Chapter 2 Flashcards
Industrial distributors/wholesalers
intermediaries between manufacturers and customers
Value Added resellers
provide customized services and systems to their customers based on specific needs, often providing unique expertise in product/system integration.
End Users
manufacturers who purchase goods and services and use them as supplies or materials to make new products such that the identity of the purchased product is lost.
Original Equipment Manufacturers
buy goods and incorporate into their products and sell to customers, typically largest volume users of goods and services. (Goodyear)
Raw Material Producers
seek “added value” positions unrelated to core product, often lose identity when combined into customer products
Component Part Manufacturer
Component materials retain identity even after incorporation into customer’s product
Capital Goods Producers
Goods used to produce output, very expensive and risky purchases, made by people from a lot of different departments together in a lengthy process with the development of detailed specification notes for the supplier
Pure Competition
Many players, no single player has an effect on price, market much larger than any one player
Monopolistic competition
many buyers and sellers exist, but product is differentiable and many price points exist, offerings from each firm highly varied
Oligopolistic competition
Market has few sellers who are highly sensitive to others strategy and products may be similar or dissimilar with huge barriers to entry
Pure monopoly
Only one seller
Introduction - Marketing objective
create consumer awareness and trial
Introduction - Advertising objective
stimulate primary demand
primary demand
desire for product class, rather than brand
selective demand
demand for a specific brand
