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59 Cards in this Set
- Front
- Back
- 3rd side (hint)
supply chains
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sequence of linked suppliers and customers such that every customer is in turn a supplier to another customer until finished products reach consumers |
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reach and frequency in ads
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Reach is the number of different people exposed to an ad at least once during a certain time period; Frequency is the number of times one person is exposed to an ad during a certain period of time; (reach)(frequency) = gross rating point |
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Commercial viewing index
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measure of audience retention rate during the ads. It equals number of commercial viewers divided by the number of program views all multiple by 100
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advertising campaign
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series of ads messages that share single idea and theme. Can be different ads but same theme ex) All State Mayhem guy
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marketing channels
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group of interdependent organizations that help make a product or service available to consumers or business users. Decisions can affect other marketing mix decisions such as pricing product and promotions. can be a source of competitive advantage
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media research
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how many got the message? assesses how well medium delivered the message
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product placement
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non-personal selling in which the marketer pays to place a product in a movie or television show
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advertising flights
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scheduled unevenly over time period used during “best” purchase cycles (ex. Snowboards in the winter season Sunscreen in the summer)
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Logistics management
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decisions needed to move “products” from sources of raw materials to end user consumption. Made cost effectively while satisfying every customer’s requirements who are part of the chain. Major functions include: capabilities facilities
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psychological pricing
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ex) Smirnoff vs. Wolfschmidt Vodkas
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break-even analysis
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Total Revenue = Total Cost
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Anything above break-even is a chance to make a profit
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sales promotion
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short term incentives to encourage the purchaser or sales of a product or a service
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Corporate vertical marketing system
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A corporate vertical marketing system streamlines the process by bringing all of the elements of the distribution channel |
from manufacturing to the store under the ownership of a single business. (Luxottica eyewear Zara clothing chain) |
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Contractual VMS (franchises)
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the pieces of the distribution channel continue to operate as individual entities. (coca cola licenses bottlers (wholesalers) |
fast food
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Just-in-time concept
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An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process |
thereby reducing inventory costs.
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supply chains
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sequence of linked suppliers and customers such that every customer is in turn a supplier to another customer until finished products reach consumers
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reach and frequency in ads
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Reach is the number of different people exposed to an ad at least once during a certain time period; Frequency is the number of times one person is exposed to an ad during a certain period of time; (reach)(frequency) = gross rating point
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Commercial viewing index
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measure of audience retention rate during the ads. It equals number of commercial viewers divided by the number of program views all multiple by 100
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advertising campaign
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series of ads messages that share single idea and theme. Can be different ads but same theme ex) All State Mayhem guy
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marketing channels
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group of interdependent organizations that help make a product or service available to consumers or business users. Decisions can affect other marketing mix decisions such as pricing
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product
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media research
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how many got the message? assesses how well medium delivered the message
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product placement
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non-personal selling in which the marketer pays to place a product in a movie or television show
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advertising flights
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scheduled unevenly over time period used during “best” purchase cycles (ex. Snowboards in the winter season Sunscreen in the summer)
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Logistics management
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decisions needed to move “products” from sources of raw materials to end user consumption. Made cost effectively while satisfying every customer’s requirements who are part of the chain. Major functions include: capabilities and facilities
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psychological pricing
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ex) Smirnoff vs. Wolfschmidt Vodkas
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break-even analysis
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Total Revenue = Total Cost
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Anything above break-even is a chance to make a profit
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sales promotion
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short term incentives to encourage the purchaser or sales of a product or a service
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Corporate vertical marketing system
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A corporate vertical marketing system streamlines the process by bringing all of the elements of the distribution channel from manufacturing to the store under the ownership of a single business. (Luxottica eyewear Zara clothing chain)
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Contractual VMS (franchises)
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the pieces of the distribution channel continue to operate as individual entities. (coca cola licenses bottlers (wholesalers) fast food auto rentals motels franchisees) |
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Just-in-time concept
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An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process thereby reducing inventory costs.
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Merchant wholesalers |
independently owned business that takes title to the merchandise it handles. full and limited services offered
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Objectives of Promotion
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1. to inform (develop initial demand for a product and important for new entry into the marketplace)
2. to persuade (increase demand for an existing products & suited for the growth stage and early maturity stage of life cycle) 3. to remind (reinforce previous promotional activity by keeping the name of the product before the public and used during latte maturity stage and throughout the decline stage of the product life cycle |
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Optional Product Pricing
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A method of determining product costs whereby a business sets a low cost for its most basic product and then profits from selling more costly accessories. Optional product pricing is especially notable in the marketing of cell phones and computer printers that often have a very low initial entry price, while the cost of accessories like AC adaptors and printer ink is substantial.
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Exclusive distribution
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situation where supplies and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product (Bentleys, Versace)
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Publicity
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non-personal stimulation/inhibition of demand for a product through unpaid placement of significant news about it in all media
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Horizontal Marketing System
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2 or more companies combine financial, production, and/or marketing resources to accomplish more than what any one company could accomplish alone (McDonalds in Wal-Mart, starbucks in barnes and noble)
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Intensive Distribution
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A marketing strategy under which a company sells through as many outlets as possible, so that the consumers encounter the product virtually everywhere they go: supermarkets, drug stores, gas stations, and the like. Coca Cola, Tylenol
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Integrated Marketing Communications (IMC)
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coordinate all messages through different media so it can get to consumer, all promotional activities need to produce unified, customer focused message
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Guerrilla marketing
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innovative, low-cost ways of reaching their market; posters, flyers
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Disintermediation
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cutting out or displacing intermediaries (blockbuster, borders)
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Pre-testing vs Post Testing Ads
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Post- An ad research study that is aimed at determining if an ad that was already broadcast was remembered and liked; Pre- before ad is broadcast
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Captive product pricing
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Item made specifically for use with another item, usually from the same manufacture
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Shaving blades for a razor
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Disintermediation
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Cutting out if displacing intermediaries
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Blockbuster or Borders
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Break even analysis
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Anything a live break even is a chance to make a profit. Profitability occurs when sales>break even
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Total revenue=total cost
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Google AdWords
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Program that enables you to create advertisements which will appear on relevant Google search results pages and their network of partner sites
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Google AdWords
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Program that enables you to create advertisements which will appear on relevant Google search results pages and their network of partner sites
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Google AdSense
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Program that differs in that it delivers AdWords ads to individuals websites. Google than lays web publishers for the ads did paled in their site based on user clicks on ads or on ad impressions, depending on the type of ad.
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Optional Product Pricing
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A method of determining product costs whereby a business sets a low cost for its most basic product and then profits from selling more costly accessories. Optional product pricing is especially notable in the marketing of cellphones and coaster printers that have item a very low initial entry price, while the costs of accessories like AD adapters and print ink cartridges is substantial.
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Public Relations
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Firms communications and relationship with its various publics including, customers, suppliers, employees, stockholders, the govt., and general public
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Selective Distribution
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Type of product distribution that lies between intensive and exclusive distribution in which only a few retail outlets cover a specific geographical area. Considered more suitable for high end items
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An effective promotional message must accomplish all of the following:
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1. Gains the attention of the receiver of the information
2. Suggests an appropriate way of satisfying the consumers' needs 3. Achieves understanding between the sender and the receiver of the information 4. Stimulates the receivers needs |
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Disadvantage of using the Internet as an advertising medium:
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Audience controls ad exposure
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Branded Entertainment
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A company places its product in a movie scene
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Three primary rules of product advertisements are
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Informational, competitive, and reminder
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Everyday low pricing
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Involved charging a constant low price with few or no temporary price discounts
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The major difference between an off price retailer and a discount store is that off price retailers purchase merchandise from manufactures _________ and discount stores buy from wholesalers _________
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At below wholesale prices; at full price but take a less of a markup
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In the video shown in class, the advantages of online advertising shubas those offered through Google are that it is ______ and allows immediate assessment of its ______.
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Measurable; effectiveness
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________ is an external factor that affects pricing decisions.
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Competition
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SCM impacts all of the following in the marketing mix strategy
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Product decisions, pricing decisions, promotion decisions, and product availability decisions.
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