Marketing 400 unit 4
intertype competition
consists of competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.
scrambled merchandising
consists of offering several unrelated product lines in a single store.
sales management
consists of planning the selling program and implementing and evaluating the personal selling effort of the firm.
personal selling process
consists of sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up.
off-price retailing
consists of selling brand-name merchandise at lower than regular prices.
dynamic pricing
the practice of changing prices for products and services in real time in response to supply and demand conditions.
category killers
Best Buy, staples, barnes and Nobel
a business-oriented website that lets users post their professional profiles to connect to a network of businesspeople.
product placement
a consumer sales promotion tool that uses a brand-name product in a movie, television show, video game, or a commercial for another product.
public relations
a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other public about a company and its products or services.
hypermarket
a form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location.
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.
a pinboard-style photo- and content-sharing website.
direct marketing
a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet.
gross rating points (GRPs)
a reference number used by advertisers that is obtained by multiplying reach (expressed as a percentage of the total market) by frequency.
strip mall
a retail location that consists of a cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive.
community shopping center
a retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute drive.
need-satisfaction presentation
a sales presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers.
sales promotion
a short-term inducement of value offered to arouse interest in buying a product or service.
a social networking service that allows users to upload photos and videos that can be edited with filters, organized with tags and location information, and shared publicly or with approved followers.
YouTube
a video-sharing website in which users can upload, distribute, view, and comment on videos.
8 second rule
a view that customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds.
a website that enables users to send and receive "tweets," messages up to 280 characters long.
a website where users may create a personal profile, add other users as friends, and exchange comments, photos, videos, and "likes" with them.
limited service agency
advertising agencies that specialize in one aspect of the advertising process, such as providing creative services to develop the advertising copy, buying previously unpurchased media space, or providing Internet services.
full-service agency
an advertising agency that provides the most complete range of services, including market research, media selection, copy development, artwork, and production.71 © McGraw Hill LLC
cross-channel consumer
an online consumer who researches offerings online and then purchases them at a retail store, or researches in store and then purchases online.
Advertising
any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.
cookies
computer files that a marketer can download onto the computer and mobile phone of an online shopper who visits the marketer's website.
assumptive close
consider choices for delivery, warrarnty
social media
consist of online media where users submit comments, photos, and videos—often accompanied by a feedback process to identify "popular" topics
in-house agencies
consist of the company's own advertising staff, who may provide full services or a limited range of services.
retailing
consists of all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use
retailing mix
consists of the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise
personal selling
consists of the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's, or group's purchase decision.
telemarketing
consists of using the telephone to interact with and sell directly to consumers.
7 C's of website design
context, commerce, connection, communication, customization, community, content
self service
customers perform functions
merchandise line
describes how many different types of products a store carries and in what assortment.
breadth of product line
describes the variety of different product items a store carries.
form of ownership
distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
apps
downloadable software programs that can run on smartphones and tablet devices. Also called mobile apps or applications.
bots
electronic shopping agents or robots that comb websites to compare prices and product or service features.
urgency close
emphasize importance of timeliness
pioneering advertising
explains the product
message appeals
fear, sex, humor
personalization
he consumer-initiated practice of generating content on a marketer's website that is custom tailored to an individual's specific needs and preferences.
what is IMC
integrated marketing communications
choiceboard
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.
pull strategy
involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product.
push strategy
involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product.
stimulus-response presentation
is a sales presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy.
formula selling presentation
is a sales presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect.
level of service
is the degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.
interactivity with customers
listen and respond
60% mall of America shoppers
locals
trail close
make decision on some aspect of the purchase
depth of product line
means that the store carries a large assortment of each product item.
publicity tools
methods of obtaining nonpersonal presentations of an organization, product, or service without direct cost, such as news releases, news conferences, and public service announcements.
rating
the percentage of households in a market that are tuned to a particular TV show or radio station.
relationship selling
the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time.
collaborative filtering
process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases.
order taker
processes routine orders or reorders for products that were already sold by the company.
competitive advertising
promotes brands special features
full service
provide full services to customers
limited service
provide some services
reminder
reinforces previous knowledge of product
regional shopping centers
retail locations that consist of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores.
trade-oriented sales promotions
sales tools used to support a company's advertising and personal selling directed to wholesalers, distributors, or retailers. Also called trade promotions.
order getter
sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service.
social media marketing program
that portion of a company's integrated marketing communication effort to create and deliver compelling online media content that attracts viewer attention and encourages readers to share it with their social network.
frequency
the average number of times a person in the target audience is exposed to a message or an advertisement.
promotional mix
the combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them to try it, and (3) remind them later about the benefits they enjoyed by using the product.
Integrated marketing communications
the concept of designing marketing communications programs that coordinate all promotional activities—advertising, personal selling, sales promotion, public relations, and direct marketing—to provide a consistent message across all audiences.
cost per thousand (CPM)
the cost of reaching 1,000 individuals or households with the advertising message in a given medium (M is the Roman numeral for 1,000).
customer engagement
the degree and depth of brand-focused interactions a customer choose to perform online with his or her friends.
customization
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.
reach
the number of different people or households exposed to an advertisement.
traffic generation
the outcome of a direct marketing offer designed to motivate people to visit a business.
influencer marketing
the practice of focusing on the identification and recruitment of influencers to advocate a company's products, services, and brands rather than focusing exclusively on prospective buyers
partnership selling
the practice whereby buyers and sellers combine their expertise and resources to create customized solutions, commit to joint planning, and share customer, competitive, and company information for their mutual benefit, and, ultimately, the benefit of the customer. Also called enterprise selling.
lead generation
the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information.
direct orders
the result of a direct marketing offer that contains all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction.
hierarchy of effects
the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action that includes awareness, interest, evaluation, trial, and adoption.
permission marketing
the solicitation of a consumer's consent (called "opt-in") to receive e-mail and advertising based on personal data supplied by the consumer.
online consumers
the subsegment of all Internet users who employ this technology to research products and services and make purchases.
interactive marketing
the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.
personal selling
the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision.
social shopping
the use of social network services and websites by consumers to share their latest purchases, deals, coupons, product reviews, want lists, and other shopping finds with friends and contacts.
social commerce
the use of social networks for browsing and buying.
40% mall of America shoppers
tourists
individuality
treat customers and individuals
behavioral targeting
uses information provided by cookies for directing online advertising from marketers to those online shoppers whose behavioral profiles suggest they would be interested in such advertising.
