Term
|
Definition
| is one which a manufacturer convinces wholesalers, distributors, or retailers to sell its product through advertising and promotions. |
|
|
Term
|
Definition
| focuses on creating demand for a product among consumers so that businesses agree to sell the product. Pharmaceutical companies are a good example. |
|
|
Term
|
Definition
| A strategy of selling a product in as many outlets as possible |
|
|
Term
|
Definition
| A strategy of selling products at specific outlets and or locations |
|
|
Term
| • Exclusive Distribution- |
|
Definition
| A strategy of selling products through one or few retailers in a specific |
|
|
Term
| • Third Party Logistics (3PL) |
|
Definition
| firms-Firms to which other companies outsource their entire order processing and shipping departments |
|
|
Term
|
Definition
| The process of ensuring your firm has an adequate amount of products and a wide enough assortment of them to meet your customers’ needs |
|
|
Term
|
Definition
| A situation that occurs when a firm runs out of a product a customer wants to buy |
|
|
Term
|
Definition
| Backup inventory that serves as a buffer in case the demand for a product surges or the supply of it drops off for some reason |
|
|
Term
|
Definition
| A term used to describe a reduction or loss in inventory due to shoplifting, employee theft, paperwork errors, and supplier fraud |
|
|
Term
|
Definition
| A system in which a firm keeps very little inventory on hand. Instead, its suppliers ship it inventory as needed |
|
|
Term
| • Vendor-managed inventory (VMI)- |
|
Definition
| The practice of having your suppliers monitor your inventory levels. |
|
|
Term
|
Definition
| Mass producing goods customized to the specifications of individual consumers |
|
|
Term
| • Electronic Product Code (EPC)- |
|
Definition
| A barcode that can distinguish between two seemingly identical products. It contains information about where the product was manufactured and where it was shipped from and bound to |
|
|
Term
| • Radio Frequency identification (RFID) tag |
|
Definition
| A tag that emits radio signals that can record and track a shipment as it comes in and out of a facility |
|
|
Term
| • Integrated Marketing Communications (IMC)- |
|
Definition
| approach designed to deliver one consistent message to buyers across an organization’s promotions through media such as TV, radio, internet, magazines, etc. |
|
|
Term
|
Definition
| Marketing media that is available in different places such as cell phones or on forms of transportation |
|
|
Term
|
Definition
| A form of direct marketing that involves contacting people by phone. |
|
|
Term
|
Definition
| Delivering personalized promotional materials directly to individual consumers. Materials |
|
|
Term
|
Definition
| A specific product benefit consumers will remember “Just Do it” “Pizza delivered in 30 mins or its free |
|
|
Term
| • Percent of sales method |
|
Definition
| A budgeting technique based on a set percentage of current or projected sales |
|
|
Term
|
Definition
| A budgeting technique wherby companies spend what they think they can afford promoting a product |
|
|
Term
|
Definition
| A budgeting method whereby companies make sure their promotion budgets are comparable to their competitors. |
|
|
Term
| • Objective and task method |
|
Definition
| A budget based on a company’s promotion objectives and the costs of the activities and tasks necessary to accomplish those objectives |
|
|
Term
| • Amplified (or controlled) campaigns |
|
Definition
| Campaign that grow with little or no input from the marketer |
|
|
Term
| Organic (or in the wild) campaigns |
|
Definition
| campaigns that have been strategically planned, have defined goals for the brand being marketed, |
|
|
Term
|
Definition
| TO share content with another person |
|
|
Term
|
Definition
| A measure of how quickly a brand is called to mind |
|
|
Term
|
Definition
| When content from two or more sources is combined |
|
|
Term
|
Definition
| Copy that encourages users to take a particular action |
|
|
Term
| • Key performance indicators KPI- |
|
Definition
| known as key success indicators (KSIs) these help an organization define and measure progress toward organizational goals |
|
|
Term
|
Definition
| Covert and manipulative use of word of mouth |
|
|
Term
| • Cost per impression (CPI/CPM)- |
|
Definition
| advertiser pays each time the advertisement appears on the publisher’s page |
|
|
Term
|
Definition
| - advertiser only pays when their advertisement is clicked on by the interested party |
|
|
Term
| • Cost per acquisition (CPA)- |
|
Definition
| advertiser only pays when an advertisement delivers an acquisition |
|
|
Term
|
Definition
| owners of lower-traffic sites sell banner space at a fixed cost per month regardless of the amount of traffic or impressions. |
|
|
Term
|
Definition
| advertisers pay for the rollover advertisements, placed in videos or applications based on the interactions with the advertisement. |
|
|
