unit 7

PROMOTIONAL MIX

Efforts by a company to reach distribution channels and target customer through communication such as personal selling, advertising, public relation, and direct marketing are called its

PULL STRATEGY

A promotional strategy designed to create buyer demand that will encourage channel members to stock a company's product is called a

PUSH STRATEGY 

is a promotional strategy designed to pressure channel members to carry a product and promote it to final users.

MARKETING COMMUNICATION

The process of sending promotional messages about products to target markets is called

DUAL EXTENSION / PRODUCT COMMUNICATION EXTENSION

method extends the same home-market product and marketing promotion into target markets.

PRODUCT EXTENSION COMMUNICATION ADAPTATION

Under ______ method, a company extends the same product into new target markets by alters its promotion. 

PRODUCT ADAPTATION COMMUNICATION EXTENSION

Under ________  method, a company adapts its product to the requirements of the international market while retaining the product's original marketing communication. 

DUAL ADAPTATION

method adapts both the product and its marketing communication to suit the target market. 

DISTRIBUTION

Planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption is called

DISTRIBUTION CHANNEL

The physical path that a product follows on its way to customers is called a

EXCLUSIVE CHANNEL

is one in which a manufacturer grants the right to sell its product to only one or a limited number of resellers. 

INTENSIVE CHANNEL

is one in which a producer grants the right to sell its product to many resellers. 

CHANNEL LENGTH

refers to the number of intermediaries between the producer and the buyer. 

VALUE DENSITY

The value of a product relative to its weight and volume is called its

WORLDWIDE PRICING

A pricing policy in which one selling price is established for all international markets is called

DUAL PRICING

A pricing policy in which a product has a different selling price in export markets than it has in the home market is called

TRANSFER PRICE

is the price charged for products sold between a company's division or subsidiaries.

ARM'S LENGTH PRICE

A free-market price that unrelated parties charge one another for a specific product is called an

COUNTERMARKETING

 is the attempt to destroy unwholesome demand for products that are considered undesirable, e.g. cigarettes, drugs, handguns, or extremist political parties. 

CONVERSIONAL MARKETING

is the difficult task of reserving negative demand, e.g. for dental work, or hiring disabled people. 

STIMULATIONAL MARKETING

is necessary where there's no demand, which often happens with new products and services. 

DEVELOPMENTAL MARKETING

involves developing a product or service for which there is clearly a talent demand, e.g. a non-polluting and fuel-efficient car. 

SYNCHROMARKETING

involves altering the times pattern of irregular demand, e.g. for public transport between rush hours, or for ski resorts in the summer. 

REMARKETING

involves revitalizing falling demand, for example, for churches, inner city areas, or aging film stars. 

MAINTENANCE MARKETING

is a matter of retaining a current (may be full) level of demand, in the face of competition or changing tastes. 

DEMARKETING

is the attempt (by government rather than private businesses) to reduce overfull demand, permanently or temporarily, e.g. for some roads and bridges during rush hours. 

launch a product

Market Research

involves collecting, analyzing and reporting data relevant to specific market situation (such as proposed new product)

brand

is a name, symbol or design (or some combination) identifying a product

Market Segmentation

means dividing a market into instinct groups of buyers who have different requirements or buying habits

Product Features

are attributes or characteristics of a product quality, price, reliability, etc.

trademark

a name or symbol that cannot be used by another producer

packaging

refers to wrappers and containers in which product are sold

product concept

is an idea for a new product, which is tested with target consumers before the actual product is developed

point of sale

mean places where goods are sold to the public- shops, stores, kiosks, market, stalls,and etc.

sale representative

is one who contacts exiting and potential customers and tries to persuade them to buy goods or services

value

reflects the sum of the perceived tangible and intangible benefits and cost to customer

satisfaction

reflects a person's judgments of a product's perceived performance in relationship to expectations