Term
|
Definition
| the variety of different product items a store carries |
|
|
Term
|
Definition
| an approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category |
|
|
Term
| central business district |
|
Definition
| the oldest retail setting, usually located in the community's downtown area |
|
|
Term
| community shopping center |
|
Definition
| a retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10 to 20 minute drive |
|
|
Term
|
Definition
| the store carries a large assortment of each product item |
|
|
Term
|
Definition
| distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet |
|
|
Term
|
Definition
| a form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location |
|
|
Term
|
Definition
| competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy |
|
|
Term
|
Definition
| the degree of service provided to the customer from three types of retailers: self-, limited-, and full-service |
|
|
Term
|
Definition
| describes how many different types of products a store carries and in what assortment |
|
|
Term
|
Definition
| retailers that utilize and integrate a combination of traditional store formats and non-store formats such as catalogs, television and online retailing |
|
|
Term
|
Definition
| selling brand-name merchandise at lower than regular prices |
|
|
Term
|
Definition
| a huge shopping strip with multiple anchor (or national) stores |
|
|
Term
| regional shopping centers |
|
Definition
| consist of 50 to 150 stores that typically attract customers who live or wokr within a 50 to 10 mile range, often containing two or three anchor stores |
|
|
Term
|
Definition
| the process of growth and decline that retail outlets, like products experience. consists of the early growth, accelerated development, maturity, and decline stages |
|
|
Term
| retail positioning matrix |
|
Definition
| a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability or prestige |
|
|
Term
|
Definition
| all activities involved in selling, renting and providing products and services to ultimate consumers for personal, family or household use |
|
|
Term
|
Definition
| the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication and merchandise |
|
|
Term
|
Definition
| offering several unrelated product lines in a single store |
|
|
Term
|
Definition
| a cluster of neighborhood stores to serve people who are within a 5 to 10 minute drive |
|
|
Term
|
Definition
| using the telephone to interact with and sell directly to consumers |
|
|
Term
|
Definition
| a concept that describes how ney forms of retail outlets enter the market |
|
|
Term
|
Definition
| any paid form of nonpersonal communication about an organization, good, service or idea by an identified sponsor |
|
|
Term
| all-you-can-afford budgeting |
|
Definition
| allocating funds to promotion only after all other budget items are covered |
|
|
Term
|
Definition
| the means (a salesperson, advertising media, or public relations tools) of conveying a message to a receiver during the communication process |
|
|
Term
|
Definition
| the process of conveying a message to others that requires six elements: a source, message, channel of communication, a receiver, and the process of encoding and decoding |
|
|
Term
| competitive parity budgeting |
|
Definition
| allocating funds to promotion by matching the competitor's absolute level of spending or the proportion per point of market share (matching competitors or share of market) |
|
|
Term
|
Definition
| the process of having the receiver take a set of symbols, the message and transform them back to an idea during the communication process |
|
|
Term
|
Definition
| a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information or a visit to a retail outlet |
|
|
Term
|
Definition
| the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction |
|
|
Term
|
Definition
| the process of having the sender transform an idea into a set of symbols during the communication process |
|
|
Term
|
Definition
| in the feedback loop, the sender's interpretation of the response, which indicates whether the message was decoded and understood as intended during the communication process |
|
|
Term
|
Definition
| a mutually shared understanding and knowledge that the sender and receiver apply to the message so that it can be communicated effectively during the communication process |
|
|
Term
|
Definition
| the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product). The stages include awareness, interest, evaluation, trial and adoption |
|
|
Term
| integrated marketing communications (IMC) |
|
Definition
| the concept of designing marketing communications programs that coordinate all promotional activities--advertising, personal selling, sales promotion, public relations, and direct marketing--to provide a consistent message across all audiences |
|
|
Term
|
Definition
| the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information |
|
|
Term
|
Definition
| the information sent by a source to a receiver during the communication process |
|
|
Term
|
Definition
| extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process |
|
|
Term
| objective and task budgeting |
|
Definition
| allocating funds to promotion whereby the company: 1) determines its promotion objectives 2) outlines the tasks to accomplish these objectives and 3) determines the promotion cost of performing these tasks |
|
|
Term
| percentage of sales budgeting |
|
Definition
| allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold |
|
|
Term
|
Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
|
|
Term
|
Definition
| the combination of one or more communication tools used to: 1) inform prospective buyers about the benefits of the product 2) persuade them to try it and 3) remind them later about the benefits they enjoyed by using the product |
|
|
Term
|
Definition
| a form of communication management that seeks to influence the feelings, opinions or beliefs held by customers, prospective customers, stockholders, suppliers, employees and other publics about a company and its products or services |
|
|
Term
|
Definition
| a nonpersonal indirectly paid presentation of an organization, good, or service |
|
|
Term
|
Definition
| directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product |
|
|
Term
|
Definition
| directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product |
|
|
Term
|
Definition
| consumers who read, hear or see the message sent by a source during the communication process |
|
|
Term
|
Definition
| in the feedback loop, the impact the message had on the receiver's knowledge, attitudes, or behaviors during the communication process |
|
|
Term
|
Definition
| a short-term inducement of value offered to arouse interest in buying a good or service |
|
|
Term
|
Definition
| a company or person who has information to convey during the communication process |
|
|
Term
|
Definition
| the outcome of a direct marketing offer, designed to motivate people to visit a business |
|
|
Term
|
Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor |
|
|
Term
| consumer-oriented sales promotions |
|
Definition
| sales tools used to support a company's advertising and personal selling directed to ultimate consumers (consumer promotions) |
|
|
Term
|
Definition
| advertising programs by which a manufacturer pays a percentage of the retailer's local advertising expense for advertising the manufacturer's products |
|
|
Term
|
Definition
| the cost of reaching 1,000 individuals or households with the advertising message in a given medium (M is the Roman numeral for 1,000) |
|
|
Term
|
Definition
| the average number of times a person in the target audience is exposed to a message or an advertisement |
|
|
Term
|
Definition
| an advertising agency that provides the most complete range of services, including market research, media selection, copy development, artwork and production |
|
|
Term
|
Definition
| a reference number used by advertisers that is obtained by multiplying reach (expressed as a percentage of the total market) by frequency |
|
|
Term
|
Definition
| program-length (30 minute) advertisements that take an educational approach to communication with potential customers |
|
|
Term
|
Definition
| consist of the company's own advertising staff, who may provide full services or a limited range of services |
|
|
Term
| institutional advertisements |
|
Definition
| advertisements designed to build goodwill or an image for an organization rather than promote a specific good or service |
|
|
Term
|
Definition
| advertising agencies that specialize in one aspect of the advertising process, such as providing creative services to develop the advertising copy, buying previously unpurchased media space, or providing Internet services |
|
|
Term
|
Definition
| tests conducted after an advertisement has been shown to the target audience to determine whether it accomplished its intended purpose |
|
|
Term
|
Definition
| tests conducted before an advertisement is placed in any medium to determine whether it communicates the intended message or to select among alternative versions of the advertisement |
|
|
Term
|
Definition
| advertisements that focus on selling a good or service and which take three forms: (1) pioneering (or informational), (2) competitive (or persuasive), and (3) reminder |
|
|
Term
|
Definition
| a consumer sales promotion tool that uses a brand-name product in a movie, television show, video game, or a commercial for another product |
|
|
Term
|
Definition
| methods of obtaining nonpersonal presentation of an organization, good or service without direct cost, such as news releases, news conferences, and public service announcements |
|
|
Term
|
Definition
| the percentage of households in a market that are tuned to a particular TV show or radio station |
|
|
Term
|
Definition
| the number of different people or households exposed to an advertisement |
|
|
Term
| trade-oriented sales promotions |
|
Definition
| trade promotions--sales tools used to support a company's advertising and personal selling directed to wholesalers, retailers or distributors |
|
|
Term
| account management policies |
|
Definition
| specifies whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out |
|
|
Term
|
Definition
| a need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information |
|
|
Term
|
Definition
| a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution |
|
|
Term
|
Definition
| the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis |
|
|
Term
| formula selling presentation |
|
Definition
| a presentation format that consists of information that must be provided in an accurate, thorough and step-by-step manner to inform the prospect |
|
|
Term
|
Definition
| the practice of using team selling to focus on important customers to as to build mutually beneficial, long-term, cooperative relationships |
|
|
Term
| need-satisfaction presentation |
|
Definition
| a presentation format that emphasizes probing and listening by the salesperson to identify needs ant interests of prospective buyers. |
|
|
Term
|
Definition
| sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales and follows up on customers' use of a product or service |
|
|
Term
|
Definition
| processes routine orders or reorders for products that were already sold by the company |
|
|
Term
|
Definition
| the practice whereby buyers and sellers combine their expertise and resources to create customized solutions, commit to joint planning, and share customer, competitive and company information for their mutual benefit and ultimately the customer (enterprise selling) |
|
|
Term
|
Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
|
|
Term
|
Definition
| sales activities occurring before, during and after the sale itself, consisting of six stages: (1) prosepcting (2) preapproach (3) approach (4) presentation (5) close (6) follow-up |
|
|
Term
|
Definition
| the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time |
|
|
Term
|
Definition
| planning the selling program and implementing and evaluating the personal selling effort of the firm |
|
|
Term
|
Definition
| a statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed |
|
|
Term
|
Definition
| specific goals assigned to a salesperson, sales team, branch sales office or sales district for a stated time period |
|
|
Term
|
Definition
| the use of computer, information, communication and internet technologies to make the sales function more effective and efficeint |
|
|
Term
| stimulus-response presentation |
|
Definition
| a presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy |
|
|
Term
|
Definition
| the practice of using an entire team of professionals in selling to and servicing major customers |
|
|
Term
|
Definition
| this formula-based method integrates the number of customers served, call frequency, call length and available selling time to arrive at a figure for the salesforce size |
|
|
Term
|
Definition
| web page that serves as a publicly accessible personal journal for an individual or organization |
|
|
Term
|
Definition
| electronic shopping agents or robots that comb Web sites to compare prices and product or service features |
|
|
Term
|
Definition
| an interactive, internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (or components), prices, and delivery options |
|
|
Term
|
Definition
| a process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases |
|
|
Term
|
Definition
| computer files that a marketer can download onto the computer or mobile phone of an online shopper who visits the marketer's web site |
|
|
Term
|
Definition
| an online consumer who researches products online and then purchases them at a retail store |
|
|
Term
|
Definition
| the growing practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer |
|
|
Term
|
Definition
| the practice of changing prices for products and services in real time in response to supply and demand conditions |
|
|
Term
|
Definition
| a view that customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds |
|
|
Term
|
Definition
| two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller |
|
|
Term
|
Definition
| the subsegment of all Internet users who employ this technology to research products and services and make purchases |
|
|
Term
|
Definition
| the solicitation of a consumer's consent (called "opt-in") to receive e-mail and advertising based on personal data supplied by the consumer |
|
|
Term
|
Definition
| the consumer-initiated practice of generating content on a marketer's web site that is custom tailored to an individual's specific needs and preferences |
|
|
Term
|
Definition
| communications that take the form of electronic junk mail or unsolicited e-mail |
|
|
Term
|
Definition
| an internet-enabled promotional strategy that encourages individuals to forward marketer-initiated messages to others via e-mail, social networking web sites, and blogs |
|
|
Term
|
Definition
| websites that allow people to congregate online and exchange views on topics of interest |
|
|
Term
|
Definition
| relates the expense of marketing effort to the marketing results obtained |
|
|
Term
| long-range marketing plans |
|
Definition
| typically cover marketing activities from two to five years in the future |
|
|
Term
|
Definition
| deal with marketing goals and strategies for a product, product line, or entire firm for a single year |
|
|
Term
| generic business strategy |
|
Definition
| strategy that can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage |
|
|
Term
|
Definition
| focuses on reducing expenses and lowers product prices while targeting a broad array of market segments |
|
|
Term
|
Definition
| requires products to have significant points of difference in product offerings, brand image, higher quality, advanced technology or superior service to charge a higher price while targeting a broad array of market segments |
|
|
Term
|
Definition
| involves controlling expenses and lowers product prices targeted at a narrow range of market segments |
|
|
Term
| differentiation focus strategy |
|
Definition
| requires products to have significant points of difference to target one or only a few market segments |
|
|
Term
|
Definition
| seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D--manufacturing efficiencies. |
|
|
Term
| product or program champion |
|
Definition
| person who is able and willing to cut red tape and move the program forward |
|
|
Term
|
Definition
| an aid to implementing a marketing plan consisting of four columns: (1) the task (2) the person responsible for completing that task (3) the date to finish the task (4) what is to be delivered |
|
|
Term
|
Definition
| have authority and responsibility to issue orders to the people who report to them (senior marketing manager) |
|
|
Term
|
Definition
| have authority and responsibility to advise people in line positions but cannot issue direct orders to them |
|
|
Term
|
Definition
| organization in which a unit is responsible for specific product offerings |
|
|
Term
|
Definition
| organization that represent the different departments or business activities within a firm (manufacturing, market, finance) |
|
|
Term
|
Definition
| organization in which sales territories are subdivided according to geographical location |
|
|
Term
|
Definition
| organization which utilizes specific customer segments (banking, healthcare, manufacturing segments) |
|
|
Term
|
Definition
| combination of market-based groupings and product groupings |
|
|
Term
|
Definition
| the application of modern measurement technologies to understand, quantify and optimize marketing spending |
|
|
