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marketing > test 2 > Flashcards

test 2 Flashcards

1
Q

Marketing channels

A

A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user

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2
Q

Horizontal marketing system

A

Consists of two or more companies at one level who join together to follow a new marketing opportunity

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3
Q

A direct marketing channel is…

A

When a company sells directly to customers

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4
Q

Marketing intermediares

A

Create greater efficiency in making total goods available to target markets

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5
Q

Vertical marketing system

A

Consists of producers, wholesalers, and retailers acting as a unified system

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6
Q

What is a multi-channel distribution system?

A

When a single firm sets up two or more marketing channels to reach one or more customer segments

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7
Q

What is exclusive distribution?

A

When the producer gives only a limited number of dealers the exclusive rights to distribute its products in their territories

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8
Q

Inbound logistics

A

The activities of receiving, storing, and disseminating incoming goods or material for use.

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9
Q

Selective distribution

A

The use of more than one but fewer than all of the intermediaries who are willing to carry a company’s products

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10
Q

What is supply chain management?

A

Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and the final consumers

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11
Q

What is omni channel retailing?

A

Creates a seamless cross-channel buying experience that integrates in store, online, and mobile shopping

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12
Q

What is limited service retailer?

A

Provide more sales assistance because they carry more shopping goods about which customers need information. Their increased operating costs result in higher prices

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13
Q

What type of stores are characterized by specialty goods for which customers need assistance

A

Full service retailer

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14
Q

What retailer carries deep product assortment of various product lines?

A

Specialty store

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15
Q

What is a self- service retailer?

A

Serve customers who are willing to perform their own locate-compare-select process to save money or time

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16
Q

What is a convenience store?

A

A relatively small store located near residential areas, open 24/7, and carries a limited line of high turnover convenience products at slightly higher prices

17
Q

What type of retailer is larger than a supermarket?

A

Superstore

18
Q

Which term refers to a giant specialty store with a deep assortment of particular product line?

A

Specialty store

19
Q

Definition of a superstore

A

A very large store that meets customers total needs for routinely purchased food and nonfood items.

20
Q

Definition of advertising

A

Any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor

21
Q

In the marketing communication mix, what encourages the purchase or sale of a product or service?

A

Sales promotion

22
Q

What is personal selling?

A

Personal customer interactions by the firms sales force for the purpose of engaging customers, making sales, and building customer relationships

23
Q

What involves personally connecting with consumers which creates an immediate response?

A

Direct marketing

24
Q

What is the most expensive promotional tool a company can utilize?

A

Personal selling

25
Q

What emphasizes news and events rather than sales?

A

Public relations

26
Q

Who represents a company to its customers by communicating and selling?

A

Salesperson

27
Q

What is the concept of salesperson owned loyalty?

A

The concept that the only tangible manifestation of the company that they see is the salesperson

28
Q

What is a complex sales force structure?

A

Combines several types of organizations

29
Q

What is the variable amount in a salespersons compensation?

A

Commission

30
Q

What are sales quotas?

A

Standards stating the amount they should sell and how sales should be divided among the company’s products

31
Q

What is prospecting?

A

Identifying qualified potential customers

32
Q

What is a pre-approach?

A

This occurs when a salesperson learns as much about a possible organizations and its buyers before calling the potential prospect

33
Q

What is approach?

A

The salesperson should know how to meet and greet the buyer and get the relationship off to a good start

34
Q

What is the presentation stage?

A

The salesperson tells the value story to the buyer, showing how the company’s offer solves the customers problems

marketing (6 decks)

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