Busi 406 Final exam review
Advertising allowance Discount if retailers agree to advertising product in local markets
are products good or services both
auction companies Speed up sale of transaction by bringing together buyers and sellers
Provide information to bring buyers and sellers together
brokers Temporary relationship with buyer and seller
Paid for introduction
can you lie about prices no
Customers must pay cash
Cash and carry wholesaler
No financing
Price reductions to encourage buyers to pay quickly weather than waiting un
Cash discounts
end of the billing cycle
Catalog wholesalers Business through catalogs
Best buy, petsmart
category killers Specialization and category
Competes with a large assortment
Overlap between encoder and decoder
The message gets through
Common frame of reference
It is received as intended
It is remembered and acted upon
, Busi 406 Final exam review
If the customer doesn't like it, it is a defect
consumer-drive quality
Customer decides if it is of quality
7/11, wawa, qvc, vending machines
A store that offers products at a convenient location
convenience outlets
Value in finding them everywhere
Money made on margins due to high prices with convenience
A firm that owns and manages more than one store. They use centralized buy
corporate chain
to get quantity discounts
Larger stores that are organized into many separate departments and offer m
product lines
department stores
Sales and number of stores are declining in the US
Macys, nordstrom, jcpenney, sears
Distribution policy Delivers value to the customer
Never handle products
Drop-shippers Middle man
No transportation
Direct response method
Feedback
Email can be low cost feedback method
, Busi 406 Final exam review
For new packaged consumer products, 40%
including brand and product line
extensions, what percent of new products
fail
For new packages consumer products, over 80%
what percent fail
A business where owners sells the rights to their proprietary knowledge,
franchise processes, and trademarks to a third party retail outlet owned and run by
independent operators
General merchandise wholesalers (mill Carry wide variety of items
supply house)
Has costs, but less than the value added to the product
how are the costs for transportation
Different methods cost differently
Promotional objectives
Funds available
how do advertisers convey the message Nature of the media
- Print (Words to explain things in detail)
- Video (Emotional or visual)
how do different types of retailers price
compete
, Busi 406 Final exam review
Source credibility (Celebrities delivering the message)
how does Promotion frequency dance on
Exaggerated claims
ethical boundaries
Invading consumer privacy
- Advertisers and ad agencies share equal responsibility for false, misleading
how does the FTC control unfair practices unfair ads,
- Governments may require corrective advertising
Often on the job with manager acting as coach
how does training sales people work
It is never enough
May not follow the classic pattern
how do individual brands act in the
May be introduced in market growth or maturity
product life cycle
Not all brands are equally strong
Physical and online stores
number/location of stores
how is place related to retail Shopping atmosphere
Store size/layout/design
Store hours
Credit cards/types of payment
Pricing and discount policies
how is price related to retail
frequency/level of sale prices
Charges for delivery/service
Advertising allowance Discount if retailers agree to advertising product in local markets
are products good or services both
auction companies Speed up sale of transaction by bringing together buyers and sellers
Provide information to bring buyers and sellers together
brokers Temporary relationship with buyer and seller
Paid for introduction
can you lie about prices no
Customers must pay cash
Cash and carry wholesaler
No financing
Price reductions to encourage buyers to pay quickly weather than waiting un
Cash discounts
end of the billing cycle
Catalog wholesalers Business through catalogs
Best buy, petsmart
category killers Specialization and category
Competes with a large assortment
Overlap between encoder and decoder
The message gets through
Common frame of reference
It is received as intended
It is remembered and acted upon
, Busi 406 Final exam review
If the customer doesn't like it, it is a defect
consumer-drive quality
Customer decides if it is of quality
7/11, wawa, qvc, vending machines
A store that offers products at a convenient location
convenience outlets
Value in finding them everywhere
Money made on margins due to high prices with convenience
A firm that owns and manages more than one store. They use centralized buy
corporate chain
to get quantity discounts
Larger stores that are organized into many separate departments and offer m
product lines
department stores
Sales and number of stores are declining in the US
Macys, nordstrom, jcpenney, sears
Distribution policy Delivers value to the customer
Never handle products
Drop-shippers Middle man
No transportation
Direct response method
Feedback
Email can be low cost feedback method
, Busi 406 Final exam review
For new packaged consumer products, 40%
including brand and product line
extensions, what percent of new products
fail
For new packages consumer products, over 80%
what percent fail
A business where owners sells the rights to their proprietary knowledge,
franchise processes, and trademarks to a third party retail outlet owned and run by
independent operators
General merchandise wholesalers (mill Carry wide variety of items
supply house)
Has costs, but less than the value added to the product
how are the costs for transportation
Different methods cost differently
Promotional objectives
Funds available
how do advertisers convey the message Nature of the media
- Print (Words to explain things in detail)
- Video (Emotional or visual)
how do different types of retailers price
compete
, Busi 406 Final exam review
Source credibility (Celebrities delivering the message)
how does Promotion frequency dance on
Exaggerated claims
ethical boundaries
Invading consumer privacy
- Advertisers and ad agencies share equal responsibility for false, misleading
how does the FTC control unfair practices unfair ads,
- Governments may require corrective advertising
Often on the job with manager acting as coach
how does training sales people work
It is never enough
May not follow the classic pattern
how do individual brands act in the
May be introduced in market growth or maturity
product life cycle
Not all brands are equally strong
Physical and online stores
number/location of stores
how is place related to retail Shopping atmosphere
Store size/layout/design
Store hours
Credit cards/types of payment
Pricing and discount policies
how is price related to retail
frequency/level of sale prices
Charges for delivery/service
