Chapter 12d
What are pull promotion strategies?
try to pull people into a business
What are pricing decision?
1. pricing objectives
2. factors
3. pricing strategy
4. pricing tactics
5. price elasticity
What is price elasticity?
relationship between market price vs. product demand
What is supply chain management?
1. suppliers
2. producers
3. wholesalers
4. retailers
5. customers
What are manufacturing systems?
customers aren't present so they focus on efficiency
What are push promotional strategy?
try to push people into a business
What is the pricing objectives?
what goes into product? how much? profit?
price changes a lot
What are marketing channels?
all the entities necessary to move a product from the producer to the end user
- physical movement
- transfer of ownership
What are the operations management goals?
1. provide customers w/ what they want
2. ensure products/services are available when customers want them & they demand
3. ensure products/services are available
4. meet customers' quality standards
5. appropriately design facilities for the operations of the business
What is integrated marketing communications (IMC)?
emailing to try to get someone to buy from you
What are factors?
cost structure, demand, comp, marketplace dynamics, objectives
What is inelastic (price)?
price of product is stable
can apply to managing the transformation process in services or manufacturing
What are offshoring advantages?
1. access to markets
2. lower labor and facility costs
3. availability and cost of materials
4. access to skills
What is promotional planning?
the strategy on how to get someone to buy a product
What is pricing strategy?
low cost or valuable?
What is indirect channel structure?
1. producers
2. wholesalers
3. retailers
4. customers
What is production management?
can apply to managing the transformation process in manufacturing
What are offshoring disadvantages?
1. loss of jobs in home countries
2. less control over operations
3. greater customer dissatisfaction
What is a promotional mix?
1. advertising
2. personal selling
3. sales promotion
4. public relations
What are pricing tactics?
how to make something seem valuable
What is direct channel structure?
1. producers
2. retailers
3. customers
What are service systems?
consider the presence of customers
What is managing quality?
1. statistical process control
2. total quality management
3. customer focus
4. total participation
5. continuous improvement