PRINCIPLES OF MARKETING NOTES Chapters 13-15

Distribution

The decisions and activities that make products available to consumers when and where they want to purchase them

Supply Chain

All the organizations and activities involved with the flow and transformation of products from raw materials through to the end customer

Procurement

Processes to obtain resources to create value through sourcing, purchasing, and recycling including materials and information

Logistics Management

Planning, implementing, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption in order to meet customers’ needs and wants

Operations Management

The total set of managerial activities used by an organization to transform resource inputs into goods, services, or both

Supply Chain Management (SCM)

The coordination of all the activities involved with the flow and transformation of supplies, products, and information throughout the supply chain to the ultimate consumer

Blockchain

a incorruptible digital recordkeeping system

Marketing Channel

A group of individuals and organizations that direct the flow of products from producers to customers within the supply chain

Marketing Intermediaries

Middlemen that link producers to other intermediaries or ultimate consumers through contractual arrangements or through the purchase and resale of products

Intensive Distribution

Using all available outlets to distribute a product

Selective Distribution

Using only some available outlets in an area to distribute a product

Exclusive Distribution

Using a single outlet in a fairly large geographic area to distribute a product

Retailer

An organization that purchases products for the purpose of reselling them to ultimate consumers

Multichannel Retailing

Employing multiple types of retailing (brick & mortar, online, tv)

Online Retailing

Retailing that makes products available to buyers through internet connections

General-Merchandise Retailer

A retail establishment that offers a variety of product lines that are stocked in considerable depth

Franchising

An arrangement in which a supplier (franchisor) grants a dealer (franchisee) the right to sell products in exchange for some type of consideration ($)

Direct-Response Retailing

 A type of marketing in which a retailer advertises a product and makes it available through mail, telephone, or online

Telemarketing

The performance of marketing-related activities by telephone

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

Direct Selling

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

Wholesaling

Transactions in which products are bought for resale, for making other products, or for general business operations. However: does not include exchanges with ultimate consumers

Integrated Marketing Communications

Coordination of promotion and other marketing efforts for maximum informational and persuasive impact on customers

Promotion

Communication to build and maintain relationships by informing and persuading one or more audiences

Primary Demand

Demand for a product category rather than for a specific brand

New Introductory Promotion

Promotion that informs consumers about a new product

Selective Demand

Demand for a specific brand

Promotion Mix

A combination of promotional methods used to promote a specific product

Push Policy

Promoting a product only to the next institution down the marketing channel

Pull Policy

Promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel

Word-of-Mouth Communication

Personal, informal exchanges of communication that customers share with one another about products, brands, and companies

Buzz Marketing

An attempt to incite publicity and public excitement surrounding a product through a creative event

Viral Marketing

A strategy to get consumers to share a marketer’s message, often through email or online videos, in a way that spreads dramatically and quickly

Product Placement

The strategic location of products or product promotions within entertainment media content to reach the product’s target market