Marketing Final (16-20)

o Unique selling proposition USP:

Another common strategy differentiates a product by establishing its unique benefits; this distinction forms the basis for this or the value proposition which is often the common theme or slogan in an advertising campaign; a good one communicates the unique attributes of the product and thereby becomes a snapshot of the entire campaign

Chapter 20

Chapter 20 · The Scope and Nature of Personal Selling

The personal selling process: successful salespeople must follow several steps; might not use every step, and time required varies with situation Step 1: Generate and Qualify Leads o Step 2: preapproach and the use of CRM systems o Step 3: Sales presentation and overcoming reservations Step 4: Closing the sale = o Step 5: Follow Up

The personal selling process: successful salespeople must follow several steps; might not use every step, and time required varies with situation Step 1: ___________ and Qualify ___________ o Step 2: ___________ and the use of ___________ systems o Step 3: Sales ___________ and overcoming ___________ Step 4: ___________ the sale o Step 5: ___________ Up

· Responsiveness.

The salesperson and support group must be ready to deal quickly with any issue, question, or problem that may arise.

· Empathy.

The salesperson and support group must have a good understanding of the problems and issues faced by their customers. Otherwise, they cannot give them what they want.

o Personal Selling as a Career: personal or professional selling can be a satisfying career for several reasons none from here § First, many people love the lifestyle; salespeople are typically out on their own, although they occasionally work with their managers and other colleagues, salespeople tend to be responsible for planning their own days; allows for flexible balance between work and family § Second, the variety in the job often attracts people to sales; every day is different, bringing different clients and customers, often in a variety of places § Third, professional selling and sales management can be a very lucrative career; sales is among the highest paying careers for college gradutes and compensation often includes perks such as the use of a company car or bonuses for high performance § Fourth, because salespeople are the frontline emissaries for their firms, they are very visible to management

WONT ASK o Personal Selling as a Career: personal or professional selling can be a ___________ career for several reasons none from here § First, many people love the lifestyle; salespeople are typically out on their own, although they occasionally work with their managers and other colleagues, salespeople tend to be responsible for planning their own days; allows for flexible balance between work and family § Second, the variety in the job often attracts people to sales; every day is different, bringing different clients and customers, often in a variety of places § Third, professional selling and sales management can be a very lucrative career; sales is among the highest paying careers for college gradutes and compensation often includes perks such as the use of a company car or bonuses for high performance § Fourth, because salespeople are the frontline emissaries for their firms, they are very visible to management

§ Distribution center =

a facility for the receipt, storage, and redistribution of goods to company stores, may be operated by retailers, manufacturers, or distribution specialists

o Horizontal channel conflict -

can also occur when there is disagreement or discord among members at the same level in a marketing channel, such as two competing manufacturers (retailer to retailer), ex causes: geographic expansion, dual ditribution

· Mass media=

channels include outdoor/billboards, newspapers, magazines, radio, and television and are ideal for reaching large numbers of anonymous audience members

§ The objective and task method -

determines the budget required to undertake specific tasks to accomplish communication objectives; to use this method, marketers first establish a set of communication objectives, then determine which media best reach the target market and how much it will cost to run the number and types of communications necessary to achieve the objectives; this process (set objectives, choose median and determine costs) must be repeated for each product or service; the sum of all the indiv communication plan budgets becomes the firms total marketing communications budgets become the firms total marketing communications budge

o Mobile marketing -

is marketing through wireless handheld devices such as cellular telephones; smartphones have become far more than tools to place calls; they offer a kind of mobile computer with the ability to obtain sports scores, weather, music, videos, and text messages as well as purchase merchandise

o Public relations PR -

is the organizational function that manages the firms communications to achieve a variety of objectives, including building and maintaining a positive image handling or heading off unfavorable stories or events and maintaining positive relationships with the media; this tactic is relatively passive in that customers do not have to take any action to receive it; these activities support the other promotional efforts by the firm by generating free media attention

o Aided recall -

is when consumers indicate they know the brand when the name is presented to them

§ Exclusive distribution -

manufacturers also might use this policy by granting to specific geographic territories to one or very few retail customers so that no other retailers in the territory can sell a particular brand; can benefit manufacturers by assuring them that the most appropriate retailers represent their products; luxury good firms believe selling products to full line or off price retailers would weaken its image

o Sales force structure: § Company sales force or manufacturer's representative

o Sales force structure: § ___________or ___________

o Step 4: convey the message § In this step marketers determine what they want to convey about the product or service; first determine key message, second decide what appeal most effectively would convey message; ___________

o Step 4: convey the ___________ § In this step marketers determine ___________ they want to convey about the product or service; first determine key ___________, second decide what ___________ most effectively would convey message;

§ Preapproach -

occurs prior to meeting the customer for the first time and extends the qualification of leads procedures described in Step 1; although the salesperson has learned about the customer during the qualification stage, in this step he or she must conduct additional research and develop plans for meeting with the customer

· Relationship selling -

refers to a sales philosophy and process that emphasizes a commitment to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to all parties; relationship oriented salespeople work with their customers to find mutually beneficial solutions to their wants and needs

§ Inbound marketing -

salespeople curate blogs to draw in customers and generate leads, this process is known as this

· Independent agents or manufacturers' representatives or reps -

salespeople who sell a manufacturers products on an extended contract basis but are not employees of the manufacturer; they are compensated by commissions and do not take ownership or physical possession of the merchandise; useful for smaller firms or firms expanding into new markets because such companies can achieve instant and extensive sales coverage without having to pay full time personnel

· Retailing -

set of business activities that add value to products and services sold to consumers for their personal or family use ; includes products bought at stores, through catalogs, and over the internet, as well as services such as fast food restaurants, airlines, and hotels

o Channel member characteristics:

several factors pertaining to the these ppl themselves; help determine the channel structure; generally the larger and more sophisticated they are, the less likely that it will use supply chain intermediaries

§ Telemarketing -

similar to a cold call, but it always occurs over the telephone; sometimes professional telemarketing firms rather than the firms salespeople make such calls

§ Fulfillment centers -

similar to a distribution center, instead of shipping to stores; used to ship directly to customers; furthermore, advertising and promotion must be coordinated with those departments that control inventory and transportation

o Sales promotions -

special incentives or excitement building programs such as coupons, rebates, contests, free samples, and point of purchase POP displays, that encourage the purchase of a product or service; marketers typically design these incentives for use in conjunction with other advertising or personal selling programs; many such as free samples or POP displays are designed to build short term sales; others such as contests and sweepstakes, have become integral tactics of some firms CRM programs as a means to build customer loyalty

· Choosing retailing partners :

when doing this, manufacturers look at the basic channel structure, where their target customers expect to find the products, channel member characteristics and distribution intensity ; most manufacturers use these to undertake partnerships that create value by pulling together all the actions necessary for the greatest possible customer convenience and satisfaction;

§ Salespeople don't always get the best coverage in popular media

§ Salespeople don't always get the best ___________ in popular ___________

· Importance of marketing channel/supply chain management: o Convincing wholesalers and retailers to carry new products can be more difficult than you might think ________

· Importance of marketing channel/supply chain management: o Convincing ________ and ________ to carry ________ products can be more ________ than you might think

· Steps in Planning and Executing an Ad Campaign o Step 1: Identify target audience o Step 2: Set advertising objectives o Step 3: determine the advertising budget o Step 4: convey the message o Step 5: evaluate and select media o Step 6: create advertisements o Step 7: assess impact using marketing metrics ___________

· Steps in Planning and Executing an Ad Campaign o Step 1: Identify target ___________ o Step 2: Set advertising ___________ o Step 3: determine the advertising ___________ o Step 4: convey the ___________ o Step 5: ___________ and select ___________ o Step 6: ___________ advertisements o Step 7: assess ___________ using marketing ___________

· Available budget -

Marketers forecast their sales and expenses, excluding communication, during the budgeting period. The difference between the forecast sales and expenses plus desired profit is reserved for the communication budget. That is, the communication budget is the money available after operating costs and profits have been budgeted. Limitations : Assumes communication expenses do not stimulate sales and profit.

· The subhead -

a smaller headline provides more info about what it is selling

· Desire-

after the firm has piqued the interest of its target market, the goal of subsequent IMC messages should move the consumer to I like it to I want it

§ Feedback loop =

allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly

§ Trade shows -

also offer an excellent forum for finding leads; these major events are attended by buyers who choose to be exposed for products and services offered by potential suppliers in an industry

§ Agent or broker -

any intermediary with legal authority to act on behalf of the manufacturer

§ Cold calls -

are a method of prospecting in which salespeople telephone or go to see potential customers without appointments

§ Push strategies -

are designed to increase demand by focusing on wholesalers, retailers, or salespeople; these campaigns attempt to motivate the seller to highlight the product rather than the products of competitors and thereby push the product to consumers

· Company sales force -

comprises people who are employees of the selling company

§ Independent (conventional) marketing channel -

attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members; no one has control over the other § None of the participants have any control over the others; before any sort of relationship develops, or in one time interactions, both parties likely try to extract as much profit from the deal as possible; after deal consummated neither party feels any responsibility to the other § Over time. Many parties develop relationships marked by routinized, automatic transactions

§ Informative advertising -

communication used to create and build brand awareness with the ultimate goal of moving the consumer through the buying cycle to a purchase ; such advertising helps determine some important early stages of a products life cycle, particularly when consumers have little information about the specific product or type of product; retailers often use to tell their customers about an upcoming sales event or the arrival of new merchandise

§ Place =

convenience is a key ingredient to success and an important aspect of this success is convenient locations; in pursuit of better locations, retailers are experimenting with different options to reach their target markets

§ Intensive distribution strategy -

designed to place products in as many outlets as possible ; most consumer packaged goods companies strive for and often achieve this ; more exposure the products get the more they sell

§ Pull strategy -

generally in advertising to consumers this is the objective; in which the goal is to get consumers to pull the product into the marketing channel by demanding it

§ Power-

in a marketing channel exists when one firm has the means or ability to dictate the actions of another member at a different level of distribution

§ Tracking -

includes monitoring key indicators such as daily or weekly sales volume while the advertisement is running to shed light on any problems with the message or medium

· Percentage-of-sales -

The communication budget is a fixed percentage of forecasted sales; limitations.: Assumes the same percentage used in the past, or by competitors, is still appropriate for the firm. Does not take into account new plans (e.g., to introduce a new line of products in the current

· Message:

provides the target audience with reasons to respond in the desired way; a logical starting point for deciding on the advertising this is to tout the key benefits of the product or service ; this should communicate its problem solving ability clearly and in a compelling fashion; in this context advertisers must remember that products and services solve problems, whether real or perceived

retailers

sell products directly to consumers (ex. Walmart massive retailer)

o The lagged effect -

sometimes consumers don't act immediately after receiving a form of marketing communications because of this; § Def - a delayed response to a marketing communications campaign; it generally takes several exposures to a campaign before a consumer fully processes its message ; in turn, measuring the effect of a current campaign becomes more difficult because of the possible lagged response to a previous one

o Viral marketing program -

is one that encourages people to pass along a marketing message to other potential consumers ; to keep track of sales it relied on walmarts internet based retail link system; finally brown betty dessert boutique as well as all of walmarts suppliers agreed to adhere to strict packaging, labeling, and shipping requirements

§ Posttesting -

is the evaluation of the campaign's impact after it has been implemented; at this last stage, advertisers assess the sales and/or communication impact of the advertisement or campaign

§ The communication channel =

is the medium - print, broadcast, the internet, and so forth - that carries the message

o Personal Selling -

is the two way flow of communication between a buyer or buyers and a seller designed to influence the buyers purchase decision; can take place in various situations, face to face, via video teleconferencing, on the telephone, or over the internet

· Media mix-

the combination of the media used and the frequency of advertising in each medium

· Competitive parity -

the communication budget is set so that the firms share of communication expenses equals its share of the market. ; limitations - Does not allow firms to exploit the unique opportunities or problems they confront in a market. If all competitors use this method to set communication budgets, their market shares will stay approximately the same over time.

o Channel structure:

level of difficulty a manufacturer experiences in getting retailers to purchase its products is determined by the degree to which the channel is vertically integrated; the degree to which the manufacturer has a strong brand or is otherwise desirable in the market and the relative power of the manufacturer and retailer

o Direct marketing -

marketing that communicates directly with target customers to generate a response or transaction; contains a variety of traditional and new forms of marketing communications initiatives; traditional includes mail and catalogs sent through the mail; also includes email and mobile marketing ;

§ Encoding =

means converting the senders ideas into a message which could be verbal, visual or both

Closing the sale =

means obtaining from the customer to make a purchase; without a successful this, the salesperson goes away empty handed, so many salespeople who are involved in a relationship with their customers must view any specific sales presentation as part of the progression toward ultimately making the sale or building the relationship; an unsuccessful this on one day may just be a means of laying the ground work for a successful this during the next meeting

§ Role playing -

often a good idea to practice the presentation prior to the meeting, using this technique; when the salesperson acts out how a simulated buying situation while a colleague or manager acts as the buyer; afterward, can be critiqued and adjustments can be made

§ The Presentation:

once all background info has bene obtained and the objectives for the meeting are set, the salesperson is ready for a person to person meeting; § ex 20.2 p 606

· Advertising -

paid form of communication delivered through media from an identifiable source about an organization, product, service, or idea designed to persuade the receiver to take some action now or in the future ; not free; someone has paid, with money, trade, or other means to get the message shown; advertising might be carried by some medium; TV, radio, print, the web, T-shirts, sidewalks, and so on; legally the source of the message must be known or knowable; advertising represents a persuasive form of communication designed to get the consumer to take some action

· The headline -

the large type in an ad that is designed to draw attention

o Distribution intensity:

the number of channel members to use at each level of the marketing channel; commonly is divided into three levels; intensive, exclusive and selective ; when setting up distribution for the first time or introducing a new product line

§ The receiver =

the person who reads, hears, or sees and processes the information contained in the message and/or advertisement

· Action -

the ultimate goal of any form of marketing communications is to drive the receiver to this; as long as the message has caught consumers attention and made them interested enough to consider the product as a means to satisfy a specific desire of theirs, they likely will act on that interest by either searching for the product or making a purchase

§ Administered vertical marketing system -

there is no common ownership or contractual relationships, but the dominant channel member controls or holds the balance of power; coordination achieved at different stages various marketing channel relationships offer examples of different forms;

§ Sender =

where the message originates, who must be clearly identified to the intended audience

o Personal selling -

two way flow of communication between a buyer and a seller that is designed to influence the buyers purchase decision; can take place in various settings: face to face, video teleconferencing, on the telephone, or over the internet; although consumers don't often interact with professional salespeople, personal selling represents an important cannel in many IMC programs in B2B settings

Assurance.

Customers must be assured through adequate guarantees that their purchase will perform as expected.

· The body copy -

represents the main text portion of the ad; it is used to build on the interest generated by the visual and headlines, explains in more depth what the headline and subheads introduced , arouses desire for the product, and provides enough information to move the target consumer to action

· Integrated marketing communications IMC -

represents the promotion dimension of the 6 Ps; it encompasses a variety of communication disciplines - channels of this strategy include advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media- in combination to provide clarity consistency and maximum communicative impact ; these programs regard each of the firms marketing communications channels as part of a whole, each of which offers a different means to connect with the target audience

o Customer expectations:

retailers should also know customer preferences regarding manufacturers; manufacturers in contrast need to know where their target market customers expect to find their products and those of their competitors

· Reliability:

the salesperson and the supporting organization must deliver the right product or service on time.

§ Rule of thumb methods -

used to set budgets; use prior sales and communication activities to determine the present communication budget; although easy to implement, they have various limitations; clearly budgeting, not a simple process, may take several rounds of negotiations among the various managers, who are each competing for resources for their own areas of responsibility to devise a final IMC budget

o Vertical channel conflict-

when supply chain members that buy and sell to one another are not in agreement about their goals, roles, or rewards, this or discrord results (ex. Manufacturer to retailer); ex for cause, profit margin, not showing brand/products attention deserves, disintermediation

o Cause-related marketing

(commercial activity in which businesses and charities for a partnership to market an image, product, or service for their mutual benefit

· Market channel management or supply chain management -

, refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless, operation in which merchandise is produced and distributed in the right quantities to the right locations and at the right time as well as to minimize systemwide costs while satisfying the service levels their customers require

· Tangibles.

Because these reflect the physical characteristics of the seller's business, such as its website, marketing communications, and delivery materials, their influence is subtler than that of the other four service quality dimensions. That doesn't mean it is any less important. Retail customers are generally more pleased with a purchase if it is carefully wrapped in nice paper instead of being haphazardly thrown into a crumpled plastic bag. these offer a signal that the product is of high quality, even though the packaging has nothing to do with the product's actual performance.

o The AIDA model =

IMC not straightforward process, after being exposed to marketing communications, consumers go through several steps before actually biuing or taking some other actions § To create effective imc programs, marketers must understand how marketing communications work; generally marketing communications move consumers stepwise through a series of mental stages § Def: most common is this, which suggests that Awareness leads to Interest, which leads to Desire which leads to Action; at each stage the consumer makes judgements about whether to take the next step in the process; customers actually have 3 types of responses to this model is also known as the think, feel, do model; in making a purchase decision, consumers go through each of the steps to some degree, but the steps may not always follow the order

§ Media buy -

because this, the actual purchase of airtime or print pages, is generally the largest expense in the advertising budget, marketers must make their deciisons carefully; TV ads is by far the most expensive; to characterize these various types of media, we use dichotomy: mass and nice media

§ Vertical marketing system -

a marketing channel in which the members act as a unified system; more professionally managed; 3 types = administered, contractual, and corporate; reflect increasing phases of formalization and control - the more formal. The less likely conflict is to ensue

§ Persuasive advertising -

When a product has gained a certain level of brand awareness, firms use this to motivate consumers to take action; generally occurs in the growth and early maturity stages of the product life cycle, when competition is most intense, and attempts to accelerate the market's acceptance of the product. In later stages of the product life cycle, this may be used to reposition an established brand by this to consumers to change their existing perceptions of the advertised product.

§ Advertising plan -

a subsection of the firms overall marketing plan that explicitly analyzes the marketing and advertising situation, identifies the objectives of the advertising campaign, clarifies a specific strategy for accomplishing those objectives, and indicates how the firm can determine whether the campaign was successful; is crucial because it will later serve as the yardstick against which advertising success or failure is measured

· Brand elements -

ad typically has a number of these that identify the sponsor of the ad, typically through a logo and a unique selling proposition; thus the advertiser must convey its message using compelling visuals, headlines, body copy, and identifying these

§ Handling Reservations -

an integral part of the sales presentation is handling these ; although these can arise during each stage of the selling process, they are very likely to occur during the sales presentation; customers may raise these pertaining to a variety of issues, but they usually relate in some way to value, such as that the price is too high for the level of quality or service

o Event sponsorship -

another very popular PR tool; occurs when corporations support various activities (financially or otherwise), usually in the cultural or sports and entertainment sectors

§ Indirect with Wholesalers:

are more common when the company does not buy in sufficient quantities to make it cost effective for the manufacturer to deal directly with them - independent book sellers, wine merchants or independent drugstores for ex; they're also prevelant in less developed economies in which large retailers are rare

o Goals -

as with any strategic undertaking, firms need to understand the outcome they hope to achieve before they begin. these can be short term (such as generating inquiries, increasing awareness, and prompting trial), long term (increasing sales, market share, and customer loyalty); both short and long, should be explicitly defined and measured; regardless of their measures or changes, though, these constitute part of the overall promotional plan which is usually a subsection of the firms marketing plan; another part is the budget

§ Selective distribution -

between the intensive and exclusive distribution strategies; this relies on a few selected retail customers in a territory to sell products; similar to exclusive distribution, this helps a seller maintain a particular image and control the flow of merchandise into an area ; these advantages make this approach attractive to many shopping goods manufacturers; retailers still have a strong incentive to sell the products but not the same extent as if they had an exclusive territory

· Niche media =

channels are more focused and generally used to reach narrower segments, often with unique demographic characteristics or interests

§ strategic relationship or partnering relationship -

firms frequently seek this in which the marketing channel members are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial

Wholesalers -

firms that buy products from manufacturers and resell them to retailers;

· Public relations PR -

involves managing communications and relationships to achieve various objectives such as building and maintaining a positive image of the firm, handling or heading off unfavorable stories or events, and maintaining positive relationships with the media; in many cases these activities support other promotional efforts by generating free media attention and general goodwill

· Omnichannel or multichannel strategy -

involves selling in more than one channel (e.g. store, catalog, and internet); 4th factor therefore consists of examining the circumstances in which sellers may prefer to adopt a particular strategy;

o Sales management =

involves the planning, direction, and control of personal selling activities, including recruiting, selecting, training, motivating, compensating, and evaluating, as they apply to the sales force § this force is a rewarding yet complicated undertaking ; as marketing analytics reveals it also is dynamic and constantly shifting

§ Reminder advertising -

is a communication used to remind or prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycles. Such advertising certainly appears in traditional media, such as television or print commercials, but it also encompasses other forms of advertising.

Noise =

is any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; it poses a problem for all communication channels

o Advertising -

most visible of the IMC channels, entails the placement of announcements and persuasive messages in time or space purchased in any of the mass media by persuasive messages in time or space purchased in any of the mass media by business firms, nonprofit organizations, government agencies, and individuals who seek to inform and/or persuade members of a particular target market or audience about their products, services, organizations, or ideas; ; extremely effective for creating awareness of a product or service and generating interest; mass this can entice consumers into a conversation with marketers, thought it does not necessarily require much action by consumers which places it on the passive end of the spectrum

· Sales promotion -

natural link between this and advertising; are special incentives or excitement building programs that encourage consumers to purchase a particular product or service, typically used in conjunction with other advertising or personal selling programs; many, like free samples, or point of purchase displays, attempt to build short term sales; others such as loyalty programs, contests, and sweepstakes, have become integral components of firms long term customer relationship management CRM programs which they use to build customer loyalty

o Direct marketing channel -

no intermediaries between the buyer and seller; typically the seller is a manufacturer, such as when a carpentry business sells bookcases through its own store and online to individual consumers; seller can be individual, such as when a knitter sells blankets and scarves at craft fairs, on etsy and through ebay - when the buyer is another business, the marketing channel still is direct, but in this case the transaction is a business to business one § People increasingly use online channels to purchase consumer goods that it manufactures (e.g. diapers, detergent, paper towels).

o 3 elements in any IMC strategy: the consumer, the channels through which the message is communicated and the evaluation of the results of the communications § Second section examines the various communication channels that make up IMC arsenal and how each used in overall IMC strategy § 3rd section considers how the level of complexity in IMC strategies leads marketers to design new ways to measure the results of IMC campaigns

o 3 elements in any IMC strategy: the ___________, the ___________ through which the message is communicated and the ___________ of the results of the communications § Second section examines the various communication ___________ that make up IMC arsenal and how each used in ___________ IMC strategy § 3rd section considers how the level of ___________ in IMC strategies leads marketers to design new ways to measure the ___________ of IMC campaigns

o Channels of an IMC strategy: § Interactive and offline - personal selling, sales promotion (e.g. contests), direct marketing (e.g. telemarketing) § Interactive and online - direct marketing (e.g. mobile marketing), onlinr marketing (e.g. blogs, social media) § Passive and offline - advertising, sales promotions (e.g. coupons), public relations, direct marketing (e.g. catalogs) § Passive and online - direct marketing (e.g. email marketing)

o Channels of an IMC strategy: § Interactive and offline - ___________ selling, sales ___________ (e.g. contests), ___________ marketing (e.g. telemarketing) § Interactive and online - ___________ marketing (e.g. ___________ marketing), ___________ marketing (e.g. ___________, social ___________) § Passive and offline - ___________, sales ___________ (e.g. coupons), public ___________, ___________ marketing (e.g. catalogs) § Passive and online - ___________ marketing (e.g. ___________ marketing)

o Common goals also help sustain the relationship when expected benefits fail to rise o In the sense, partnership exhibits both of the nonmutually exclusive ways that exist to manage a marketing channel or supply chain: coordinate the channel using a vertical marketing system and develop strong relationships with marketing channel partners topics we now examine ________

o Common goals also help ________ the relationship when expected benefits ________ to rise o In the sense, partnership exhibits both of the ________ exclusive ways that exist to manage a marketing channel or supply chain: coordinate the channel using a ________ marketing system and develop ________ relationships with marketing channel partners topics we now examine

o Good PR has always been an important success factor; in recent years, the importance of PR has grown as the costs of other forms of marketing communications have increased; at the same time, the influence of PR has become more powerful as consumers have become increasingly skeptical of marketing claims made in other media o Firms often distribute PR toolkits to communicate with various audiences; some toolkit elements are designed to inform specific groups directly, whereas others are created to generate media attention and disseminate information

o Good _______ has always been an important success factor; in recent years, the importance of PR has ___________ as the costs of other forms of marketing communications have ___________; at the same time, the influence of PR has become more ___________ as consumers have become increasingly ___________ of marketing claims made in other media o Firms often distribute PR toolkits to communicate with various ___________; some toolkit elements are designed to inform specific groups directly, whereas others are created to generate media attention and disseminate information

o How consumers perceive communication - the actual communication process is not as simple as above model implies; each receiver may interpret the senders message differently, and senders often adjust their message according to the medium used and the receivers level of knowledge about the product or service ___________

o How consumers perceive communication - the actual communication process is not as simple as above model implies; each receiver may interpret the senders message ___________, and senders often adjust their ___________ according to the ___________ used and the receivers level of ___________ about the product or service

o Marketing channels add value - in a simple agrarian economy, the best supply chain likely does follow a direct route from manufacturer to consumer

o Marketing channels add value - in a simple agrarian economy, the best supply chain likely does follow a ______ route from ______ to ______

o Measuring success using marketing metrics - once a firm has decided how to set its budget for marketing communications and its campaigns have been developed and implemented, it reaches the point that it must measure the success of the campaigns using various marketing metrics ; each can measured to determine effectiveness ; challenging when marketing efforts include creative and new forms of communication ___________

o Measuring success using marketing ___________ - once a firm has decided how to set its budget for marketing communications and its campaigns have been developed and implemented, it reaches the point that it must ___________ the ___________ of the campaigns using various marketing ___________ ; each can measured to determine ___________ ; challenging when marketing efforts include ___________ and ___________ forms of communication

o Online marketing - websites, blogs, and social media § Websites - firms have increased their emphasis on communicating with custoemrs through their websites; use to build their brand image and educate customers about their products or services as well as where they can be purchased; retailers and some manufacturers sell merch directly to consumers over the internet ; many firms operate these devoted to community building ( an activity bringing together individuals with shared interests); offer an opportunity for customers with similar interests to learn about products and services that support their hobbies and share info with others § Blogs (weblog) - contains periodic posts on a common web page; a well received one can communicate trends, announce special events, create positive word of mouth, connect customers by forming a community, allow the company to respond directly to customers comments, and develop a long term relationship with the company; by nature its supposed to be transparent and contain authors honest observations which can help customers determine their trust and loyalty levels § Social media - refers to online and mobile technologies that distribute content to facilitate interpersonal interactions; 3 most popular are youtube facebook and twitter; consumers review, communicate about, and aggregate information about products, prices, and promotions; also allow users to interact among themselves as well as provide other like mided consumers and marketers their thoughts and evaluations about a firms products or services; help facilitate the consumer decision process by encouraging need recognition, info search, alternative eval, purchase and post purchase reviews ___________

o Online marketing - ___________, ___________, and ___________ § ___________ - firms have increased their emphasis on communicating with custoemrs through their ___________; use to build their brand image and educate customers about their products or services as well as where they can be purchased; retailers and some manufacturers sell merch directly to consumers over the internet ; many firms operate these devoted to ___________ ___________ ( an activity bringing together individuals with shared interests); offer an opportunity for customers with similar interests to learn about products and services that support their hobbies and share info with others § ___________ (___________) - contains periodic posts on a common web page; a well received one can communicate trends, announce special events, create positive word of mouth, connect customers by forming a community, allow the company to respond directly to customers comments, and develop a long term relationship with the company; by nature its supposed to be transparent and contain authors honest observations which can help customers determine their trust and loyalty levels § ___________ - refers to online and mobile technologies that distribute content to facilitate interpersonal interactions; 3 most popular are youtube facebook and twitter; consumers review, communicate about, and aggregate information about products, prices, and promotions; also allow users to interact among themselves as well as provide other like mided consumers and marketers their thoughts and evaluations about a firms products or services; help facilitate the consumer decision process by encouraging need recognition, info search, alternative eval, purchase and post purchase reviews

o Recruiting and selecting sales people: When the firm has determined how the sales force will be structured, it must find and hire salespeople; although superficially this task may sound as easy as posting the job opening on the internet or running an ad in the newspaper, it must be performed carefully because firms don't want to hire the wrong person; they are very expensive to train; companies must take care rto avoid biased practices such as hiring on the basis of stereotypes instead of qualifications ; most important activity in the recruiting process is to determine exactly what the salesperson will be doing and what personal traits and abilities a person should have to do the job well; many firms conduct individual and group assessments of candidates in which personality traits, among other criteria are evaluated , but different firms stress different personality attributes, depending on the requisite traits for the position and the personality characteristics of their most successful salespeople

o Recruiting and selecting sales people: When the firm has determined how the sales force will be __________, it must find and hire salespeople; although superficially this task may sound as easy as posting the job opening on the internet or running an ad in the newspaper, it must be performed carefully because firms don't want to hire the wrong person; they are very __________ to train; companies must take care rto avoid biased practices such as hiring on the basis of __________ instead of __________ ; most important activity in the __________ process is to determine exactly what the salesperson will be doing and what personal traits and abilities a person should have to do the job well; many firms conduct individual and group assessments of candidates in which __________ traits, among other criteria are evaluated , but different firms stress different __________ attributes, depending on the requisite traits for the position and the personality characteristics of their most successful salespeople

o Sales training - even people who possess all these personal traits need training; all salespeople benefit from training about selling and negotiating techniques, product and service knowledge, technologies used in the selling process, time and territory management, and company policies and procedures; firms use varied delivery methods to train their salespeople; a much less expensive, but for some purposes equally valuable, training method is the internet; online training programs have revolutionized the way training happens in many firms; firms can provide new product and service knowledge , spread the word about changes in company policies and procedures, and share selling tips in a user friendly environment that salespeople can access anytime and anywhere

o Sales training - even people who possess all these personal traits need __________; all salespeople benefit from training about __________ and __________ techniques, product and service __________, __________ used in the selling process, __________ and __________ management, and company __________ and __________; firms use varied delivery methods to train their salespeople; a much less expensive, but for some purposes equally valuable, training method is the __________; online training programs have revolutionized the way training happens in many firms; firms can provide new product and service __________ , spread the word about __________ in company policies and procedures, and share __________ tips in a user friendly environment that salespeople can access anytime and anywhere

o Setting and allocating the IMC budget - bc all the methods of setting a promotional budget have adv as well as disadv no one method should be used in isolation ___________

o Setting and allocating the IMC budget - bc all the methods of setting a promotional budget have ___________ as well as ___________ no ___________ method should be used in ___________

o Step 1: Generate and Qualify Leads: selling process is to generate a list of potential customer (leads) and assess their potential (qualify); salespeople who aready have an established relationship with a customer will skip this step, and it is not used extensively in retail settings; in B2B sitatuions however, it is important to work continually to find new and potentially profitable customers § Salespeople can generate and qualify leads in a variety of ways, they might discover potential leads by talking to current customers, doing research on the internet, or networking at events such as trade shows, industry conferences, or chamber of commerce meetings

o Step 1: Generate and Qualify Leads: selling process is to generate a list of ___________ customer (___________) and assess their potential (___________); salespeople who aready have an established relationship with a customer will ___________ this step, and it is not used extensively in ___________ settings; in ___________ sitatuions however, it is important to work continually to find new and potentially profitable customers § Salespeople can generate and qualify leads in a variety of ways, they might discover potential leads by talking to ___________ customers, doing ___________ on the internet, or ___________ at events such as trade shows, industry conferences, or chamber of commerce meetings

o Step 1: Identify target audience § The success of an advertising program depends on how well the advertiser can identify its target audience firms conduct research to identify their target audience, then use the information they gain to set the tone for the advertising program and help them select the media they will use to deliver the messaege to the audience; during this research, firms must keep in mind that their target audience may or may not be the same as current users of the product ___________

o Step 1: Identify target ___________ § The success of an advertising program depends on how well the advertiser can identify its ___________ ___________; firms conduct ___________ to identify their target audience, then use the information they gain to set the ___________ for the advertising program and help them ___________ the media they will use to ___________ the messaege to the audience; during this research, firms must keep in mind that their target audience may or may not be the same as ___________ users of the product

o Step 2: Set advertising objectives The objectives of an advertising campaign are derived from the overall objectives of the marketing program and clarify the specific goals that the ads are designed to accomplish ___________

o Step 2: Set advertising ___________ The objectives of an advertising campaign are derived from the overall ___________ of the marketing program and clarify the ___________ goals that the ads are designed to ___________

o Step 2: preapproach and the use of CRM systems

o Step 2: preapproach and the use of CRM systems

o Step 3: Sales presentation and overcoming reservations

o Step 3: Sales presentation and overcoming reservations

o Step 3: determine the advertising budget § The various budgeting methods for marketing communications also apply to budgeting for advertising; first firms must consider the role that advertising plays in their attempt to meet their overall promotional objectives. Second, advertising expenditures vary over the course of the product life cycle. Third, the nature of the market and the product influence the size of advertising budgets. The nature of the market also determines the amount of money spent on advertising. For instance, less money is spent on advertising in B2B (business-to-business) marketing contexts than in B2C (business-to-consumer) markets. ___________

o Step 3: determine the advertising budget § The various budgeting methods for marketing communications also apply to budgeting for advertising; first firms must consider the ___________ that advertising plays in their attempt to meet their overall promotional objectives. Second, advertising ___________ vary over the course of the product life cycle. Third, the ___________ of the market and the product ___________ the size of advertising budgets. The nature of the market also determines the amount of ___________ spent on advertising. For instance, less money is spent on advertising in ___________ (___________) marketing contexts than in ___________ (___________) markets.

o Step 5: Follow Up § With relationship selling, it is never really over, even after the sale is closed; the attitudes customers develop after the sale become the basis for how they purchase in the future; the follow up therefore offers a prime opportunity for a salesperson to solidify the customer relationship through great service quality; 5 service quality dimensions : reliability, responsiveness, assurance, empathy, tangibles

o Step 5: Follow Up § With relationship selling, it is never really over, even after the sale is ___________; the ___________ customers develop after the sale become the basis for how they ___________ in the future; the follow up therefore offers a prime opportunity for a salesperson to ___________ the customer relationship through great service ___________; 5 service quality dimensions: reliability, responsiveness, assurance, empathy, tangibles

o Step 5: evaluate and select media § The content of an advertisement is tied closely to the characteristics of the media that firms select to carry the message and vice versa Media planning- refers to the process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience

o Step 5: ___________ and ___________ media § The content of an advertisement is tied closely to the ___________ of the ___________ that firms select to ___________ the message and vice versa ___________- refers to the process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience

o Step 6: create advertisements § After advertiser decided on message, type of ad, and appeal, attention shifts to the actual creating of the advertisement; during this step, the message and appeal are translated creatively into words, pics, colors and or music; often the execution type for the ad will dictate the type of medium used to deliver the message; to demonstrate an image, advertisers can use TV and magazines; to promote price, use newspaper and radio; to appeal to target markets, use some of electronic media vehicles; when using multiple media to deliver same message, must maintain consistency across styles so different executions deliver a consistent and compelling message to target audience ; § Although creativity plays a major role in the execution stage, advertisers must remain careful not to let their creativity overshadow the message whatever the execution style, the advertisement must be able to attract the audience's attention, provide a reason for the audience to spend its time viewing the advertisement and accomplish what it set out to do

o Step 6: ___________ advertisements § After advertiser decided on message, type of ad, and appeal, attention shifts to the actual ___________ of the advertisement; during this step, the message and appeal are ___________ creatively into words, pics, colors and or music; often the execution type for the ad will dictate the type of ___________ used to deliver the message; to demonstrate an ___________, advertisers can use TV and magazines; to promote ___________, use newspaper and radio; to appeal to ___________ markets, use some of electronic media vehicles; when using multiple media to deliver same message, must maintain ___________ across styles so different executions deliver a consistent and compelling message to target audience ; § Although creativity plays a major role in the execution stage, advertisers must remain careful not to let their creativity ___________ the message whatever the execution style, the advertisement must be able to ___________ the audience's attention, provide a ___________ for the audience to spend its time viewing the advertisement and ___________ what it set out to do

o Step 7: assess impact using marketing metrics § The effectiveness of an advertising campaign must be assessed before, during, and after the campaign has brun § Measuring sales impact can be especially challenging because of the amny influences other than advertising on consumerschoices, purchase behavior, and attitudes; these influences include the level of competitors advertising, economic conditions in the target market, sociocultural changes, in store merchandise availability and even the weather; all of which can influence consumers purchasing behavior

o Step 7: assess ___________ using marketing ___________ § The ___________ of an advertising campaign must be assessed before, during, and after the campaign has brun § Measuring sales ___________ can be especially ___________ because of the many influences other than advertising on consumers choices, purchase behavior, and attitudes; these influences include the level of ___________ advertising, ___________ conditions in the target market, ___________ changes, in store merchandise ___________ and even the ___________; all of which can influence consumers purchasing behavior

o The value added by personal selling: benefits for salespeople means that hthey are expensive for firms; experts estimate that the average cost of a single B2B sales call is over $500; some firms have turned to the internet and tech to lower the costs of personal selling ; firms that use recognize the value it adds to their product or service mix § Salespeople provide information and advice: many customers find value in and are willing to pay for the education and advice that salespeople provide § Salespeople save time and simplify buying : time is money, customers perceive value in time and labor savings § Salespeople build relationships: building strong marketing channel relationships is critical success factors; most successful are those who build strong relationships with their customers

o The value added by personal selling: benefits for salespeople means that hthey are ___________ for firms; experts estimate that the average cost of a single B2B sales call is over $500; some firms have turned to the internet and tech to lower the costs of personal selling ; firms that use recognize the ___________ it adds to their product or service mix § Salespeople provide ___________ and ___________: many customers find value in and are willing to pay for the education and advice that salespeople provide § Salespeople save ___________ and ___________ buying : time is money, customers perceive value in time and labor savings § Salespeople build ___________: building strong marketing channel relationships is critical success factors; most successful are those who build strong relationships with their customers

o Types of sales promotion: 1. Deals 2. Premiums 3. Contests 4. Sweepstakes 5. Samples 6. Loyalty Programs 7. Point-of-Purchase Displays 8. Rebates 9. Product Placements

o Types of sales promotion: 1. ___________ 2. ___________ 3. ___________ 4. ___________ 5. ___________ 6. ___________ Programs 7. ___________ Displays 8. ___________ 9. Product ___________

o Using sales promotion tools - marketers must be careful in their use; especially those that focus on lowering prices; depending on the item, consumers may stock up when items are offered at a lower price, which simply shifts sales from future to now § Many firms are also realizing the value of cross promoting: when two or more firms join together to reach a specific target market

o Using sales promotion tools - marketers must be careful in their use; especially those that focus on ___________ prices; depending on the item, consumers may ___________ up when items are offered at a ___________ price, which simply shifts sales from ___________ to ___________ § Many firms are also realizing the value of ___________ promoting: when two or more firms join together to reach a specific target market

o When recruiting salespeople it helps to possess certain personal traits: these include - Personality - good salespeople are friendly, sociable, and, in general, like being around people. Customers won't buy from someone they don't like. Optimism - good salespeople tend to look at the bright side of things also may help them be resilient—the third trait. Resilience - Good salespeople don't easily take no for an answer. They keep coming back until they get a yes. Self-motivation - As we have already mentioned, salespeople have lots of freedom to spend their days the way they believe will be most productive. But if the salespeople are not self-motivated to get the job done, it probably won't get done. Empathy -is one of the five dimensions of service quality discussed previously in this chapter and in Good salespeople must care about theircustomers, their issues, and their problems.

o When recruiting salespeople it helps to possess certain personal traits: these include - __________ - good salespeople are friendly, sociable, and, in general, like being around people. Customers won't buy from someone they don't like. __________ - good salespeople tend to look at the bright side of things also may help them be resilient __________ - Good salespeople don't easily take no for an answer. They keep coming back until they get a yes. __________ - As we have already mentioned, salespeople have lots of freedom to spend their days the way they believe will be most productive. But if the salespeople are not self-motivated to get the job done, it probably won't get done. __________ -is one of the five dimensions of service quality discussed previously in this chapter and in Good salespeople must care about theircustomers, their issues, and their problems.

o mutual trust - holds strategic relationship together, is the belief that a partner is honest and benevolent; when they trust each other they are more willing to share relevant ideas, clarify goals and problems, and communicate efficiently; also less need for supply chain members to constantly monitor and check up on each others actions · open communication - develops sales forcast together, and coordinate deliveries, and its suppliers maintain open and honest communication ; some business partners don't · common goals - for successful relationship to develop; gives both members of the relationship an incentive to pool their strengths and abilities and exploit potential opportunities together · interdependence - when view goals and ultimate success as intricately linked, they develop because both parties make credible commitments to, or tangible investments in the relationship · credible commitments - successful relationships develop because both parties make credible commitments to, or tangible investments in the relationship ________

o ___________- holds strategic relationship together, is the belief that a partner is honest and benevolent; when they trust each other they are more willing to share relevant ideas, clarify goals and problems, and communicate efficiently; also less need for supply chain members to constantly monitor and check up on each others actions · ___________ - develops sales forcast together, and coordinate deliveries, and its suppliers maintain open and honest communication ; some business partners don't · ___________ - for successful relationship to develop; gives both members of the relationship an incentive to pool their strengths and abilities and exploit potential opportunities together · ___________ - when view goals and ultimate success as intricately linked, they develop because both parties make credible commitments to, or tangible investments in the relationship · ___________- successful relationships develop because both parties make credible commitments to, or tangible investments in the relationship

o motivationg and compensating salespeople - an impIrtant goal for any effective sales manager is to get to know his or her salespeople and determine what motivates them to be effective; some prize their freedom and like to be lift alone, others want attention and are more productive financial rewards - salespeoples compensation usually has several components, most salespeople receive at least part of their compensation as a salary (a fixed sum of money paid at regular intervals; commission ( another common financial incentive is this, which is money paid as a percentage of the sales volume or profitability); bonus (payment made at managements discretion when the salesperson attains certain goals; usually are given only periodically such as at the end of the year); sales contest (short term incentive designed to elicit a specific response from the sales force, prices might be cash or other types of financial incentives) nonfinancial rewards - good salespeople are self motivated; they want to do a good job and make the sale because it makes them feel good, this feeling can be accentuated by recognition from peers and management; should have high symbolic value, as plaques, pens, or rings do; free trips or days off are also effective rewards evaluating salespeople by using marketing metrics - salespeople evaluation process must be tied to their reward structure; if salespeople do well, they should receive their rewards the way you do if you do well on your exams and assignments in a class; however, salespeople should be evaluated and rewarded for only those activities and outcomes that fall under their control ; consider guideline principle for how sales managers should evaluate and reward salespeople for what they do and do not for what they don't do; in business practice salesperson evaluation measures can be objective or subjective; sales, profits, and the number of orders represent examples of objective measures

o motivationg and compensating salespeople - an impIrtant goal for any effective sales manager is to get to know his or her salespeople and determine what __________ them to be effective; some prize their __________ and like to be lift alone, others want __________ and are more productive financial rewards - salespeoples compensation usually has several components, most salespeople receive at least part of their compensation as a __________ (a fixed sum of money paid at regular intervals; __________ ( another common financial incentive is this, which is money paid as a percentage of the sales volume or profitability); __________ (payment made at managements discretion when the salesperson attains certain goals; usually are given only periodically such as at the end of the year); __________ (short term incentive designed to elicit a specific response from the sales force, prices might be cash or other types of financial incentives) nonfinancial rewards - good salespeople are __________ motivated; they want to do a good job and make the sale because it makes them feel __________, this feeling can be accentuated by __________ from peers and management; should have high __________ value, as plaques, pens, or rings do; __________ trips or days off are also effective rewards evaluating salespeople by using marketing metrics - salespeople evaluation process must be tied to their reward structure; if salespeople do well, they should receive their rewards the way you do if you do well on your exams and assignments in a class; however, salespeople should be evaluated and rewarded for only those activities and outcomes that fall under __________ control ; consider guideline __________ for how sales managers should evaluate and reward salespeople for what they do and do not for what they don't do; in business practice salesperson evaluation measures can be __________ or __________; sales, profits, and the number of orders represent examples of objective measures

· Interest -

once the consumer is aware that the company or product exists , communication must work to increase the consumers interest level; it isn't enough to let people know that the product exists; consumers must be persuaded that it is a product worth investigating

o Indirect marketing channel -

one or more intermediaries work with manufacturers to provide goods and services to customers; in some cases, only one intermediary might be involved ; automobile manufacturers such as ford and general motors often use indirect distribution, such that dealers act as retailers; more common when buying in sufficient quantities

· (brand) Awareness -

refers to a potential customers ability to recognize or recall that the brand name is a particular type of retailer or prdocut/service; thus is the strength of the link between the brand name and the type of merchandise or service in the mids of customers; several metrics including aided recall and top-of-mind awareness

§ Pretesting -

refers to assessments performed before an ad campaign is implemented to ensure that the various elements are working in an integrated fashion and doing what they are intended to do

o Top of mind awareness -

the highest level of awareness, occurs when consumers mention a specific brand name first when they are asked about a product or service

· corporate vertical marketing system -

the parent company has complete control and can dictate the priorities and objectives of the marketing channel because it owns multiple segments of the channel, such as manufacturing plants, warehouse facilities, and retail outlets; adding value highlights how ownership and resulting control lessen potential conflict among segments of the channel ; tesla motors is an example because manufactures own cars in California and operates own retail stores in high foot traffic locations

§ The transmitter =

the sender works with a creative department, whether in house or from a marketing or advertising agency, to develop marketing communications to highlight the new beverage (encodes the message); the marketing department or external agency receives the information and transforms it for use in its role

§ After salespeople generate leads, they must qualify those leads by determing whether it is worthwhile to pursue them and attempt to turn them into customers; in B2B settings, the costs of preparing and making a presentation are so substantial that the seller must assess a leads potential § In a retail setting, qualifying potential customers is both dangerous and potentially illegal; retail salespeople should never judge book by cover and assume that a person in the store doesn't fit the stores image or cannot afford to purchase there

§ After salespeople generate leads, they must qualify those leads by determing whether it is worthwhile to ___________ them and attempt to turn them into ___________; in ___________ settings, the costs of preparing and making a presentation are so substantial that the seller must assess a leads ___________ § In a retail setting, qualifying potential customers is both ___________ and potentially ___________; retail salespeople should never judge book by cover and assume that a person in the store doesn't fit the stores image or cannot afford to purchase there

§ All advertising campaigns aim to achieve certain objectives: to inform, persuade, and remind customers; another way of looking at advertising objetives is to examine an ad's focus; ads can be used to stimulate demand for a product category or an entire industry or for a specific brand, firm or item we first look at the broad overall objectives: to inform, persuade, and remind; then we examine advertising objective based on the focus of the ad: product vs institutional

§ All advertising campaigns aim to achieve certain objectives: to ___________, ___________, and ___________ customers; another way of looking at advertising objetives is to examine an ad's ___________; ads can be used to stimulate demand for a product ___________ or an entire ___________ or for a ___________ brand, firm or item we first look at the broad overall objectives: to inform, persuade, and remind; then we examine advertising objective based on the focus of the ad: ___________ vs ___________

§ Although conflict is likely in any marketing channel, it is generally more pronounced when the channel members are independent entities; marketing channels that are more closely aligned, whether by contract or ownership, share common goals and therefore are less prone to conflict

§ Although ________ is likely in any marketing channel, it is generally more pronounced when the channel members are ________ entities; marketing channels that are more closely ________, whether by contract or ownership, share common ________ and therefore are less prone to conflict

§ Avoiding conflicts demands open, honest communication; buyers and vendors all must understand what drives the other party's business, their roles in the relationship, each firms strategies, and any problems that might arise over the course of the relationship ________

§ Avoiding conflicts demands ________, ________ communication; buyers and vendors all must understand what ________ the other party's business, their ________ in the relationship, each firms ________, and any ________ that might arise over the course of the relationship

§ Choosing the right medium: for each class of media, each alternative has specific characteristics that make it suitable for meeting specific objects · Medium Advantages Disadvantages Television Wide reach; incorporates sound and video. High cost; several channel and program options; may increase awareness of competitors' products. Radio Relatively inexpensive; can be selectively targeted; wide reach. No video, which limits presentation; consumers give less focused attention than TV; exposure periods are short. Magazines Very targeted; subscribers pass along to others. Relatively inflexible; takes some time for the magazine to be available. Newspapers Flexible; timely; able to localize. Can be expensive in some markets; advertisements have short life span. Internet/mobile Can be linked to detailed content; highly flexible and interactive; allows for specific targeting. Becoming cluttered; the ad may be blocked by software on the computer. Outdoor/ billboard Relatively inexpensive; offers opportunities for repeat exposure. Is not easily targeted; has placement problems in some markets; exposure time is very short. Direct marketing Highly targeted; allows for personalization. Cost can vary depending on type of direct marketing used; traditional media, like mail, will be more expensive than newer media.

§ Choosing the right medium: for each class of media, each alternative has specific characteristics that make it suitable for meeting specific objects · Medium Advantages Disadvantages (Television) ___________ reach; incorporates ___________ and ___________. ___________ cost; ___________ channel and program options; may increase ___________ of competitors' products. (Radio) Relatively inexpensive; can be ___________ targeted; ___________ reach. No ___________, which limits presentation; consumers give less ___________ attention than TV; exposure periods are short. (Magazines) Very ___________; subscribers ___________ along to others. Relatively ___________; takes some ___________ for the magazine to be available. (Newspapers) ___________; ___________; able to ___________. Can be ___________ in some markets; advertisements have ___________ life span. (Internet/mobile) Can be linked to ___________ content; highly ___________ and interactive; allows for ___________ targeting. Becoming ___________; the ad may be ___________ by software on the computer. (Outdoor/ billboard) Relatively ___________; offers opportunities for ___________ exposure. Is not easily ___________; has ___________ problems in some markets; exposure time is very ___________. (Direct marketing) Highly ___________; allows for ___________. ___________ can vary depending on type of direct marketing used; ___________ media, like ___________, will be more expensive than ___________ media.

§ Customer information if available at all is typically included in a manual system that each individual salesperson kept, using a notebook or a series of cards; can often access all info immediately and conveniently from CRM system; most cases these systems have several components, computer database or data warehouse

§ Customer information if available at all is typically included in a ___________ system that each individual salesperson kept, using a notebook or a series of cards; can often access all info immediately and conveniently from ___________ system; most cases these systems have several components, computer ___________ or data ___________

§ Determine the advertising schedule: def ; another important decision for the media planner, which specifies the timing and duration of advertising (3 types of schedules) · Continuous schedule - runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relatively steady rates and that require a steady level of persuasive and or reminder advertising · Flighting - refers to an advertising schedule implemented in spurts with periods of heavy advertising followed by periods of no advertising; this pattern generally functions for products whose demand fluctuates such as suntan lotion which manufacturers may advertise heavily in the months leading up to an during the summer · Pulsing - combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods

§ Determine the ___________: def ; another important decision for the media planner, which specifies the timing and duration of advertising (3 types) · ___________ - runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relatively steady rates and that require a steady level of persuasive and or reminder advertising · ___________ - refers to an advertising schedule implemented in spurts with periods of heavy advertising followed by periods of no advertising; this pattern generally functions for products whose demand fluctuates such as suntan lotion which manufacturers may advertise heavily in the months leading up to an during the summer · ___________ - combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods

§ Focus of advertisements - An ad campaign's objectives determine each specific ad's focus. The ad can be product focused, might have an institutional focus, or could have a public service focus. · Product-focused advertisements: inform, persuade, or remind consumers about a specific product or service. The Kleenex ad shown here is designed to generate sales for Kleenex. · Institutional advertisement: is a type of advertising that promotes a company, corporation, business, institution, or organization. Unlike product-focused advertisements, it is not intended to sell a particular product or service. An ongoing and well-known institutional advertising campaign promotes GE's Ecomagination o Public service advertising (PSA) - a specific category of institutional advertising; focus on public welfare; generally they are sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups ; also inform, persuade, or remind consumers but the focus is for the betterment of society ; represent a form of social marketing o Social marketing - defined as the application of marketing principles to a social issue to bring about attitudinal and behavioral change among the general public or a specific population segment ___________

§ Focus of advertisements - An ad campaign's objectives determine each specific ad's focus. The ad can be ___________ focused, might have an ___________ focus, or could have a public ___________ focus. · ___________ advertisements: inform, persuade, or remind consumers about a specific product or service. The Kleenex ad shown here is designed to generate sales for Kleenex. · ___________ advertisement: is a type of advertising that promotes a company, corporation, business, institution, or organization. Unlike product-focused advertisements, it is not intended to sell a particular product or service. An ongoing and well-known institutional advertising campaign promotes GE's Ecomagination o ___________ (___________) - a specific category of institutional advertising; focus on public welfare; generally they are sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups ; also inform, persuade, or remind consumers but the focus is for the betterment of society ; represent a form of social marketing o ___________ - defined as the application of marketing principles to a social issue to bring about attitudinal and behavioral change among the general public or a specific population segment

§ Planning, implementing, and evaluating IMC programs, an illustration of google advertising · Importance of personal selling for this market because these consumers 1. Make large purchases and 2. Seek considerable info before making a decision ; program developed emphasizes his stores distinctive image and uses his website, social shopping, and some interesting community building techniques · Social shopping - the use of the internet to communicate about product preferences with other shoppers · Search engine marketing SEM - to reach new customers, use this; using google adwords, a search engine marketing tool offered by google that allows advertisers to show up in the sponsored links section of the search results page based on the keywords potential customers use · Impressions - the number of times the ad appears in front of the users; used to estimate reach · Click through rate - to estimate reach; to calculate, divides the number of times a user clicks an ad by the number of impressions · Relevance 0 of the ad describes how useful an ad message is to the consumer doing the search · Return on marketing investment ROMI: = [(gross margin - marketing expenditure)/ marketing expenditure] x 100 ___________

§ Planning, implementing, and evaluating IMC programs, an illustration of google advertising · Importance of ___________ for this market because these consumers 1. Make large purchases and 2. Seek considerable info before making a decision ; program developed emphasizes his stores distinctive image and uses his website, social shopping, and some interesting community building techniques · ___________ - the use of the internet to communicate about product preferences with other shoppers · ___________ - to reach new customers, use this; using google adwords, a search engine marketing tool offered by google that allows advertisers to show up in the sponsored links section of the search results page based on the keywords potential customers use · ___________ - the number of times the ad appears in front of the users; used to estimate reach · ___________- to estimate reach; to calculate, divides the number of times a user clicks an ad by the number of impressions · Relevance 0 of the ad describes how useful an ad message is to the consumer doing the search · ___________: = [(gross margin - marketing expenditure)/ marketing expenditure] x 100

§ Receivers decode messages differently - each receiver decodes a message in their own way, not necessarily the way the sender intended; different people shown the same message will often take radically different meanings from it

§ Receivers ___________ messages differently - each receiver ___________ a message in their own way, not necessarily the way the sender ___________; different people shown the same message will often take ___________ ___________ meanings from it

§ Salesperson duties - although the life of a professional salesperson is highly varied salespeople generally play 3 important roles; · Order getting or order getter, Order taking or order taker,Sales support personnel or a Combination of duties

§ Salesperson duties - although the life of a professional salesperson is highly varied salespeople generally play 3 important roles; · _______ , _______,_______ or a _______ of duties

§ Senders adjust messages according to the medium and receivers traits : different media communicate in varied ways, so marketers make adjustments to their messages and media depending on whether they want to communicate with suppliers, shareholders, customers, the general public or even segments of those groups ___________

§ Senders adjust messages according to the ___________ and receivers ___________ : different media communicate in ___________ ways, so marketers make adjustments to their messages and media depending on whether they want to communicate with ___________, ___________, ___________, the general ___________ or even ___________ of those groups

§ Most indirect, with a company to an agent to wholesaler to retailer to consumer; employed with many small manufacturers and retailers; agent used to help coordinate to help sell to the wholesalers ________

§ The Most indirect, with a company to an ________ to ________ to retailer to consumer; employed with many small ________ and ________; ________ used to help coordinate to help sell to the wholesalers

§ Traditional media - when measuring IMC success the firm should examine when and how often consumers have been exposed to various marketing communications; specifically the firm uses measures of frequency and reach to gauge consumers exposure to marketing communication is hardly enough to generate the desired response therefore, marketers measure frequency of exposure · Frequency of exposre - how often the audience is exposed to a communication within a specified period of time · Reach - the other measure used to gauge consumers exposure to marketing communications; which describes the percentage of the target population exposed to a specific marketing communication, such as an advertisement, at least once · Marketing communications managers usually state their media objectives in terms of gross rating points GRP - represents reach multiplied by frequency (GRP = reach x frequency); measures can refer to print, radio, or TV, bu any comparisons require a single medium ex. 556,7 ___________

§ __________ media - when measuring IMC success the firm should examine __________ and __________ often consumers have been exposed to various marketing communications; specifically the firm uses measures of __________ and __________ to gauge consumers exposure to marketing communication is hardly enough to generate the desired response therefore, marketers measure frequency of exposure · __________ - how often the audience is exposed to a communication within a specified period of time · __________ - the other measure used to gauge consumers exposure to marketing communications; which describes the percentage of the target population exposed to a specific marketing communication, such as an advertisement, at least once · Marketing communications managers usually state their media objectives in terms of __________ __________ - represents reach multiplied by frequency (GRP = reach x frequency); measures can refer to print, radio, or TV, bu any comparisons require a single medium ex. 556,7

§ Deals - refers generally to a type of short term price reduction that can take several forms such as a featured price, a price lower than the regular price; a certain percentage more free offer contained in larger packaging, or a buy one get one half off offer; can alter perceptions of value; a short term price reduction may signal a different price quality relationship than would be ideal from manufacturers perspective § Premium - offers an item for free or at a bargain price to reward some type of behavior such as buying sampling or testing; these rewards build goodwill among consumers, who often perceive high value in them; can be distributed in a variety of ways; can be included in the product packaging, placed visibly on the package, handed out in the store, or delivered in the mail § Contests - refers to a brand sponsored competition that requires some form of skill or effort § Sweepstakes - a form of sales promotion that offers prizes based on a chance drawing of entrants names; do not require the entrant to complete a task other than buying a ticket or filling out a form ; often the key benefit is that they encourage current consumers to consume more if the form appears inside the packaging or with the product § Samples - offers potential customers the opportunity to try a product or service before they make a buying decision; distributing this is one of the most costly sales promotion tools but also one of the most effective § Loyalty programs - specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time; well designed encourage consumers to increase their engagement and purchases from a given form § Point of purchase displays POP - merchandise displays located at the point of purchase, such as at the checkout counter in a supermarket; retailers have long recognized that the most valuable real estate in the store is at the POP because they increase product visibility and encourage trial § Rebates - particular type of price reduction in which a portion of the purchase price si returned by the seller to the buyer in the form of cash; many products, such as consumer electronics, offer significant mail in rebates that may lower the price of the item significantly § Product placement - when marketers use this, they pay to have their product included in nontraditional situations, such as in a scene in a movie or television program

§ ___________ - refers generally to a type of short term price reduction that can take several forms such as a featured price, a price lower than the regular price; a certain percentage more free offer contained in larger packaging, or a buy one get one half off offer; can alter perceptions of value; a short term price reduction may signal a different price quality relationship than would be ideal from manufacturers perspective § ___________ - offers an item for free or at a bargain price to reward some type of behavior such as buying sampling or testing; these rewards build goodwill among consumers, who often perceive high value in them; can be distributed in a variety of ways; can be included in the product packaging, placed visibly on the package, handed out in the store, or delivered in the mail § ___________ - refers to a brand sponsored competition that requires some form of skill or effort § ___________ - a form of sales promotion that offers prizes based on a chance drawing of entrants names; do not require the entrant to complete a task other than buying a ticket or filling out a form ; often the key benefit is that they encourage current consumers to consume more if the form appears inside the packaging or with the product § ___________ - offers potential customers the opportunity to try a product or service before they make a buying decision; distributing this is one of the most costly sales promotion tools but also one of the most effective § ___________ - specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time; well designed encourage consumers to increase their engagement and purchases from a given form § ___________ - merchandise displays located at the point of purchase, such as at the checkout counter in a supermarket; retailers have long recognized that the most valuable real estate in the store is at the POP because they increase product visibility and encourage trial § ___________ - particular type of price reduction in which a portion of the purchase price si returned by the seller to the buyer in the form of cash; many products, such as consumer electronics, offer significant mail in these that may lower the price of the item significantly § ___________ - when marketers use this, they pay to have their product included in nontraditional situations, such as in a scene in a movie or television program

§ Web-based media - firms are spending billions annually on online advertising, which includes paid search, display ads, email, and sponsorship; an adequate measure for TV and radio advertisements, assessing the effectiveness of any web based communication efforts in an IMC campaign generally requires web tracking software · Web tracking software - measures how much time viewers spend on particular web pages, the number of pages they view, how many times users click banner ads, which website they came from, and so on; all these metrics can be easily measured and assessed using a variety of software ___________

§ ___________- firms are spending billions annually on online advertising, which includes paid search, display ads, email, and sponsorship; an adequate measure for TV and radio advertisements, assessing the effectiveness of any web based communication efforts in an IMC campaign generally requires web tracking software · ___________ - measures how much time viewers spend on particular web pages, the number of pages they view, how many times users click banner ads, which website they came from, and so on; all these metrics can be easily measured and assessed using a variety of software

§ in conventional marketing channel, relationships between members reflect their arguments over the split of the profit pie: if one gets ahead, other falls behind; sometimes type of transaction is acceptable if the parties have no interest in a long term relationship but such attitudes can limit success of supply chain as whole ________

§ in ________ marketing channel, relationships between members reflect their arguments over the split of the profit pie: if one gets ________, other ________ behind; sometimes type of ________ is acceptable if the parties have no interest in a long term relationship but such attitudes can ________ success of supply chain as whole

· Channels used in an integrated marketing communications strategy: o For any communications campaign to succeed, firm must deliver the right message to the right audience through the right media, with the ultimate goal of profiting from long term customer relationships rather than just short term transactions; reaching the right audience has become more difficult, however as the media environment grows more complicated o No single channel necessarily better than another channel; goal to use channels in conjunction so the sum exceeds the total f the individual channels Passive and interactive (from consumers perspective and offline and online ___________

· Channels used in an integrated marketing communications strategy: o For any communications campaign to succeed, firm must deliver the right ___________ to the right ___________ through the right ___________, with the ultimate goal of ___________ from long term customer relationships rather than just short term transactions; reaching the right audience has become more ___________, however as the media environment grows more ___________ o No single channel necessarily ___________ than another channel; goal to use channels in ___________ so the sum exceeds the total f the individual channels ___________ and ___________ (from consumers perspective and offline and online

· Communicating with consumers : as number of communication media have increased, task of understanding how best to reach target consumers has become far more complex o Communication process: (sender -> transmitter -> communication channel -> receiver -> feedback)

· Communicating with consumers : as number of communication media have increased, task of understanding how best to reach target consumers has become far more complex o Communication process: (___________ -> ___________ -> communication ___________ -> ___________ -> ___________)

· Designing marketing channels o When a firm starting out or entering a new market, doesn't typically have option of designing best marketing channel structure - choosing from whom it buys or to whom it sells o Although there are various constraints on marketing channel partners with regard to the design of the best channel structure all marketing channels take the form of a direct , indirect, or some combination thereof (channels) ________

· Designing marketing channels o When a firm starting out or entering a new market, doesn't typically have ________ of ________ best marketing channel structure - choosing from whom it ________ or to whom it ________ o Although there are various ________ on marketing channel partners with regard to the ________ of the best ________ structure all marketing channels take the form of a ________ , ________, or some ________ thereof (channels)

· Factors for establishing a relationship with retailers****** § Manufacturers may consider them all simultaneously or in a different order

· Factors for establishing a relationship with retailers § Manufacturers may consider them all simultaneously or in a different order · Omnichannel or multichannel strategy - · Factors for establishing a relationship with retailers § Manufacturers may consider them all simultaneously or in a different order o 1. Choosing retailing partners o 2. Identifying types of retailers o 3. Developing a retail strategy o 4. Managing an omnichannel strategy

· How Do Channels Add Value - o Transaction function - reduce number of transactions, buying, selling and risk sharing o Logistical function - assorting, storing, sorting, transporting o Facilitating function - (financing, grading, information) Increase value for consumers - place, time, form. And possession utility

· How Do Channels Add Value - o ________ function - reduce number of this, buying, selling and risk sharing o ________ function - assorting, storing, sorting, transporting o ________ function - (financing, grading, information) ________- place, time, form. And possession utility

· Managing the marketing channel and supply chain o Marketing channels and supply chains comprise various buying entities such as retailers and wholesalers, sellers such as manufacturers or wholesalers and facilitators of the exchange such as transportation companies ; companies. Similar to interpersonal interactions, their relationships can range from close working partnerships to one-time arrangements. o In most cases interactions occur across the supply chain because the parties want something from each other o Each member of the marketing channel also performs a specialized role; if one member believes that another has failed to do its job correctly or efficiently, it can replace that member o Anytime a marketing channel member is replaced, the function it has performed remains so sometimes needs to complete it o If marketing channel is to run efficiently the participating members must cooperate o Often supply chain members have conflicting goals, which may result in channel conflict ________

· Managing the marketing channel and supply chain o Marketing channels and supply chains comprise various ________ entities such as ________ and ________, sellers such as ________ or ________ and facilitators of the exchange such as ________ companies ; companies. Similar to ________ interactions, their relationships can range from close working ________ to ________ arrangements. o In most cases interactions occur across the ________ because the parties ________ something from each other o Each member of the marketing channel also performs a ________ role; if one member believes that another has failed to do its job correctly or efficiently, it can ________ that member o Anytime a marketing channel member is ________, the function it has performed ________ so sometimes needs to complete it o If marketing channel is to run efficiently the participating members must ________ o Often supply chain members have ________ ________, which may result in channel conflict

· Managing the sales force:

· Managing the sales force:

§ Contractual vertical marketing system:

· Members of the supply chain often formalize their relationship by entering into contracts that dictate various terms, such as how much a company will buy from the other company each month and at what price, as well as the penalties for late deliveries · Def: in this, independent firms at different levels of the marketing channel join through contracts to obtain economies of scale and coordination and to reduce conflict; prefer for higher efficiency

· Planning for and measuring IMC success : set strategic goals, set budget and choose metrics whether achieved objectives

· Planning for and measuring IMC success : set strategic ___________, set ___________ and choose ___________ whether achieved objectives

· The appeal - advertisers use different appeals to portray their products or services and persuade consumers to purchase them, though advertising tends to combine the types of appeals into two categories: informational and emotional o Informational appeals: help consumers make purchase deicisons by offering factual information that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides ; by informing consumers about a potential source of its competitive advantage, including tangible features and images of sciecnce the advertising copy directly delivers an informational persuasive message o Emotional appeals - aims to satisfy consumers emotional desires rather than their utilitarian needs; these appeals therefore focus on feelings about the self; the key to a successful emotional appeal is the use of emotion to create a bond between the consumer and the brand; most common types include fear/safety, humor, happiness, love or sex, comfort, and nostalgia

· The appeal - advertisers use ___________ appeals to ___________ their products or services and ___________ consumers to purchase them, though advertising tends to combine the types of appeals into two categories: ___________ and ___________ ___________ help consumers make purchase deicisons by offering factual information that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides ; by informing consumers about a potential source of its competitive advantage, including tangible features and images of sciecnce the advertising copy directly delivers an informational persuasive message ___________ - aims to satisfy consumers emotional desires rather than their utilitarian needs; these appeals therefore focus on feelings about the self; the key to a successful emotional appeal is the use of emotion to create a bond between the consumer and the brand; most common types include fear/safety, humor, happiness, love or sex, comfort, and nostalgia

· Reward power - offering rewards or often a monetary incentive, ex. It might promise to purchase larger quantities if a manufacturer will lower its wholesale price · Coercive power - arises when threatens to punish or punishes the other channel member for not undertaking certain tasks, such as if it were to delay payment for a late delivery · Referent power - if a supplier desperately wants to be associated with the organization, because being known as an important business supplier enables that supplier to attract other retailers business; in this sense, the other company might be playing its retailer partners against one another to enhance its own performance · Expertise power - relies on its vast experience and knowledge to decide how to market a particular suppliers products, without giving the supplier much of a stay · Information power - has vast information about the consumer goods market, providing or withholding important market information; at the same time the other organization might have its own information power that it could exert over the other, depending on which company has the most or must updated data · Legitimate power - based on getting a channel member to behave in a certain way because of a contractual agreement between the two firms ________

· ________ power - offering rewards or often a monetary incentive, ex. It might promise to purchase larger quantities if a manufacturer will lower its wholesale price · ________ power - arises when threatens to punish or punishes the other channel member for not undertaking certain tasks, such as if it were to delay payment for a late delivery · ________ power - if a supplier desperately wants to be associated with the organization, because being known as an important business supplier enables that supplier to attract other retailers business; in this sense, the other company might be playing its retailer partners against one another to enhance its own performance · ________ power - relies on its vast experience and knowledge to decide how to market a particular suppliers products, without giving the supplier much of a stay · ________ power - has vast information about the consumer goods market, providing or withholding important market information; at the same time the other organization might have its own information power that it could exert over the other, depending on which company has the most or must updated data · ________ power - based on getting a channel member to behave in a certain way because of a contractual agreement between the two firms

· Franchising - most common type of contractual vertical marketing system; is a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor; o in a franchise contract, the franchisee pays a lump sum plus a royalty on all sales in return for the right to oerate a business in a specific location; the franchisee also agrees to operate the outlet in accordance with the procedures prescribed by the franchisor; o franchisor typically provides assistance in locating and building the business developing the products or services sold, management training, and advertising products or services sold, management training and advertising; to maintain the franchisees reputation, the franchisor also makes sure all outlets provide same quality of services and products o franchise combines entrepreneurial advantages of owning a business with the efficiencies of vertical marketing systems that function under single ownership (i.e. corporate system) o franchisees motivated to make stores successful bc receive profits after pau royalty to franchisor, who's motivated to make their stores successful because they receive the profits after they pay the royalty to the franchisor ; motivated to develop new products, services, and systems to promote franchise because it receives royalties on all sales; advertising, product development, and system development are all done efficiently by the franchisor, with costs shared by all franchisees

· ___________ - most common type of ___________ vertical marketing system; is a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a ___________ outlet using a name and format developed and supported by the ___________; o in a franchisee contract, the franchisee ___________ a lump sum plus a ___________ on all sales in return for the right to ___________ a business in a specific location; the franchisee also agrees to operate the outlet in accordance with the ___________ prescribed by the franchisor; o franchisor typically provides assistance in ___________ and ___________ the business developing the products or services sold, management training, and advertising products or services sold, management training and advertising; to maintain the franchisees reputation, the franchisor also makes sure all outlets provide same ___________ of services and products o franchisee combines ___________ advantages of owning a business with the efficiencies of vertical marketing systems that function under single ownership (i.e. corporate system) o franchisees motivated to make stores successful bc receive profits ___________ pay royalty to franchisor, who's motivated to make their stores successful because they receive the profits after they pay the royalty to the franchisor ; ___________ to develop new products, services, and systems to promote franchise because it receives ___________ on all sales; advertising, product development, and system development are all done efficiently by the franchisor, with costs shared by all franchisees

· Order getting or order getter = is a salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale · Order taking or order taker = salesperson whose primary responsibility is to process routine orders, reorders, or rebuys for products · Sales support personnel = enhance and help with the overall selling effort · Combination duties = although some salespeoples primary function may be order getting, order taking, or sales support, others fill a combo of roles

· ___________ = is a salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale · ___________= salesperson whose primary responsibility is to process routine orders, reorders, or rebuys for products · ___________ = enhance and help with the overall selling effort ·___________= although some salespeoples primary function may be order getting, order taking, or sales support, others fill a combo of roles

· in a conventional or administered marketing channel there are significant incentives to establish a strategic relationship even without contracts or ownership relationships; both parties benefit because the size of profit pie has increased so both buyer and seller increase sales and profits. ; A. Managing Marketing Channels and Supply Chains through Strategic Relationships 1. Mutual Trust 1. Open Communication 2. Common Goals 3. Interdependence 4. Credible Commitments

· in a ________ or ________ marketing channel there are significant incentives to establish a strategic relationship even without ________ or ________ relationships; both parties benefit because the size of profit pie has ________ so both buyer and seller ________ sales and profits. ; A. ________ Marketing Channels and Supply Chains through Strategic Relationships 1. Mutual ________ 1. Open ________ 2. Common ________ 3. ________ 4. ________ Commitments