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 centers, 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
