CH 13-14 Flashcards

(26 cards)

1
Q

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

A

“First Moment of Truth”—

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2
Q

4 Growths of Non-store Retailing

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

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

A

Corporate

chain

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4
Q
Wholesaler-sponsored group of independent retailers engaged in group
buying and merchandising.
•IGA
•Western Auto
• True Value
A

Voluntary

chain

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5
Q

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

A

Retailer

cooperative

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6
Q

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).

A

Franchise

organization

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7
Q

RESEARCH DONE ON A PRODUCT BEFORE GOING IN-STORE

A

ZERO MOMENT OF TRUTH

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8
Q

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.

A

shopper marketing

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9
Q

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

A

off-price retailers

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10
Q

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

A

Independent off-price retailers

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11
Q

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

A

FACTORY OUTLETS

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12
Q

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.

A

Warehouse clubs

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13
Q

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

A

shopping center

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14
Q

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?

A

Limited-service wholesalers

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15
Q

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

A

The promotion mix

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16
Q

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

A

Personal selling

17
Q

4 Step AIDA Model to Design a Message

A
  • Get Attention
  • Hold Interest
  • Arouse Desire
  • Obtain Action
18
Q

relates to the audience’s self-interest. Shows that the

product will produce the desired benefits.

A

Rational appeal

19
Q

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.

A

integrated marketing communications (IMC).

20
Q

(IMC)

A

integrated marketing communications

21
Q

Five A’s of the customer journey:

A
  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
Q

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

A

Buzz marketing

23
Q

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

A

affordable method:

24
Q

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

A

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