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Marketing Set Questions
Terms in this set (29)
What are the differences between an indirect and a direct marketing channel?
In a Direct Marketing Channel the product or service goes direct ally from the manufacturer to the end consumer. In an Indirect Marketing Channel, there is at least one intermediary (Retailer or Wholesaler or both).
What are the differences among the three types of vertical marketing systems?
The administered vertical marketing system is one where there is no common ownership and no contractual relationships but the dominant channel member controls the channel relationship. The Contractual vertical marketing system is one where there is contractual agreements between different firms in the supply chain to try and increase economies of scale and reduce conflict. Lastly, the Corporate Vertical marketing system is one where a parent company has complete control over its supply chain.
How do firms develop strong strategic partnerships with their marketing channel partners?
Mutual Trust, Open Communication, Common Goals, Interdependance, and Credible Commitments.
What are the marketing channel links associated with each information flow?
Inbound transportation, Receiving and Checking, Storing and Cross-Docking, Getting Merchandise Floor-ready, Shipping Merchandise to stores, Inventory Management
How do marketing channel members use data warehouses to make decisions?
through EDI (Electronic Data Exchange) large quantities of data are stored and can be examined to show trends and patterns in the consumers preferences.
What is EDI and how is it used?
EDI is Electronic Data Interchange and it is used from computer to computer to exchange business documents from a retailer to a vendor and back.
Why do some marketing channels use VMI (Vendor-Managed-Inventory), while others do not?
VMI puts more responsibility and pressure on the manufacturer and not all of them want that. VMI makes them responsible for maintaining the retailers inventory.
What is the difference between a push and pull marketing channel?
Push=increasing demand by motivating customers, Pull= getting the customer to pull the product into the supply chain by demanding it.
How does merchandise flow through a typical marketing channel?
From the Manufacturer, it either goes direct ally to the store or to a distribution center.
Why have just-in-time supply chain systems become so popular?
These supply chain systems get products to the store in just enough time that they are never off of the shelves.
What issues should manufacturers consider when choosing retail partners?
Channel Structure, Customer Expectations, Channel Member Characteristics, and Distribution Intensity
What is the difference between intensive, exclusive, and selective levels of distribution intensity?
Intensive= a strategy designed to get products into as many outlets as possible, Exclusive=Strategy where only selected retailers can sell a manufacturers brand, Selective= a cross between Intensive and Exclusive, using a select few customers in a territory.
What strategies distinguish the different types of food retailers?
Supermarkets, Super centers, Convenience stores, and Warehouse Clubs
What strategies distinguish the different types of general merchandise retailers?
Full-line discount, category specialist, drug, extreme value, specialty, department, off-price, and extreme value
What are the advantages of traditional stores versus Internet-only stores?
traditional store customers can browse, touch or feel the products, personal service, cash and credit payment, entertainment, or social aspect, Immediate Gratification
What challenges do retailers face when marketing their products through multiple channels?
Effective CRM (Customer Relation Management), Brand Image, Pricing, and Supply Chain
What are the different steps in the communication process?
The sender->The transmitter(encoding)-> The Communication Channel(medium)-> The Receiver (Noise + Feedback Loop)
What is the AIDA model?
a model that shows the mental stages customers should move in when advertised to. Awareness, Interest, Desire, and Action!
What are the different elements of an IMC program? (Integrated Marketing Communication)
Advertising, Public Relations (PR), Sales Promotions, Personal Selling, Direct Marketing, Online Marketing, Goals
Why is the objective-and-task method of setting an IMC budget better than the rule-of-thumb methods?
Objective and task are more selective while the rule of thumb is more general.
How do firms use GRP to evaluate the effectiveness of traditional media?
GRP= Frequency x Reach so it shows a lot about the advertisement.
How would a firm evaluate the effectiveness of its Google advertising?
Search Engine Marketing (SEM)
What are the steps involved in planning an ad campaign?
Step 1: Identify Target Audience Step 2: Set Advertising Objectives Step 3:Determine Advertising Budget Step 4:Convey the Message Step 5:Evaluate and Select Media Step 6:Create Advertisements
What are the differences between informative, persuasive, and reminder advertising?
Informative= communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase. Persuasive= communication used to motivate customers to take action. Reminder= communication used to remind consumer of a product or to prompt purchases.
What are the pros and cons of the different media types?
Some reach more people than others, some are more expensive, some are highly targeted, some are cheap,
How can the effectiveness of advertising be evaluated?
Pretesting, Tracking, and Posttesting
Why do companies use public relations as part of their IMC strategy?
it is "free" media attention and the image of the product or firm is very important.
What are the elements of a public relations toolkit?
cause-realated marketing and event sponsorship
What are various forms of sales promotions?
Coupons, Deals, Contests, Premiums, Sweepstakes, Samples, Loyalty Programs,Rebates, Point-of-Purchase displays, product placement, ect.
Why are event sponsorships, product placements, and branded entertainment so popular?
When an advocacy position is taken by a spokesperson in an advertisement, this is known as a(n) ad.
Smart Display Campaigns Use Full Automation To Optimize And Automate Nearly All Aspects Of Your Display Campaigns. All You Have To Do Is Provide A Few Inputs. What Can A User Input In A Smart Display Campaign?
A store that offers a wide variety of shoes for men, women, and children would most likely be considered a(n)
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