Marketing DSMs 9-14
vertical marketing system
A channel structure in which producers, wholesalers, and retailers act as a unified system.
a supermarket is
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
________________ is setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk
Cost-based pricing
__________ is based on a buyer's perceptions of value rather than on the seller's cost.
Customer value-based pricing
____________________is the first step in cost-based pricing
Designing a good product
_________________is the fourth steno in value-based pricing
Designing products to deliver the desired value at the target price
__________ is sending highly targeted, highly personalized, relationship-building marketing messages via email.
Email marketing
_______________ is the sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business.
Follow-up
______________has multiplied in recent years. The FBI's Internet Crime Complaint Center provides consumers with warnings and a convenient way to alert authorities to suspected violations.
Internet fraud
_______________ is building and maintaining relationships with legislators and government officials to influence legislation and regulation.
Lobbying
_________________is setting a low price for a new product in order to attract a large number of buyers and a large market share
Market-penetration pricing
__________ is creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
Omni-channel marketing
__________ refers to marketing via the internet using company websites, online advertising and promotions, email marketing, online video, and blogs.
Online marketing
____________ now account for close to 80% of all internet traffic
Online video
______________is a type of identity theft that uses deceptive emails and fraudulent online sites to fool users into divulging their personal data
Phishing
____________________is selling below cost with the intention for punishing a competitor or gaining higher long-run profits by putting competitors out of business
Predatory pricing
______________ is a function in which companies create and place newsworthy information in the news media to attract attention to a person, product, or service.
Press relations
_________________ is a measure of the sensitivity of demand to changes in price
Price elasticity
____________________is setting the price steps between various products in a product line based on cost differences between the products, consumer evaluations of different features, and competitors prices
Product line pricing
_______________ is an activity of public relations that involves the publicizing of specific products
Product publicity
_______________ is building good relations with the company's various publics by obtaining favorable publicity; building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Public relations
_______________ is a short-term incentive to encourage the purchase or sale of a product or service
Sales promotion
_________________is the second step in value-based pricing
Setting a target price to match the customers perceived value
__________is independent and commercial online communities where people congregate, socialize, and exchange views and information
Social media
_______________is using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts
Team selling
__________ is the internet version of word-of-mouth marketing: a website, video, email message, or other marketing event that is so infectious that customers will seek it out or pass it along to friends.
Viral marketing
Deciding on store atmosphere
__________ is/are an example of a product assortment and services decision.
conventional distribution channel
a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole
a shopping center is
a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
channel level
a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer
indirect marketing channel
a marketing channel containing one or more intermediary levels
a marketing channel is
a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user
______________is the fourth step in the digital marketing process
addressing public policy issues in digital marketing
________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
advertising
the _______________ is setting the promotion budget at the level management thinks the company can afford.
affordable method
during the _______________ step, the salesperson should know how to meet and greet the buyer and get the relationship off to a good start.
approach
limited-service wholesalers
are carriers such as cash-and-carry wholesalers, truck wholesalers, and drop shippers.
A ______________is an online journal where people post their thoughts, usually on a narrowly defined topic
blog
the purpose of persuasive advertising is to _______________
build selective demand
a _______________ is a sales promotion tool used to generate business leads, stimulate purchases, reward customers, and motivate sales people
business promotion
_________________ is setting a price for products that must be used along with a main product, such as blades or a razor and games for a video-game console.
captive-product pricing
Traditional direct marketing tools include __________.
catalog marketing
_______________ is the sales step in which a salesperson asks the customer for an order
closing
_______________ is when a company directly or indirectly compares its brand with one or more other brands.
comparative advertising
the _______________ is setting the promotion budget to match competitors' outlays.
competitive-parity method
contractual vertical marketing system
consists of independent firms at different levels of production and distribution joining together through contracts
a_______________ is a sales promotion tool used to boost short-term customer buying and involvement or enhance long-term customer relationships.
consumer promotion
administered vertical marketing system
coordinates successive stages of production and distribution through the size and power of one of the parties
As a first step in conducting online marketing, most companies __________.
create a website
a _________is a sales force organization in which salespeople specialize in selling only to certain customers or industries
customer sales force structure
Using VMI (vendor-managed inventory), __________.
customer shares real-time data on sales and current inventory levels with the supplier
A ____________________ shows the number of units the market will buy in a given time period, at different prices that might be charged.
demand curve
___________________is the third step in value based pricing
determining costs that can be incurred
A(n) __________ is a detailed, nuanced, and tangible representation of prototypical consumers to be targeted by a digital marketing campaign.
digital consumer persona
_________refers to creating a brand-marketing event or serving as a sole or participating sponsor of events created by others
event marketing
the _______________ created an imaginary situation around the product or its use.
fantasy style
Understanding digital marketing is the __________ in the digital marketing process.
first step
_________________ are the costs that so not vary with production or sales level
fixed costs
exclusive distribution
giving a limited number of dealers the exclusive right to distribute the company's products in their territories
_______________ is the sales step in which a sales person seeks out, clarifies, and overcomes any customer objections to buying
handling objections
A(n) __________ is an app like Hypetap and Klout that uses people that can positively impact the market for their new products and services.
influence platform
An _______________conducts business from their offices via phone, online and social media interactions, or visits from buyers
inside sales force
omni-channel marketing
integrated all available shopping channels and devices into a seamless customer shopping experience
________________ is perhaps the most challenging public policy issue now confronting the digital marketing industry
invasion of privacy
horizontal marketing system
is a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.
franchise
is a contractual association between business people who sell (and buy) the right to own and operate one or more business units
a direct marketing channel
is a marketing channel that has no intermediary levels.
a service retailer
is a retailer whose product line is actually a service; examples includes hotels, airlines, banks, and colleges.
retailing
is all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
Disintermediation
is the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by new intermediaries.
the _______________ shows how a product fits in with a particular way of life.
lifestyle style
Supply Chain Management
managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers
the new product pricing strategy of _________________ means the initial price is set high
market-skimming pricing
______________is marketing messages, promotions, and other content delivered to on-the-go consumers
mobile marketing
the _______________ show people or cartoon characters singing about the product
musical style
the _______________ is developing the promotion budget by 1) defining specific promotion objectives; 2) determining the taste needed to achieve these objectives, and 3) estimating the costs of performing these tasks.
objective-and-task method
______________ is advertising that appears while consumers are browsing online, including display ads, search-related ads, online classifieds, and other forms
online advertising
Companies often post______________ on brand websites and on social media
online videos
The _______________ is setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price
percentage-of-sales method
Third-party logistics (3PL) provider
performs any or all of the functions required to get a client's product to market
Most legitimate marketers now practice __________, sending email pitches only to customers who "opt in."
permission-based email marketing
_______________is a personal presentation by the firm's sales force for the purpose of making sales and building customer relationships
personal selling
Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning is an example of a __________.
place decision
marketing logistics
planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit
the _______________ step is when a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems
presentation step
_________________ is the amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service
price
Deciding on either high markups on lower volume or low markups on higher volume is an example of a __________.
price decision
Deciding on store atmosphere is an example of a __________.
product assortment and services decision
A _________________ is a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines
product sales force structure
advertising, personal selling, sales promotion, public relations and direct marketing are all considered
promotion decisions
full-service wholesalers
provide a complete line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance
with _________________ the price is used to say something about the product
psychological pricing
a _______________ is a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product.
pull strategy
A_______________is a promotion strategy that calls for using the sales force and trade promotion to move the product through channels.
push strategy
a department store is a _____________.
retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers.
a ______________ is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts
retailer cooperative
_______________ refers to analyzing, planning, implementing and controlling sales force activities.
sales force management
A ______________ is a short term incentive used to encourage the purchase or sales of a product or service
sales promotion
A _______________ represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building
salesperson
marketing channel management
selecting, managing, and motivating individual channel members and evaluating their performance over time
Wholesale merchants
sell primarily to retailers and provide a full range of services
whole sale merchants
sell primarily to retailers and provide a full range of services
industrial distributor
sell to manufacturers rather than to retailers
industrial distributors
sell to manufacturers rather than to retailers
The_______________ focuses on the goal of getting new customers, obtaining orders from them, and opening time maintaining existing accounts and building long-term customer relationships.
selling process
The _______________ shows one or more "typical" people using the product in a normal setting
slice of life style
a convenience store is a
small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high- turnover convenience goods
______________is unsolicited, unwanted commercial email messages
spam
intensive distribution
stocking the product in as many outlets as possible
A superstore is a __________.
store that offers a large assortment of routinely purchased food products, nonfood items, and services
____________________is pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met.
target costing
A(n) _____________ is a sales force organization that assigns each salesperson to an exclusive geographic area in which that salesperson sells the company's full line.
territorial sales force structure
integrated logistics management
the logistics concept that emphasizes teamwork - both inside the company and among all the marketing channel organizations - to maximize the performance of the entire distribution system
selective distribution
the use of more than one but fewer than all of the intermediaries that are willing to carry the company's products
________________are the sum on the fixed and variable costs for any given level of production.
total costs
a_______________is a sales promotion tool used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to customers
trade promotion
a corporate chain is
two or more outlets that are commonly owned and controlled
a multichannel distribution system
uses a single firm to set up two or more marketing channels to reach one or more customer segments
____________________is attaching features and services to differentiate a company's offers and charging higher prices
value-added pricing
_________________are the costs that vary directly with the level of production
variable costs
a voluntary chain is a (n)____________.
wholesaler-sponsored group of independent retailers engaged in group buying and merchandising