5PsThe traditional 4Ps of marketing: product, price, promotion, and place (distribution), now with packaging added as a key marketing component.advertisingAny paid form of nonpersonal presentation by an identified sponsor.advertising mediaThe channels through which advertising is carried to prospective customers; includes newspapers, magazines, radio, television, outdoor advertising, direct mail, social media, and the internet.agentsSales representatives of manufacturers and wholesalers.audience selectivityAn advertising medium’s ability to reach a precisely defined market.breaking bulkThe process of breaking large shipments of similar products into smaller, more usable lots.brokersGo-betweens that bring buyers and sellers together.cost per thousand (CPM) Cost per thousand contacts is a term used in expressing advertising costs; refers to the cost of reaching 1,000 members of the target market.distribution (logistics)Efficiently managing the acquisition of raw materials by the factory and the movement of products from the producer to industrial users and consumers.distribution channelThe series of marketing entities through which goods and services pass on their way from producers to end users.e-commerceE-commerce refers to the development and maintenance of a company’s website and the facilitation of commerce on the website, such as the ability for customers to order products online and other activities.frequencyThe number of times an individual is exposed to an advertising message.industrial distributorsIndependent wholesalers that buy related product lines from many manufacturers and sell them to industrial users.integrated marketing communications (IMC)The careful coordination of all promotional activities—media advertising, sales promotion, personal selling, and public relations, as well as direct marketing, packaging, and other forms of promotion—to produce a consistent, unified message that is customer focused.manufacturerA producer; an organization that converts raw materials to finished products.manufacturers’ representativesSalespeople who represent noncompeting manufacturers; function as independent agents rather than as salaried employees of the manufacturers.marketing intermediariesOrganizations that assist in moving goods and services from producers to end users.merchant wholesalerAn institution that buys goods from manufacturers (takes ownership) and resells them to businesses, government agencies, other wholesalers, or retailers.personal sellingA face-to-face sales presentation to a prospective customer.promotionThe attempt by marketers to inform, persuade, or remind consumers and industrial users to engage in the exchange process.promotional mixThe combination of advertising, personal selling, sales promotion, and public relations used to promote a product.prospectingThe process of looking for sales prospects.public relationsAny communication or activity designed to win goodwill or prestige for a company or person.publicity Information about a company or product that appears in the news media and is not directly paid for by the company.qualifying questionsInquiries used by salespeople to separate prospects from those who do not have the potential to buy.reachThe number of different target consumers who are exposed to a commercial at least once during a specific period, usually four weeks.retailersFirms that sell goods to consumers and to industrial users for their own consumption.sales promotionMarketing events or sales efforts—not including advertising, personal selling, and public relations—that stimulate buying.sales prospectsThe companies and people who are most likely to buy a seller’s offerings.social mediaA relatively new marketing channel that includes platforms such as Facebook, Twitter, LinkedIn, Pinterest, and Instagram.wholesalersFirms that sell finished goods to retailers, manufacturers, and institutions. Show
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© Jun 14, 2022 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University. What is a strategy that focuses on forging long term partnerships with customers?Relationship marketing is a strategy that focuses on forging long-term partnerships with customers. Companies build relationships with customers by offering value and providing customer satisfaction.
What are retailers and wholesalers called in the distribution channel?These intermediaries, such as middlemen (wholesalers, retailers, agents, and brokers), distributors, or financial intermediaries, typically enter into longer-term commitments with the producer and make up what is known as the marketing channel, or the channel of distribution.
What is the belief that the firm should dedicate all of its planning policies operations and efforts to the satisfaction of the customer?Terms in this set (5) The marketing concept is the belief that a firm should dedicate all its policies, planning, and operations to the satisfaction of the customer.
What is nature distribution channel?A distribution channel represents a chain of businesses or intermediaries through which the final buyer purchases a good or service. Distribution channels include wholesalers, retailers, distributors, and the Internet. In a direct distribution channel, the manufacturer sells directly to the consumer.
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Is a series of marketing entities through which goods and services pass on their way from producers?
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