Term
| channels designed to return goods to their producers; ie. recycling |
|
Definition
|
|
Term
| channel policy in which a manufacturer of a convenience product attempts to saturate the market; ie. candy and toothpaste |
|
Definition
|
|
Term
| channel policy in which a firm grants exclusive rights to a single wholesaler or retailer to sell its products in a particular geographic area; television and home appliance. |
|
Definition
|
|
Term
| channel policy in which a firm chooses only a limited number of retailers to handle its product line; ie. luxury automobiles and prestige clothing. |
|
Definition
|
|
Term
| a dominant and controlling member of a marketing channel |
|
Definition
|
|
Term
| they add value by bridging the major time, place, and possession gaps that separate goods and services from those who would use them |
|
Definition
|
|
Term
1)facilitate the exchange process by cutting the number of contracts necessary
2)adjust for discrepancies in the market's assortment of goods and services via sorting
3)standardize exchange transactions
4)facilitate searches by both buyers and sellers |
|
Definition
| The role of marketing channels in marketing strategy |
|
|
Term
| reduces contact points from 9 to 6 by acting as an intermediary between manufacturers and customers. |
|
Definition
|
|
Term
| system of marketing institutions that promotes the physical flow of goods and services, along with ownership title, from producers to consumer or business user; also called a distribution channel. |
|
Definition
|
|
Term
| refers to disagreement over goals, roles, and rewards by channel member; horizontal conflict, and vertical conflict |
|
Definition
|
|
Term
| consist of one or more independent producers, wholesalers, and retailers. Each seeks to maximize its own profits, and there is little control over the other members and no formal means for assigning roles and resolving conflict. |
|
Definition
| conventional distribution systems |
|
|
Term
| wholesaler or retailer that operates between producers and consumers or business users; also called a middleman |
|
Definition
|
|
Term
| marketing intermediary that takes title to goods and then distribution these goods further; also called a jobber or distributor |
|
Definition
|
|
Term
- producer
- agent/broker
- wholesaler
- retailer
- consumer
|
|
Definition
| members that make up various assortments of marketing channels |
|
|
Term
| producer to wholesaler to retailers to consumer |
|
Definition
|
|
Term
| marketing channel that moves goods directly from a producer to ultimate user |
|
Definition
|
|
Term
| strategy designed to establish direct sales contract between producer and final user; ie. Dell, direct seller of computers |
|
Definition
|
|
Term
| network that moves products to a firm's target market through more than one marketing channel |
|
Definition
|
|
Term
1)market factors
2)product factors
3)organizational factors
4)competitive factors |
|
Definition
| factors which impact the selection of a marketing channel include |
|
|
Term
| arrangement between manufacturer and e-marketing intermediary that prohibits the intermediary from handling competing product lines |
|
Definition
| exclusive-dealing agreement |
|
|
Term
| exclusive geographic selling region of a distributor |
|
Definition
|
|
Term
| arrangement that requires a marketing intermediary to carry items other than those they want to sell |
|
Definition
|
|
Term
| channel members can shift responsibilities for the performance of certain marketing functions, but they cannot? what? |
|
Definition
| eliminate central functions |
|
|
Term
| causes sparks between different types of marketing intermediaries that handle similar products; sometimes results from disagreements among channel members at the same level |
|
Definition
|
|
Term
| example: when retailers develop private brands to compete with producers brands or when producers establish their own retail outlets or websites |
|
Definition
|
|
Term
| products made abroad under license from a U.S. firm and then sold in the US market in competition with that firms own domestic output; viewed by producers as undesired competition |
|
Definition
| grey goods; the grey market |
|
|
Term
| achieved via effective cooperation among channel members, is the desired antidote to channel conflict; best achieved when all channel members regard themselves as components of the same organization |
|
Definition
|
|
Term
| planned channel system designed to improve distribution efficiency and cost effectiveness by integrating various functions throughout the distribution chain |
|
Definition
| vertical marketing system (VMS) |
|
|
Term
| VMA that achieves channel coordination when a dominant channel member exercises its power; example: Goodyear sells through dealers, but controls the stock that they carry. |
|
Definition
| administered marketing system |
|
|
Term
| a VMS in which a single owner operates at each stage in its marketing channel |
|
Definition
| corporate marketing system |
|
|
Term
| a VMS that coordinates channel activities through formal agreements among channel members; Wholesaler-sponsored voluntary chains, retail cooperatives, and franchises |
|
Definition
| contractual marketing system |
|
|
Term
1)discount stores
2)off-price retailers
3)factory outlets
4)warehouse clubs |
|
Definition
| types of retailers (relative prices) |
|
|
Term
| first there were trading posts, then general stores; 1930's supermarkets, 1950's discount stores, 1960's convenience foods stores, and 1980's off-price retailers |
|
Definition
|
|
Term
1)corporate chains
2)voluntary chains
3)retailer cooperatives
4)franchise organizations
5)merchandising conglomerates |
|
Definition
| types of retailer organizations |
|
|
Term
1)wholesaler-sponsored voluntary chains
2)retailer cooperative chains
3)leased departments
4)franchising |
|
Definition
| organization structure trends |
|
|
Term
| hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current retailers, while maintaining profits thorough reduction of services. Once established, more services are introduced and prices rise. Becomes vulnerable to new, lower priced competitors |
|
Definition
|
|
Term
1)selecting a target market
2)developing a retailing mix to satisfy the chosen target market |
|
Definition
| two fundamental steps of retailing strategy (based on the firm's goals and strategic plans) |
|
|
Term
| consumers' perceptions of a store and the shopping experience it provides |
|
Definition
|
|
Term
1)merchandising
2)promotion
3)location/distribution
4)store atmospherics
5)pricing
6)customer service |
|
Definition
| elements of retail approach to a target market |
|
|
Term
| retailers analyze demographic, geographic profiles to segment and select potential markets |
|
Definition
| selecting a target market |
|
|
Term
| diagrams of how to exhibit selections of merchandise within a store |
|
Definition
| planograms (merchandising) |
|
|
Term
| retailing strategy which views each product category as an individual profit center, and the retailer manages the performance and growth of the entire category |
|
Definition
| category management (merchandising) |
|
|
Term
| specific product offering within a product line that is used to identify items within the line |
|
Definition
|
|
Term
| fees paid by manufacturers to secure shelf space from retailers for their products |
|
Definition
|
|
Term
| retailers must decided on the variety of services they make available for shoppers; ie. Tiffany's - blue box, Home Depot - "do it yourself" |
|
Definition
| customer service strategy |
|
|
Term
| retailers use a variety of promotional techniques to establish store images and communicate information about their stores |
|
Definition
|
|
Term
| retailing selling technique in which salespeople try to persuade customers to by higher riced items than originally intended |
|
Definition
|
|
Term
| involves salespeople attempting to broaden a costumers original purchase by adding related items, promotional products, and/ or holiday or seasonal merchandise |
|
Definition
|
|
Term
| physical characteristics and amenities that attract customers and satisfy their shopping needs. ie. Disney Store |
|
Definition
|
|
Term
1)form of ownership
2)shopping effort expended by customer
3)services provided to customers
4)product lines
5)location of retail transactions |
|
Definition
| type of retailers (by function) |
|
|
Term
| type of retail store with narrow product line with deep assortment; typically handles only part of a single product line; ie. lady foot locker |
|
Definition
|
|
Term
| type of retail store with wide variety of product lines, and stock them all in some depth |
|
Definition
| general merchandise retailer (department stores, variety stores) |
|
|
Term
| type of retail store with limited line of high-turnover goods |
|
Definition
|
|
Term
| type of retail store with non-food goods |
|
Definition
|
|
Term
| type of retail store deep in category with sales staff; staples - office equipment |
|
Definition
|
|
Term
1)convenience retailers
2)shopping stores ie. pier 1 imports
3)specialty retailers ie. the north face |
|
Definition
| type of retailers (shopping effort) |
|
|
Term
| offers a large assortment within a single product line, or within a few related product lines |
|
Definition
|
|
Term
| a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. allow customers to satisfy all their routine shopping needs in one trip. |
|
Definition
|
|
Term
1)discount house
2)off-price retailers
3)outlet malls
4)hypermarket
5)supercenters
6)showroom and warehouse retailers |
|
Definition
| type of mass merchandisers |
|
|
Term
| store that stocks a wider line of goods than a department store, usually without the same depth of assortment within each line |
|
Definition
|
|
Term
| the coming together of shoppers, goods, and prices, resulting in the blurring of distinctions between types of retailer and the merchandise mix they offer. |
|
Definition
|
|
Term
| concept in which a retailer combines dissimilar product lines in an attempt to boost sales volume |
|
Definition
|
|
Term
| completely bypasses retailers and wholesalers; manufacturers set up their own channels to sell their products directly to consumers |
|
Definition
|
|
Term
| customers can order merchandise by mail or telephone, by visiting a mail-order desk in a retail store, by computer or by fax. shipped directly to customer |
|
Definition
|
|
Term
| retailing through vending machines |
|
Definition
|
|
Term
| involves planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet consumer requirements at a profit |
|
Definition
| marketing logistics (physical distribution) |
|
|
Term
| sequence of suppliers that contributes to the creation and delivery of a good or service |
|
Definition
| supply chain (value chain) |
|
|
Term
1)raw materials
2)inbound logistics
3)warehouse and storage
4) production |
|
Definition
| components of upstream management |
|
|
Term
1)finished product storage
2)outbound logistics
3)marketing and sales
4)customer service |
|
Definition
| components of downstream management |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| the recognition that providing customer service and trimming distribution costs requires teamwork internally and externally |
|
Definition
| integrated logistics management |
|
|
Term
| the outsourcing of logistics functions to third-party logistics providers |
|
Definition
|
|
Term
| technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance |
|
Definition
| radio frequency identification (RFID) |
|
|
Term
| software system that consolidates data among a firm's units |
|
Definition
| enterprise resource planning |
|
|
Term
| company that specializes handling logistics activities for other firms ie. coyote logistics, penske |
|
Definition
| Third party (contract) logistics firm |
|
|
Term
1)transportation (42%)
2)inventory control (25%)
3)warehousing (22%)
4)order processing (~6%)
5)protective packaging and materials handling (~6%)
6)customer service (~6%) |
|
Definition
| elements of a company's physical distribution system |
|
|
Term
1)class rate
2)commodity rate
3)classes of carriers |
|
Definition
| components of transportation |
|
|
Term
| move freight via all modes of transportation for the general public |
|
Definition
|
|
Term
| transportation that does not serve the general public |
|
Definition
|
|
Term
| transportation that does not offer services for hire, but provide transportation services solely for internally generated freight |
|
Definition
|
|
Term
1)railroads (40%)
2)trucks (22%)
3)pipelines (21%)
4)ships (16%)
5)airlines (1%)
6)freight forwarders and supplemental carriers
7)intermodal coordination |
|
Definition
| major modes of transportation |
|
|
Term
|
Definition
|
|
Term
| if it transports fast it's expensive; if it depends on a tracks, pipe or water its availability is limited or low. water is efficient. |
|
Definition
| comparison of transport modes |
|
|
Term
|
Definition
|
|
Term
1)storage warehouse
2)distribution warehouse |
|
Definition
|
|
Term
| distribution costs can be cut and customer service improved by automating warehouse systems |
|
Definition
| automated warehouse technology |
|
|
Term
1)handling costs
2)delivery costs |
|
Definition
| costs categories influencing warehouse locations and quantity |
|
|
Term
| important since firms need to maintain enough inventory to meet customer demand without incurring unneeded costs for carrying excess inventory; JIT just-in-time production, VMI vendor-managed inventory |
|
Definition
| inventory control systems |
|
|
Term
| order for a product that is unavailable for shipment or sale |
|
Definition
|
|
Term
| set of activities that move production inputs and other foods within plants, warehouses and transportation terminals |
|
Definition
|
|
Term
| process of combining individual materials into large loads for easy handling |
|
Definition
|
|
Term
| process of combining several unitized into a single well-protected load |
|
Definition
|
|
Term
Creating utility
1)time utility
2)place utility
3)ownership/possession utility |
|
Definition
| functions of wholesaling intermediaries |
|
|
Term
| goods condensed at a central location |
|
Definition
| concentration function of wholesalers |
|
|
Term
| goods dispersed form a central location |
|
Definition
| dispersion function of wholesalers |
|
|
Term
1)buying
2)grant credit
3)store and deliver
4)provide management advice
5)break bulk and regroup goods |
|
Definition
| functions for the retailer/wholesaler |
|
|
Term
1)selling
2)assume credit risk
3)store goods
4)provide market information
5)lessen total investment |
|
Definition
| functions for the manufacturer |
|
|
Term
1)selling and promoting
2)buying assortment building
3)bulk breaking
4)warehousing
5)transportation
6)financing
7)risk bearing
8)market information
9)management services and advice |
|
Definition
|
|
Term
| concept in which intermediaries represent multiple suppliers which cuts buying and selling costs, and reduces transaction time. Decreasing contact points. |
|
Definition
| lowering costs by limiting contacts |
|
|
Term
| wholesaler that takes title |
|
Definition
|
|
Term
| wholesaler who does not take title |
|
Definition
|
|
Term
| makes up 78% of wholesalers, and 51% of wholesale sales |
|
Definition
|
|
Term
| makes up 9% of wholesalers, and 12% of wholesale sales |
|
Definition
|
|
Term
| makes up 13% of wholesalers, and 37% of wholesale sales |
|
Definition
| manufacturers' sales banches |
|
|
Term
1)sales branch
2)sales office
3)trade fair
4)merchandise mart |
|
Definition
| types of manufacturer-owned facilities |
|
|
Term
1)rack jobbers
2)cash-and-carry wholesalers
3)truck wholesalers
4)drop shippers
5)mail order wholesalers |
|
Definition
| types of independent wholesaling intermediaries; limited-function wholesalers |
|
|
Term
1)commission merchants
2)auction houses
3)brokers
4)selling agents
5)manufacturer's agents |
|
Definition
| types of agents and brokers; anticipates customer needs |
|
|
Term
| retails assuming wholesaler functions to reduce costs or provide special services. Retails will band together to form buying groups to reduce costs. |
|
Definition
| retailer-owned cooperatives and buying Offices |
|
|
Term
| function of informing, persuading, and influencing the consumer's purchase decision |
|
Definition
|
|
Term
| transmission from a sender to a receiver of a message dealing with the buyer-seller relationship |
|
Definition
|
|
Term
consistent, clear, and compelling company and brand messages
1)advertising
2)public relations
3)personal selling
4)direct-marketing tools
5)sales promotion |
|
Definition
| components of the promotion mix; integrated marketing communications strategy (The Communications Model) |
|
|
Term
1)provide information
2)increase demand
3)differentiate the product
4)accentuate the product's value
5)stabilize sales |
|
Definition
|
|
Term
| includes advertising, product placement, sales promotion, direct marketing and public relations |
|
Definition
|
|
Term
| blend of personal selling and nonpersonal selling design to achieve promotional objectives |
|
Definition
|
|
Term
| relates to the audience's self interest |
|
Definition
|
|
Term
| an attempt to stir up positive or negative emotions to motivate a purchase |
|
Definition
|
|
Term
| directed at the audience's sense of right and proper |
|
Definition
|
|
Term
| marketing activities that stimulates consumer purchasing; display windows, coupons, premiums, contests, product demonstrations |
|
Definition
|
|
Term
1)personal selling
2)advertising
3)sales promotion
4)direct marketing
5)public relations
6)publicity
7)guerilla marketing |
|
Definition
| has various advantage and disadvantages, see table chpt 14 slides 30-31 |
|
|
Term
| promotional effort by a seller to stimulate demand among final users, who will then exert pressure on the distribution channel to carry the food or service, pulling it though the marketing channel |
|
Definition
|
|
Term
| promotional effort by a seller to members of the marketing channel intended to stimulate personal selling of the good or service, thereby pushing it through the marketing channel |
|
Definition
|
|
Term
1)percentage-of-sales method
2)fixed-sum-per-unit method
3)meeting competition method
4)task-objective method |
|
Definition
| types of budgeting for promotional strategy |
|
|
Term
| promotional budget is set as a specified percentage of either past or forecasted sales |
|
Definition
| 1)percentage-of-sales method |
|
|
Term
| promotional budget is set as a predetermined dollar amount for each unit sold or produced |
|
Definition
| 2)fixed-sum-per-unit method |
|
|
Term
| promotional budget is set to match competitor's promotional outlays on either an absolute or relative basis |
|
Definition
| 3)meeting competition method |
|
|
Term
| once marketers determine their specific, promotional objectives, the amount of promotional spending needed to achieve them is determined |
|
Definition
|
|
Term
| function of informing, persuading, and influencing the consumer's purchase decision |
|
Definition
|
|
Term
| transmission from a sender to a receiver of a message dealing with the buyer-seller relationship |
|
Definition
|
|
Term
1)broadcast
2)print
3)internet
4)outdoor |
|
Definition
|
|
Term
1)discounts
2)coupons
3)displays
4)demonstrations |
|
Definition
| types of sales promotions |
|
|
Term
1)press releases
2)sponsorships
3)special events
4)web pages |
|
Definition
| types of public relations |
|
|
Term
| nonpersonal selling or a particular good or service. most common type of advertising. |
|
Definition
|
|
Term
| promotes concept, an idea, a philosophy, or the goodwill of an industry, company organization, person, geographic location, or government agency. |
|
Definition
| Institutional advertising; ie. corporate advertising. |
|
|
Term
1)informative [/
2)persuasive []
3)reminder \] |
|
Definition
| 3 objectives of advertising; "informative" is more present during growth of a product, and the "reminder" appears once declining. "Persuasive" is equally present throughout. |
|
|
Term
1)comparative
2)celebrity testimonial
3)retail advertising
4)cooperative advertising
5)interavtive advertising |
|
Definition
| different advertising strategies |
|
|
Term
| determines whether an Ad campaign accomplished its appropriate promotional objectives. Ads = sales? One of the most difficult undertakings in marketing |
|
Definition
| measuring promotional effectiveness |
|
|
Term
1)focus groups
2)sales conviction test
3)blind product tests
4)tests using mechanical devices |
|
Definition
| methods of pretesting Ad effectiveness |
|
|
Term
1)starch readership report
2)unaided recall tests
3)inquiry tests
4)split runs |
|
Definition
| methods of post-testing Ad effectiveness |
|
|
Term
| can shift functions, but you can Not eliminate what they do |
|
Definition
| eliminating channel members |
|
|
Term
includes, not only wholesalers, who assume title to the goods they handle, but also agents and brokers who conduct wholesaling activities without taking title of the goods
Function: to create utility-time, place, and ownership utility |
|
Definition
| wholesale middlemen: various functions |
|
|
Term
| an effective promotional message accomplishes three tasks: it gains the receivers attention, it achieves understanding by both receiver and sender, it stimulates the receivers needs and suggests an appropriate methods of satisfying them |
|
Definition
|
|
Term
| Attention.Interest. Desire.Action) an explanation of the steps through which an individual reaches a purchase decision |
|
Definition
|
|
Term
Advantages: mass coverage, repetition, flexibility, quick visual communication of simple ideas
Disadvantages: high cost, temporary messages, public distrust, lack of flexibility, difficult to measure |
|
Definition
| media (advantages and disadvantages) |
|
|
Term
| how to differentiate your product or service from that of your competitors and then determine which market niche to fill |
|
Definition
|
|
Term
| short-term incentive to encourage the purchase or sale of a product or service. Stimulates consumer purchasing |
|
Definition
|
|
Term
discounts: reductions from list price given by a seller to buyers
•coupons: written price reductions used to encourage consumers to buy a specific product
•displays: a behavior pattern especially adapted in physical form or frequency to function as a social signal
•demonstrations: sales promotions that show customers how the product works |
|
Definition
| forms of sales promotions |
|
|
Term
| the mental filtering process through which all inputs must pass |
|
Definition
|
|
Term
| measures the effectiveness of promotion by revealing the specific impact on sales revenues for each dollar of promotional spending |
|
Definition
| direct sales results (promotion effectiveness) |
|
|
Term
concentrates on quantifiable indicators of effectiveness such as:
•Recall: how much members of the target market remember about specific products or advertisements
•Readership: size and composition of a message's audience |
|
Definition
| indirect evaluation of promotion |
|
|
Term
counting hits and visits in the early stages
•cost per impression: relates the cost of an ad to every thousand people who read it
•Cost per response: assumes those who click on an ad what more information |
|
Definition
|
|
Term
| the exchange value of a good or service |
|
Definition
|
|
Term
| prices are set at a high level in order to develop and maintain an image of quality and exclusiveness that appeals to status-conscious consumers |
|
Definition
| prestige objectives (price setting) |
|
|
Term
| pricing strategy that allows marketers to vary prices based on such factors as demand, even though the cost of providing those goods or services remains the same (AirFares, Movie tickets) |
|
Definition
| Yield Management pricing strategy |
|
|
Term
| pricing strategy that emphasizes the benefits derived from a product in comparison to the price and quality levels of competing offerings |
|
Definition
|
|
Term
| a strong positive relationship between a firm's market share and product quality and its return on investment |
|
Definition
| PIMS (Product Impact of Marketing Strategies) |
|
|
Term
|
Definition
| Product Impact of Marketing Strategies |
|
|
Term
| pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices in order to cover total cost with estimates of expected sales at the various prices |
|
Definition
| modified breakeven analysis (concept) |
|
|
Term
| Involves the use of a high price relative to competitive offerings |
|
Definition
|
|
Term
| involves the use of low entry price as compared with competitive offerings |
|
Definition
| penetration pricing strategy |
|
|
Term
| price reduction granted for a large volume purchase |
|
Definition
|
|
Term
| product offered to consumers at less than cost to attract them to stores with the hope that they will buy other products at regular price |
|
Definition
|
|
Term
| set as a specified percentage of either past or forecasted sales |
|
Definition
|
|
Term
| set as a pre-determined dollar amount for each unit sold or produced |
|
Definition
|
|
Term
| set to match competitor's promotional outlays on either an absolute or relative basis |
|
Definition
|
|
Term
| Setting specific corporate goals and determining the appropriate promotional activities for each goal are the two-step process used in developing the promotional budget |
|
Definition
|
|
Term
1)order processing
2)creative selling
3)missionary sales |
|
Definition
|
|
Term
| selling, mostly at the wholesale and retail levels, that involves identifying customer needs, pointing them out to customers, and completing orders |
|
Definition
|
|
Term
| personal selling involving situations in which a considerable degree of analytical decision making on the buyer's art result in the need for skillful proposals of solutions for the customer's needs |
|
Definition
|
|
Term
| indirect type of selling in which specialized salespeople promote the firm's goodwill among indirect customers, often by assisting customers in product use |
|
Definition
|
|
Term
1)coupons
2)refunds
3)sampling
4)bonus pack (35% more!)
5)premium (buy 1, get 1 FREE!)
6)contests (proof of purchase*)
7)sweepstakes (no purchase necessary) |
|
Definition
| Consumer-oriented promotions |
|
|
Term
| promotion technique that places the advertiser's name, address, and ad message on useful articles that are then distributed to target markets |
|
Definition
| Specialty Advertising (over $8 billions given out a year!) |
|
|
Term
1)trade allowances
2)point-of-purchase advertising |
|
Definition
| trade-oriented promotions |
|
|
Term
| vendors' displays and the demonstrations at sites often organized by industry trade associations. |
|
Definition
| Trade Shows (McCormick Place*) |
|
|
Term
| run by the manufacturers to induce retailers and their salespeople to increase sales and to promote product knowledge |
|
Definition
| dealer incentives, contests, and training programs |
|
|
Term
| since many sales promotions result in direct consumer responses, marketers can relatively easily track their effectiveness |
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Definition
| measuring sales promotion effectiveness |
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Term
| low introductory interest rates on credit cards with high standard rates after 6 months. Is an example of what pricing objective? |
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Definition
| profitability objectives (profit maximized, target return) |
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Term
| Dell's low-priced PCs increase market share and sales of service. Is an example of what pricing objective? |
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Definition
| volume objectives (sales maximized, market share) |
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Term
| seeks simply to meet competitor's price |
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Definition
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Term
| price strategy that emphasizes the benefits derived from a product in comparison to the price and quality levels of competing offerings |
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Definition
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Term
1)profitability objectives
2)volume objectives
3)meeting competition objectives
4)prestige objectives (value pricing)
5)not-for-profit objectives |
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Definition
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Term
1)pure competition
2)monopolistic competition
3)oligopoly (Auto Industry)
4)monopoly |
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Definition
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Term
| practice of adding a percentage of a specified dollar amount (markup) to the base cost and provide a profit |
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Definition
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Term
1)many firms don't attempt to maximize profits
2)estimating demand curves is a difficult process |
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Definition
| practical problems of price theory (Supply&Demand) |
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Term
| combines traditional breakeven analysis model with an evaluation of consumer demand |
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Definition
| modified breakeven analysis |
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Term
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Definition
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Term
1)economic condition
2)reseller's response to price
3)government
4)social concerns |
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Definition
| other internal and external consideration affecting price decisions |
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Term
| pricing strategy of continuously offering low prices rather than relying on such short term price cuts as cents-off coupons, rebates, and special sales |
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Definition
| everyday low pricing (EDLP) |
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Term
| reduces emphasis on price as a competitive variable by pricing goods at the general level of competitors |
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Definition
| competitive pricing strategy |
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Term
| established prices normally quoted to potential buyers |
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Definition
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Term
| price that an intermediary or final consumer pays for a product after subtracting any discounts, rebates, or allowances from the list price |
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Definition
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Term
| price reduction offered to a consumer, industrial user, or marketing intermediary in return for prompt payment of a bill |
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Definition
| cash discount (2/10, net 30); if paid in 10 days or less you get 2% off. |
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Term
| payment to a channel member or buyer for performing marketing functions |
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Definition
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