Final Marketing Exam

the most common IMC program which suggests that awareness leads to interest which leads to desire which leads to action, each stage of the consumer makes judgments about whether to take the next step in the process

AIDA Model

What are the three types of a vertical Marketing Systems?

Administered Contractual and Corporate

This type of vertical Marketing System is when there is no comment ownership or contractual relationships but the dominant Channel member controls or holds the balance of power

Administered Vertical Marketing System

Is a 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 we're the future first this is not 3 second this must be carried by some median such as television radio or the web third weekly the source of the message must be known or Noble and 4th this represents a persuasive form of communication designed to get the consumer to take some action

Advertising

This pricing tactic offers a price reduction to channel members if they agree to feature the manufacturer's product in their advertising and promotional efforts these are legal as long as they are available to all customers and not structure in such a way that they are consistently and obviously favor one or few buyers over others

Advertising Allowance

A subsection of the firm's 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 this is crucial because it will later serve as the yardstick against which advertising success or failure is measured

Advertising Plan

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

Aided Recall

this rule of thumb is marketers forecast for sales and expenses excluding communication during the budgeting. The difference between the forecast sales and expenses plus desired profit is reserved for the communication budget this assumes communication expenses do not stimulate sales and profits

Available Budget

This type of tactic is a deceptive practice because the store lose customers in with a very low price on an item the bait only to aggressively pressure these customers into purchasing a higher-priced model of the switch by disparaging a lower price items comparing it unfavorably with the higher price Model or professing and inadequate supply of the lower price item

Bait and Switch

this contains periodic post on a common web page if it is well received and can communicate Trends and I'm special events create positive word-of-mouth connect customers by forming a community allowing the company to respond directly to Consumers comments and develop a long-term relationship with the company this is supposed to be transparent sand to contain authors on his observations

Blog

this represents the main text portion of the add it is used to build on the interest generated by the visual and headlines explains in more depth what the headline and sub had lines as you do arouse desire for the product and provides enough information to move the target consumers action

Body Copy

in settings in which consumers are in very low wages, which means there is a large impoverished population that still wants and needs consumers Goods but cannot pay the prices that the fewer wealthier consumers in developed Nations can

Bottom of the Pyramid

this refers to a potential customers ability to recognize or recall the brand name is a particular type of retailer or product service this is the strength of the link between the brand name and the type of merchandise or service in the minds of customers

Brand Awareness

ABS typically have a number of this to identify the sponsor of the add typically through a logo and a unique selling proposition thus The Advertiser must convey its message using compelling visuals headlines body copies and _____

Brand Elements

This refers to the point at which the number of units sold generates just enough Revenue to equal the total costs, at this point profits are zero

Break Even Point

This reduces the invoice cost if the buyer pays the invoice prior to the end of the discount. Typically it is expressed in the form of a percentage such as 3 out of 10 and 30 or 3% 10 days net 30 which means the buyer can take a 3% discount on the total amount of the invoice at the bill is paid within 10 days of the invoice date

Cash Discounts

this type of marketing refers to businesses and Charities that form a partnership to Market and image product or service for their Mutual benefit in history

Cause Related Marketing

this is the process of going through the goods upon receipt to make sure they arrived sun damage and that the merchandise ordered was the merchandise received

Checking

this is determined by dividing the number of times a user clicks and add by the number of impressions

Click Through Rate

this type of power is when Walmart 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

Coercive Power

supply chain members must have these for a successful relationship to develop these will give both members of their relationship in and send them to pull their strengths and abilities and exploit potential opportunity together there's also offers and assurance that the other partner won't do anything to hinder the achievement of those goals within the relationship

Common Goals

What are the 5 C's of Pricing?

Company Objectives, Customers, Costs, Competitonm and Channel Members

This method is when a firm sets their prices to reflect the way they want consumers to interpret their own prices relative to competitors offerings

Competition Based Pricing Method

When firms set prices that are similar to those of their major competitors

Competitive Parity

this rule of thumb is the communication budget is set so that the firm share of communication expenses equals its share of the market, does not allow firms to exploit that unique opportunities are problems they confronted Market

Competitive Parity

This type of orientation relates to when a firm they strategize according to the promise that they should measure themselves primarily against their competition

Competitor Orientation

These would be products like Mountain Dew and Doritos, which are the products whose demands are positively related such as they rise and fall together

Complementary Products

this type of sales promotion refers to a brand sponsored competition that requires some form or skill or effort

Contests

This type of advertising schedule run steadily throughout the year and therefore is suited to products and services that are consumed continually at relatively steady rates and that require a study level of persuasive and or reminder advertising for example Procter & Gamble advertises its tide brand of laundry detergent continuously

Continuous Schedule

This type of system is when independent Firms at different levels of the marketing channel joined through contracts to obtain economies of sale in coordination and to reduce conflict

Contractual Vertical Marketing System

This is the price less than the variable cost per unit

Contribution per Unit

this type of marketing system is when 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 plant

Corporate Vertical Marketing System

These determine the final price to charge by starting with the cost relevant costs such as fixed variable in overhead and profit are added, then this total amount is divided by the total demand to arrive at the Cost Plus price

Cost Based Pricing Methods

This type of method is when consumers may be willing to pay more for a particular product because over its entire lifetime it will eventually cost less to own then will a cheaper alternative

Cost of Ownership Method

These offer a discount on the price of specific items when they're purchased and are issued by manufacturers and retailers and newspapers on products on the Shelf at the cash register over the internet and through the mail

Coupons

this type of sales promotion offer a discount on the price of specific all items are purchased they are used to stimulate demand and are issued by manufacturers and retailers and newspapers on products on the Shelf at in-store kiosk at the cash register over the Internet through the mail and on mobile devices even when customers are in the store

Coupons

Stressful relationships develop because both parties make ________ _______ two or tangible investments in the relationship and they involve spending money to improve the products or Services provided to the customer and on information technology to improve supply chain efficiency

Credible Commitments

this type of distribution center is where merchandise cartons are pre-packaged by the vendor for a specific store, the UPC or RFID labels on the carton indicate the store to which it has to be sent and the vendor may also I fixed price tags to each item in the carton because the merchandise is ready for sale at his place on the conveyor system that routes it from the unloading dock to the loading dock for the truck going to that specific store

Cross Ducking Distribution Center

This is the percentage change in the quantity of Product A demanded compared with the percentage change in price for Product B. If Product's A price increases, then Products B's price would either increase or decrease depending on the situation and whether the products are complementary or substitutes

Cross Price Elasticity

this refers to when two or more firms join together to reach a specific target market to achieve a successful blank the two products must appeal to the same target market and together create value for consumers

Cross Promoting

This uses the amount purchased over a specific time. And usually involves several transactions disabled discount particularly encourages resellers to maintain their current supplier because the cost to switch must include the loss of the discount

Cumulative Quantity Discount

This type of orientation is when a firm sets its pricing strategy based on how it can add value to its products or services

Customer Orientation

this type of sales promotion refers generally to a type of short-term price reduction that can take several forms such as featured price a price lower than the regular price a certain percentage more free offer contained in larger packaging or buy one get one 1/2 off offer as shown in the nearby Payless add another form of this involves a special financing Arrangement such as produced percentage interest rates or extended repayment terms these encourage consumers to try a product because the lower the rest were consumers by reducing the cost of the goods

Deal

this refers to the process by which the receiver interprets the sender's message

Decoding

This curve shows how many units of a product or service consumers will demand during a specific period of time at different prices

Demand Curve

this requires a firm to maintain 100% ownership of its plants operation facilities and offices in a foreign country often through the formation of Lyon subsidiaries this entry strategy requires the highest level of investment and exposes The Firm to significant risk including the loss of its operating and or initial Investments

Direct Investment

the type of marketing is marketing that communicates directly with Target customers to generate a response or transaction this contains a variety of traditional and new forms of marketing Communications incentives

Direct Marketing

this type of channel has no intermediaries between the buyer and the seller, typically the seller is a manufacturer such as when a carpentry business sells bookcases through its own store and online to individual consumers

Direct Marketing Channel

this is the person who coordinates deliveries to the Distribution Center reassigns the truck delivering the HD TVs to a Wednesday morning delivery slot and charges The Firm several hundred dollars for missing its delivery time

Dispatcher

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

Distribution Center

This type of pricing which is also known as individualized pricing, refers to the process of charging different prices for goods or services based on the type of customer, time of day or time of the week, and even season plus their level of demand

Dynamic Pricing

The market for a product or service is price sensitive, or _____ when the price elasticity is less than -1. For example, a -5 would indicate a 1% decrease in price produces a 5% increase in the quantity sold

Elastic

this is the computer to computer exchange of business documents from a retailer to a vendor and back with this vendors are able to transmit information about on-hand inventory status vendor promotions and cause changes to the retailer

Electronic Data Interchange

this type of appeal aims to satisfy consumers emotional desires rather than their neat's these appeals focus on feelings about self the key thing to remember in this appeal is to use____ to create a bond between the consumer and the brand

Emotional Appeal

this occurs when corporations support various activities financially or otherwise usually in the cultural or sports and entertainment sectors Red Bull is a frequent sponsor of various kinds of sporting events such as Red Bull air race and numerous extreme sports events

Event Sponsorship

This strategy is one company stressed the contingency of their retail prices at a level somewhere between the regular and non sale price in the Deep Discount sale prices their competitors may offer and this add value

Everyday Low Pricing (EDLP)

this refers to the regulation of a country's currency exchange rate which measures how much ones currency is worth in relation to another designated agency in each country often to Central Bank sets the rules for currency exchange in the United States the Federal Reserve sets the currency exchange rates

Exchange Control

When firms use the penetration pricing strategy they expect the unit cost to drop significantly as the accumulated volume sold increases and with this affect sales continue to grow the cost continue to drop

Experience Curve Effect

this type of power is when a firm relies on its past experiences and knowledge to decide how to Market a particular suppliers products without giving the supplier much of a say

Expertise Power

this means producing Goods in one country and selling them to another this entry strategy requires the least Financial Risk but also allows for only a limited return to the exporting firm Global expansion when a firm receives an order for its product or service from another country and in which case it faces little rest because it has no investment in people Capital Equipment building or infrastructure

Exporting

this allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly this can take many forms such as a customer's purchase of the item that use of the Pepsi Emoji a complaint or a compliment the Redemption of a coupon or a bait a tweet about the product on Twitter and so forth

Feedback Loop

These are the costs that remain essentially at the same level regardless of any changes in the volume or production, typically these cost include items such as rent utilities Insurance administrative salaries and the depreciation of the physical plant and equipment

Fixed Costs

this type of advertising schedule refers 2 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 and during the summer

Flighting Schedule

this type of merchandise is the merchandise that is ready to be placed on the selling floor getting these products ready consist of ready and Tails ticketing marketing and in case of some apparel placing garments on hangers

Floor Ready Merchandise

this is a contract row agreement between a firm the franchisor and another firm or individual the franchisee this contract allows the franchisee to operate a business a retail product or service firm or a business-to-business provider using the name and business format developed and supported by the franchisor many of the best-known retailers the United States are also successful Global franchises including McDonald's Pizza Hut Starbucks Domino's Pizza KFC

Franchising

this is the most common type of contractor vertical Marketing System and it is when a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using the name and format developed and supported by the franchisor. examples include McDonald's Dunkin Donuts and UPS

Franchising

how often the audience is exposed to a communication within a specific period of time

Frequency of Exposure

centers that are used to ship directly to customers

Fulfillment Centers

This type of Market employs irregular but not necessarily illegal methods generally it legally circumvents authorized channels of distribution to sell Goods at prices lower than those intended by the manufacturer

Gray Market

This is the most widely used of these three metrics and is defined as the market value of the goods and services produced by a country in a year

Gross Domestic Products (GDP)

this consists of GDP plus the net income earned from Investments abroad minus any payments made to non-residents who contribute to the domestic economy

Gross National Product (GNP)

represents reach X frequency and it measures refer to print radio or television but any compromises require a single medium

Gross Rating Points

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

Headline

This method relies on the promotion of sales during which prices are temporarily reduced to encourage purchases this is appealing because it attracts two distinct market segments those who are not price sensitive and are willing to pay the high price and more price-sensitive customers who wait for the low sell price

High/Low Pricing

This type of conflict occurs when there is a disagreement or Discord among members at the same level in a marketing channel such as two competing retailers or two competing manufacturers

Horizontal Channel Conflict

This occurs when competitors who produce and sell competing products or services clued or work together to control prices effectively taking price out of the decision process for consumers this practice clearly reduces competition and is illegal

Horizontal Price Fixing

Steps in Planning and Executing an Ad campaign=

Identify target audience set advertising objectives determine the advertising budget convey the message evaluate in select media create advertisements assess impact

the number of times the ad appears in front of the user

Impressions

This represents an estimate of how much more or less consumers are willing to pay for a product relative to other comparable products example would be cell phones

Improvement Value

This type of effect refers to the change in the quantity of a product demanded by consumers due to changes in their incomes. Generally, as people's income increases, their spending behavior changes, shifting their demand to lower priced products to higher priced alternatives.

Income Effect

this type of channel is when several independent members a manufacturer a wholesaler and a retailer attempt to satisfy their own objectives and maximize their profits often at the expense of other members none of the participants have any control over the others and both parties likely to try to extract as much profit from the deals possible

Independent (Conventional) Marketing Channel

this type of channel is when 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 use this type of channeling

Indirect Marketing Channel

The market for a product or service is generally viewed as price insensitive or _____ when its price elasticity is greater than -1. For example, -0.50 indicates that a 1% increase in the price results in one half a percent decreases in the quantity sold

Inelastic

this type of power is when Walmart has vast information about the consumer goods market and will display this type of power over P&G by providing or withholding important Market information

Information Power

this type of appeal helps consumers make purchase Decisions by offering factual information that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides

Informational Appeals

this type of advertising is a communication used to create and build brand awareness with the ultimate goal of moving the consumer through the vine cycle to a purchase and such advertising helps determine some important early stages of a product's lifecycle particularly when consumers have little information about the specific product or type of product

Informative Advertising

this is defined as the basic facilities services and installations needed for a community or Society to function such as transportation and communication systems water and power lines and public institutions such as schools press offices and prisons and marketers are concerned with 4 key elements of a country's blank which includes Transportation distribution channels Communications and Conference

Infrastructure

what type of advertising promotes a company Corporation business institution or organization it is not intended to sell a particular product or service an example would be G-Eazy comb agnation

Institutional Advertisemen

This represents the promotion dimension of the six peas, it encompasses a variety of communication disciplines such as 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 disable programs also regard each of the firm's marketing communication channels as a part of a whole Each of which offers a different means to connect with the target audience

Integrated Marketing Communications

when supply chain members view their goals in Ultimate success as trickdilly linked they develop deeper long-term relationship this between supply chain members that is based on mutual benefits is key to developing and sustaining the relationship

Interdependence

this is formed when a firm entering a market pools as Resources with those of a local firm as a consequence of ownership control and profits are shared in addition to shine Financial burdens a local partner offers the foreign entrance greater understanding of the market and access to resources such as vendors in real estate

Joint Venture

this type of system is also known as quick response inventory systems and retailing are Inventory management systems that deliver less merchandise on a more frequent basis ban in traditional inventory systems oh, and the firm gets the merchandise just in time for it to be used in the manufacturing of another product or for sale when the customer wants it the benefits of using this system include reduce lead time which is the amount of time between recognition that an order needs to be placed in the arrival of the needed merchandise at the seller store available for sale increase productive ability and lower inventory investment

Just in Time Inventory System

this effect is a delayed response to a marketing Communications campaign, It generally takes several exposures to a campaign before consumer fully processes its message

Lagged Effect

This tactic attempts to build store traffic by aggressively pricing and advertising a regular purchase item Austin priced at or just above the stores cost this fuels happy hours at restaurants and bars all over the country

Leader Pricing

This is when consumers pay a fee to purchase the right to use a product for a specific amount of time they never actually own the product and this opens up new less price-sensitive Target markets

Lease/Rental

this type of power is based on getting a channel member to behave in a certain way because of contractual agreements between the two firms. For example as Walmart deals with a with its suppliers it's likely experts multiple types of power to influence their behaviors if either party just likes the way their relationship is going so it can simply walk away

Legitimate Power

This type of pricing lower the price below the stores cost no doubt you've seen buy one get one free offers at grocery stores and discount stores unless the market for the item is 100% of the cost these sales obviously do not generate enough revenue from the sale of one unit to cover the stores cost for both units

Loss Leader Pricing

disable sales promotion are typically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time if they are well-designed they encourage consumers to increase their engagement in purchases from a given firm

Loyalty Programs

Manufacturers often encourage retailers to sell their merchandise at a specific price and these are set to reduce retail price competition among retailers stimulate retailers to provide complimentary services and support the manufacturer's merchandise

Manufacturer's Suggested Retail Price MSRP

These are the reductions retailers take on the initial selling price of a product or service

Markdowns

Also referred to as 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 at the right time

Marketing Channel Management-

this channel includes outdoor Billboards newspapers magazines radio and television xandar a deal for reaching large numbers of anonymous audience members

Mass Media

This profit strategy relies primarily on economic theory, if a firm is able to accurately specify a mathematical model that captures all of the factors required to explain and predict sales and profits

Maximizing Profits

the actual purchase of airtime or print pages is generally the largest expense in an advertising budget and marketers must make their decisions carefully

Media Buy

This refers to the process of evaluating and selecting the media mix but combination of the media used and the frequency of advertising in each medium that will deliver a clear consistent compelling message to the intended audience for example Macy's May determine that a heavy dose of Television radio print and billboards is appropriate for the holiday selling season between Thanksgiving and the end of the year

Media Planning

this type of marketing is through Wireless handheld devices such as cell phones

Mobile Marketing

this type of management is technology that uses a wireless network and a mobile device that receives demanded a vacation and enables a speedy response this solution allows the associate closest to the ordered items with been verified availability

Mobile Task Mangement

This process refers to when one firm provides the product or service in a particular industry which results in less price competition an example of this would include Sirius XM Radio

Monopoly

The 4 Levels of Competition;

Monopoly Monopolistic Competition Oligopoly Pure Competition

this is the element that hold a strategic relationship together and it is the belief that the pardoner is honest being reliable stands by its word sincere fulfills obligations and benevilla concerned about the other party's welfare vendors and buyers do this they are more willing to share relevant ideas clarify goals and problems and communicate efficiently

Mutual Trust

this type of media channel is more focused and generally used to reach narrow segments often with unique demographic characteristics or interest

Niche Media

this is any interference that stems from competing messages such as a lack of clarity in the message or a flaw in the median, poses a problem for all communication channels

Noise

This type of discount is still a quantity discount but it is based only on the amount purchased in a single order, therefore providing the buyer with an incentive to purchase more merchandise immediately for example a retail store might get a 40% discount off the manufacturer's suggested retail price for placing a $500 order

NonCumlative Quanity Discount

this 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 reaches target market and how much it will cost to run the number and types of communication is necessary to achieve these objectives

Objective and Task Method

This level of competition is when only a few firms dominate, firms typically change their prices and reaction to competition to avoid upsetting otherwise stable competitive environments examples of this type of competition include the soft drink Market in commercial airline travel

Oligopolistic Competition

in order to share information develop sales forecast together and coordinate deliveries Walmart and its suppliers need to maintain this by doing this it is a key element of developing successful relationships because supply chain members need to understand what is driving each other's businesses there rules in the relationship firm strategies in any problems that arise over the course of the relationship

Open Communication

This strategy sets the initial prices low for the introduction of the new product or service and its objective is to build sales market share and profits quickly and The Tear competition from entering a market

Penetration Pricing Strategy

this rule of thumb is the communication budget is a fixed percentage of its forecasted sales and it assumes the same percentage used in the past or by competitors

Percentage of Sales

this is the two-way flow of communication between a buyer and a seller that is designed to influence the buyers purchase decisions this can take place in a variety of settings such as face-to-face video teleconferencing on the telephone or over the internet

Personal Selling

This type of advertising is used when a product has gained a certain level of brand awareness and is used to motivate consumers to take action this type of advertising 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

Persuasive Advertising

this type of ticket is a document or display on a screen in a forklift truck indicating how much of each item to get from specific storage areas

Pick Ticket

these are employees responsible for the financial planning and Analysis of merchandise and its allocation to stores

Planners

this type of sales promotion our merchandise displays located at the point of purchase such as at the checkout counter in a supermarket these have long recognized with the most valuable real estate in the store is at the p o p because they increase product visibility and encourage trial

Point of Purchase Displays

this 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 the advertisement campaign

Posttesting

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

Power

This occurs when a firm sets a very low price for one or more of its products with the intent of driving its competition out of business oh, this is illegal in the United States under both the Sherman Antitrust Act and the Federal Trade Commission Act

Predatory Pricing

When a firm sets a very low price for one or more of its products with the intent to drive its competition out of business this is illegal under both the Sherman Antitrust Act and the Federal Trade Commission act because it contains free trade and represents a form of unfair competition

Predatory Pricing

this type of sales promotion offers and item for free or at a bargain price to reward some type of behavior such as buying sampling AR testing these build Goodwill among consumers who will often perceive high value in them

Premium

Refers to when the firm deliberately prices a product above the prices set for competing products so as to capture those customers who always shop for the best or for whom price does not matter

Premium Pricing

When consumers purchase for their status rather for their functionality. The higher the price, the greater the status associated with and the greater the exclusive because fewer people can afford to purchase it.

Prestige Products/Services

this 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

Pretesting

This is the practice of selling more than one product for a single lower price and firms do this to encourage customers to stock up so they won't competing Brands to encourage trial of a new products or provide an incentive to purchase a less desirable product or service to obtain a more desirable one in the same bundle

Price Bundling

When firms sell the same product different resellers such as wholesalers distributors or retailers at different prices this is considered blank usually larger firms receive lower costs

Price Discrimination

This measures how changes in price affect the quantity of the product demanded, specifically the ratio of the percent change in quantity demanded, divided by the percent change in price

Price Elasticity of Demand

This is the practice of colluding with other firms to control prices this might be either horizontal or vertical

Price Fixing

When marketers establish a price floor and a price ceiling for an entire line of similar products and then set a few other price points in between to represent distinct differences in quality

Price Lining

This strategy appeals to the segment of consumers who are willing to pay the premium price to have the Innovation first this tactic is particularly common and Technology markets where sellers know the customers of the hottest coolest products will wait in line for hours desperate to be the first to own the newest version

Price Skimming

This occurs when two or more firms compete primarily by lowering their prices

Price War

This is a long-term approach to setting prices broadly in and integrative effort across all the firm's products based on the 5 C's of pricing which are company objectives cost customers competition in channel members

Pricing Strategy

This offers short-term methods to focus on select components of the 5 C's generally also represents either a short-term response to a competitive threat example of being lowering price temporarily to meet a competitor's price reduction or a broadly accepted method of calculating final price for the customer that is short-term in nature

Pricing Tactics

these type of advertisements inform persuade or remind consumers about a specific product or service

Product Focused Advertisements

this type of sales promotion refers to when marketers pay to have their products included in non-traditional situations such as in the scene of a movie or television program by doing so the increase the other products

Product Placement

This type of orientation specifically focuses on target pricing, maximizing profits, or target return pricing

Profit Orientation

this involves managing Communications in relationships to achieve various objective such as building and maintaining a positive image of the firm handling or heading off on favorable stories or events and maintaining positive relationships with the media and many cases these activities support other promotional efforts by generating free media attention in general Goodwill

Public Relations

deceptive advertising focuses on public welfare genuinely they are sponsored by non-profit institution Civic groups religious organizations trade associations or political groups they also inform persuade to remind consumers but the focus is for the betterment of society

Public Service Advertising (PSA)

this refers to the legal exaggeration of Praise stopping just short of deception lavished on a product

Puffery

this is the objective in advertising to consumers in which the goal is to get consumers to pull the product into the marketing channel by demanding it these also exist and are designed to increase Demand by focusing on wholesalers retailers or salespeople an attempt to motivate the seller to highlight the product rather than the products of competitors and thereby push the product to Consumers

Pull Strategy

the type of advertising schedule combines The Continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity During certain periods for example Airlines hotels and car rental companies my continuously advertise to ensure brand awareness but might increase advertising and spikes during a certain low demand periods

Pulsing Scheduling

this is a theory that states that if the exchange rates of 2 consumers are in equilibrium a product purchase in one will cost the same and the other expressed in the same currency

Purchasing Power Parity

This type of competition is when a large number of sellers offer standardized products or Commodities that consumers perceive as substitutable such as grains gold meat spices or minerals in this market price usually is set according to the laws of supply and demand

Pure Competition

This provides a reduced price according to the amount purchased the more the buyer purchases the higher the discount and of course the greater the value

Quantity Discount

this designates a minimum or maximum quantity of a product that may be brought into a country during a specified time. China for instance how to plan to allow at least 2.285 million barrels per day of crude oil from the Independent refineries to be imported up the quota without a tariff increase in the possibility of smaller independent companies

Quota

this type of tags are tiny computer chips that automatically transmitted to a special scanner all the information about a container's contents or individual products

Radio Frequency Identification Tags

this describes the percentage of the target population exposed to a specific marketing communication such as an advertisement at least once

Reach

Please provide another form of discounts for consumers off the final selling price and this case however the manufacturer instead of the retailer issue the refund as a portion of the purchase price returned to the buyer in the form of cash this promises savings usually mailed to the consumer at some later date only if the consumer carefully follows the rules

Rebates

this type of sales promotion are a particular type of price reduction in which a portion of the purchase price is returned by the seller to the buyer in the form of cash any products such as consumer electronics offer significant mail in blank that may lower the price of the items significantly

Rebates

each receiver decodes a message in his or her own way which is not necessarily the way the sender's intended different people showing the same message will often take radically different meanings from it

Receivers Decode Messages Differently

this is the process of recording the receipt of merchandise as it arrives at a distribution center

Receiving

This is the price against which buyers compare the actual selling price of the product and that facilitates their evaluation process the seller then labels this price as the regular price or as the original price

Reference Price

this type of power exists if a supplier desperately wants to be associated with Walmart because being known as an important Walmart supplier and Abel's. Supplier to attract other retailers business. In this sense P&G might be playing its Retail Partners against one another to enhance Ascend performance

Referent Power

this describes how useful an ad message is to the consumer doing the search

Relevance

this type of 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 also encompasses other forms of advertising

Reminder Advertising

An example of this would be Ace Hardware as it helps its members achieve economies of scale by buying as a group, in a sense this is similar to a wholesaler except in this case the retailers have some control over and sometimes ownership in the operation of the cooperative

Retailers Cooperative

this type of power is when rewards are offered often a monetary incentive and the firm I promise to purchase larger quantities if a manufacturer will lower its wholesale price

Reward Power

these type of methods are used prior to sales and communication activities to determine the present communication budget although easy to implement they have various limitations

Rule of Thumb Methods

This type of orientation sets prices believing that increasing sales will help the firm more than will increasing profits

Sales Orientation

these 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

Sales Promotions

this type of promotions are special incentives or excitement building programs such as coupons rebates contests free samples and point-of-purchase displays that encourage the purchase of a product or service

Sales Promotions

this type of sales promotion offers potential customers the opportunity to try a product or service before they make it buying decision, this is one of the most costly sales promotion tools but also one of the most effective

Sampling

this is when she is using Google AdWords a search engine marketing tool offered by Google that allows advertisers to show up in a sponsored link section of the search results page based on keywords potential consumers use

Search Engine Marketing

These are offered to Consumers are price reductions offered on products and services to stimulate demand during off-peak seasons examples being hotel rooms ski lift ticket snowmobiles lawn mower Rose & BBQ grills

Seasonal Discounts

Unlike seasonal discounts offered to Consumers a seasonal discounts way business is an additional reduction offered as incentive to retailers to order merchandise in advance of normal buying season

Seasonal Discounts

What are the 3 potential global products strategies?

Sell the same product or service in both the Home Country Market and the host country referred to as glass lies ation sell a product or service similar to that sold in the same home country but include minor adaptations sell totally new products or services

Different media communicates in varied ways so marketers make adjustments to their messages in media depending on whether they want to communicate with suppliers shareholders customers general public or even specific segments of those groups

Senders Adjust Messages According to the Medium and Receivers Traits

The most common implementation of a quantity discount at the consumer level

Size Discount

These are fees paid to retailers simply to get new products in stores or to gain more better shelf space for their products oh, some argue that this is unethical because they put small manufacturers that cannot really afford allowances at a competitive disadvantage

Slotting Allowances

psa's represent this and is defined as the application of marketing principles to a social issue to bring about additional and behavioral change among the general public or specific population segment

Social Marketing

refers to online and mobile technologies that distribute content to facilitate interpersonal interactions the three most popular of these are YouTube Facebook and Twitter

Social Media

Is the use of the internet to communicate about product preferences with other shoppers

Social Shopping

This is a type of competitive orientation strategy in which firms change their prices only to meet those of competition. An example would be when Delta increases its average fares, so does American Airlines and United

Status Quo Pricing

What is the Merchandier Flow Steps?

Step 1: Sony to Best Buy's distribution centers Step 2: Sony directly to stores Step 3: if the merchandise goes through distribution centers it is then shipped to stores Step 4: then to the customer

after the merchandise is received and checked it is either stored or across talked, when merchandise is stored the cartons are transported by a conveyor system and forklift trucks to racks that go from the distribution centers floor to its ceiling then when it's needed in the stores a forklift driver or robot goes to the rack pics of the car and then places it on the conveyor system

Storing and Cross Docking

This refers to the collaborative relationships between independent firms through the partnering firms do not create an equity partnership that is they do not invest in one another for example the music streaming service Spotify with headquarters in Sweden and the right sharp being a uber with headquarters in San Francisco have a strategic Alliance which allows Uber customers to use Spotify do controlling music during the ride

Strategic Alliances

also referred to as a partner relationship is when the marketing channel members are committed to maintaining their relationship over the long-term and investing and opportunities that are mutually beneficial these relationships are created to explicitly uncover and exploit opportunities

Strategic Relationships

is a smaller headline which provides more information about the alarm it is selling specifically it screams for your safety

Subheadline

These would be products such as Sprite and Mountain Dew which relate to changes in their demand are negatively related

Substitute Products

This type of effect refers to a consumer's ability to substitute other products for the focal brand. The greater the availability of substitute products, the higher the price elasticity of demand for any given product will be

Substitution Effect

this type of sales promotion offers prices based on a chance of drawing of entrance names and do not require the entrance to complete a task other than buying a ticket for filling out a form the key benefit of this is that they encourage consumers to consume more if it appears inside the packaging of what the product

Sweepstakes

This type of pricing is when firms implement this when they have a particular profit goal as their overriding concern. In order to meet this, firms use price to stimulate a certain level of sales at a certain profit per unit

Target Product Pricing

This pricing strategy employs the pricing strategy designed to produce a specific return on their investment that is usually expressed as a percentage of sales

Target Return Pricing

also referred to as a duty is a tax levied on a good imported into a country in most cases these are intended to make imported goods more expensive and less less competitive with domestic products which in turn protect domestic industries from foreign competition

Tariff

What is Flow 1 in the Information Flow?

The sales associate at Best Buy scans the universal product code tag on the HTV packaging and the customer receives a receipt (Customer to Store)

this process refers to a fixing price and identification labels to the merchandise it is more efficient for a retailer to perform these activities at a distribution center than it is in their stores

Ticketing and Marking

this is the highest level of awareness there is an occurs when consumers mention a specific brand name first when they're asked about a product or service for example Harley-Davidson has top-of-mind awareness of a consumer responds Harley when asked about American-made motorcycles

Top Mind Awareness

These are the cost that simply sum up the variable and fixed costs

Total Cost

this 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

Tracking

marketers must consider blank to which a particular country is a signatory or the trading blow to which it belongs this is an intergovernmental agreement designed to manage and promote trade activities for a specific region and a trading Bloc consists of those countries that have signed the particular trade agreement

Trade Agreements

United States suffers from this which means that the country Imports more Goods than it exports for you as marketers this can signal the potential for greater competition at home from foreign producers

Trade Deficits

this refers to when a firm has a higher level of exports than they do Imports because it signals a greater opportunity to export products to more markets

Trade Surplus

This type of pricing tactic is when the shipper charges one right no matter where the buyers located which makes things very simple for both the seller and the buyer

Uniformed Delivered Pricing

Often the common theme or slogan in an advertising campaign a good USP communicates the unique attributes of the product and thereby becomes a snapshot of the entire campaign some of the most famous USPS include Red Bulls give gives you wings Ford's built Ford tough

Unique Selling Proposition

This method is when a firm approaches to setting prices that focus on the overall value of the product offering as perceived by the consumer, consumers determine this by comparing the benefits they expect the product to deliver with the sacrifice they will need to make to acquire the product

Value Based Pricing Methods

These are the cost that primary labor and materials that vary with production in volume, as a firm produces more or less of a good or service these cost increase or decrease at the same time

Variable Costs

this is an approach for improving marketing channel efficiency in which the manufacturer is responsible for maintaining the Retailer's inventory levels in each of its stores

Vendor Managed Inventory

this type of conflict is when supply chain members that buy and sell to one another are not in agreement about their goals roles or Rewards

Vertical Channel Conflict

this type of system is a marketing channel in which the members act as a unified system

Vertical Marketing System

This occurs when parties at different levels of the same marketing channel such as manufacturers and retailers agreed to control the price has passed on to Consumers

Vertical Price Fixing

This type of program encourages people to pass along a marketing message to other potential consumers to keep track of sales at Reliant on Walmart's internet-based retail link system

Viral Marketing Program

this type of software measures how much time do you spend on particular web pages the number of pages they've you and how many times users click banner ads lights they came from and so on

Web Tracking Software

Firms have increased their emphasis on communicating with customers through _____ they use these to build their brand image and educate customers about their products or Services as well as where they can be purchased

Websites

These are the firms that buy products from manufacturers and resell them to retailers, retailers sell products directly to Consumers examples include Walmart being a massive retailer in many of its products come from massive partner such as Procter & Gamble

Wholesalers

This type of tactic sets different prices depending on the geographic division of the delivery areas for example a manufacturer based in New York City might to buy the United States into seven different zones and use different shipping rates for each Stone to reflect the average shipping cost for customers located there in

Zone Pricing

What is Flow 4 in the Information Flow?

in some situations the sales transaction data are sent directly from the store to the manufacturer and the manufacturer decides when the ship more merchandise to the distribution centers in the store (Store to Manufacturer)

What is Flow 5 in the Information Flow

stores also communicate with Best Buy Distribution Center to coordinate deliveries in check inventory status (Store to Distribution Center)

What is Flow 2 in the Information Flow?

the point-of-sale terminal records the purchase information and electronically send it to the buyer at Best Buy's corporate office (Store to Buyer)

What is Flow 3 in the Information Flow?

the purchase information from each Best Buy stores typically aggravated by the retailer as a whole which creates an order for the new merchandise and sent it to Sony (Buyer to Manufacturer)

What is Flow 6 in the Information Flow?

when a manufacturer ships that hgtv's to the Best Buy Distribution Center at Shenzhen Advanced shipping notice to the distribution center, and advanced shipping notice is an electronic document at the supplier sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment