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60 Cards in this Set

  • Front
  • Back
channel partnering
a joint effort bya ll channel members to create a suplly chain that serves customers and creates a competitive advantage
mass customization vs. Just in time
Mass Customization method-orders are produced after they are ordered

JIT-raw materials arrive just before they are needed.
2 kinds of inventory control systems
Materials Requirement Process-manages the replenishment of raw materials

Distribution Resource Process- manages the replenishment of the goods from the manufacturer to the consumer
all the activities related to the sale of goods and servces to the consumer
gross margin
the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
scrambled merchandising
the offering of non-traditional goods and services under one roof
mass merchandising
a retailing strategy using moderate to low prices on large quantities of merchandice adn lower service to stimulate high turnover of products
direct retailing
the selling of products by reps who work door to door, office to office, or at home parties
direct marketing
techniques used to make a customer make purchases from their home, office, or other nonretail setting.
retailing mix
COnsists of the 6 P's:
Product, Placement, Price, Promotion, Presentation, and Personnel
a consumer that is happy enough with their initial experience with a product to use it again
a product percieved as new by a potential adopter
the process by which the adoption of an innovation spreads
product category
includes all brands that satisfy a particular type of need
4 stages of a product
The result of applying human or mechanical efforts to people or objects
search quality
a characteristic that can be assessed before purchase
experience quality
a characterstic that can be assessed only after purchase
creedence quality
a quality that still cannot be assessed even after purchase
eg. medical and consulting services
The ability of a service to preform dependably, accurately, and consistently
The ability to provide prompt service
The ability to convey trust to the consumer
caring, individualized attention to customers
the physical evidence of a service
gap models
identifies 5 gaps that could cause problems in service delivery
mass customization
a strategy that uses technology to deliver customized services on a mass basis
marketing channel
a set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer
supply chain
a connected chain of all the business entities that preform the logistics function
merchant wholesaler
buys from manufacturers, sells them to business
the process of strategically managing the efficient flow and storafe of raw materials, in process inventory, and finished goods from point or origni to point of consumption
direct channel
a distributon channel in which the manufacturer sells directly to the consumer
strategic channel alliance
a cooperation between two or more business in which their channels are shared
supply chain management
a management system that coordinates adn integrates all of the activities performed by supply chain members
channel power, control, and leader
power-power to influence behavior of another channel member
control-actually influencing
leader-person who actually does the influencing
a channel member that sells mainly to consimers
undiferentiated targeting strategy
views market as one big market with no individual segments, and thus requires only one marketing mix
One segment of the market
Everything, good and bad, that is gained in an exchage
4 types of consumer products
convenience, shopping, specialty, and unsought
product mix
all the products an organization sells
a name, term, symbol, design, or combonation thereof that identifies a seller's products and differentiates them from competitors' products.
brand name vs. brand mark
name is everythign that can be spoken, while mark is everything that can't
brand equity
the value of a company and brand names
generic product
A no frills, no brand name, low cost product that is simply identified by its product category.
manufacturer's brand vs. private brand
manuf. is the brand name of a man., while a prvate brand is owned by a retailer.
Individual vs. family brands
Individual has a different brand for different products, while family use the same one for a group of products.
persuasive labeling
Tries to promote a theme or logo, and doesn't provide useful info.
express warranty
a written guarantee
implied warranty
an unwritten guarentee that the good or service is fit for the purpose for which it was sold
New Product development Processm (7 steps)
1.New Product Strategy
2.Idea Generation
3.Idea Screening
4.Business Analysis
6.Test Marketing
eliminating the ideas which are inconsistent with a businesses new product strategy
concept test
testing a new product idea, before it has been created
simultaneous product development
A team approach to new product development
simulated (laboratory) market testing
the presentation of advertising and other promo materials for a test product to members of the test market
the decision to produce a product
Steps in Segmenting a Market
1. Choose a Market
2. Choose a basis for segmenting it
3. Choose Segmentations Descriptors
4. Profile and Analyze Segments
5. Select Target Market
6. Design, implement, and maintain appropriate marketing mixes.
People or Organization with the ability and willingness to buy a good or service
segmentation bases (variables)
characteristics of individuals or groups
6 kinds of segmentation bases
geographic, demographic, Psychographic, Benefit, and geodemographic, and usage-rate
segmenting potential customers into neighborhood lifestyle categories (i.e. somewhat personality, somewhat geographic)