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