marketing exam 3

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Retailing

Retailing

includes all the activities involved in selling products or services to final consumers

Retailers

Businesses whose sales come primarily from retailing

Shopper Marketing

Focusing the marketing process on turning shoppers into buyers at the point of sale

Omni-Channel Retailing

seamless cross channel buying experience incorporating online, mobile, and in-store

Specialty Store

carry narrow procut lines with deep assortment within the product lines

Department Store

carry a wide vareity of product lines

Supermarket

most visited type of retailer, many products and average prices, competes with discount stores and specialty stores

Convenience Store

carry a limited line of high turnover goods. Wawa

Service Retailer

product line is a service. hotels, banks, airlines etc.

Discount Store

sells standard merchandise at lower prices, taking lower margins for higher turnover

Off-Price Retailer

buy at less than wholesale prices and sell at less than retail prices

Independent off price retailer

indepentently owned and run off price retailer

factory outlet

manufacturer owned and operated discount stores

warehouse club

coscto. low prices and good, limited time deals

corporate chain

two or more outlets that are commonly owned and controlled

franchise

based on a unique product or service, such as mcdonald's and chick fil a

shopping center

a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit

wholesaling

includes all activities involved in selling goods and services to those retailing

wholesaler

firms primarily engaged in wholesaling

merchant wholesaler

largest group of wholesalers. full service wholesalers provides full services, and limited wholesalers are limited

broker

brings buyers and sellers together and assists in negotiations

agent

represents buyers and sellers ona. more permanent basis

manufacturers and retailers branches and offices

wholesaling done by sellers or buyers themselves, rather through independent wholesale firms

category killer

giant specialty stores such as home depot

promotion mix

consists of the specific blend of advertising, pr, personal selling, sales promoting, and direct and digital marketing tools used to engaged customers

advertising

any paid form of nonpersonal presentation and promotin of ideas, goods, and services

sales promotion

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

personal selling

personal customerrn interaction by the firm's sales force to engage customers

public relations

building good relations with the company's publics by obtaining good publicity, building a good corporate image, and defending against unfavorable press.

direct and digital marketing

engaging directly with individual customers and communities to obtain a response and build customer relationships

content marketing

managers that create inspire and share brand messages and conversations

integrated marketing and communications

a company integrates many communications channels to deliver a clear consistent and compelling messsage

push strategy

pushing the product through marketing channels to final consumers

pull strategy

directs marketing activities to final consumers to entice them to buy the product

advertising objective

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

advertising budget

after determining objectives, companies must set a budget for advertising

affordable method

a set level at which the company thinks it can afford

percentage of sales method

setting the budget at a forecasting or current percent of sales

competitive parity method

Setting the promotion budget to match competitors budgets

objective and task method

setting the budget based off of what the company wants to achieve with the budget

advertising strategy

creating advertising messages and selecting advertising media

madsion and vine

merging advertisement and entertainment to reach consumers with more engaging messages

native advertising

sponsored content in which the ad seems native to the web or social site it is placed

creative concept

the big idea that will make the advertised message distinct and memorable

excecution style

the approach and style that the creative concept is displayed

advertising media

steps in determining media involve the reach, frequency, and impact, media types, media vehicles, and media timing

return on advertising inestiment

evaluates the communication effects (who is reached) and the effects on sales and profit ( how much did it make)

advertising agency

brings an outside point of view to a company from a third party, experienced company

digital and social media marketing

uses digital marketing tools and other digital platforms to directly engage consumers anywhere using digital devices

digital component of omni channel retailing

many omni channel retailers have seen largest growths in online components

online marketing

marketing via the internet

marketing websites

websites designed to engage customers and move them towards a digital purchase

brand community websites

presents brand content that engages consumers and creates customer brand community

online advertising

advertising used to draw consumers to brand websites

email marketing

marketing in the form of emails sent to consumers

spam

unsolicited commercial messages that produces customer irritation

viral marketing

digital version of word of mouth marketing that results from a brands videos or products going viral

blogs

online forums that people and companies can post their thoughts on. not easily controlled.

social media

independent and commercial social networks in which people can connect.

mobile marketing

marketing messages promos and content shown to consumers through their mobile devices

direct mail marketing

sending offers or other items to a consumer at a particualr address

catalog marketing

traditional magazine pages used for marketing are now making their way online, with some online only catalogs available to consumers

telemarketing

using the telephone to personally sell to businesses and consumers

Direct response television marketing

direct marketing through television channels and infomercials