Business Chapter 12

Publicity

Non-personal communication transmitted through the mass media but not paid for directly by the firm

Business Products

Products that are used directly or indirectly in the operation or manufacturing processes of businesses

Generic Products

Products with no brand name that often come in simple packages and carry only their generic name

Discounts

Temporary price reductions, often employed to boost sales

Exclusive Distribution

The awarding by a manufacturer to an intermediary of the sole right to sell a product in a defined geographic territory

Quality

The degree to which a good, service, or idea meets the demands and requirements of customers.

Warehousing

The design and operation of facilities to receive, store, and ship products

Packaging

The external container that holds and describes the product

Commercialization

The full introduction of a complete marketing strategy and the launch of the product for commercial success

Materials Handling

The physical handling and movement of products in warehousing and transportation

Labeling

The presentation of important information on a package

Branding

The process of naming and identifying products

Transportation

The shipment of products to buyers

Promotional Positioning

The use of promotion to create and maintain an image of a product in buyers' minds

Pull Strategy

The use of promotion to create consumer demand for a product so that consumers exert pressure on marketing channel members to make it available

Trademark

A brand that is registered with the U.S. Patent and Trademark office and is thus legally protected from use by any other firm

Consumer Products

products intended for household or family use

Intensive Distribution

A form of market coverage whereby a product is made available in as many outlets as possible

Selective Distribution

A form of market coverage whereby only a small number of all available outlets are used to expose products

Product Line

A group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use consideration.

Marketing Channel

A group of organizations that moves products from their producer to customers; also called a channel of distribution

Penetration Price

A low price designed to help a product enter the market and gain market share rapidly

Advertising

A paid form of non personal communication transmitted through a mass medium, such as television commercials or magazine advertisements.

Test Marketing

A trial mini launch of a product in limited areas that represent the potential market

Physical Distribution

All the activities necessary to move products from producers to customers - inventory control, transportation, warehousing, and materials handling

Product mix

All the products offered by an organization

Push Strategy

An attempt to motivate intermediaries to push the product down to their customers

Manufacturer Brands

Brands initiated and owned by the manufacturer to identify products from the point of production to the point of purchase

Private Distributor Brands

Brands, which may cost less than manufacturer brands, that are owned and controlled by a wholesaler or retailer

Price Skimming

Charging the highest possible price that buyers who want the product will pay

Integrated Marketing Communications

Coordinating the promotion mix elements and synchronizing the promotion as a unified effort

Advertising Campaign

Designed a series of advertisements and placing them in various media to reach a particular target

Sales Promotion

Direct inducements offering added value or some other incentive for buyers to enter into an exchange

Personal Selling

Direct, two-way communications with buyers and potential buyers

Psychological Pricing

Encouraging purchases based on emotional rather than rational responses to the price

Wholesalers

Intermediaries who buy from producers or from other wholesalers and sell to retailers

Retailers

Intermediaries who buy products from manufacturers and sell them to consumers for home and household use rather than for resale or for use in producing other products