Review Part One
Terms
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- Marketing Intermediary Numbers
- Intensive, Selective, or Exclusive Distribution
- Line Extension
- New items under same brand name
- Product line length
- Number of items in a product line
- Favorable Brand Name Qualities
- Suggest benefits and qualities, easy to pronounce, recognize and remember, distinctive, extendable, translatable, capable of registration and legal protection
- Brand Sponsorship Options
- Manufacturers Brands, Store Brands, Licensed Brands, Co-Branding
- Product mix
- Set of all product lines and items a seller offers
- Brand Position Levels
- Product attributes, Product Benefits, Beliefs and Values
- New Brands
- Developed when a new brand is needed when old brand is waning, also used for new products
- Vertical Marketing System Types
- Corporate, Contractual, Administered and Franchaise Organization
- Vertical Marketing System
- Producers, wholesalers and retailers act as a unified system. One channel member owns the other.
- Levels of Product and Services
- Core customer value, actual product, augmented product
- Unsought products
- Little product awareness, negative interest, various prices and distribution, aggressive advertising and personal selling
- Internal Marketing
- Orienting and motivating customer-contact employees and supporting service people to work as a team
- Channel Objectives
- Stated in terms of targeted levels of customer service
- Individual Product Decision
- Product attributes, Branding, Packaging, Labeling, Product and support services
- Hybrid Marketing Channel System
- Also called Multichannel Distribution System
- Service
- Activity or benefit on party can offer another, intangible and doesn't result in ownership
- Transaction Completing
- Information, promotion, contact, matching and negotiation
- Channel Levels
- Amount indicates length of a channel
- Service-Profit Chain
- Internal service quality, good service value, satisfied and productive employees, happy customers, healthy growth and profits
- Indirect Marketing Channels
- Contains one or more middle men
- Types of Consumer Goods
- Convenience goods, shopping, specialty, unsought products
- Effective Channels
- Has each member assigned to a task and cooperate to attain channel goals
- Value Delivery Network
- Made up of company, suppliers, distributors and customers who join up to improve performance
- Control Issues
- How and whom should control be given?
- Product Feature Considerations
- Value to customer, Product style and design
- Augmented Product
- Additional services and benefits like credit, installation or warranty
- Types of Industrial Goods
- Materials, parts, capital items, supplies and services
- Upstream
- Firms that supply raw materials and parts to create a good
- Packaging
- Designing and producing container or wrapper for a product
- Policy and Distribution Decisions
- Exclusive distribution, dealing, territorial agreements and tying agreements
- Brand Equity
- Positive differential effect of knowing the brand and customer response, competitive advantages, and strong relationships
- Industrial Products
- Purchased for further processing
- Integrated Logistics Management
- Emphasizes teamwork inside company and marketing channel orgs, maximize performance
- Inventory Management
- Balance between too much and too little, J-I-T, RFID
- Brand Strategy Decisions
- Positioning, Name, Sponsorship, Development
- Analyzing Consumer Needs
- Answering key questions to help determine customer needs.
- Marketing Channel
- interdependent organizations that help make a product or serivce available to consumers or business users
- Product mix dimensions
- length (number of items), width (different products), depth (different versions), consistent (closely related to various lines)
- Branding
- Building and managing brands
- Service characteristics
- Intangibility, Variability, Inseparability, Perishibility
- Logistic Functions
- Warehousing, inventory management, transportation, logistics information management
- Brand
- name, term, sign, symbol, design or combo that identifies the products or services that differentiates from competitors,
- Channel Members Offer
- Contacts, experience, specialization, scale of operation
- Marketing Logistics (Physical Distribution)
- Planning, implementing, and controlling physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements
- Product Quality Dimensions
- Performance and conformance quality
- Ways to adjust line length
- Filling, stretching
- Labeling
- printed information appearing on or with the package
- Good Packages Should
- Market brand, protect contents, provide convenience and ease of use, ensure product and user/child safety, address environmental concerns
- Misc. Market Offerings
- Organization, Person, Place, Ideas (social marketing)
- Interactive Marketing
- Training service employees in customer interaction
- Logistic Goals
- Deliver targeted level of customer service at least cost
- Market Offerings
- Tangible goods and services, or combination
- Firms Must Balance
- costs and consumer price preferences
- Labeling Functions
- Identifies, describes and promotes product.
- Service Marketing Tasks
- Service Differentiation, quality, and productivity
- Product and Service Classification
- Industrial and Consumer Products, difference based on purpose
- Channel Design Decisions
- Analyzing consumer needs, setting channel objectives, identifying and evaluating major alternatives
- Intermodal Transportation
- Piggyback, fishyback, trainship
- Product
- anything that can be offered to a market for attention, acquisition, use or consumption and might satisfy a want or need
- Adaptive Criteria
- Long-term channel commitment vs. channel flexibility
- Conventional Distribution Channel
- Has one or more independent producer, wholesaler, retailer as a seperate business seeking to maximize its profits even at expense of profits from the whole system
- Specialty product
- Product that is strong brand preference, loyalty, special purchasing effort, high price, exclusive distribution, carefully targeted
- How Channel Members Add Value
- Greater efficiency in marketing to target
- Disintermediation
- Product and service producers cut out the middle men or displace resellers with radical new ones
- Corporate VMS
- Combines succesive state of product and distribution under single ownership
- Support Service Monitoring
- Done to assess value, fix problems and find new technology
- Supply Chain
- Outbound, inbound and reverse distribution
- Multichannel Distribution System
- A firm sets up two or more marketing channels to reach customer segments
- Brand Extension
- Using successful brand name to launch a new or modifified product
- Capital Items
- Items that aid in buyers production or operations
- Horizontal Conflict
- Occurs among firms at the same level of the channel
- Convenience goods
- Purchased frequently, low priced, mass advertised, wide distribution
- Vertical Conflict
- Occurs between different levels of the same channel
- Differentiates Marketing Offers from Competition
- creating and managing customer experiences
- Product Line
- Group of products closely related because of similar function, groups, marketing and price range
- Multibranding
- Way to establish more features and appeal to different buying motives
- Channel Objectives Influenced By
- Cost, company nature, firms products, marketing intermediaries, competitors, environment
- Intermediary Types
- Company sales force, manufacturer's agency, industrial distributors
- Shopping products
- Purchased somewhat frequently, quality, style, higher price, selective distribution, planning and effort
- Branding Advantages to Sellers
- Basis for products quality story, provides legal protection, helps to segment markets
- Horizontal Marketing System
- Companies at the same level join to follow a new marketing opportunity
- Transaction Fulfilling
- Physical distribution, financing and risk taking
- Economic Criteria
- Compares sales, costs and profitabilty of channel alternative
- Franchise Organization Types
- Manufacturer=sponsored retailer and wholesalers, Service-firm sponsored retailer franchise
- Channel Alternatives
- Control Issues, Economic and Adaptive Criteria
- Partner Relationship Management
- Managing and motivating channel members
- Logistic Advantages
- Competitive advantage in better service and lower prices, loser costs, increased product variety, and efficiency
- Services Marketing
- External Marketing, Internal Marketing, Interactive Marketing
- Warehousing
- How many, what type, where, storage, distribution, automated
- Integrated Logistics Management Requirements
- Cross-Functional teamwork, building partnerships, third-party logistics
- Products can be
- physical objects, services, persons, places, organizations, ideas or combination
- External Marketing
- Traditional Marketing via the 4 Ps
- Downstream
- Marketing channel partners link firm to customer
- Contractual VMS
- Firms at different levels join together through contracts to gain more economies of scale
- Consumer Products
- Products bought by consumers, includes other marketable entities
- Direct Marketing Channels
- No middle mand between producer and consumer