Untitled Flashcards

the relationshipbetween benefits and the sacrifice necessary to obtain those benefits

- astrategy that focuses on keeping and improving relationships with currentcustomers

1.    Internal(S)trengths

2.    Internal(W)eaknesses

3.    External(O)pportunities

4.    Possible  (T)hreats

a guideline to helpmarketing managers and other employees make better decisions

trade organizationthat replaced the old General Agreement on Tariffs and Trade (GATT)

·      assumes all ownership risksand sells globally for its own account

·      plays traditional broker roleby bringing buyer and seller together

·      acts as a manufacturer’s agentfor the exporter ; lives in the foreign market

- themarketing of goods and services to individuals and organizations for purposesother than personal consumption

firm’s belief that anongoing relationship with another firm is so important that the relationshipwarrants maximum efforts at maintaining it indefinitely

- allthose people in an organization who become involved in the purchase decision

characteristics ofindividuals, groups, or organizations

- positioningstrategy that some firms use to distinguish their products from those ofcompetitors

·      brandname of a manufacturer ; e.g. Fruit of the Loom or La-Z-Boy

- strategythat uses technology to deliver customized services on a mass basis

the efficient andcost-effective forward and reverse flow and storage of goods, services, and relatedinformation into, through, and out of channel member companies

- bundlesof interconnected activities that stretch across firms in the supply chain;there are 8 critical business process on which supply chain managers must focus(begins on pg. 219 for clarity)

1.    presentsa multi-company, unified response system to the customer whenever complaints,concerns, questions, or comments are expressed

1.    seeksto align supply and demand through the supply chain by anticipating customerrequirements at each level and creating demand related plans of action prior toactual customer purchasing behavior

- aproduction method where products are not made until an order is placed by thecustomer; products are made according to customer specifications

the amount of moneythe retailer makes as a percentage of sales after the cost of goods sold issubtracted

techniques used to getconsumers to make a purchase from their home, office, or other non-retailsetting

careful coordinationof all promotional messages for a product or a service to assure theconsistency of messages at every contact point where a company meets theconsumer

- publicinformation about a company, product, service, or issue appearing in the massmedia as a news item

marketing activitiesother than personal selling, advertising, and public relations that stimulateconsumer buying and dealer effectiveness

- adesirable, exclusive, and believable advertising appeal selected as the themefor a campaign

series of decisionsadvertisers make regarding the selection and use of media, allowing themarketer to optimally and cost-effectively communicate the message to thetarget audience

the number of targetconsumers exposed to a commercial at least once during a specific period,usually four weeks

public relationsstrategy that involves getting a product, service, or company name to appear ina movie, television show, radio program, magazine, newspaper, video game, videoor audio clip, book, or commercial for another product; on the internet; or atspecial events

coordinated effort tohandle all the effects of unfavorable publicity or other event

a price reductionoffered by manufacturers to intermediaries, such as wholesalers and retailers

money offered tochannel intermediaries to encourage them to “push” products -- that is, toencourage other members of the channel to sell the products

sales practice thatinvolves building, maintaining, and enhancing interactions with customers inorder to develop long-term satisfaction through mutually beneficial partnerships

- identificationof those firms and people most likely to buy the seller’s offerings

- aformal meeting in which the salesperson presents a sales proposal to aprospective buyer

a company’s productsales as a percentage of total sales for that industry

a method of determiningwhat sales volume must be reached before total revenue equals total cost

- apricing policy whereby a firm charges a relatively low price for a productinitially as a way to reach the mass market

an agreement betweentwo or more firms on the price they will charge for a product

- apayment to a dealer for promoting the manufacturer’s products

- settingthe price at a level that seems to the customer to be a good price compared tothe prices of other options

- aprice tactic in which different customers pay different prices for essentiallythe same merchandise bought in equal quantities

a price tactic thattries to get consumers into a store through false or misleading priceadvertising and then uses high-pressure selling to persuade consumers to buymore expensive merchandise

costs that are sharedin the manufacturing and marketing of several products in a product line

- acompany-wide business strategy designed to optimize profitability, revenue, andcustomer satisfaction by focusing on highly defined and precise customer groups

- aninformal process of collecting customer data through customer comments andfeedback on product or service performance

- processby which learned information from customers is centralized and shared in orderto enhance the relationship between customers and the organization

delegation ofauthority to solve customer’s problems quickly -- usually by the first personthe customer notifies regarding the problem

- thepoint at which a customer and a company representative exchange information anddevelop learning relationships

- allpossible areas of a business where customers communicate with the business

- communicationsbetween customers and organizations that occur at the point of sale, normallyin a store

a collection of data,especially one that can be accessed and manipulated by computer software