Supply Chain Management and Marketing Channels
−a management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value
Supply Chain Management
•all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use
Retailing
Name one of the 4 tasks, that sometimes occur simultaneously, when promoting
Inform, Persuade, Remind, Connect
a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns
Advertising Response Function
A plan for the optimal use of promotional elements such as advertising, public relations, personal selling, sales promotion, and social media is known as
Promotional Strategy
Name one of the traits of an agile company
−Synchronize their activities by sharing supply-and-demand market information
−Focus on activities that create direct customer benefits
−Partner closely with suppliers and service providers to reduce customer wait times for products
−Reduce supply chain complexity through the evaluation and reduction (or elimination) of items customers aren’t buying
the reduction of sales for one brand as the result of the introduction of a new product or promotion of a current product by another brand.
Brand Cannibalization
−the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, and social media—used to reach the target market and fulfill the organization’s overall goals
Promotional Mix
•a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign
Unique Selling Proposition
•the way connected consumers exchange goods and services with each other through a digital marketplace
Sharing Economy
•data analyses that support the improved design and management of the supply chain
Supply Chain Anaytics
•the reduction of multiple retail channel systems into a single, unified system for the purpose of creating efficiencies or saving costs
Retail Omnification
−the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every point at which a company has contact with the consumer
Integrated Marketing Communications
•a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals
Advertising Campaign
−understanding how one’s target consumers behave as shoppers, in different channels and formats, and leveraging this intelligence to generate sales or other positive outcomes
Shopper Marketing
Companies can increase their delivery performance and pass along savings to customers. To accomplish this, many different functional teams will come together to discuss ways to increase delivery performance during meetings. This is an example of what type of planning?
Sales and Operations Planning
Fastest growing part of the economy
service sector
1.The advertiser must first gain the attention of the target market because a firm cannot sell something if the market does not know the good or service exists.
Attention-AIDA Model
•placing advertising messages in web-based, mobile, console, or handheld video games to advertise or promote a product, service, organization, or issue
Advergaming
a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action
AIDA Model
•the ability to conduct commerce using a mobile device for the purpose of buying or selling goods or services
M-commerce
focus on increasing total sales, reducing costs of goods sold, and improving financial ratios
Strategic Retailing Goals
convincing target customers that the goods and services offered are superior to the competition is the main goal of what?
Marketer's promotional strategy
According to research, this type of advertising is most effective when used to shape attitudes when consumers already have a positive image of an advertised brand.
Humorous advertising
T or F
Advertising campaigns have no defined period of time
FALSE
Advertising campaigns should have a defined period they are run