Marketing 5

commission merchant

An agent that receives goods on consignment from local sellers and negotiates sales in large, central markets is called

when marginal cost equals marginal profits

At what point does a firm maximize profit?

dealer loader

a gift to a retailer who purchases a specified quantity of merchandise.

direct selling

gives the marketer an opportunity to demonstrate the product in an environment where it most likely would be used

Television home shopping

permits products to be easily demonstrated and allows for sufficient time to make viewers well informed about the products.

status quo

pricing objective can reduce a firm's risk by helping to stabilize demand for its products

advertising agencies

provide businesses with copywriters, artists, production coordinators, media experts, researchers, and other highly skilled specialists.

Native advertising

Digital advertising that matches the appearance and purpose of the content in which it is embedded

Introduction

During which stage of the product life cycle is pioneer advertising most appropriate?

downward sloping to the right

For most firms in the United States, demand curves are

involves a case discount if paid within 10 days

If the terms of a business exchange are 2/10 net 30, this means that the transaction

limited-service wholesalers

Merchant wholesalers who specialize in just a few functions and pass others along to other intermediaries or customers

geographic pricing

Reductions for transportation and other costs related to the physical distance between buyer and seller are known as

off-price retailers

Stores that buy manufacturers' seconds, overruns, returns, and off-season production and sell these products at below wholesale prices, are called

competitive advertising

attempts to stimulate demand for a specific brand by promoting the brand's features, uses, and advantages, perhaps through direct or indirect comparison with rival brands.

market share objective

can be used effectively whether total industry sales are rising or falling

price competition

emphasizing price as an issue and matching or beating competitors' prices

team selling

involves a salesperson joining with people from the firm's financial, engineering, and other functional areas?

markup pricing

the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for

Prospecting

the sales step in which a salesperson or company identifies qualified potential customers