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MKTG 3010 > Exam 3 (Chpts 10-14) > Flashcards

Exam 3 (Chpts 10-14) Flashcards

1
Q

price

A

the assignment of value, or the amount the consumer must exchange to receive the offering

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2
Q

Bitcoin

A

The most popular and fastest growing digital currency

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3
Q

market share

A

The percentage of a market (defined in terms of either sales units or revenue) accounted for by a specific firm, product lines, or brands.

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4
Q

prestige products

A

Products that have a high price and that appeal to status-conscious consumers

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5
Q

price elasticity of demand

A

the percentage change in unit sales that results from a percentage change in price

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6
Q

elastic demand

A

Demand in which changes in price have large effects on the amount demanded

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7
Q

inelastic demand

A

Demand in which changes in price have little or no effect on the amount demanded

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8
Q

cross-elasticity of demand

A

when changes in the price of one product affect the demand for another item

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9
Q

variable costs

A

The costs of production (raw and processed materials, parts, and labor) that are tied to and vary, depending on the number of units produced.

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10
Q

fixed costs

A

Costs of production that do not change with the number of units produced

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11
Q

average fixed cost

A

the fixed cost per unit produced

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12
Q

total costs

A

the total of the fixed costs and the variable costs for a set number of units produced

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13
Q

break-even analysis

A

a method for determining the number of units that a firm must produce and sell at a given price to cover all its costs

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14
Q

break-even point

A

the point at which the total revenue and total costs are equal and beyond which the company makes a profit; below that point, the firm will suffer a loss

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15
Q

contribution per unit

A

the difference between the price the firm charges for a product and the variable costs

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16
Q

markup

A

An amount added to the cost of a product to create the price at which a channel member will sell the product

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17
Q

gross margin

A

The markup amount added to the cost of a product to cover the fixed costs of the retailer or wholesaler and leave an amount for a profit.

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18
Q

retailer margin

A

The margin added to the cost of a product by a retailer

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19
Q

wholesaler margin

A

The margin added to the cost of a product by a retailer

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20
Q

list price or manufacturer’s suggested retail price (MSRP)

A

The price that the manufacturer sets as the appropriate pra\ice for the end consumer to pay

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21
Q

vertical integration

A

the combining of manufacturing operations with channels of distribution under a single ownership to reduce costs and increase profits

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22
Q

shopping for control

A

Consumers, facing a world with terrorism and political unrest, value products and services that provide some degree of control, such as installing smart home technology or moving to gated communities.

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23
Q

cost-plus pricing

A

A method of setting prices in which the seller totals all the costs for the product and then adds an amount to arrive at the selling price.

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24
Q

keystoning

A

retail pricing strategy in which the retailer doubles the cost of the item (100 percent markup) to determine the price

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25
Q

demand-based pricing

A

a price-setting method based on estimates of demand at different prices

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26
Q

target costing

A

A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed: the product is manufactured only if the firm can control costs to meet the required price

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27
Q

yield management pricing

A

A practice of charging different prices to different customers to manage capacity while maximizing revenues

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28
Q

price leadership

A

A price strategy in which one firm first sets its price and other firms in the industry follow with the same or similar prices

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29
Q

value pricing or everyday low pricing (EDLP)

A

A pricing strategy in which a firm sets prices that provide ultimate value to customers

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30
Q

high/low pricing (also known as promo pricing)

A

A retail pricing strategy in which the retailer prices merchandise at list price but runs frequent, often weekly, promotions that heavily discount some products.

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31
Q

skimming price

A

A very high, premium price that a firm charges for its new, highly desirable product

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32
Q

penetration pricing

A

A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it

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33
Q

trial pricing

A

pricing a new product low for a limited period of time to lower the risk for a customer

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34
Q

price segmentation

A

the practice of charging different prices to different market segments for the same product

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35
Q

peak load pricing

A

A pricing plan that sets prices higher during periods with higher demand

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36
Q

surge pricing

A

A pricing plan that raises prices of a product as demand goes up and lowers it as demand slides

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37
Q

bottom of the pyramid pricing

A

Innovative pricing that will appeal to consumers with the lowest incomes by brands that wish to get a foothold in bottom of the pyramid countries

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38
Q

two-part pricing

A

Pricing that requires two separate types of payments to purchase the product

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39
Q

payment pricing

A

A pricing tactic that breaks up the total price into smaller amounts payable over time.

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40
Q

decoy pricing

A

A pricing strategy where a seller offers at least three similar products: two have comparable but more expensive prices and one of these two is less attractive to buyers, thus causing more buyers to buy the higher-priced more attractive item.

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41
Q

price bundling

A

Selling two or more goods or services as a single package for one price

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42
Q

captive pricing

A

A pricing tactic for two items that must be used together: one item is priced very low, and the firm makes its profit on another, high-margin item essential to the operation of the first item

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43
Q

F.O.B origin pricing (also known as F.OB factory pricing)

A

A pricing tactic in which the cost of transporting the product from the factory to the customer’s location is the responsibility of the customer.

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44
Q

F.O.B. delivered pricing

A

A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price and is paid by the manufacturer.

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45
Q

uniform delivered pricing

A

A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless of location.

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46
Q

freight absorption pricing

A

A pricing tactic in which the seller absorbs the total cost of transportation

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47
Q

trade discounts

A

Discounts off list price of products to members of the channel of distribution who perform various marketing functions.

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48
Q

quantity discounts

A

A ricing tactic of charging reduced prices for purchases of larger quantities of a product

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49
Q

cash discounts

A

A discount offered to a customer to entice them to pay their bill quickly

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50
Q

seasonal discounts

A

Price reductions offered only during certain times of the year

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51
Q

dynamic pricing

A

A pricing strategy in which the price can easily be adjusted to meet changes in the marketplace

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52
Q

Internet price discrimination

A

An Internet pricing strategy that charges different prices to different customers for the same product.

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53
Q

Online auctions

A

E-commerce that allows shoppers to purchase products through online bidding

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54
Q

freemium pricing

A

A business strategy in which a product in its most basic version is provided free of charge but the company charges money (the premium) for upgraded versions of the product with more features, greater functionality, or greater capacity.

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55
Q

Internal reference price

A

A set price or a price range in consumers’ minds that they refer to in evaluating a product’s price

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56
Q

price lining

A

The practice of setting a limited number of different specific prices, called price points, for items in a product line

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57
Q

prestige pricing or premium pricing

A

A pricing strategy used by luxury goods marketers in which they keep the price artificially high to maintain a favorable image of the product

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58
Q

bait-and-switch

A

An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item

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59
Q

loss-leader pricing

A

The pricing policy of setting prices very low or even below cost to attract customers into a store.

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60
Q

unfair sales acts

A

State laws that prohibit suppliers from selling products below cost to protect small businesses from larger competitors

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61
Q

price-fixing

A

The collaboration of two or more firms in setting prices, usually to keep prices high

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62
Q

predatory pricing

A

An illegal pricing strategy in which a company sets a very low price for the purpose of driving competitors out of business

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63
Q

physical distribution

A

The activities that move finished goods from manufactures to final customers, including order processing, warehousing, materials handling, transportation, and inventory control

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64
Q

direct channel

A

A channel of distribution in which a manufacturer of a product or creator of a service distributes directly to the end customer.

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65
Q

channel intermediaries

A

firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user. An older term for intermediaries is middlemen.

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66
Q

breaking bulk

A

Dividing larger quantities of goods into smaller lots in order to meet the needs of buyers.

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67
Q

create assortments

A

To provide a variety of products in one location to meet the needs of buyers

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68
Q

transportation and storage

A

Occurs when retailers and other channel members move the goods from the production point to other locations where they can hold them until consumers want them

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69
Q

facilitating functions

A

Functions of channel intermediaries that make the purchase process easier for customers and manufacturers.

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70
Q

risk-taking functions

A

The chance retailers take on the loss of a product when they buy a product from a manufacturer because the product sits on the self because no customers want it.

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71
Q

communication and transaction functions

A

Happens when channel members develop and execute both promotional and other types of communication among members of the channel

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72
Q

disintermediation (of the channel of distribution)

A

The elimination of some layers of the channel of distribution to cut costs and improve the efficiency of the channel

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73
Q

knowledge management

A

A comprehensive approach to collecting, organizing, storing, and retrieving a firm’s information assets.

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74
Q

intranet

A

An internal corporate communication network that uses Internet technology to link company departments, employees, and databases

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75
Q

online distribution piracy

A

The theft and unauthorized repurposing of intellectual property via the Internet

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76
Q

wholesaling intermediaries

A

Firms that handle the flow of products from the manufacturer to the retailer or business user

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77
Q

Independent intermediaries

A

Channel intermediaries that are not controlled by any manufacturer but instead do business with many different manufacturers and many different customers

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78
Q

merchant wholesalers

A

Intermediaries that buy goods from manufacturers (take title to them) and sell to retailers and other B2B customers

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79
Q

take title

A

To accept legal ownership of a product and assume the accompanying rights and responsibilities of ownership.

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80
Q

full-service merchant wholesalers

A

Wholesalers that provide a wide range of services for their customers, including delivery, credit, product-use assistance, repairs, advertising, and other promotional support

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81
Q

limited-service merchant wholesalers

A

Wholesalers that provide fewer services for their customers

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82
Q

merchandise agents or brokers

A

Channel intermediaries that provide services in exchanges for commissions but never take title to the product

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83
Q

channel levels

A

The number of distinct categories of intermediaries that make up a channel of distribution

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84
Q

dual or multiple distribution systems

A

A system where producers, dealers, wholesalers, retailers, and customers participate in more than one type of channel

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85
Q

Hybrid marketing system

A

A marketing system that uses a number of different channels and communication methods to serve a target market

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86
Q

subscription boxes

A

A new business model for distribution that supplies surprises by sending out a box each month filled with items you never knew you wanted but you just have to have

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87
Q

slotting allowance

A

A fee paid in exchange for agreeing to place a manufacturer’s products on a retailer’s valuable shelf space

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88
Q

product diversion

A

The distribution of a product through one or more channels not authorized for use by the manufacturer of the product

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89
Q

diverter

A

An entity that facilitates the distribution of a product through one or more channels not authorized for use by the manufacturer of the product.

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90
Q

distribution planning

A

The process of developing distribution objectives, evaluating internal and external environmental influences on distribution, and choosing a distribution strategy.

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91
Q

distribution intensity

A

The number of intermediaries at each level of the channel

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92
Q

conventional marketing system

A

A multiple-level distribution channel in which channel members work independently of one another

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93
Q

vertical marketing system (VMS)

A

A channel of distribution in which there is formal cooperation among members at the manufacturing, wholesaling, and retailing levels.

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94
Q

administered VMS

A

A vertical marketing system in which channel members remain independent but voluntarily work together because of the power of a single channel member

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95
Q

corporate VMS

A

A vertical marketing system in which a single firm owns manufacturing, wholesaling, and retailing operations

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96
Q

contractual VMS

A

A vertical marketing system in which cooperation is enforced by contracts (legal agreements) that spell out each member’s rights and responsibilities and how they will cooperate

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97
Q

Retailer cooperative

A

A group of retailers that establishes a wholesaling operation to help them compete more effectively with the large chains.

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98
Q

franchise organizations

A

A contractual vertical marketing system that includes a franchiser (a manufacturer or a service provider) who allows an entrepreneur (the Franchisee) to use the franchise name and marketing plan for a fee

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99
Q

horizontal marketing system

A

An arrangement within a channel of distribution in which two or more firms at the same channel level work together for common purpose

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100
Q

intensive distribution

A

Selling a product through all suitable wholesalers or retailers that are willing to stock and sell the product

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101
Q

exclusive distribution

A

Selling a product only through a single outlet in a particular region

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102
Q

gray market

A

A distribution channel in which a product’s sale to a customer may be technically legal, but is at a minimum considered inappropriate by the manufacturer of the related product. Gray markets often emerge around high-end luxury goods sold through exclusive distribution

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103
Q

selective distribution

A

Distribution using fewer outlets than intensive distribution buy more than exclusive distribution

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104
Q

channel leader or channel captain

A

The dominant firm that controls the channel

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105
Q

channel power

A

The ability of one channel member to influence, control, and lead the entire channel based on one or more sources of power

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106
Q

channel cooperation

A

Occurs when producers, wholesalers, and retailers depend on one another for success

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107
Q

Channel conflict

A

Incompatible goals, poor communication, and disagreement over roles, responsibilities, and functions among firms at different levels of the same distribution channel that may threaten a manufacturer’s distribution strategy.

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108
Q

logistics

A

The process of designing, managing and improving the movement of products through the supply chain. Logistics includes purchasing, manufacturing, storage, and transport

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109
Q

reverse logistics

A

Includes product returns, recycling and material reuse, and waste disposal.

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110
Q

order processing

A

The series of activities that occurs between the time an order comes into the organization and the time a product goes out the door.

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111
Q

enterprise resource planning (ERP) systems

A

A software system that integrates information from across the entire company, including finance, order fulfillment, manufacturing, and transportation, and then facilitates sharing of the data throughout the firm.

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112
Q

warehousing

A

Storing goods in anticipation of sale or transfer to another members of the channel of distribution

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113
Q

distribution center

A

A warehouse that stores goods for short periods of time and that provides other functions, such as breaking bulk

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114
Q

materials handling

A

The moving of products into, within, and out of warehouses

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115
Q

transportation

A

The mode by which products move among channel members

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116
Q

Inventory control

A

Activities to ensure that goods are always available to meet customers’ demands

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117
Q

radio frequency identification (RFID)

A

Product tags with tiny chips containing information about the item’s content, origin, and destination

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118
Q

level loading

A

A manufacturing approach intended to balance the inventory holding capabilities and production capacity constraints of a manufacturer for a particular product through the implementation of a consistent production schedule employed both during and beyond periods of peak demand.

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119
Q

stock-outs

A

Zero-inventory situations resulting in lost sales and customer dissatisfaction

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120
Q

just in time (JIT)

A

Inventory management and purchasing processes that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when needed.

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121
Q

supply chain

A

All the actives necessary to turn raw materials into a good or service and put it in the hands of the consumer or business customer

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122
Q

Inventory turnover or inventory turns

A

The number of times a firm’s inventory completely cycles through during a defined time frame.

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123
Q

supply chain management

A

The management of flows among firms in the supply chain to maximize total profitability

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124
Q

insourcing

A

A practice in which a company contracts with a specialist firm to handle all of part of its supply chain operations

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125
Q

retailing

A

The final stop in the distribution channel in which organizations sell goods and services to consumers for their personal use

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126
Q

wheel-of-retailing hypothesis

A

A theory that explains how retail firms change, becoming more upscale s they go through their life cycle

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127
Q

experiential merchandising

A

Tactic whose intent is to convert shopping from a passive activity into a more interactive one, by better engaging the customer.

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128
Q

destination retailer

A

Firm that consumers view as distinctive enough to become loyal to it. Consumers go out of their way to shop there

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129
Q

omnichannel (omni-channel) marketing

A

A retail strategy that provides a seamless shopping experience, whether the customer is shopping online from a desktop or mobile device, by telephone or in a brick-and-mortar store

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130
Q

point-of-sale (POS) systems

A

Retail computer systems that collect sales data and are hooked directly into the store’s inventory-control system.

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131
Q

perpetual inventory unit control system

A

Retail computer system that keeps a running total on sales, returns, transfers to other stores, and so on.

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132
Q

Automatic reordering system

A

Retail reordering system that is automatically activated when inventories reach a certain level

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133
Q

Beacon marketing

A

A retail marketing strategy in which beacon devices are place strategically throughout a store and emit a Bluetooth signal to communicate with shopper’s smartphones as they browse the aisles of the store.

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134
Q

Digital wallets

A

The use of Bluetooth technology that connects with customer smartphones and allows customers to pay for items without cash or even swiping a credit card

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135
Q

experiential shoppers

A

Shoppers who shop because it satisfies their experiential needs, that is, their desire for fun.

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136
Q

retailtainment

A

The use of retail strategies that enhance the shopping experience and create excitement, impulse purchases, and an emotional connection with the brand

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137
Q

shrinkage

A

Losses experienced by retailers as a result of shoplifting, employee theft, and damage to merchandise.

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138
Q

Organized retail crime (ORC)

A

Retail shoplifting by organized gangs of thieves that get away with thousands of dollars in goods in a single day.

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139
Q

Retail borrowing

A

The consumer practice of purchasing a product with the intent to return the nondefective merchandise for a refund after it has fulfilled the purpose for which it was purchased

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140
Q

Customer profiling

A

The act of tailoring the level of customer service based on a customer’s perceived ability to pay

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141
Q

Service retailer

A

Organization that offers consumers services rather than merchandise. Examples include banks, hospitals, health spas, doctors, legal clinics, entertainment firms, and universities.

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142
Q

Merchandise mix

A

The total set of all products offered for sale by a retailer, including all product lines sold to all consumer groups

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143
Q

Combination stores

A

Retailers that offer consumers food and general merchandise in the same store

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144
Q

Supercenters

A

Large combination stores that combine economy supermarkets with other lower-priced merchandise

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145
Q

Merchandise assortment

A

The range of products a store sells

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146
Q

Merchandise breadth

A

The number of different product lines available

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147
Q

Merchandise depth

A

The variety of choices available for each specific product line.

148
Q

Convenience Stores

A

Neighborhood retailers that carry a limited number of frequently purchased items and cater to consumers willing to pay a premium for the ease of buying close to home.

149
Q

Supermarkets

A

Food stores that carry a wide selection of edibles and related products

150
Q

Box stores

A

Food stores that have a limited selection of items, few brands per item, and few refrigerated items

151
Q

Specialty stores

A

Retailers that carry onl y a few product lines but offer good selection within the lines that they sell

152
Q

Category killer

A

A very large specialty store that carries a vast selection of products in its category.

153
Q

leased departments

A

Departments within a larger retail store that an outside firm rents

154
Q

variety stores

A

Stores that carry a variety of inexpensive items

155
Q

general merchandise discount stores

A

REtailers that offer a broad assortment of items at low prices with minimal service

156
Q

off-price retailers

A

Retailers that buy excess merchandise from well-known manufactures and pass the savings on to customers

157
Q

warehouse club

A

Discount retailers that charge a modest membership fee to consumers who buy a broad assortment of food and nonfood items in bulk and in a warehouse environment

158
Q

Factory outlet store

A

A discount retailer, owned by a manufacturer, that sells off defective merchandise and excess inventory

159
Q

Department stores

A

Retailers that sell a broad range of items and offer a good selection within each product line

160
Q

Bifurcated retailing

A

With the decline of middle-of-the-market retailing, both mass merchandising and niche retailing dominate the retail market

161
Q

Hypermarkets

A

REtailers with the characteristics of both warehouse stores and supermarkets; hypermarkets are several times larger than other stores and offer virtually everything from grocery items to electronics

162
Q

pop-up stores

A

Retail stores, such as Halloween costume stores, that “pop up” one day and then disappear after a period of one day to a few months

163
Q

Nonstore retailing

A

Any method used to complete an exchange with a product end-user that does not require a customer visit to a store

164
Q

B2C e-commerce

A

Online exchanges between companies and individual consumers

165
Q

M-commerce

A

Promotional and other e-commerce activities transmitted over mobile phones and other mobile devices, such as smartphones and personal digital assistance

166
Q

Virtual experiential marketing

A

An online marketing strategy that uses enhancements, including colors, graphics, layout and design, interactive videos, contests, games, and giveaways, to engage experiential shoppers online

167
Q

shopping cart abandonment

A

Occurs when e-commerce customers leave an e-commerce site with unpurchased items in their cart

168
Q

Direct selling

A

An interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders, and delivers the merchandise

169
Q

Green River Ordinances

A

Community regulations that prohibit door-to-door selling unless prior permission is given by the household

170
Q

party plan system

A

A sales technique that relies heavily on people getting caught up in the “group spirit,” buying things they would not normally buy if they were alone

171
Q

multilevel or network marketing

A

A system in which a master distributor recruits other people to become distributors, sells the company’s product to the recruits, and receives a commission on all the merchandise sold by the people recruited

172
Q

pyramid schemes

A

An illegal sales technique that promises consumers or investors large profits from recruiting others to join the program rather than from any real investment or sale of goods to the public

173
Q

intangibles

A

Experience-based products

174
Q

services

A

Intangible products that are exchanged directly between the producer and the customer

175
Q

intangibility

A

The characteristic of a service that means customers can’t see, touch, or smell good service

176
Q

Perishability

A

The characteristic of a service that makes it impossible to store for later sale or consumption

177
Q

Capacity management

A

The process by which organizations adjust their offerings in an attempt to match demand

178
Q

variability

A

The characteristic of a service that means that even the same service performed by the same individual for the same customer can vary

179
Q

Inseparability

A

The characteristic of a service that means that it is impossible to separate the production of a service from the consumption of that service

180
Q

Service encounter

A

The actual interaction between the customer and the service provide

181
Q

Disintermediation

A

The elimination of some layers of the channel of distribution to cut costs and improve the efficiency of the channel

182
Q

servicescape

A

The actual physical facility where the service is performed, delivered, and consumed

183
Q

SERVQUAL

A

A multiple-item scale used to measure service quality across dimensions of tangibles, reliability, responsiveness, assurance, and empathy

184
Q

gap analysis

A

A marketing research method that measures the difference between a customer’s expectation of service quality and what actually occurred.

185
Q

Place marketing

A

Marketing activities that seek to attract new businesses, residents, or visitors to a town, state, country, or some other site

186
Q

idea marketing

A

Marketing activities that seek to gain market share for a concept, philosophy, belief, or issue by using elements of the marketing mix to create or change a targe market’s attitude or behavior

187
Q

Integrated marketing communication (IMC)

A

A strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences.

188
Q

multichannel promotion strategy

A

A marketing communication strategy where they combine traditional advertising, sales promotion, and public relations activities with online buzz-building activities

189
Q

Word-of-mouth communication

A

When consumers provide information about products to other consumers

190
Q

communication model

A

The process whereby meaning is transferred from a source to a receiver

191
Q

source

A

An organization or individual that sends a message

192
Q

encoding

A

The process of translating an idea into a form of communication that will convey meaning.

193
Q

message

A

The communication in physical form that goes from a sender to a receiver

194
Q

medium

A

A communication vehicle through which a message is transmitted to a target audience

195
Q

receiver

A

The organization or individual that intercepts and interprets the message

196
Q

decoding

A

The process by which a receiver assigns meaning to the message

197
Q

noise

A

Anything that interferes with effective communication

198
Q

Feedback

A

Receivers’ reactions to the message

199
Q

promotion mix

A

The communication elements that the marketer controls

200
Q

Mass communication

A

Relates to TV, radio, magazines, and newspapers

201
Q

Hierarchy of effects

A

A series of steps prospective customers move through, from initial awareness of a product to brand loyalty

202
Q

top-down budgeting techniques

A

Allocation of the promotion budget based on management’s determination of the total amount to be devoted to marketing communication

203
Q

percentage-of-sales method

A

A method for promotion budgeting that is baed on a certain percentage of either last year’s sales or estimates of the present year’s sales.

204
Q

competitive-parity method

A

A promotion budgeting method in which an organization matches whatever competitors are spending

205
Q

bottom-up budgeting techniques

A

Allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish them

206
Q

objective-task method

A

A promotion budgeting method in which an organization first defines the specific communication goals it hopes to achieve and then tries to calculate what kind of promotion efforts it will take to meet these goals

207
Q

Push strategy

A

The company tries to move its products through the channel by convincing channel members to offer them

208
Q

pull strategy

A

The company tries to move its products through the channel by building desire for the products among consumers, thus convincing retailers to respond to this demand by tocking these items

209
Q

advertising

A

Nonpersonal communication from an identified sponsor using the mass media

210
Q

TV everywhere (also known as authenticated streaming)

A

The use of an Internet-enabled device, like a tablet or smartphone, to stream content from a cable or satellite provider

211
Q

product advertising

A

Advertising messages that focus on a specific good or service

212
Q

Institutional advertising

A

Advertising messages that promote the activities, personality, or point of view of an organization or company

213
Q

Corporate advertising

A

Advertising that promotes the company as a whole instead of a firm’s individual products

214
Q

advocacy advertising

A

A type of public service advertising where an organization seeks to influence public opinion on an issue because it has some stake in the outcome

215
Q

public service advertisements (PSAs)

A

Advertising run by the media for not-for-profit organizations or to champion a particular cause without charge

216
Q

Retail and local advertising

A

Advertising that informs consumers about store hours, location, and products that are available or on sale

217
Q

Advertising campaign

A

A coordinated, comprehensive plan that carries out promotion objectives and results in a series of advertisements placed in media over a period of time

218
Q

limited-service agency

A

An agency that provides one or more specialized services, such as media buying or creative development

219
Q

full-service agency

A

An agency that provides one or more specialized services, such as media buying or creative development

220
Q

account executive

A

A member of the account management department who supervises the day-to-day activities of the account and is the primary liaison between the agency and the client

221
Q

Account planner

A

A member of the account management department who combines research and account strategy to act as the voice of the consumer in creating effective advertising

222
Q

creating services

A

The agency people (creative director, copywriters, and art director) who dream up and produce the ads.

223
Q

research and marketing services

A

The advertising agency department that collects and analyzes information that will help account executives develop a sensible strategy and assist creatives in getting consumer reactions to different versions of ads.

224
Q

Media planners

A

Agency personnel who determine which communication vehicles are the most effective and efficient to deliver the ad.

225
Q

do-it-yourself (DIY) ads

A

Product ads that are created by consumers

226
Q

corrective advertising

A

Advertising that clarifies or qualifies previous deceptive advertising claims.

227
Q

puffery

A

Claims made in advertising of product superiority that cannot be proven true or untrue.

228
Q

greenwashing

A

A practice in which companies promote their products as environmentally friendly when in truth the brand provides little ecological benefit

229
Q

Creative strategy

A

The process that turns a concept into an advertisement

230
Q

Creative brief

A

A guideline or blueprint for the marketing communication program that guides the creative process

231
Q

Advertising appeal

A

The central idea or theme of an advertising message

232
Q

Unique selling proposition (USP)

A

An advertising appeal that focuses on one clear reason why a particular product is superior

233
Q

reminder advertising

A

Advertising aimed at keeping the name of a brand in people’s minds to be sure consumers purchase the product as necessary

234
Q

Teaser ad or mystery ad

A

Ads that generate curiosity and interest in a to-be-introduced product by drawing attention to an upcoming ad campaign without mentioning the product

235
Q

execution format

A

The basic structure of the message, such as comparison, demonstration, testimonial, slice of life, and lifestyle

236
Q

comparative advertising

A

Advertising that compares one brand with a second named brand

237
Q

slice of life advertising

A

A slice of life ad presents a (dramatized) scene from everyday life

238
Q

lifestyle advertising

A

Lifestyle ads show a person(s), attractive to the target market, in an appealing setting with the advertised product as “part of the scene,” implying that the person who buys it will attain the lifestyle

239
Q

tonality

A

The mood or attitude the message conveys (straightforward, humor, dramatic, romantic, sexy, and apprehension/fear)

240
Q

fear appeals

A

Advertisements that highlight the negative consequences of not using a product by either focusing on physical harm or social disapproval

241
Q

jingles

A

Original words and music written specifically or advertising executions

242
Q

slogans

A

Simple, memorable linguistic devices linked to a brand

243
Q

pretesting

A

A research method that seeks to minimize mistakes by getting consumer reactions to ad messages before they appear in the media

244
Q

media planning

A

The process of developing media objectives, strategies, and tactics for use in an advertising campaign

245
Q

posttesting

A

Research conducted on consumers’ responses to actual advertising messages they have seen or heard

246
Q

Unaided recall

A

A research technique conducted by telephone survey or personal interview that asks whether a person remembers seeing an ad during q specified period without giving the person the name of the brand

247
Q

Aided recall

A

A research technique that uses clues to prompt answers from people about advertisements they might have seen

248
Q

Attitudinal measures

A

A research technique that probes a consumer’s beliefs or feelings about a product before and after being exposed to messages about it

249
Q

Branded entertainment (also known as product placements or embedded marketing)

A

A form of advertising in which marketers integrate products into entertainment venues

250
Q

Advergaming

A

Brand placements in video games

251
Q

Native advertising

A

An execution strategy that mimics the content of the website where the message appears

252
Q

Support media

A

Media such as directories or out-of-home media that may be used to reach people who are not reached by mass-media advertising

253
Q

Out-of-home media

A

Communication media that reach people in public places

254
Q

Digital signage

A

Out-of-home media that transmit messages in public places, such as doctors offices and airports, where certain types of people congregate

255
Q

Place-based media

A

Advertising media that transmit messages in public places, such as doctors’ offices and airports, where certain types of people congregate

256
Q

Digital media

A

Media that are digital rather than analog, including websites, mobile or cellular phones, and digital videos, such as YouTube.

257
Q

Owned media

A

Internet sites, such as websites, blogs, Facebook, and twitter accounts, that are owned by an advertiser

258
Q

Paid media

A

Internet media, such as display ads, sponsorships, and paid key word searches, that are paid for by an advertiser

259
Q

Earned media

A

Word-of-mouth or buzz using social media where the advertiser has no control

260
Q

Banners

A

Internet advertising in the form of rectangular graphics at the top or bottom of web pages

261
Q

Buttons

A

Small banner-type advertisements that can be placed anywhere on a web page

262
Q

Pop-up ad

A

An advertisement that appears on the screen while a web page loads or after it has loaded

263
Q

Spam

A

The use of electronic media to send unsolicited messages in bulk

264
Q

Permission marketing

A

Email advertising in which online consumers have the opportunity to accept or refuse the unsolicited e-mail

265
Q

Search engines

A

Internet programs that search for documents with specified key words

266
Q

Search marketing

A

Marketing strategies that involve the use of internet search engines

267
Q

Ad fraud

A

The use of automated browsers to falsify the number of views or click-through a the advertisers must pay for

268
Q

Ad blocking

A

The use of powerful ad-blocking software created to stop ad fraud by stripping ads from the website at the network level

269
Q

Mobile hijacking

A

The use of automated browsers to falsify the number of views or click-through the advertisers must pay for

270
Q

Search engine marketing (SEM)

A

Search marketing strategies in which marketers pay for ads or better positioning

271
Q

Sponsored search sales

A

Paid ads that appear at the top or beside the internet search engine results

272
Q

Mobile advertising

A

A form of advertising that is communicated to the consumer via a handset

273
Q

Text message advertising

A

Delivering ads to consumers as mobile phone text messages

274
Q

Monetize

A

The act of turning an asset into money. Websites and mobile apps monetize their content through advertisers

275
Q

In-app advertising

A

To monetize free mobile phone apps, developers use advertising to create revenue and to engage the consumer

276
Q

QR code advertising

A

Qr (quick response) code advertising uses smartphone GPS technology to deliver ads and other information to consumers in stores and in other locations

277
Q

Video sharing

A

Uploading video recordings on to internet sites such as YouTube so that thousands or even millions of other internet users can see them

278
Q

Vlogs

A

Video recordings shared on the internet

279
Q

Media schedule

A

The plan that specifies the exact media to use and when to use it

280
Q

Reach

A

The percentage of the target market that will be exposed to the media vehicle

281
Q

frequency

A

The average number of times a person in the target group will be exposed to the message

282
Q

gross rating points (GRPs)

A

A measure used for comparing the effectiveness of different media vehicles: average reach x frequency

283
Q

cost per thousand (CPM)

A

A measure used to compare the relative cost-effectiveness of different media vehicles that have different exposure rates: the cost to deliver a message to 1,000 people or homes

284
Q

sales promotion

A

Programs designed to build interest in or encourage purchase of a product during a specified period

285
Q

rebates

A

Sales promotions that allow the customer to recover part of the product’s cost from the manufacturer.

286
Q

frequency programs

A

Consumer sales promotion programs that offer a discount or free product for multiple purchases over time; also referred to as loyalty or continuity programs

287
Q

premiums

A

Items offered free to people who have purchased a product

288
Q

product sampling

A

Distributing free trial-size versions of a product to consumers

289
Q

trade sales promotions

A

Promotions that focus on members of the “trade,” which include distribution channel members, such as retail salespeople or wholesale distributors, that a firm must work with in order to sell its products

290
Q

merchandising allowance

A

Reimburses the retailer for in-store support of the product

291
Q

case allowance

A

A discount to the retailer or wholesaler based on the volume of product ordered

292
Q

co-op advertising

A

A sales promotion where the manufacturer and the retailer share the cost

293
Q

trade shows

A

events at which many companies set up elaborate exhibits to show the products, give away samples, distribute product literature, and troll for new business contacts

294
Q

promotional products

A

Goodies such as mugs, T-shirts, and magnets given away to build awareness for a sponsor. Some freebies are distributed directly to consumers and business customers; others are intended for channel partners, such as retailers and vendors.

295
Q

Point of purchase (POP) displays

A

In-store displays and signs

296
Q

push money

A

A bonus paid by a manufacturer to a salesperson, customer, or distributor for selling its product

297
Q

groundswell

A

A social trend in which people use technology to get the things they need from each other rather than from traditional institutions like corporations

298
Q

social media

A

Internet-based platforms that allow users to create their own content and share it with others who access these sites

299
Q

social networks

A

Online platforms that allow a user to represent himself or herself via a profile on a website and provide and receive links to other members of the network to share input about common insterests

300
Q

brand community

A

A group of social network users who share an attachment to a product or brand, interact with each other and share information about the brand

301
Q

Twitter

A

A free microblogging service that lets users pst short text messages with a maximum of 140 characters

302
Q

virtual world

A

Online, highly engaging digital environments where avatars live and interact with other avatars in real time

303
Q

avatars

A

Graphic representations of users of virtual worlds

304
Q

virtual goods

A

Digital products consumers buy for use in online contexts

305
Q

product review sites

A

Social media sites that enable people to post stories about their experiences with goods and services.

306
Q

location-based social networks

A

Networks that integrate sophisticated GPS technology that enables users to alert friends of their exact whereabouts via their mobile phones.

307
Q

augmented reality (AR)

A

A view of physical, real-world that is enhanced or altered by computer-generated sounds, videos, graphics, or GPS data

308
Q

direct marketing

A

Any direct communication to a consumer or business recipient designed to generate a response in the form of an order, a request for further information, or visit to a store or other place of business for purchase of a product.

309
Q

catalog

A

A collection of products offered for sale in book form, usually consisting of product descriptions accompanied by photos of the items.

310
Q

direct mail

A

A brochure or pamphlet that offers a specific good or service at one point in time

311
Q

telemarketing

A

The use of the telephone to sell directly to consumers and business customers

312
Q

direct-resonse advertising

A

A direct marketing approach that allows the consumer to respond to a message by immediately contacting the provider to ask questions or order the product

313
Q

direct-response TV (DRTV)

A

Advertising on TV that seeks a direct response, including short commercials of less than two minutes, 30-minute or longer infomercials, and home shopping networks.

314
Q

infomercials

A

Half-hour or hour-long commercials that resemble a talk show but actually are sales pitches

315
Q

m-commerce

A

Promotional and other e-commerce activities transmitted over mobile phones and other mobile devices, such a smartphones and personal digital assistants

316
Q

personal selling

A

Marketing communication by which a company representative interacts directly with a customer or prospective customer to communicate about a good or service.

317
Q

partner relationship management (PRM)

A

Similar to a CRM, the PRM system allows both selling and buying firms to share some of their information.

318
Q

voice-over Internet protocol (VoIP)

A

Communication systems that use data networks to carry voice calls

319
Q

telecommute

A

Working with fellow employees from a distant location using Internet communication technology such as VoIP.

320
Q

virtual office

A

The use of Internet technology to work and participate from a distant physical office

321
Q

order taker

A

A salesperson whose primary function is to facilitate transactions that the customer initiates

322
Q

technical specialist

A

A sales support person with a high level of technical expertise who assists in product demonstrations

323
Q

missionary salesperson

A

A salesperson who promotes the firm and tries to stimulate demand for a product but does not actually complete a sale.

324
Q

new-business salesperson

A

The person responsible for finding new customers and calling on them to present the company’s products

325
Q

order getter

A

A salesperson who works to develop long-term relationships with a particular customers or to generate new sales

326
Q

team selling

A

The sales function when handled by a team that may consist of a salesperson, a technical specialist, and others

327
Q

key account

A

Very large customer organizations with the potential for providing significant sales revenue

328
Q

cross-functional team

A

A form on selling team where the team includes individuals from various areas of the firm

329
Q

multilevel selling

A

a form of team selling which the team consists of company personnel from various managerial levels, each calling on their counterpart in the customer organization

330
Q

transactional selling

A

A form of personal selling that focuses on making an immediate sale with little or no attempt to develop a relationship with the customer

331
Q

relationship selling

A

A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers

332
Q

creative selling process

A

The process of seeking out potential customers, analyzing needs, determining how product attributes might provide benefits for the customer, and the communicating that information

333
Q

prospecting

A

A part of the selling process that includes identifying and developing a list of potential or prospective customers

334
Q

preapproach

A

A part of the selling process that includes developing information about prospective customers and planning the sales interview

335
Q

approach

A

The first step of the actual sales presentation in which the salesperson tries to learn about the customer’s needs, create a good impression, and builds rapport

336
Q

sales presentation

A

The part of the selling process in which the salesperson directly communicates the value proposition to the customer and invites two-way communication

337
Q

close

A

The stage of the selling process in which the salesperson actually asks the customer to buy the product

338
Q

follow-up

A

Activities after the sale that provide important services to customers

339
Q

input measures

A

Effort that go into selling, such as the number and type of sales calls, expense account management, and a variety of non-selling activities, such as customer follow-up work and client service

340
Q

output measures

A

The results of the salesperson’s efforts

341
Q

public relations (PR)

A

Communication function that seeks to build good relationships with an organization’s publics, including consumers, stockholders, and legislators

342
Q

publicity

A

Unpaid communication about an organization that appears in the mass media

343
Q

crisis management

A

The process of managing a company’s reputation when some negative event threatens the organization’s image

344
Q

public relations campaign

A

A coordinated effort to communicate with one or more of the firm’s publics

345
Q

press release

A

Information that an organization distributes to the media intended to win publicity

346
Q

video news release (VNR)

A

Similar to a press release, an organization sends a report to the media in a film format

347
Q

internal PR

A

PR activites aimed at employees of an organization

348
Q

Investor relations

A

PR activities such as annual and quarterly reports aimed at a firm’s investors

349
Q

lobbying

A

talking with and providing information to government officials to influence their activities relating to an organization

350
Q

speech writing

A

Writing a speech on a topic for a company executive to deliver

351
Q

corporate identity

A

Materials such as logos, brochures, building design, and stationery that communicate an image of the organization

352
Q

media relations

A

A PR activity aimed at developing close relationships with the media

353
Q

sponsorships

A

PR activities through which companies provide financial support to help fund an event in return for publicized recognition of the company’s contribution

354
Q

special events

A

Activities- from a visit by foreign investors to a company picnic- that are planned and implemented by a PR department

355
Q

brand ambassadors or brand evangelists

A

Loyal customers of a brand recruited to communicate and be salespeople with other consumers for a brand they care a great deal about

356
Q

guerrilla marketing

A

Marketing activity in which a firm “ambushes” consumers with promotional content in places they are not expecting to encounter this kind of activity

357
Q

ambient advertising

A

Advertising placed where advertising isn’t normally or hasn’t ever been seen

358
Q

buzz

A

Word-of-mouth communication that customers view as authentic

359
Q

buzz marketing

A

Marketing activities designed to create conversation, excitement, and enthusiasm, that is, buzz, about a brand

360
Q

tryvertising

A

Advertising by sampling that is designed to create buzz about a product

361
Q

F-commerce

A

E-commerce that takes place on Facebook

362
Q

brand polarization

A

The gap between good buzz and bad buzz

363
Q

viral marketing

A

Marketing activities that aim to increase brand awareness or sales by consumers passing a message along to others consumers

364
Q

sock puppeting

A

An practice where a company executive or other biased source poses as someone else to plug a product in social media

365
Q

paid influencer programs

A

Another form of sock puppeting in which bloggers are paid or rewarded in some way for attempting to start online conversations about a brand

MKTG 3010 (3 decks)

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