Front 162

____ ___ dominant and controlling member of a marketing channel

Back 162

channel captain

Front 163

____ distribution - only certain outlets are allowed to carry a firms product

Back 163

exclusive

Front 164

Suppliers to company to resellers to customers back to suppliers is the _____ ____ _____

Back 164

supply chain managemetn

Front 165

Marketing logistics in supply chain system

Back 165

outbound, inbound, reverse

Front 166

piggyback - rail and trucks, fishyback - water and trucks, trainship - water and rail, airtruck - air and truck

Back 166

true

Front 167

Basis of all discount operations and is typically used by retailers selling convinence goods (wal-mart, Kohls)

Back 167

self-service retailer

Front 168

These retailers provide more sales assistance b/c they carry more shopping godos about which cusomters need information about (Sears/Home Depot)

Back 168

limited service retailers

Front 169

These retailers are high-end specialty stores, where sales people assist customers in every phase of the shopping process (Nordstroms)

Back 169

full-service retailers

Front 170

Tiffanys is an example of this store that carries a narrow product line with deep assortment within those lines (full service retailer)

Back 170

specialty stores

Front 171

Nordstrom is an example of this store, as it provides exclusive merchandise, high quality service, but a broader service line (limited service)

Back 171

department store

Front 172

Safeway is an example of this store that is relatively large, low cost, high volume, designed to serve customers total needs for grocerys and household

Back 172

supermarket store

Front 173

7-Eleven is an example of this store that provides a limited line of high turnover products at slightly higher prices

Back 173

convience store

Front 174

Walmart is a perfect example of this kind of store, which sells standard merchandise at lower prices by accepting lower margins and selling at higher prices (self-service stores)

Back 174

discount store

Front 175

Factory outlets are examples of this kind of store, which buys the less than regulare wholesale price and sells at less than retail

Back 175

off-price retailer

Front 176

Barnes and Noble is an example of this giant specialty store

Back 176

category killer

Front 177

Sears is an example of this commonly owned and controlled store

Back 177

corporate chain store

Front 178

Wholesaler sponsored group of independent retailers engaged in group buying and merchandising

Back 178

voluntary chains

Front 179

group of independent retailers who buy in bulk (ace hardware)

Back 179

retailer cooperatives

Front 180

diversified retailing lines and forms under central ownership (limited brands)

Back 180

merchandising conglomerate

Front 181

Southpointe is an example of a ______ mall

Back 181

lifestyle

Front 182

merging of consumers, prodcuts, prices and retailers (greater competition for retailers and greater difficulty in differentiating offererings)
(Ex. - WalMart destroying independent local stores, Best Buy destroying independent CD, electronic stores)

Back 182

Retail convergence

Front 183

T/F - because wholesalers buy mostley from PRODUCERS and sell mostly to RETAILERS, many of them aren't known to final consumers

Back 183

TRUE

Front 184

______ bring buyers and sellers together and assist in negotiation

Back 184

brokers

Front 185

__________ targeting may be made on the basis of size of the customer (large retails), type of retailer (convenince store), need for service (customers need credit)

Back 185

wholesalers

Front 186

__________ only carry the most profitable inventory/lines. They usually markup their prices by 20%, they don't really care about promotion, their location must be techonolgical and automated

Back 186

wholesalers

Front 187

_____ ______ _______ - fierce resistance to price increases, winnowing out of suppliers who are not adding value based on cost and quality, distinciont between large retailers and wholesalers is blurry

Back 187

trends in wholesaling

Front 188

specific blend of advertising, public relations, sales promotion, personal selling, direct marketing

Back 188

promotion/marketing communications mix

Front 189

Nikon gave 200 ordinary people their newest camers, and featured them and their photos in TV and prints ads. They were also on a website. The ads, website, supporting PR, and even event itself were carefully integrated to deliver a unified message. This is an example of_______

Back 189

IMC integrated marketing mix

Front 190

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor (TV is the place to do this)

Back 190

advertising

Front 191

_____ _____ is nonpublic, immediate and customized, and interactive

Back 191

direct marketing

Front 192

___ ____ involves ___ the product through marketing channels to final consumer (producer directs its marketing actvities (primarily personal selling and trade promotion) toward channel members to induce them to carry the product and to promote it to final customrs (sales people)

Back 192

Push Strategy

Front 193

____ ____, producer directs its marketing activities (advertising and consumer promotion) toward the final customers to induce them to buy the product. Consumer demand _____ the prodcut through the channels (seeing ad on TV)

Back 193

Pull Strategy

Front 194

_____ objectives can be to inform, persuade, or remind

Back 194

advertising

Front 195

____ advertising is when a company compares its brand with a competing brand (ex. Pizza Hut - "sure tastes better than Dominos or Papa Johns"

Back 195

Comparative

Front 196

Small businesses use this method of advertising, when they set the promotion budget at a level management thinks the company can afford

Back 196

Affordable method

Front 197

Under this advertising method, companies develop the promotion budget by 1. defining specific objectives 3. determining the tasks that must be performed to achieve these objectives and 3. estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget

Back 197

Objective and task method

Front 198

Setting the promotion budget to math competitors' outlays

Back 198

competitive-parity method

Front 199

setting the promotion budget at a certain percentage of current or forecasted sales or as a percetnage of the unit sales price

Back 199

percentage of sales method

Front 200

Was the creation of the MINI cooper advertising campaigns by BMW media ideas or clever creative ideas?

Back 200

BOTH - product of a tight media-creative partnership

Front 201

Term coined to represent the coming together of the advertising and entertainment industry

Back 201

Madison and Vine

Front 202

Advertisement messages must be meaningful, believable, and distinctive (ex. - watches? Timex says it can take a beatin, Fossil focuses on luxury)

Back 202

True

Front 203

______ ____ - approach, style, tone, words, and format used for executing an advertising message (lifestlye, fantasy, mood, personality, etc)

Back 203

execution style

Front 204

This execution style shows one or more typical person using product in normal setting (young professional starting day off with milk)

Back 204

slice of life

Front 205

This style features someone dreaming they can do something (ex. Adidas ad where you can beat Usain Bolt)

Back 205

Fantasy

Front 206

This style creates a character that represents the product (Mr. Clean, GEICO gecko, Marlobora man, Afflack Duck)

Back 206

Personality symbol

Front 207

Style features highly believeable or likable source endoursing product (ex. manning drinking Gaterade)

Back 207

Testinominal evidence or endorsement

Front 208

___ of the ad: way the ad wants to be represented (funny, serious, etc) (ex. beer commercials usually funny)

Back 208

tone

Front 209

The Dorito's Crash the Super Bowl Challenge contest invited consumers to create their own viceo ads. Then they showed the winning ad on the Super Bowl. This is an example of a _____ ____ _____

Back 209

consumer generated message

Front 210

Gross rating points =

Back 210

reach times frequency

Front 211

marketing service frim that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs

Back 211

advertising agency

Front 212

building good relations with the company's various publics by obtaining favorable publicity, buidling up a good corporate image, and handling or heading off unfavorable rumors, stories, and events

Back 212

public relations

Front 213

Functions of Public Relations

creating and placing newsowrthy information in the news media to attract attention to a person, product, or service

Back 213

press relations or press agency

Front 214

Functions of Public Relations
publicizing specific products

Back 214

product publicity

Front 215

Functions of Public Relations
buliding and maintaing national or local community relations

Back 215

public affairs

Front 216

Functions of Public Relations
building and maintaining relations w/ legislators and government officials to influence legislation and regulation

Back 216

lobbying

Front 217

Functions of Public Relations
maintaining relationships with shareholders and others in the financial community

Back 217

investor relations

Front 218

Functions of Public Relations
public relatoins with donors or members of nonprofit organizations to gain financial or volunteer support

Back 218

development

Front 219

Scholastic used this to turn the release of Harry Potter book into a major international event by handing out hats, costumes, clubs, etc.

Back 219

public relations