Corperate channel of distribution

One firm owns either all channel members or the firms at the next level in

simplifies consumers' evaluation of alternative products by establishing a

are used to encourage buyers to make their purchases off-season. This strat

Canned Sales Presentation

A memorized message that is delivered the same to each prospect.

Permits the seller to charge different prices to different buyers in simila

alternative pricing objectives

A firm's pricing strategy may reflect short-term goals other than profit ma

Is the process of assembling and pooling relatively small individual shipme

or if price decreases it will increase demand and increase total revenue

Prevents businesses form restraining trade and interstate commerce. Pricing

are reductions from the list price given to intermediaries in exchange for

the design and operation of facilities for storing and moving goods

customer service standard

Different customers requiring different levels of service

Are given to encourage buyers to provide payment promptly

The Creative Platform

Provides the overall concept and theme for an advertising campaign.

Percentages or dollar amounts added to the cost of sales to arrive at the p

Occurs when a firm sells select products below their usual price as a means

The inventory level at which new orders need to be placed to avoid a stakeo

Uses low introductory prices to gain a large share of the market more quick

Systems that move goods from the producer to the final consumer without usi

Is the process of separating goods by quality, color, or size

Exclusive Distribution Strategy

Limits the number of outlets employed to one or two intermediaries within e

Specialized agencies that provide alternate forms of transportation coordin

those that move goods with the cooperation and assistance of independent in

An additional category used for a very unusual class of consumer products.

freight transport companies that provide several shipment modes

Sales Force Allocation

Specific territories should attempt to match the talent and ability of sale

Refers to the physical handling of goods in both warehouse and transportati

selective distribution

a firm will sell through many, but not all, potential wholesalers and retai

are reductions from list prices that are given by sellers to buyers

Provides the overall concept and theme for an advertising campaign.

Retail price reductions, this is in response to low consumer demand

An increase in price will produce a decrease in demand and an increase in t

When confronted with rising costs marketers may maintain certain prices by

The means of moving goods from one location to another. The five major mode

The rate at which inventory is sold per time period

Prohibits any form of price discrimination that has the effect of reducing

Tests products and subjects them to consumer scrutiny, potential costumers

Extra inventory that a company holds to protect itself against uncertaintie

Establishes product prices as a function of product costs. This method requ

Maximum possible sales within a territory will vary according to several co

Include prestige pricing, odd-even pricing, price lining, and leader pricing

Include prestige pricing, odd-even pricing, price lining, and leader pricin

Compromised of all paid marketing communications other than advertising, pu

The process of seeking and identifying prospective buyers or "leads".

A shortage of product resulting from carrying too few in inventory.

Refers to the percentage of a target audience that is exposed to an ad thro

Is the process of acquiring firms that operate at different channel levels

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Adv. Marketing Vocab Terms

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Questions 100

Answers

1
Corperate channel of distribution
Include prestige pricing, odd-even pricing, price lining, and leader pricin
(5) Meeting objections
One firm owns either all channel members or the firms at the next level in
the identifiable characteristics of towns, cities, states, regions, and cou
2
(6) Closing the sale
A strategy that introduces new products at relatively high prices. Higher i
is the process of consolidating many items into a single container
Consists of those features that can be precisely specified (e.g., color, si
(6) Closing the sale
3
Price lining
typically done for a 5 year period and plays a significant role in strategy
Retail price reductions, this is in response to low consumer demand
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
simplifies consumers' evaluation of alternative products by establishing a
4
Seasonal Discounts
The means of moving goods from one location to another. The five major mode
The rate at which inventory is sold per time period
are used to encourage buyers to make their purchases off-season. This strat
large sample sizes yield more reliable results, but more expensive than sma
5
Canned Sales Presentation
large sample sizes yield more reliable results, but more expensive than sma
A memorized message that is delivered the same to each prospect.
purchase occasion, user status, user rate, and brand loyalty
Consists of those features that can be precisely specified (e.g., color, si
6
Flexible pricing
Permits the seller to charge different prices to different buyers in simila
Include customary pricing and price leadership
(6) Closing the sale
an unobtrusive date collection procedure.subjects behaviors are observed wi
7
(7) Follow-up.
Systems that move goods from the producer to the final consumer without usi
(7) Follow-up.
Refers to formal arrangements between buyers and sellers that create unique
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
8
alternative pricing objectives
A firm's pricing strategy may reflect short-term goals other than profit ma
Marks the start of full-scale production and the implementation of the comp
an unobtrusive date collection procedure.subjects behaviors are observed wi
those that move goods with the cooperation and assistance of independent in
9
Acumulation
Is the process of assembling and pooling relatively small individual shipme
Different customers requiring different levels of service
Specific territories should attempt to match the talent and ability of sale
the grouping of boxes on a pallet or skid
10
or if price decreases it will increase demand and increase total revenue
policies reflect different levels of transportation and other costs related
A firm's pricing strategy may reflect short-term goals other than profit ma
or if price decreases it will increase demand and increase total revenue
(3) Approach,
11
The Sherman Act
the order quantity that minimizes the sum of annual inventory carrying cost
Comprised of all the product lines that it offers
two or more transportation modes used in combination
Prevents businesses form restraining trade and interstate commerce. Pricing
12
Trade discounts
offers the same price to all buyers for purchases of essentially the same q
Is the process of separating goods by quality, color, or size
Includes both the tangible and intangible elements of a product.
are reductions from the list price given to intermediaries in exchange for
13
Warehousing
A strategy that introduces new products at relatively high prices. Higher i
the design and operation of facilities for storing and moving goods
the identifiable characteristics of towns, cities, states, regions, and cou
a firm will sell through many, but not all, potential wholesalers and retai
14
customer service standard
Establishes product prices as a function of product costs. This method requ
the processing of gathering data from a selected subgroup chosen from the p
One firm owns either all channel members or the firms at the next level in
Different customers requiring different levels of service
15
Cash discounts
(7) Follow-up.
Uses low introductory prices to gain a large share of the market more quick
Are given to encourage buyers to provide payment promptly
When confronted with rising costs marketers may maintain certain prices by
16
The Creative Platform
Provides the overall concept and theme for an advertising campaign.
an increase in price will produce a decrease in demand and a decrease in to
Attempts to set prices based on consumer responses to product prices. Marke
data collected specifically for the current research study.
17
Markups
A combination of marketing methods including advertising, sales, public rel
Estimating the demand for a brand or product category
the grouping of boxes on a pallet or skid
Percentages or dollar amounts added to the cost of sales to arrive at the p
18
Leader Pricing
Occurs when a firm sells select products below their usual price as a means
simplifies consumers' evaluation of alternative products by establishing a
Attempts to set prices based on consumer responses to product prices. Marke
made up of the people, equipment, and procedures to gather, sort, analyze,
19
Re-order point
Specific territories should attempt to match the talent and ability of sale
A shortage of product resulting from carrying too few in inventory.
Sets prices according to those charged by the firm's closest competitors. T
The inventory level at which new orders need to be placed to avoid a stakeo
20
Penetration pricing
The inventory level at which new orders need to be placed to avoid a stakeo
compares the impact of variables on individuals responses in a controlled s
large sample sizes yield more reliable results, but more expensive than sma
Uses low introductory prices to gain a large share of the market more quick
21
Direct channels
typically done for a 5 year period and plays a significant role in strategy
Stage at which viable ideas are first produced in tangible form and initial
Systems that move goods from the producer to the final consumer without usi
refers to the importance that consumers attach to the purchase of a particu
22
Sorting
(5) Meeting objections
Establishes product prices as a function of product costs. This method requ
Is the process of separating goods by quality, color, or size
large sample sizes yield more reliable results, but more expensive than sma
23
Selling Process Steps
(1) Prospecting,
purchase occasion, user status, user rate, and brand loyalty
(5) Meeting objections
those that move goods with the cooperation and assistance of independent in
24
Exclusive Distribution Strategy
Limits the number of outlets employed to one or two intermediaries within e
Establishes retail prices that are high, relative to competing brands. The
Identifiable characteristics of individuals and groups of people
two or more transportation modes used in combination
25
freight forwarder
in person data collection procedure in which the interviewer meets with 5-1
The concept of planning a comprehensive program that coordinates all promot
Specialized agencies that provide alternate forms of transportation coordin
are used to encourage buyers to make their purchases off-season. This strat
26
(2) Pre-approach,
(2) Pre-approach,
a firm will sell through many, but not all, potential wholesalers and retai
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
or if price decreases it will increase demand and decrease total revenue
27
Indirect channels
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
Comprised of all the product lines that it offers
those that move goods with the cooperation and assistance of independent in
Allows a company to integrate order processing, production, inventory plann
28
Unsought Goods
When confronted with rising costs marketers may maintain certain prices by
The rate at which inventory is sold per time period
in person data collection procedure in which the interviewer meets with 5-1
An additional category used for a very unusual class of consumer products.
29
Megacarriers
large sample sizes yield more reliable results, but more expensive than sma
(7) Follow-up.
a means of systematically acquiring information.
freight transport companies that provide several shipment modes
30
Sales Force Allocation
Attempts to set prices based on consumer responses to product prices. Marke
freight transport companies that provide several shipment modes
(6) Closing the sale
Specific territories should attempt to match the talent and ability of sale
31
Materials Handling
are reductions from list prices that are given by sellers to buyers
policies reflect different levels of transportation and other costs related
Refers to the receipt and transmission of sales order information. The prim
Refers to the physical handling of goods in both warehouse and transportati
32
selective distribution
two or more transportation modes used in combination
Arise from the economies and improved efficiency of selling in large quanti
Retail price reductions, this is in response to low consumer demand
a firm will sell through many, but not all, potential wholesalers and retai
33
Discounts
Allows a company to integrate order processing, production, inventory plann
are reductions from list prices that are given by sellers to buyers
Most effective strategy may be a compromise between these two extremes
compares the impact of variables on individuals responses in a controlled s
34
Creative Platform
Includes cost-plus pricing and return-on-investment pricing
an unobtrusive date collection procedure.subjects behaviors are observed wi
Allows a company to integrate order processing, production, inventory plann
Provides the overall concept and theme for an advertising campaign.
35
Markdowns
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
Provides consumers with information on the price per unit on or near the pr
Retail price reductions, this is in response to low consumer demand
those that move goods with the cooperation and assistance of independent in
36
Inelastic demand
policies reflect different levels of transportation and other costs related
Potential products are sorted relative to their strengths and weaknesses to
typically done for a 5 year period and plays a significant role in strategy
An increase in price will produce a decrease in demand and an increase in t
37
Customary prices
When confronted with rising costs marketers may maintain certain prices by
purchase occasion, user status, user rate, and brand loyalty
The means of moving goods from one location to another. The five major mode
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
38
Transportation modes
Tests products and subjects them to consumer scrutiny, potential costumers
Making products and materials available just as needed for production or re
The means of moving goods from one location to another. The five major mode
Refers to cost-reducing actions in one distribution function that increase
39
Using rate
the percentage change in the number of units demanded divided by the percen
The rate at which inventory is sold per time period
consists of different versions of a product within a product category
describes the stages that consumers go through in learning about new produc
40
Robinson-Patman Act
Limits the number of outlets employed to one or two intermediaries within e
Prohibits any form of price discrimination that has the effect of reducing
(2) Pre-approach,
(4) Presentation,
41
Concept Testing
the percentage change in the number of units demanded divided by the percen
Are given to encourage buyers to provide payment promptly
Occurs when a firm sells select products below their usual price as a means
Tests products and subjects them to consumer scrutiny, potential costumers
42
Safety Stock
Specialized agencies that provide alternate forms of transportation coordin
consists of information that has been collected for reasons not directly to
Arise from the economies and improved efficiency of selling in large quanti
Extra inventory that a company holds to protect itself against uncertaintie
43
Cost based pricing
Establishes product prices as a function of product costs. This method requ
Occurs when a firm sells select products below their usual price as a means
two or more transportation modes used in combination
Estimating the demand for a brand or product category
44
Sales Potential
One on one communications with the targeted customers and is aimed primaril
Provides the overall concept and theme for an advertising campaign.
Maximum possible sales within a territory will vary according to several co
(6) Closing the sale
45
(3) Approach,
refers to the importance that consumers attach to the purchase of a particu
(3) Approach,
Include prestige pricing, odd-even pricing, price lining, and leader pricin
the percentage change in the number of units demanded divided by the percen
46
Include prestige pricing, odd-even pricing, price lining, and leader pricing
Include prestige pricing, odd-even pricing, price lining, and leader pricin
detailed evaluation of the concepts commercial feasibility- product costs,
A memorized message that is delivered the same to each prospect.
The inventory level at which new orders need to be placed to avoid a stakeo
47
Sales Promotion
Refers to formal arrangements between buyers and sellers that create unique
Compromised of all paid marketing communications other than advertising, pu
are reductions from the list price given to intermediaries in exchange for
large sample sizes yield more reliable results, but more expensive than sma
48
Prospecting
The process of seeking and identifying prospective buyers or "leads".
An additional category used for a very unusual class of consumer products.
large sample sizes yield more reliable results, but more expensive than sma
freight transport companies that provide several shipment modes
49
Stockout
utilizes computer based programs to assess the impact of alternative market
an unobtrusive date collection procedure.subjects behaviors are observed wi
Making products and materials available just as needed for production or re
A shortage of product resulting from carrying too few in inventory.
50
Reach
Refers to the percentage of a target audience that is exposed to an ad thro
A memorized message that is delivered the same to each prospect.
Refers to cost-reducing actions in one distribution function that increase
are used to encourage buyers to make their purchases off-season. This strat
51
verticle integration
(5) Meeting objections
Different customers requiring different levels of service
Maximum possible sales within a territory will vary according to several co
Is the process of acquiring firms that operate at different channel levels
52
Assorting
Are price reductions that are intended to achieve specific goals
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
The rate at which inventory is sold per time period
putting together a variety of products to give a target market what it want
53
Unitary elasticity
offers the same price to all buyers for purchases of essentially the same q
Most effective strategy may be a compromise between these two extremes
Prohibits any form of price discrimination that has the effect of reducing
The change in demand is directly proportional to the change in price. Total
54
Order Leadtime
The average length of time between the customer placing an order and receiv
An additional category used for a very unusual class of consumer products.
The process of seeking and identifying prospective buyers or "leads".
made up of the people, equipment, and procedures to gather, sort, analyze,
55
Break-even analysis
allows managers to estimate the impact of alternative price levels on profi
policies reflect different levels of transportation and other costs related
(7) Follow-up.
Extra inventory that a company holds to protect itself against uncertaintie
56
Prestige pricing
or if price decreases it will increase demand and decrease total revenue
(2) Pre-approach,
The change in demand is directly proportional to the change in price. Total
Establishes retail prices that are high, relative to competing brands. The
57
Online Marketing
large sample sizes yield more reliable results, but more expensive than sma
Percentages or dollar amounts added to the cost of sales to arrive at the p
Marketing activities conducted through interactive online computer networks
Making products and materials available just as needed for production or re
58
Product Mix
Comprised of all the product lines that it offers
One on one communications with the targeted customers and is aimed primaril
are used to encourage buyers to make their purchases off-season. This strat
59
Product Adoption Process
Establishes product prices as a function of product costs. This method requ
Prohibits any form of price discrimination that has the effect of reducing
Tests products and subjects them to consumer scrutiny, potential costumers
describes the stages that consumers go through in learning about new produc
60
Partnership Selling
Tests products and subjects them to consumer scrutiny, potential costumers
Includes both the tangible and intangible elements of a product.
Refers to formal arrangements between buyers and sellers that create unique
Refers to the physical handling of goods in both warehouse and transportati
61
Include customary pricing and price leadership
Include customary pricing and price leadership
typically done for a 5 year period and plays a significant role in strategy
A strategy that introduces new products at relatively high prices. Higher i
consists of information that has been collected for reasons not directly to
62
price elasticity of demand
the percentage change in the number of units demanded divided by the percen
those that move goods with the cooperation and assistance of independent in
One on one communications with the targeted customers and is aimed primaril
the design and operation of facilities for storing and moving goods
63
Product Screening
Potential products are sorted relative to their strengths and weaknesses to
the order quantity that minimizes the sum of annual inventory carrying cost
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
An additional category used for a very unusual class of consumer products.
64
(5) Meeting objections
(5) Meeting objections
Refers to cost-reducing actions in one distribution function that increase
(3) Approach,
(6) Closing the sale
65
Elastic demand
made up of the people, equipment, and procedures to gather, sort, analyze,
an increase in price will produce a decrease in demand and a decrease in to
the process by which the total potential market for a product is divided in
Allows a company to integrate order processing, production, inventory plann
66
Suboptimization
Marketing activities conducted through interactive online computer networks
a series of commercial experiments to test the acceptance of the product an
Refers to cost-reducing actions in one distribution function that increase
(1) Prospecting,
67
Unit pricing
Uses low introductory prices to gain a large share of the market more quick
An increase in price will produce a decrease in demand and an increase in t
Potential products are sorted relative to their strengths and weaknesses to
Provides consumers with information on the price per unit on or near the pr
68
(4) Presentation,
factors that influence consumers' patterns of living or lifestyle.
Include prestige pricing, odd-even pricing, price lining, and leader pricin
(4) Presentation,
Refers to cost-reducing actions in one distribution function that increase
69
Direct Marketing
One on one communications with the targeted customers and is aimed primaril
a firm will sell through many, but not all, potential wholesalers and retai
policies reflect different levels of transportation and other costs related
putting together a variety of products to give a target market what it want
70
or if price decreases it will increase demand and decrease total revenue
or if price decreases it will increase demand and decrease total revenue
(5) Meeting objections
the processing of gathering data from a selected subgroup chosen from the p
Process of searching for new product opportunities
71
Demand based pricing
a means of systematically acquiring information.
Occurs when a firm sells select products below their usual price as a means
The change in demand is directly proportional to the change in price. Total
Attempts to set prices based on consumer responses to product prices. Marke
72
Unit loading
Percentages or dollar amounts added to the cost of sales to arrive at the p
(6) Closing the sale
Potential products are sorted relative to their strengths and weaknesses to
the grouping of boxes on a pallet or skid
73
Extended/Augmented Product
Provide the medium through which promotional messages are sent and delivere
Are given to encourage buyers to provide payment promptly
Is the process of separating goods by quality, color, or size
Includes both the tangible and intangible elements of a product.
74
Test Marketing
a series of commercial experiments to test the acceptance of the product an
Making products and materials available just as needed for production or re
Provide the medium through which promotional messages are sent and delivere
75
Quantity Discounts
Include customary pricing and price leadership
Arise from the economies and improved efficiency of selling in large quanti
A memorized message that is delivered the same to each prospect.
describes the stages that consumers go through in learning about new produc
76
Odd-Even Pricing
(1) Prospecting,
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
predicts sales for the next month or quarter and are used for production sc
A combination of marketing methods including advertising, sales, public rel
77
Promotion Mix
Refers to formal arrangements between buyers and sellers that create unique
detailed evaluation of the concepts commercial feasibility- product costs,
Potential products are sorted relative to their strengths and weaknesses to
A combination of marketing methods including advertising, sales, public rel
78
Includes cost-plus pricing and return-on-investment pricing
Refers to formal arrangements between buyers and sellers that create unique
Includes cost-plus pricing and return-on-investment pricing
Limits the number of outlets employed to one or two intermediaries within e
are reductions from the list price given to intermediaries in exchange for
79
Containerization
Limits the number of outlets employed to one or two intermediaries within e
is the process of consolidating many items into a single container
A shortage of product resulting from carrying too few in inventory.
purchase occasion, user status, user rate, and brand loyalty
80
Price skimming
the processing of gathering data from a selected subgroup chosen from the p
A strategy that introduces new products at relatively high prices. Higher i
(6) Closing the sale
One on one communications with the targeted customers and is aimed primaril
81
Tangible Product
Making products and materials available just as needed for production or re
Consists of those features that can be precisely specified (e.g., color, si
Occurs when a firm sells select products below their usual price as a means
A strategy that introduces new products at relatively high prices. Higher i
82
intermodel transportation
A strategy that introduces new products at relatively high prices. Higher i
those that move goods with the cooperation and assistance of independent in
two or more transportation modes used in combination
Specialized agencies that provide alternate forms of transportation coordin
83
geographic pricing
Estimating the demand for a brand or product category
policies reflect different levels of transportation and other costs related
Most effective strategy may be a compromise between these two extremes
Establishes retail prices that are high, relative to competing brands. The
84
Integrated Marketing Communications
The concept of planning a comprehensive program that coordinates all promot
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
Extra inventory that a company holds to protect itself against uncertaintie
A shortage of product resulting from carrying too few in inventory.
85
Distribution-center concept
Uses low introductory prices to gain a large share of the market more quick
Establishes retail prices that are high, relative to competing brands. The
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
Most effective strategy may be a compromise between these two extremes
86
Idea Generation
allows managers to estimate the impact of alternative price levels on profi
Compromised of all paid marketing communications other than advertising, pu
Process of searching for new product opportunities
Establishes product prices as a function of product costs. This method requ
87
Allowances
simplifies consumers' evaluation of alternative products by establishing a
Are price reductions that are intended to achieve specific goals
Allows a company to integrate order processing, production, inventory plann
(7) Follow-up.
88
Commercialization
Most effective strategy may be a compromise between these two extremes
Marks the start of full-scale production and the implementation of the comp
A strategy that introduces new products at relatively high prices. Higher i
refers to the importance that consumers attach to the purchase of a particu
89
product development
Occurs when a firm sells select products below their usual price as a means
predicts sales for the next month or quarter and are used for production sc
Specialized agencies that provide alternate forms of transportation coordin
Stage at which viable ideas are first produced in tangible form and initial
90
competition based pricing
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
are reductions from the list price given to intermediaries in exchange for
a series of commercial experiments to test the acceptance of the product an
Sets prices according to those charged by the firm's closest competitors. T
91
The Six Product Categories
Arise from the economies and improved efficiency of selling in large quanti
Refers to formal arrangements between buyers and sellers that create unique
Establishes product prices as a function of product costs. This method requ
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
92
Product Line
Includes both the tangible and intangible elements of a product.
Extra inventory that a company holds to protect itself against uncertaintie
consists of different versions of a product within a product category
Include customary pricing and price leadership
93
Brainstorming
Compromised of all paid marketing communications other than advertising, pu
Prevents businesses form restraining trade and interstate commerce. Pricing
Small-group technique involving participants to interpret creative ideas on
two or more transportation modes used in combination
94
order processing
Refers to the receipt and transmission of sales order information. The prim
(1) Prospecting,
the process by which the total potential market for a product is divided in
Specific territories should attempt to match the talent and ability of sale
95
Just-in-time (JIT)
is the process of consolidating many items into a single container
Making products and materials available just as needed for production or re
two or more transportation modes used in combination
are reductions from the list price given to intermediaries in exchange for
96
Economic Order Quantity (EOQ)
Raw materials, Component Materials, Fabricated Parts, Accessory equipment,
the characteristic used to specify target market can be demographic or beha
the order quantity that minimizes the sum of annual inventory carrying cost
97
One price policy
offers the same price to all buyers for purchases of essentially the same q
is the process of consolidating many items into a single container
the grouping of boxes on a pallet or skid
Sets prices just below even dollar values (ex. $9.99) Buyers may implicitly
98
Electronic Data Interchange (EDI)
Provide the medium through which promotional messages are sent and delivere
Allows a company to integrate order processing, production, inventory plann
Small-group technique involving participants to interpret creative ideas on
Retail price reductions, this is in response to low consumer demand
99
business analysis
The process of seeking and identifying prospective buyers or "leads".
One on one communications with the targeted customers and is aimed primaril
detailed evaluation of the concepts commercial feasibility- product costs,
Specialized agencies that provide alternate forms of transportation coordin
100
Communication Channels
Different customers requiring different levels of service
a means of systematically acquiring information.
Provide the medium through which promotional messages are sent and delivere
Tests products and subjects them to consumer scrutiny, potential costumers

Adv. Marketing Vocab Terms Flashcards | StudBud