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48 Cards in this Set

  • Front
  • Back
covers all activities invovled in sale of products to final consumers-->3/4 of new retailing venture fail during first year.
retailer's whole offering
assortment of goods and services, advice from salesclerks, conveninence, and the like = "Product"
convenience retailer
available hours, findin needed products, fast checkout, location, parking
product selection
width and depth of assortmnet, quality
special services
special orders, home delivery, gift wrap, entertainment
faireness in dealing
honesty, correcting problems, return priviliees, purchase risks
helpful info
courteous sales hlep, displays, demonstrations, product info
value, credit, special discounts, taxes or extra charges
social image
stauts, prestige, "fittingin " with other shopers
shopping atmosphere
comfort, safety, excitement, relaxation, sounds, smells
single-line or limited-line stores
stroes that specialize in certain lines of related products rather than a wide assortment
main advantage of limited-line retailers
can satisfy some target markets better
speciality shop
type of conventiaonl limited-line store, usually small nad has a distinct "personality" -->aim at carefully defined target market by offering a unique product assortment, knowledagble salesclerks, and better service -->simiplifes buying, speeds turnover, and cuts costs
departmenet stores
organized into many separte deparmtments and offer many product lines, like a separate limited-line stores; mass-merchandising retailers=bigger threat
mass-merchandising concept
says that retailers should offer low prcies to get faster turnover and greater sales volumes by appealing to larger markets ;
must have annual sales of at least $2million. ; have to offer lots of choices, low costs; survival depends on efficiency-->profits=one percent or less.
discount houses
"hard goods" cameras, TVs, appliances; big price cuts. no warranty available
large, self-service stores w/ "soft goods" housewares, clothing, fabrics and "staples" (health and beauty aids), like Wal-mart and target.
supercenters (hypermarkets)
very larges tores that try to carry not only food and drug items but all goods and services taht consumers purchases routinely (meijer, super target, wal-mart)
warehouse club
sam's club and costco. when 1/2 or more of firm's sales are to final consumers-->classified as retailer, not wholesaler
conveninence (food) stores
convenincne-orientated variation of the conventional limited-line food stores-->7-11, fill needs b/t trips to a upermarket -->compete w/ fast food
automatic vending
selling and delivering products through vending machines.
door-to-door selling
sales peron going directly to consumer's home. --> convenient personal attention
telephone and direct-mailing retailing
allows consuemrs to shopat home; time-pressured, dual-career families; reduce costs by using ocompute rmailig lists to target specific customers and by using warehouse-type buildings and limited sales hlep; no shoplifting
communication info b/t seller and potentail buyer or others in the channel to influence attitudes and behavior
personal selling
direct spoken communication b/t sellers and potential customers
firms spend less money on
advertising than on personal selling or slaes promotion
sales managers/advertising managers/public relations/ sales promotion managers
manging personal selling; bulding good distribution channels/ manage company's mass-selling efforts (in TV, news)/communication w/ noncustomres(labor, public interest grps, stockholders, and gov't)/ manage their companyh's sales promotion effort
integrated marketing communications
interntional coordination of every communication from a firm to a target customer to convey a consistent and complete message
promotion's goals
reinforce present attitudes or relationships that might lead to favorable behavior 2. actually change the attitudes and behavior of the firm's target market
promotion objectives
informing, persuading, reminding; firm will try to develop a favorable set of attitudes so customers will buy, and keep buying its product
AIDA model
1 to get attention; 2 to hold interest; 3 to arouse Desire; 4 to obtain Action
pushing (a product through a channel)
means using normal promotion effort-personal selling, advertising, and sales promotion to help sell the whole marketing mix to possible channel members. ; producers usually take on most reponsibility for pushing effort
sales promtoin targeted at middlemen
focus on short-term arrangements that will improve the middleman's profits-->trade ads; some firms use promotion to motivate employees to provide customer service oar achieve higher sales
customers to ask middlemen for the product; highly agressive promtion to final consumers or uses-perhaps using coupons or samples-temporarily bypassing middlemen. -->middlemen forced to carry the stock; should tell middlemen so can carry stock before consumers lose interest
adoption curve
shows when different groups accept ideas
first to adopt, eager to try new idea, take risks, young and welleducated
early adopters
opinion leaders tend to be younger, more mobile, and more creative-->greatest contact w/ salespeople
early majoirty
avoid risk, great deal of contact w/ mass media, salespeople, early adopter opinion leaders
late majority
cautious about new ideas, older, strong social pressure, little use of marketing srouces of information
laggards or nonadopters
very suspicious of new ideas, older, less well educated
primary demand
market introduction-->product is really new idea, needs primary demand--<>demand for genearl product idea, not just for company's own brand.
market growth stage, selective demand
demand for a company's own brand
market maturity stage, selling->
aggressive personal selling
sales decline-->
promotion usually decreases
method for budgeting for promotion expenditures
compute a percentage of either past sales or sales expected in the future
task method
basing the budget on the job to be done
sales promotion focuses on
short-term promotion