Number of flashcards in this category: 63.
1.	trend extension		extending the trends of the past
2.	psychographics		"lifestyle analysis"
3.	joint venturing		domestic firm partners with foreign firm
4.	wholly owned subsidiary		a separate firm owned by a parent company
5.	economies of scale		as you produce more a product, the cost to make each one goes down
6.	reciprocity		If you buy from me, I'll buy from you.
7.	traditional channel system		channel members don't work together; competition and variety of goals
8.	mktg department era		all mktg activities under one department to improve short-run policy planning and integrate firm activities
9.	customer value		the difference between the benefits a customer sees, and the costs of obtaining those benefits (how much the customer values an offering?)
10.	factor method		A way to forecast sales by basing it on factors. (ex: car sales will drop because the FACTOR of recession means less money)
11.	market potential		what a WHOLE market segment might buy
12.	private/public warehouses		private: leased by companies, expensive, for regular use public: temporary, no regular need for space, (ex: seasonal businesses)
13.	market development		increase sales by selling present products in new markets
14.	desirable: ideal market exposure		makes product just available widely enough for target customers, but no more
15.	generic versus product market		generic: "entertainment seeking" very general, might choose various products to satisfy this need product: TVs, cruise lines
16.	customer satisfaction		extend to which a company fulfills a consumer's needs and desires
17.	segmenter vs. combiner		Safer to be segmenter. Can't combine too much.
18.	multiple buying influence		multiple people have an influence on a purchase decision in a company
19.	horizontal arrangement legality		Horizontal arrangements among competing retailers to limit sales by customer territory is illegal.
20.	direct marketing		sell directly to individual customers - online - catalogs - web site orders - b2b
21.	mktg company era		whole company guided by marketing concept; creation of long range plans
22.	opinion leader		Forward thinking, knowledgable people who influence decisions on a product category. (word of mouth)
23.	macro-mktg		directs flow of goods and services that matches the objectives of society
24.	modified rebuy		review some of the rebuy order to optimize
25.	innovation		the development and spread of new ideas, goods and services
26.	discrepency of quantity		different between quantity that producer comfortably produces, and quantity that final users want (tires)
27.	customer service level		Distributors need to get products where they're needed when they're needed. Lost sales add up fast! Tradeoff between faster/more expensive delivery and more interested customers, or TOO expensive.
28.	freight forwarders		combine small shipments into more economical shipping quantities.
29.	multinational corporations		firms that have a direct investment in several countries
30.	management contracting		You provide only the management skills, others do the production and distribution.
31.	physical distribution/logistics		the transporting, storing, and handling of goods
32.	mktg strategy vs. mktg plan		plan has time-related details; strategy is over arching and describes a marketing mix (big picture of what firm will do in a market)
33.	JIT		"just in time"
34.	requisition		a request to buy something
35.	qualifying dimensions vs. determining dimensions		qualifying: needs to have money, need for a car, license (but these don't determine what kind of car gets bought) determining: safety, speed
36.	PD concept		physical distribution system says that whole channel system should be coordinated
37.	straight rebuy		routine repurchase
38.	regrouping (4)		1. accumulating - collecting products from many small producers (gathering coffee, bringing together Dutch art) 2. bulk breaking 3. sorting - separate products into grades, each of which goes for a different market. 4. assorting - gathering together a variety of products that one segment might want (trucks and trailors and fertilizer and seed)
39.	administered channel system		informally agree to work together. Can appoint a manager to oversee.
40.	contractual channel system		Agree to work together under contract.
41.	customer equity		expected earnings stream of a firm's current and prospective customers over a period of time
42.	breakthrough opportunities		opportunities that are hard for competitors to copy and "share on the wealth"
43.	single, multiple or combined target market approach		1. single: one target 2. multiple: several targets, treat separately. 3. combined: mix multiple into one broad mktg strategy
44.	containerization		grouping individual items into an economical shipping quantity and packaging
45.	mktg concept		an organization goal is to satisfy customers - at a profit
46.	reverse channels		ways to receive back products consumers don't want (recalls)
47.	sales forecast		an estimate of how much an industry or firm hopes to sell to a market segment (usually lower than what they forecast)
48.	extensive, limited, routinized problem solving		extensive: high purchase effort low: some effort, but not a lot routinized: habitual, no effort involved
49.	marketing		attempting to anticipate customer or client needs and direct the flow of goods from producer to customer to client
50.	total cost approach		identifying ALL costs of every alternative; ex: vegetable company; more costly airshipping but less spoilage
51.	intermediary		specializes in functions aside from production
52.	licensing		selling the right to use a process, trademark, patent or other right by another company
53.	financing		providing the necessary cash and credit to do complete the mktg process
54.	indirect marketing		goes through a set of intermediaries (dealers, distributors, agents)
55.	waterways, pipelines		cheapest, important for nonperishable heavy materials; limited by frozen (weather)
56.	corporate channel system		corporate ownership down the entire line (complete ownership)
57.	mktg program		Multiple marketing plans, into one whole program.
58.	piggyback service		Loading truck trailers onto railcars.
59.	new-task buying		purchase of a new need, requires more thinking and setting up routine
60.	contract manufacturing		Turn production to foreign companies while you maintain the distribution, product design, etc. (rest of mktg process)
61.	economic system		a way to distribute scarce resources
62.	multichannel distribution		use of several competing channels to reach end users (sell to retain chains, and also smaller individual stores)
63.	discrepency of assortment		producers normally specialize into one product (e.g. golf balls), whereas a customer wants a variety of golf items. Distributors need to adjust for this.