Marketing Basics & Environment (Ch. 11)
What do firms use to create, communicate, and deliver value to customers?
Marketing.
What four components make up the marketing mix?
Product, price, promotion, place.
The combination of channels used to get a product to end users is called what?
Distribution mix .
Intermediaries that buy goods from manufacturers and sell to other businesses are called what?
Merchant wholesalers
Activities needed to move products efficiently from manufacturer to consumer.
Physical distribution
Which type of competition occurs between similar products based on buyer perceptions?
Brand competition.
Which segmentation variable includes lifestyle, opinions, and attitudes?
Psychographics.
A distribution channel that moves a product from producer to consumer with no intermediaries is called?
Direct channel
These intermediaries do not carry inventory but negotiate and arrange shipments.
Drop shippers
Dividing markets by where people live—region, city size, climate—is what segmentation type?
Geographic segmentation
What term describes the emotional satisfaction gained from owning a product?
Benefits.
What do marketers call dividing a market into customer types with similar needs and wants?
Market segmentation.
Which type of distribution strategy aims to place a product in as many outlets as possible?
Intensive distribution
Small retail stores that carry full product lines in a narrow field.
Specialty stores
The fastest and most expensive mode of transportation for goods.
Air transportation
What type of utility is created by transferring product ownership through pricing and credit terms?
Possession utility.
What research method compares how similar people respond under different circumstances?
Experimentation.
What occurs when channel members disagree about roles or rewards?
Channel conflict
Retailers that contact customers through catalogs, telemarketing, or home-selling parties.
Direct-response retailing
What utility is created when marketers provide products at times consumers want them?
Time utility
What five external forces make up the marketing environment?
Political-legal, sociocultural, technological, economic, and competitive.
What type of data is collected from newly performed research, not existing sources?
Primary data.
A powerful channel member who determines roles and rewards of the system is called what?
Channel captain
A collection of virtual storefronts where shoppers compare products in one place online.
Cybermall
When one website earns a commission for sending customers to another website, what is this called?
Syndicated selling