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Marketing Channel

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142 Terms

1

Marketing Channel

individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users

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2

Agent or Broker

any intermediary with legal authority to act on behalf of the manufacturer

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3

Wholesaler

a marketing intermediary that sells to other organizations

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4

Transactional Functions

buying, selling, risk taking

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5

Logistical Functions

assorting, storing, sorting, transporting

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6

Facilitating Functions

researching, financing

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7

Direct Channel

a distribution channel in which producers sell directly to consumers

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8

Indirect Channel

intermediaries are inserted between the producer and consumers and perform numerous channel functions

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9

Direct to Consumer Marketing Channels

allow consumers to buy products by interacting with various print or electronic media without a face-to-face meeting with a salesperson

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10

Multichannel Marketing (Omnichannel Marketing)

the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online

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11

Vertical Marketing Systems

professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact

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12

Corporate Vertical Marketing System

a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain; it may own facilities such as manufacturing plants, warehouse facilities, retail outlets, and design studios

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13

00:02

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14

01:16

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15

Intensive Distribution

stocking the product in as many outlets as possible

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16

Exclusive Distribution

giving a limited number of dealers the exclusive right to distribute the company's products in their territories

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17

Selective Distribution

a form of distribution achieved by screening dealers to eliminate all but a few in any single area

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18

Buyer Requirements

information, convenience, variety, and pre or post sale services

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19

Channel Conflict

disagreements among marketing channel members on goals, roles, and rewards - who should do what and for what rewards

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20

Vertical Conflict

a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer

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21

Disintermediation

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

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22

Horizontal Conflict

a channel conflict that occurs among channel members on the same level

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23

Channel Captain

a manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts

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24

Logistics

the management of the details of an operation

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25

Supply Chain

the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function

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26

Supply Chain Management

a management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value

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27

Consumer Utilities

time, place, form, possession

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28

Form of Ownership

distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet

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29

Level of Service

used to describe the degree of service provided to the customer

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30

Merchandise Line

how many different types of products a store carries and in what assortment

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31

Independent Retailer

a firm that operates only one retail outlet

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32

Corporate Chain

a firm that owns and manages more than one store—and often it's many

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33

Franchising

selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits

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34

Self Service

requires that customers perform many functions during the purchase process

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35

Limited Service

provide some services, such as credit and merchandise return, but not others, such as clothing alterations

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36

Full Service

provide many services to their customers

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37

Depth of Product Line

the store carries a large assortment of each item

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38

Breadth of Product Line

the variety of different items a store carries

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39

Supercenter

a large retailer that stocks and sells a wide variety of merchandise including groceries, clothing, household goods, and other general merchandise

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40

Automatic Vending

the use of machines to offer goods for sale

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41

Direct Mail and Catalogs

store to your door; eliminates the cost of a store and clerks and improves marketing efficiency through segmentation and targeting

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42

Television Home Shopping

a form of selling in which products are presented to television viewers, who can buy them by calling a toll-free number and paying with a credit card

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43

Online Retailing

retailing that makes products available to buyers through computer connections

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44

Telemarketing

using the telephone to sell directly to customers

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45

Direct Selling

marketing products to ultimate consumers through face-to-face sales presentations at home or in the workplace

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46

Retail Positioning Matrix

a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige

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47

Retailing Mix

a combination of the six Ps—product, place, promotion, price, presentation, and personnel—to sell goods and services to the ultimate consumer

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48

Markup

the amount added to the cost of merchandise to establish the selling price

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49

Markdown

a reduction of selling price below the original selling price

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50

Everyday Low Pricing (EDLP)

setting prices lower than competitors and then not having any special sales

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51

Off-Price Retailing

selling brand-name merchandise at lower than regular prices

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52

Retail Image

the way a firm is perceived by its customers

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53

Shopper Marketing

focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping

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54

Category Management

a retail strategy of managing groups of similar, often substitutable products produced by different manufacturers

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55

Retail Life Cycle

the process of growth and decline that retail outlets, like products, experience, consisting of the early growth, accelerated development, maturity, and decline stages

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56

Marketplace

any location or medium used to conduct an exchange

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57

Digital Marketplace

a digital retail site made up of small, independent sellers

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58

Interactive Marketing

training service employees in the fine art of interacting with customers to satisfy their needs

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59

Choiceboards

an interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (or components), prices, and delivery options

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60

Personalization

the consumer-initiated practice of generating content on a marketer's website that is custom tailored to an individual's specific needs and preferences

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61

Permission Marketing

method of marketing that asks consumers to give their permission to voluntarily accept online advertising and e-mail

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62

Customer Experience

the internal response that customers have to all aspects of an organization and its offering

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63

Eight-Second Rule

a view that customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds

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64

Customerization

the growing practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer

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65

Viral Marketing

the digital version of word-of-mouth marketing: videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends

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66

Cookies

computer program, installed on hard drives, that provides identifying information

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67

Behavioral Targeting

using online consumer tracking data to target advertisements and marketing offers to specific consumers

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68

Social Commerce

a subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services

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69

Cross-Channel Consumer

an online consumer who shops online but buys offline, or shops offline but buys online

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70

Showrooming

the practice of examining merchandise in a physical retail location without purchasing it, and then shopping online for a better deal on the same item

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71

Webrooming

the practice of examining products online and then buying them in a store

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72

Marketing Attribution

the practice and techniques used to credit or value a particular channel and consumer touchpoint

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73

Promotional Mix

the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, and social media—used to reach the target market and fulfill the organization's overall goals

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74

Advertising

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor

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75

Public Relations

the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance

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76

Sales Promotion

marketing activities - other than personal selling, advertising, and public relations - that stimulate consumer buying and dealer effectiveness

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77

Direct Marketing

sales and promotional techniques that deliver promotional materials individually

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78

Product Life Cycle and Promotion Strategy

introduction, growth, maturity, decline

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79

Product Characteristics

complexity, compatibility, relative advantage, observability, trialability

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80

Stages of the Consumer Journey

prepurchase, purchase, postpurchase

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81

Push Strategy

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise

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82

Pull Strategy

a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel

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83

Promotion Decision Process

planning, implementation, evaluation

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84

Percentage of Sales Budgeting

allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold

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85

Competitive Parity Budgeting

matching the competitor's absolute level of spending or the proportion per point of market share

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86

All-You-Can-Afford Budgeting

money is allocated to promotion only after all other budget items are covered

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87

Objective and Task Budgeting

involves allocating funds to promotion whereby the company: (1) determines its promotion objectives; (2) outlines the tasks to accomplish these objectives; and (3) determines the promotion cost of performing these tasks

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88

Direct Orders

the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction

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89

Lead Generation

the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information

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90

Traffic Generation

the outcome of a direct marketing offer designed to motivate people to visit a business

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91

Product Advertising

a form of advertising that touts the benefits of a specific good or service

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92

Institutional Advertisements

advertisements designed to build goodwill or an image for an organization, rather than promote a specific product or service

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93

Message Content

an appeal or theme that will produce the desired response

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94

Message Creativity

determined by both the originality and appropriateness of the message used to inform and persuade, including visual or auditory presentation

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95

Message Appeals

sex, humor, fear, violence

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96

Reach

the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks

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97

Frequency

the number of times an individual is exposed to a given message during a specific period

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98

Gross Rating Points (GRPs)

a measure used for comparing the effectiveness of different media vehicles: average reach x frequency

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99

Cost Per Thousand (CPM)

the cost of reaching 1,000 individuals or households with the advertising message in a given medium

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100

Media Alternatives Pros and Cons

Pros: freedom to speak, diverse perspectives, creative expression, independence from corporations; Cons: lack of regulation, limited reach, digital divide, bias

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