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Flashcards in CH 13-14 Deck (26)
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1

the critical
three to seven seconds that a shopper
considers a product on a store shelf.

“First Moment of Truth”—

2

4 Growths of Non-store Retailing

1. Direct
2. Online
3. Mobile
4. Social Media

3

Two or more outlets that are commonly owned and controlled.
Size allows them to buy in large quantities at lower prices
and gain promotional economies
•Macy’s
• C V S

Corporate
chain

4

Wholesaler-sponsored group of independent retailers engaged in group
buying and merchandising.
•IGA
•Western Auto
• True Value

Voluntary
chain

5

Group of independent retailers who jointly establish a central buying
organization and conduct joint promotion efforts.
• Ace Hardware
• Associated Grocers

Retailer
cooperative

6

Contractual association between a franchisor (a manufacturer,
wholesaler, or service organization) and franchisees (-independent
businesspeople who buy the right to own and operate one or more
units in the franchise system).

Franchise
organization

7

RESEARCH DONE ON A PRODUCT BEFORE GOING IN-STORE

ZERO MOMENT OF TRUTH

8

focusing the entire marketing process—from product and brand development to logistics, promotion, and merchandising—toward turning shoppers into buyers as they move along toward the point of sale.

shopper marketing

9

buy at less-than-regular wholesale prices and charge consumers less than retail.

off-price retailers

10

either are independently owned and run or are divisions of larger retail corporations. OVERSTOCK.COM

Independent off-price retailers

11

At these cente​rs, prices offered as much as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular goods.

FACTORY OUTLETS

12

Costco, Sam’s Club, and BJ’s, operate in huge, facilities and offer few frills. In exchange for the bare-bones environment, they offer ultralow prices and surprise deals on selected branded merchandise.

Warehouse clubs

13

is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.

shopping center

14

Within each retail establishment of​ Kmart, external vendors stock and maintain the magazine department of the​ stores, but do not actually take possession of the product. Which type of wholesaler best describes these​ vendors?

Limited-service wholesalers

15

is the specific blend of promotion tools that
the company uses to persuasively communicate customer
value and build customer relationships.

The promotion mix

16

is the personal interaction by the firm’s sales
force for the purpose of engaging customers, making sales,
and building customer relationships.
The Promotion Mix

Personal selling

17

4 Step AIDA Model to Design a Message

• Get Attention
• Hold Interest
• Arouse Desire
• Obtain Action

18

relates to the audience’s self-interest. Shows that the
product will produce the desired benefits.

Rational appeal

19

Under this concept the company carefully integrates its many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands.

integrated marketing communications (IMC).

20

(IMC)

integrated marketing communications

21

Five A's of the customer journey:

1. awareness (I know about the product)
2. appeal (I like the product)
3. ask (I want to know more about the product and be more engaged with the brand)
4. act (I’m buying and relating to the product)
5. advocacy (I’m telling others about the product)

22

involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.

Buzz marketing

23

They set the promotion budget at the level they think the company can afford.

affordable method:

24

setting their promotion budget at a certain percentage of current or forecasted sales.

percentage-of-sales method

25

setting their promotion budgets to match competitors’ outlays.

competitive-parity method,

26

the company sets its promotion budget based on what it wants to accomplish with promotion.

objective-and-task method