ch 14

Distinguish between a marketing channel and logistics.
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Terms in this set (26)
A marketing channel is an organized system of marketing institutions and their interrelationships, designed to enhance the flow and ownership of goods and services from producer to user. Logistics is the actual process of coordinating the flow of information, goods, and services among members of the marketing channel.
six major elements of physical distribution?customer service, transportation, inventory control, materials handling and protective packaging, order processing, and warehousing.What is the difference between marketing communications and integrated marketing communications (IMC)?Marketing communications are messages that deal with buyer-seller relationships from a variety of media. IMC coordinates all promotional activities to produce a unified, customer-focused promotional message.Differentiate between personal and nonpersonal selling.Personal selling is promotion conducted person-to-person between a seller and a buyer. It may take place face-to-face, over the telephone, through videoconferencing, or by computer links between buyer and seller. Nonpersonal selling is promotion conducted without being face-to-face with the buyer.six major categories of nonpersonal selling?advertising, product placement, sales promotion, direct marketing, public relations, and guerrilla marketing.How is sponsorship different from advertising?Although sponsorship generates brand awareness, the sponsor has little control over the message or even the coverage, unlike advertising.What are the goals of institutional advertising?Institutional advertising promotes a concept, an idea, a philosophy, or the goodwill of an industry, company, organization, person, geographic location, or government agency.At what stage in the product lifecycle are informative ads used?Informative ads are common in the introductory stage of the product lifecycle.comparative advertising?Comparative advertising makes extensive use of messages with direct comparisons between competing brands.What is the direct sales results test? Why is it difficult to administer?The direct sales results test reveals the specific impact on sales revenues for each dollar of promotional spending. Administering this test is difficult because marketers cannot control other variables operating in the marketplace.What was the purpose of the Robinson-Patman Act?to prohibit price discrimination in sales to other producers, wholesalers, or retailers that are not based on a cost differential.What laws require sellers to maintain minimum prices for comparable merchandise?unfair-trade laws require sellers to maintain minimum prices for comparable merchandise.What laws allow manufacturers to set minimum retail prices for their products?Fair-trade laws permitted manufacturers to set minimum retail prices for products and require their dealers to sign contracts agreeing to abide by such prices.What are the two basic ways in which marketers determine prices?Marketers determine prices by applying the theoretical concepts of supply and demand and by completing cost-oriented analysis.four types of market structurespure competition, monopolistic competition, oligopoly, and monopoly.Identify the two types of costs that make up a product's total cost.composed of total variable costs and total fixed costs.What are the determinants of elasticity?The degree of consumer responsiveness to price changes—elasticity—is affected by such factors as availability of substitute or complementary goods, the classification of a good or service as a luxury or a necessity, the portion of a consumer's budget spent on an item, and the time perspective.