Lectures 22 & 23
Lectures 22 & 23 301
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This 3 page Class Notes was uploaded by Alex on Saturday April 30, 2016. The Class Notes belongs to 301 at University at Buffalo taught by Dr. Dick in Spring 2016. Since its upload, it has received 41 views. For similar materials see Marketing in Business, management at University at Buffalo.
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Date Created: 04/30/16
Lectures 22 (Channel Strategy Cont.) & 23 Channel Strategy: o Types of Channel Members (Intermediaries): Wholesalers: Merchant Wholesaler – completely independent of the manufacturer o Distributor – does everything job related o Jobber – carries inventory Agent – independent distributer who represents multiple manufacturers o Don’t handle inventory Manufacturer’s Sales o Branch – similar to the distributor role, but the manufacturer owns it o Sales Office – plays similar role to agent, place to take order Retailers: Specialty Store – narrow selection, but deep Department Store – more selection, less depth, good service Power Retailer – Will come with notes from the video lecture Discounter – lots of categories, little depth Non-Store – catalogs/on-line stores/vending machines o Types of Channels: Contractual – Franchising (Franchisee, franchisor, licensing agreement) Administered – “handshake deal” Vertically Integrated – all channel owners owned by same entity o Channel Captain – when one entity needs another more than that other entity needs it (tradeoff) o Why use the “middle man” (intermediaries)? – transaction efficiency; ensures the deal runs smoothly Advertising & Sales Promotion: o The Advertising Industry: cyclic almost; media, producers (clients), and ad agencies (creative ideas, strategy suggestions (select media ads run in), tries to bring buyers and sellers together (intermediary)) o Advertisement Objectives: Inform customers Persuade customer that the brand is best Sell product ASAP, in as large amounts as possible Reinforce the customers opinion/change it for the better by stating the idea and strengths of the products Remind customers what the product is good for, what situations o How it works: (4 Theories): Hierarchy of Effects: high-involvement products Cognition (A) – create awareness & knowledge if the product and its use Affect (B) – “liking preference;” what the product is about and why it’s important to you Conation (C) – going to purchase the product o Low involvement products: ACB Low Involvement – needs greater message quantity. Needing greater quality is higher involvement Pressure Response: the more Ads, the more downward pressure on the customer – more times ads are seen, more likely to buy Elaboration Likelihood Model – 2 routes of persuasion High quality persuasive arguments; ad. Conveys information to the customer (what’s important), which influences the brand perceptions/beliefs, which leads to brand attitude (how you feel about the ad.), which leads to behavior (whether purchase or not) Attitude forms towards ad., which influences attitude towards brand directly o Media Strategy – effectively delivering the advertisement to the customer (quantity v. quality) o Net Reach – “ total number of consumers in target market exposed to an ad. Campaign at least once in a given time period” o Gross Rating Points (GRP) = Reach X Frequency Citation: Dick, Alan, and Richard Lutz. "Channel Strategy." University at Buffalo. Buffalo. 2016. 29 Apr. 2016. <https://ublearns.buffalo.edu/webapps/blackboard/content/listContent.jsp? course_id=_138266_1&content_id=_3613986_1>. Citation: Dick, Alan, and Richard Lutz. "Advertising and Sales Promotion." University at Buffalo. Buffalo. 2016. 29 Apr. 2016. <https://ublearns.buffalo.edu/webapps/blackboard/content/listContent.jsp? course_id=_138266_1&content_id=_3613995_1>.
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