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Marketing > Notes 3 > Flashcards

Notes 3 Flashcards

1
Q

Distribution channels

A

The path a product follows from manufacturers to consumers

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2
Q

Direct channel

A

From manufacturer to consumer
Online or apple store

Cheaper

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3
Q

Indirect channel

A

Manufacturers. Marketing intermediaries. Consumer

More convenient
Allows focus

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4
Q

Dual

A

When u do both direct and indirect

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5
Q

Channel conflict

A

When u sell direct and indirect and compete with yourself

Ways to stop: keep price the same and give channel partners exclusive products

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6
Q

Channel length

A

How long the chain of intermediaries is

How many times a product changes hands

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7
Q

Anticipatory inventory

A

Guess how much u sell

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8
Q

Response inventory

A

Every time something is bought another is ordered

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9
Q

Merchant

A

60%. Take products then sell them assume a lot of risk

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10
Q

Matchmakers

A

40%. Finds customer for the company then buys product and delivers

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11
Q

2 types of matchmakers

A

Agent: pair with specific company
To sell their goods

Broker: sells specific product to people helps people choose from a lot of different brands

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12
Q

Verticals integration

A

When one channel starts to overtake other parts of the chain

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13
Q

Backward VI

A

When distributor becomes manufacturers

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14
Q

Frontward VI

A

When a distributor overtakes a retailer

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15
Q

Intensive

A

Can be found anywhere

Like gum

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16
Q

Exclusive

A

Have to travel not common

Rolls Royce dealer

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17
Q

Selective

A

In between

Olive Garden

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18
Q

Direct response

A

Commercial adds

Say call right now limited time offer infomercial

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19
Q

Brand advertising

A

A man shoots basketball then says Nike just do it. No direct call to buy

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20
Q

E commerce

A

Digital version of direct marketing

21
Q

Timeline of marketing media

A 
Book 
Periodical 
Radio 
Tv 
Internet 
Smart phone
22
Q

Service marketing

A

More important to brand a service than a product because services are intangible
90% of jobs are services in developed countries
Include hidden sector
Furniture also install replace repair

23
Q

Types of services

A

Rental (cars hotel ski’s)
Repair (insurance plumbing lawn)
Personal services (schools, speech coach, physical trainer)

24
Q

GDP

A

The value of all the work done in a country

25
Q

Cues

A

Stan vs. Bob

Sheetz cleans trucks

26
Q

Business to business

A 
When business’s buy from business’s 
Biggest buyers 
Microsoft 
Staples 
fedex 
General Electric 
Visa 
Insurance 
50% b to b sales done online
27
Q

Main focus of b to b marketing

A

Consumers focus on products business focus on vendors

Most important is delivery

28
Q

B to b promotion

A

Search engine

Personal selling advertising in trade journals

29
Q

Derived demand

A

Industrial demand derived from consumer demand

30
Q

Accelerator principle

A

When consumers don’t want a product it takes out a lot of people

31
Q

International marketing

A

Pros: higher profit, reputation, Econ, product life cycle curve, market opportunities and saturation
Cons: laws, changing product, different culture, languages confusion, currency diff, diff needs, government stability, tariffs violence

32
Q

Ethnocentric

A

Stay in ur country not international

33
Q

International

A

One or two other countries

34
Q

Multinational

A

Geo centric company that targets the whole world
May require product adaptation or promotional adaptation. Or dual adaptation
Transplant means you change nothing

35
Q

Exchange rate

A

Import: like when dollar is weak
Export: likes when dollar weak

36
Q

BRICA

A

Brazil Russian India China Africa

37
Q

B-O-P

A

Bottom of pyramid

Cadbury small chocolate pieces in India

38
Q

OUDA loop

A

Observation. Understand. Decision. Action

39
Q
  1. Law of leadership
A

It is better to be first than to be better

40
Q
  1. Law of category
A

If you can’t be first find a way to be first

41
Q
  1. Law of the mind
A

It’s better to be first into the mind the first in the market place
Ex iPod vs nomad

42
Q

Law of perception

A

Marketing is a battle of perception not products

43
Q

5 law of focus

A

Better to do one thing excellently then 1000 marginally

Later vs sun

44
Q

6 law of division

A

Over time product categories divide. 800 different types of milk
They call for special brands

45
Q

7 law of extinction

A

When u are tempted to extend the line don’t

Brand extension confuses line canabalism

46
Q

8 Law of inoculation

A

Realtor tells Powell’s about leaky roof b4 they go and see it tells them they will fix it so they don’t freak out. Do the same w/ product! Loreal says they r expensive

47
Q

9 law of success:

A

success leads to arrogance to failure. First fat foolish failure

48
Q

10 the law of illusion

A

Marketing is not common sense, often counter intuitive. 90% of new products fail

Marketing (20 decks)

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