Brands
Define Brand insistence
Brand insistence is when consumers allow no alternatives or substitutes for a specific brand.
define brand rejection
TRIPLE POINTS
Brand rejection is when consumers know the brand but refuse to purchase or use it.
define B2B marketing
marketing is the marketing of products or services, by one business to another business
define distribution channel
Also known as a channel of distribution (or marketing channel), this refers to the chain of people or companies that a product goes through from the manufacturer to the consumer.
define wholesaling
Wholesaling is part of the distribution chain. Usually, wholesalers will not sell directly to consumers. Instead, they buy bulk goods from the manufacturer and then break them into smaller lots for sale to retailers. Wholesalers are often assisted in these transactions by brokers and agents.
what are the 3 main objectives of packaging
protection
promotion
information
define star
Stars, as used in a growth–share matrix, are units that have a high market share in a fast growing industry. They require a lot of cash flow, but also generate significant revenue. It’s always hoped that stars will later turn into cash cows.
define cash cow
"Cash cows" represents the unit or units that hold a high share of market in a slow–growing industry. The cash that they generate is more than what is needed to maintain the business.
compare contract channel length and width
Channel length refers to the number of levels involved in a distribution channel. Channel width is the number of entities that are involved in one particular level of distribution.
compare brokers and agents
QUAD POINTS
A broker usually concentrates on one type of product, and brings a buyer and seller together. They don’t carry inventory themselves and take no personal risk in the transaction.
Agents are usually long term employees of one (or more) companies and differs from a broker in that they have the authority to conduct business in that company’s name.
what is brand equity
Brand equity refers to the ‘value’ of a brand in terms of cash.
define question mark
Question Marks – In a BCG–matrix, question marks are also referred to as problem children. These units grow fast and use a great amount of cash; however they only own a low market share so they do not generate much revenue. They may turn into stars and later cash cows, but then again might turn into dogs.
what are the 3 categories of purchases
New task buying, Straight rebuy, Modified rebuy
compare horizontal and vertical integration
Horizontal channel integration occurs when a company owns distribution units horizontally in a distribution channel.Vertical channel integration refers to a company who owns two or more of the distribution channels.
what is NPD
new product development
define growth share matrix
The growth-share matrix or Boston Matrix is how companies decide where to allocate their resources. This is also used as a tool to analyze product management, strategic management, brand marketing and portfolio analysis.
define gross income, disposable income and discretionary income
Gross income refers to the total amount before taxes
Disposable income is the money that is left after a person pays for taxes
Discretionary income is the gross income, minus taxes AND any other necessary cost of living
define dogs
Dogs represent the units that hold a low market share in a mature, yet slow-growing industry. These units usually are "breakeven" or they produce barely enough profit to maintain their market share.
define channel control
DOUBLE POINTS
Channel control is the ability to influence the action of another member of the channel.
FREE POINTS
CONGRATS
what are the 7 P's
Price, Product, Promotion, Place, Physical Evidence, Process, People
what is DMU
A Decision Making Unit or DMU is a group of people in an organization, company, or even a family who is given the task of finalizing the decisions involving purchases.
name 5 industrial goods
Raw Materials, Component Materials, Process Materials, Major Equipment, Accessory Equipment, Consumable Supplies
Compare and contrast marketing object vs marketing plan
A company’s marketing objective refers to what the company is aiming to accomplish for over a certain period. A marketing plan explains what the goals are for your company when it comes to marketing.
what does SWOT stand for
strength weakness opportunity threats