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
2
Q
Bitcoin
A
The most popular and fastest growing digital currency
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.
4
Q
prestige products
A
Products that have a high price and that appeal to status-conscious consumers
5
Q
price elasticity of demand
A
the percentage change in unit sales that results from a percentage change in price
6
Q
elastic demand
A
Demand in which changes in price have large effects on the amount demanded
7
Q
inelastic demand
A
Demand in which changes in price have little or no effect on the amount demanded
8
Q
cross-elasticity of demand
A
when changes in the price of one product affect the demand for another item
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.
10
Q
fixed costs
A
Costs of production that do not change with the number of units produced
11
Q
average fixed cost
A
the fixed cost per unit produced
12
Q
total costs
A
the total of the fixed costs and the variable costs for a set number of units produced
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
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
15
Q
contribution per unit
A
the difference between the price the firm charges for a product and the variable costs
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
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.
18
Q
retailer margin
A
The margin added to the cost of a product by a retailer
19
Q
wholesaler margin
A
The margin added to the cost of a product by a retailer
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
21
Q
vertical integration
A
the combining of manufacturing operations with channels of distribution under a single ownership to reduce costs and increase profits
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.
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.
24
Q
keystoning
A
retail pricing strategy in which the retailer doubles the cost of the item (100 percent markup) to determine the price
25
demand-based pricing
a price-setting method based on estimates of demand at different prices
26
target costing
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
27
yield management pricing
A practice of charging different prices to different customers to manage capacity while maximizing revenues
28
price leadership
A price strategy in which one firm first sets its price and other firms in the industry follow with the same or similar prices
29
value pricing or everyday low pricing (EDLP)
A pricing strategy in which a firm sets prices that provide ultimate value to customers
30
high/low pricing (also known as promo pricing)
A retail pricing strategy in which the retailer prices merchandise at list price but runs frequent, often weekly, promotions that heavily discount some products.
31
skimming price
A very high, premium price that a firm charges for its new, highly desirable product
32
penetration pricing
A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
33
trial pricing
pricing a new product low for a limited period of time to lower the risk for a customer
34
price segmentation
the practice of charging different prices to different market segments for the same product
35
peak load pricing
A pricing plan that sets prices higher during periods with higher demand
36
surge pricing
A pricing plan that raises prices of a product as demand goes up and lowers it as demand slides
37
bottom of the pyramid pricing
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
38
two-part pricing
Pricing that requires two separate types of payments to purchase the product
39
payment pricing
A pricing tactic that breaks up the total price into smaller amounts payable over time.
40
decoy pricing
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.
41
price bundling
Selling two or more goods or services as a single package for one price
42
captive pricing
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
43
F.O.B origin pricing (also known as F.OB factory pricing)
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.
44
F.O.B. delivered pricing
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.
45
uniform delivered pricing
A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless of location.
46
freight absorption pricing
A pricing tactic in which the seller absorbs the total cost of transportation
47
trade discounts
Discounts off list price of products to members of the channel of distribution who perform various marketing functions.
48
quantity discounts
A ricing tactic of charging reduced prices for purchases of larger quantities of a product
49
cash discounts
A discount offered to a customer to entice them to pay their bill quickly
50
seasonal discounts
Price reductions offered only during certain times of the year
51
dynamic pricing
A pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
52
Internet price discrimination
An Internet pricing strategy that charges different prices to different customers for the same product.
53
Online auctions
E-commerce that allows shoppers to purchase products through online bidding
54
freemium pricing
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.
55
Internal reference price
A set price or a price range in consumers' minds that they refer to in evaluating a product's price
56
price lining
The practice of setting a limited number of different specific prices, called price points, for items in a product line
57
prestige pricing or premium pricing
A pricing strategy used by luxury goods marketers in which they keep the price artificially high to maintain a favorable image of the product
58
bait-and-switch
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
59
loss-leader pricing
The pricing policy of setting prices very low or even below cost to attract customers into a store.
60
unfair sales acts
State laws that prohibit suppliers from selling products below cost to protect small businesses from larger competitors
61
price-fixing
The collaboration of two or more firms in setting prices, usually to keep prices high
62
predatory pricing
An illegal pricing strategy in which a company sets a very low price for the purpose of driving competitors out of business
63
physical distribution
The activities that move finished goods from manufactures to final customers, including order processing, warehousing, materials handling, transportation, and inventory control
64
direct channel
A channel of distribution in which a manufacturer of a product or creator of a service distributes directly to the end customer.
65
channel intermediaries
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.
66
breaking bulk
Dividing larger quantities of goods into smaller lots in order to meet the needs of buyers.
67
create assortments
To provide a variety of products in one location to meet the needs of buyers
68
transportation and storage
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
69
facilitating functions
Functions of channel intermediaries that make the purchase process easier for customers and manufacturers.
70
risk-taking functions
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.
71
communication and transaction functions
Happens when channel members develop and execute both promotional and other types of communication among members of the channel
72
disintermediation (of the channel of distribution)
The elimination of some layers of the channel of distribution to cut costs and improve the efficiency of the channel
73
knowledge management
A comprehensive approach to collecting, organizing, storing, and retrieving a firm's information assets.
74
intranet
An internal corporate communication network that uses Internet technology to link company departments, employees, and databases
75
online distribution piracy
The theft and unauthorized repurposing of intellectual property via the Internet
76
wholesaling intermediaries
Firms that handle the flow of products from the manufacturer to the retailer or business user
77
Independent intermediaries
Channel intermediaries that are not controlled by any manufacturer but instead do business with many different manufacturers and many different customers
78
merchant wholesalers
Intermediaries that buy goods from manufacturers (take title to them) and sell to retailers and other B2B customers
79
take title
To accept legal ownership of a product and assume the accompanying rights and responsibilities of ownership.
80
full-service merchant wholesalers
Wholesalers that provide a wide range of services for their customers, including delivery, credit, product-use assistance, repairs, advertising, and other promotional support
81
limited-service merchant wholesalers
Wholesalers that provide fewer services for their customers
82
merchandise agents or brokers
Channel intermediaries that provide services in exchanges for commissions but never take title to the product
83
channel levels
The number of distinct categories of intermediaries that make up a channel of distribution
84
dual or multiple distribution systems
A system where producers, dealers, wholesalers, retailers, and customers participate in more than one type of channel
85
Hybrid marketing system
A marketing system that uses a number of different channels and communication methods to serve a target market
86
subscription boxes
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
87
slotting allowance
A fee paid in exchange for agreeing to place a manufacturer's products on a retailer's valuable shelf space
88
product diversion
The distribution of a product through one or more channels not authorized for use by the manufacturer of the product
89
diverter
An entity that facilitates the distribution of a product through one or more channels not authorized for use by the manufacturer of the product.
90
distribution planning
The process of developing distribution objectives, evaluating internal and external environmental influences on distribution, and choosing a distribution strategy.
91
distribution intensity
The number of intermediaries at each level of the channel
92
conventional marketing system
A multiple-level distribution channel in which channel members work independently of one another
93
vertical marketing system (VMS)
A channel of distribution in which there is formal cooperation among members at the manufacturing, wholesaling, and retailing levels.
94
administered VMS
A vertical marketing system in which channel members remain independent but voluntarily work together because of the power of a single channel member
95
corporate VMS
A vertical marketing system in which a single firm owns manufacturing, wholesaling, and retailing operations
96
contractual VMS
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
97
Retailer cooperative
A group of retailers that establishes a wholesaling operation to help them compete more effectively with the large chains.
98
franchise organizations
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
99
horizontal marketing system
An arrangement within a channel of distribution in which two or more firms at the same channel level work together for common purpose
100
intensive distribution
Selling a product through all suitable wholesalers or retailers that are willing to stock and sell the product
101
exclusive distribution
Selling a product only through a single outlet in a particular region
102
gray market
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
103
selective distribution
Distribution using fewer outlets than intensive distribution buy more than exclusive distribution
104
channel leader or channel captain
The dominant firm that controls the channel
105
channel power
The ability of one channel member to influence, control, and lead the entire channel based on one or more sources of power
106
channel cooperation
Occurs when producers, wholesalers, and retailers depend on one another for success
107
Channel conflict
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.
108
logistics
The process of designing, managing and improving the movement of products through the supply chain. Logistics includes purchasing, manufacturing, storage, and transport
109
reverse logistics
Includes product returns, recycling and material reuse, and waste disposal.
110
order processing
The series of activities that occurs between the time an order comes into the organization and the time a product goes out the door.
111
enterprise resource planning (ERP) systems
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.
112
warehousing
Storing goods in anticipation of sale or transfer to another members of the channel of distribution
113
distribution center
A warehouse that stores goods for short periods of time and that provides other functions, such as breaking bulk
114
materials handling
The moving of products into, within, and out of warehouses
115
transportation
The mode by which products move among channel members
116
Inventory control
Activities to ensure that goods are always available to meet customers' demands
117
radio frequency identification (RFID)
Product tags with tiny chips containing information about the item's content, origin, and destination
118
level loading
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.
119
stock-outs
Zero-inventory situations resulting in lost sales and customer dissatisfaction
120
just in time (JIT)
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.
121
supply chain
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
122
Inventory turnover or inventory turns
The number of times a firm's inventory completely cycles through during a defined time frame.
123
supply chain management
The management of flows among firms in the supply chain to maximize total profitability
124
insourcing
A practice in which a company contracts with a specialist firm to handle all of part of its supply chain operations
125
retailing
The final stop in the distribution channel in which organizations sell goods and services to consumers for their personal use
126
wheel-of-retailing hypothesis
A theory that explains how retail firms change, becoming more upscale s they go through their life cycle
127
experiential merchandising
Tactic whose intent is to convert shopping from a passive activity into a more interactive one, by better engaging the customer.
128
destination retailer
Firm that consumers view as distinctive enough to become loyal to it. Consumers go out of their way to shop there
129
omnichannel (omni-channel) marketing
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
130
point-of-sale (POS) systems
Retail computer systems that collect sales data and are hooked directly into the store's inventory-control system.
131
perpetual inventory unit control system
Retail computer system that keeps a running total on sales, returns, transfers to other stores, and so on.
132
Automatic reordering system
Retail reordering system that is automatically activated when inventories reach a certain level
133
Beacon marketing
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.
134
Digital wallets
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
135
experiential shoppers
Shoppers who shop because it satisfies their experiential needs, that is, their desire for fun.
136
retailtainment
The use of retail strategies that enhance the shopping experience and create excitement, impulse purchases, and an emotional connection with the brand
137
shrinkage
Losses experienced by retailers as a result of shoplifting, employee theft, and damage to merchandise.
138
Organized retail crime (ORC)
Retail shoplifting by organized gangs of thieves that get away with thousands of dollars in goods in a single day.
139
Retail borrowing
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
140
Customer profiling
The act of tailoring the level of customer service based on a customer's perceived ability to pay
141
Service retailer
Organization that offers consumers services rather than merchandise. Examples include banks, hospitals, health spas, doctors, legal clinics, entertainment firms, and universities.
142
Merchandise mix
The total set of all products offered for sale by a retailer, including all product lines sold to all consumer groups
143
Combination stores
Retailers that offer consumers food and general merchandise in the same store
144
Supercenters
Large combination stores that combine economy supermarkets with other lower-priced merchandise
145
Merchandise assortment
The range of products a store sells
146
Merchandise breadth
The number of different product lines available
147
Merchandise depth
The variety of choices available for each specific product line.
148
Convenience Stores
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
Supermarkets
Food stores that carry a wide selection of edibles and related products
150
Box stores
Food stores that have a limited selection of items, few brands per item, and few refrigerated items
151
Specialty stores
Retailers that carry onl y a few product lines but offer good selection within the lines that they sell
152
Category killer
A very large specialty store that carries a vast selection of products in its category.
153
leased departments
Departments within a larger retail store that an outside firm rents
154
variety stores
Stores that carry a variety of inexpensive items
155
general merchandise discount stores
REtailers that offer a broad assortment of items at low prices with minimal service
156
off-price retailers
Retailers that buy excess merchandise from well-known manufactures and pass the savings on to customers
157
warehouse club
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
Factory outlet store
A discount retailer, owned by a manufacturer, that sells off defective merchandise and excess inventory
159
Department stores
Retailers that sell a broad range of items and offer a good selection within each product line
160
Bifurcated retailing
With the decline of middle-of-the-market retailing, both mass merchandising and niche retailing dominate the retail market
161
Hypermarkets
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
pop-up stores
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
Nonstore retailing
Any method used to complete an exchange with a product end-user that does not require a customer visit to a store
164
B2C e-commerce
Online exchanges between companies and individual consumers
165
M-commerce
Promotional and other e-commerce activities transmitted over mobile phones and other mobile devices, such as smartphones and personal digital assistance
166
Virtual experiential marketing
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
shopping cart abandonment
Occurs when e-commerce customers leave an e-commerce site with unpurchased items in their cart
168
Direct selling
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
Green River Ordinances
Community regulations that prohibit door-to-door selling unless prior permission is given by the household
170
party plan system
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
multilevel or network marketing
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
pyramid schemes
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
intangibles
Experience-based products
174
services
Intangible products that are exchanged directly between the producer and the customer
175
intangibility
The characteristic of a service that means customers can't see, touch, or smell good service
176
Perishability
The characteristic of a service that makes it impossible to store for later sale or consumption
177
Capacity management
The process by which organizations adjust their offerings in an attempt to match demand
178
variability
The characteristic of a service that means that even the same service performed by the same individual for the same customer can vary
179
Inseparability
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
Service encounter
The actual interaction between the customer and the service provide
181
Disintermediation
The elimination of some layers of the channel of distribution to cut costs and improve the efficiency of the channel
182
servicescape
The actual physical facility where the service is performed, delivered, and consumed
183
SERVQUAL
A multiple-item scale used to measure service quality across dimensions of tangibles, reliability, responsiveness, assurance, and empathy
184
gap analysis
A marketing research method that measures the difference between a customer's expectation of service quality and what actually occurred.
185
Place marketing
Marketing activities that seek to attract new businesses, residents, or visitors to a town, state, country, or some other site
186
idea marketing
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
Integrated marketing communication (IMC)
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
multichannel promotion strategy
A marketing communication strategy where they combine traditional advertising, sales promotion, and public relations activities with online buzz-building activities
189
Word-of-mouth communication
When consumers provide information about products to other consumers
190
communication model
The process whereby meaning is transferred from a source to a receiver
191
source
An organization or individual that sends a message
192
encoding
The process of translating an idea into a form of communication that will convey meaning.
193
message
The communication in physical form that goes from a sender to a receiver
194
medium
A communication vehicle through which a message is transmitted to a target audience
195
receiver
The organization or individual that intercepts and interprets the message
196
decoding
The process by which a receiver assigns meaning to the message
197
noise
Anything that interferes with effective communication
198
Feedback
Receivers' reactions to the message
199
promotion mix
The communication elements that the marketer controls
200
Mass communication
Relates to TV, radio, magazines, and newspapers
201
Hierarchy of effects
A series of steps prospective customers move through, from initial awareness of a product to brand loyalty
202
top-down budgeting techniques
Allocation of the promotion budget based on management's determination of the total amount to be devoted to marketing communication
203
percentage-of-sales method
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
competitive-parity method
A promotion budgeting method in which an organization matches whatever competitors are spending
205
bottom-up budgeting techniques
Allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish them
206
objective-task method
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
Push strategy
The company tries to move its products through the channel by convincing channel members to offer them
208
pull strategy
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
advertising
Nonpersonal communication from an identified sponsor using the mass media
210
TV everywhere (also known as authenticated streaming)
The use of an Internet-enabled device, like a tablet or smartphone, to stream content from a cable or satellite provider
211
product advertising
Advertising messages that focus on a specific good or service
212
Institutional advertising
Advertising messages that promote the activities, personality, or point of view of an organization or company
213
Corporate advertising
Advertising that promotes the company as a whole instead of a firm's individual products
214
advocacy advertising
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
public service advertisements (PSAs)
Advertising run by the media for not-for-profit organizations or to champion a particular cause without charge
216
Retail and local advertising
Advertising that informs consumers about store hours, location, and products that are available or on sale
217
Advertising campaign
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
limited-service agency
An agency that provides one or more specialized services, such as media buying or creative development
219
full-service agency
An agency that provides one or more specialized services, such as media buying or creative development
220
account executive
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
Account planner
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
creating services
The agency people (creative director, copywriters, and art director) who dream up and produce the ads.
223
research and marketing services
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
Media planners
Agency personnel who determine which communication vehicles are the most effective and efficient to deliver the ad.
225
do-it-yourself (DIY) ads
Product ads that are created by consumers
226
corrective advertising
Advertising that clarifies or qualifies previous deceptive advertising claims.
227
puffery
Claims made in advertising of product superiority that cannot be proven true or untrue.
228
greenwashing
A practice in which companies promote their products as environmentally friendly when in truth the brand provides little ecological benefit
229
Creative strategy
The process that turns a concept into an advertisement
230
Creative brief
A guideline or blueprint for the marketing communication program that guides the creative process
231
Advertising appeal
The central idea or theme of an advertising message
232
Unique selling proposition (USP)
An advertising appeal that focuses on one clear reason why a particular product is superior
233
reminder advertising
Advertising aimed at keeping the name of a brand in people's minds to be sure consumers purchase the product as necessary
234
Teaser ad or mystery ad
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
execution format
The basic structure of the message, such as comparison, demonstration, testimonial, slice of life, and lifestyle
236
comparative advertising
Advertising that compares one brand with a second named brand
237
slice of life advertising
A slice of life ad presents a (dramatized) scene from everyday life
238
lifestyle advertising
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
tonality
The mood or attitude the message conveys (straightforward, humor, dramatic, romantic, sexy, and apprehension/fear)
240
fear appeals
Advertisements that highlight the negative consequences of not using a product by either focusing on physical harm or social disapproval
241
jingles
Original words and music written specifically or advertising executions
242
slogans
Simple, memorable linguistic devices linked to a brand
243
pretesting
A research method that seeks to minimize mistakes by getting consumer reactions to ad messages before they appear in the media
244
media planning
The process of developing media objectives, strategies, and tactics for use in an advertising campaign
245
posttesting
Research conducted on consumers' responses to actual advertising messages they have seen or heard
246
Unaided recall
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
Aided recall
A research technique that uses clues to prompt answers from people about advertisements they might have seen
248
Attitudinal measures
A research technique that probes a consumer’s beliefs or feelings about a product before and after being exposed to messages about it
249
Branded entertainment (also known as product placements or embedded marketing)
A form of advertising in which marketers integrate products into entertainment venues
250
Advergaming
Brand placements in video games
251
Native advertising
An execution strategy that mimics the content of the website where the message appears
252
Support media
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
Out-of-home media
Communication media that reach people in public places
254
Digital signage
Out-of-home media that transmit messages in public places, such as doctors offices and airports, where certain types of people congregate
255
Place-based media
Advertising media that transmit messages in public places, such as doctors’ offices and airports, where certain types of people congregate
256
Digital media
Media that are digital rather than analog, including websites, mobile or cellular phones, and digital videos, such as YouTube.
257
Owned media
Internet sites, such as websites, blogs, Facebook, and twitter accounts, that are owned by an advertiser
258
Paid media
Internet media, such as display ads, sponsorships, and paid key word searches, that are paid for by an advertiser
259
Earned media
Word-of-mouth or buzz using social media where the advertiser has no control
260
Banners
Internet advertising in the form of rectangular graphics at the top or bottom of web pages
261
Buttons
Small banner-type advertisements that can be placed anywhere on a web page
262
Pop-up ad
An advertisement that appears on the screen while a web page loads or after it has loaded
263
Spam
The use of electronic media to send unsolicited messages in bulk
264
Permission marketing
Email advertising in which online consumers have the opportunity to accept or refuse the unsolicited e-mail
265
Search engines
Internet programs that search for documents with specified key words
266
Search marketing
Marketing strategies that involve the use of internet search engines
267
Ad fraud
The use of automated browsers to falsify the number of views or click-through a the advertisers must pay for
268
Ad blocking
The use of powerful ad-blocking software created to stop ad fraud by stripping ads from the website at the network level
269
Mobile hijacking
The use of automated browsers to falsify the number of views or click-through the advertisers must pay for
270
Search engine marketing (SEM)
Search marketing strategies in which marketers pay for ads or better positioning
271
Sponsored search sales
Paid ads that appear at the top or beside the internet search engine results
272
Mobile advertising
A form of advertising that is communicated to the consumer via a handset
273
Text message advertising
Delivering ads to consumers as mobile phone text messages
274
Monetize
The act of turning an asset into money. Websites and mobile apps monetize their content through advertisers
275
In-app advertising
To monetize free mobile phone apps, developers use advertising to create revenue and to engage the consumer
276
QR code advertising
Qr (quick response) code advertising uses smartphone GPS technology to deliver ads and other information to consumers in stores and in other locations
277
Video sharing
Uploading video recordings on to internet sites such as YouTube so that thousands or even millions of other internet users can see them
278
Vlogs
Video recordings shared on the internet
279
Media schedule
The plan that specifies the exact media to use and when to use it
280
Reach
The percentage of the target market that will be exposed to the media vehicle
281
frequency
The average number of times a person in the target group will be exposed to the message
282
gross rating points (GRPs)
A measure used for comparing the effectiveness of different media vehicles: average reach x frequency
283
cost per thousand (CPM)
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
sales promotion
Programs designed to build interest in or encourage purchase of a product during a specified period
285
rebates
Sales promotions that allow the customer to recover part of the product's cost from the manufacturer.
286
frequency programs
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
premiums
Items offered free to people who have purchased a product
288
product sampling
Distributing free trial-size versions of a product to consumers
289
trade sales promotions
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
merchandising allowance
Reimburses the retailer for in-store support of the product
291
case allowance
A discount to the retailer or wholesaler based on the volume of product ordered
292
co-op advertising
A sales promotion where the manufacturer and the retailer share the cost
293
trade shows
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
promotional products
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
Point of purchase (POP) displays
In-store displays and signs
296
push money
A bonus paid by a manufacturer to a salesperson, customer, or distributor for selling its product
297
groundswell
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
social media
Internet-based platforms that allow users to create their own content and share it with others who access these sites
299
social networks
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
brand community
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
Twitter
A free microblogging service that lets users pst short text messages with a maximum of 140 characters
302
virtual world
Online, highly engaging digital environments where avatars live and interact with other avatars in real time
303
avatars
Graphic representations of users of virtual worlds
304
virtual goods
Digital products consumers buy for use in online contexts
305
product review sites
Social media sites that enable people to post stories about their experiences with goods and services.
306
location-based social networks
Networks that integrate sophisticated GPS technology that enables users to alert friends of their exact whereabouts via their mobile phones.
307
augmented reality (AR)
A view of physical, real-world that is enhanced or altered by computer-generated sounds, videos, graphics, or GPS data
308
direct marketing
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
catalog
A collection of products offered for sale in book form, usually consisting of product descriptions accompanied by photos of the items.
310
direct mail
A brochure or pamphlet that offers a specific good or service at one point in time
311
telemarketing
The use of the telephone to sell directly to consumers and business customers
312
direct-resonse advertising
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
direct-response TV (DRTV)
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
infomercials
Half-hour or hour-long commercials that resemble a talk show but actually are sales pitches
315
m-commerce
Promotional and other e-commerce activities transmitted over mobile phones and other mobile devices, such a smartphones and personal digital assistants
316
personal selling
Marketing communication by which a company representative interacts directly with a customer or prospective customer to communicate about a good or service.
317
partner relationship management (PRM)
Similar to a CRM, the PRM system allows both selling and buying firms to share some of their information.
318
voice-over Internet protocol (VoIP)
Communication systems that use data networks to carry voice calls
319
telecommute
Working with fellow employees from a distant location using Internet communication technology such as VoIP.
320
virtual office
The use of Internet technology to work and participate from a distant physical office
321
order taker
A salesperson whose primary function is to facilitate transactions that the customer initiates
322
technical specialist
A sales support person with a high level of technical expertise who assists in product demonstrations
323
missionary salesperson
A salesperson who promotes the firm and tries to stimulate demand for a product but does not actually complete a sale.
324
new-business salesperson
The person responsible for finding new customers and calling on them to present the company's products
325
order getter
A salesperson who works to develop long-term relationships with a particular customers or to generate new sales
326
team selling
The sales function when handled by a team that may consist of a salesperson, a technical specialist, and others
327
key account
Very large customer organizations with the potential for providing significant sales revenue
328
cross-functional team
A form on selling team where the team includes individuals from various areas of the firm
329
multilevel selling
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
transactional selling
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
relationship selling
A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers
332
creative selling process
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
prospecting
A part of the selling process that includes identifying and developing a list of potential or prospective customers
334
preapproach
A part of the selling process that includes developing information about prospective customers and planning the sales interview
335
approach
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
sales presentation
The part of the selling process in which the salesperson directly communicates the value proposition to the customer and invites two-way communication
337
close
The stage of the selling process in which the salesperson actually asks the customer to buy the product
338
follow-up
Activities after the sale that provide important services to customers
339
input measures
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
output measures
The results of the salesperson's efforts
341
public relations (PR)
Communication function that seeks to build good relationships with an organization's publics, including consumers, stockholders, and legislators
342
publicity
Unpaid communication about an organization that appears in the mass media
343
crisis management
The process of managing a company's reputation when some negative event threatens the organization's image
344
public relations campaign
A coordinated effort to communicate with one or more of the firm's publics
345
press release
Information that an organization distributes to the media intended to win publicity
346
video news release (VNR)
Similar to a press release, an organization sends a report to the media in a film format
347
internal PR
PR activites aimed at employees of an organization
348
Investor relations
PR activities such as annual and quarterly reports aimed at a firm's investors
349
lobbying
talking with and providing information to government officials to influence their activities relating to an organization
350
speech writing
Writing a speech on a topic for a company executive to deliver
351
corporate identity
Materials such as logos, brochures, building design, and stationery that communicate an image of the organization
352
media relations
A PR activity aimed at developing close relationships with the media
353
sponsorships
PR activities through which companies provide financial support to help fund an event in return for publicized recognition of the company's contribution
354
special events
Activities- from a visit by foreign investors to a company picnic- that are planned and implemented by a PR department
355
brand ambassadors or brand evangelists
Loyal customers of a brand recruited to communicate and be salespeople with other consumers for a brand they care a great deal about
356
guerrilla marketing
Marketing activity in which a firm "ambushes" consumers with promotional content in places they are not expecting to encounter this kind of activity
357
ambient advertising
Advertising placed where advertising isn't normally or hasn't ever been seen
358
buzz
Word-of-mouth communication that customers view as authentic
359
buzz marketing
Marketing activities designed to create conversation, excitement, and enthusiasm, that is, buzz, about a brand
360
tryvertising
Advertising by sampling that is designed to create buzz about a product
361
F-commerce
E-commerce that takes place on Facebook
362
brand polarization
The gap between good buzz and bad buzz
363
viral marketing
Marketing activities that aim to increase brand awareness or sales by consumers passing a message along to others consumers
364
sock puppeting
An practice where a company executive or other biased source poses as someone else to plug a product in social media
365
paid influencer programs
Another form of sock puppeting in which bloggers are paid or rewarded in some way for attempting to start online conversations about a brand
