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lecture notes busi 240
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competition, costs, company objectives, customers, channel members
5 C's of pricing
Product, Price, Place, Promotion
4 P's of marketing
no frills products offered at a low price w/o any branding info
generic brand
buying something that has been purchased before but changing something about it
adapted buy
a supply chain system in which there is no common ownership and no contractual
relationships, but the dominant channel member controls the channel relationship
administered marketing channel
the process of buying and selling goods or services to be used in the production of other
goods and services, for consumption by the buying organization, or for resale by
wholesalers and retailers
B2B
the process in which businesses sell to consumers
B2C
A segmentation method that divides customers into groups based on how they use the
product or service. Some common behavioral measures include occasion and loyalty.
behavioral segmentation
the grouping of consumers on the basis of the benefits they derive from
products/services
benefit segmentation
measures how many consumers in a market are familiar with the brand and what it
stands for; created through repeated exposures of the various brand elements in the
firm's communications to consumers
brand awareness
occurs when a brand extension adversely affects consumer perceptions about the
attributes the core brand is believed to hold
brand dilution
the set of assets and liabilities linked to a brand that adds or subtracts from the value
provided by the product/service
brand equity
the use of the same brand in a different product line
brand extension
contractual arrangement between firms where one firm allows another to use its brand
name, logo, symbols in exchange for a negotiated fee
brand licensing
occurs when a consumer buys the same brand's product/service repeatedly over time
rather than buy from multiple suppliers within the same category
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lecture notes busi 240
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brand loyalty
a strategy where marketers change a brand's focus to target new markets or realign the
brand's core emphasis w/changing market preferences
brand positioning/repositioning
the point at which the number of units sold generates just enough revenue to equal the
total costs; at this point, profits are zero
break-even point
need recognition
information search
evaluation of alternatives
purchase decision
purchase
post-purchase
buying process steps
the process in which consumers sell to other consumers
C2C
retailers that offer a narrow variety but a deep assortment of merchandise
category specialists
the practice of marketing two or more brands together, on the same package or
promotion
co-branding
Threatening or punishing the other channel member for not undertaking certain tasks.
Delaying payment for late delivery would be an example.
coercive power
a type of service gap; refers to the difference between the actual service provided to
customers and the service that the firm's promotion program promises
communication gap
A person who purchases goods and services for personal use
consumer
runs steadily throughout the year and therefore is suited to products and services that
are consumed continually at relatively steady rates and that require a steady level of
persuasive or reminder advertising
continuous advertising
independent firms at different levels of the supply chain join together through contracts
to obtain economies of scale and coordination and to reduce conflict
contractual marketing channel
equals the price less the variable cost per unit. variable used to determine the
break-even point in units
contribution per unit
