Exam 4 Study Guide Define brand distinguishing name or symbol that identifies the products or services offered by a seller and differentiates those products and services from competitors What must retailers understand when using the marginal analysis method for setting the communication budget firms should increase communication expenditures as long as each additional dollar generates more than a dollar on top of that What does the affordable budget method take into account sets communication budget by determining what money is available after operating costs and profits are budgeted assumes communication expenses don t stimulate sales and profits Mobile marketing is a method that is online interactive through wireless handheld devices What is the most expensive form of communication personal selling Give an example of co op advertising Best Buy advertising with Sony TVs and splitting costs Define autocratic leadership a manager who makes all decisions on his or her own and then announces them to employees Know the difference between and intrinsic reward and an extrinsic reward extrinsic provided by either the employee s manager or the firm such as compensation promotion and recognition intrinsic what employees gain personally form doing their job well What is a loop layout racetrack shape with major aisle that has access to departments provides different views and encourages exploration to cause impulse buying What are the benefits of digital signage attracts attention enhances environment target demographics eliminates printing other signage costs How do most retailers determine the productivity of store space sales per square foot sales per linear foot What is a planogram a diagram that shows how and where specific SKUs should be placed on retail shelves or displays to increase customer purchases Define service gap knowledge gap knowing what the customer wants delivery gap meeting exceeding service goals communications gap communication the service promise standards gap setting service goals Give an example of brand association Office Depot is associated with office supplies so you automatically think office depot Know appropriate and inappropriate questions in job interviews Chapter 16 powerpoint lists a bunch What does a transformational leader do get people to transcend their personal needs for the sake of the group and generate excitement What is a feature area areas within a store designed to get the customers attention Know which type of fixtures different retailers may use ex rounder Four way straight rack holds a lot hard to feature rounder holds a maximum easy to move can t see merchandise four way large amount of merchandise allows customer to view entire garment hard to maintain fashion oriented Gondolas versatile grocery store like selection Describe free form layout fixtures aisles arranged asymmetrically provides intimate relaxing environment small store experience specialty and upscale department stores 15 affordable budgeting method sets communication budget by determining what money is available after operating costs and profits are budgeted Brand distinguishing name symbol or logo Brand associations anything linked or connected with the brand name Brand awareness memorable name repeated exposure symbols event sponsorship Brand image promises quality reduces time effort searching for information Break even analysis determines how much merchandise needs to be sold to achieve a break even zero profit Cooperative advertising promotional program undertaken by a vendor and a retailer working together Integrated marketing communication program program that integrates all of the communication elements to deliver a comprehensive consistent message Marginal analysis firms should increase communication expenditures as long as each additional dollar spent generates more than a dollar of additional contribution Methods of Communication direct marketing direct mail email mobile marketing web sites blogs social media sales promotions rebates coupons premium sample point of purchase display special event pop up store personal selling advertising news co op PR Mobile marketing marketing through wireless handheld devices and m commerce involves completing a transaction via phone Objective and task method a method for setting a promotion budget in which the retailer first establishes a set of communication objectives and then determines the necessary tasks and their costs Percentage of sales method communication budget is set as a fixed percentage of forecasted sales Pop up store generate customer interest open new markets segments high costs may take sales away from other company stores Premiums build goodwill increases value perception consumer s buy for premium Public relations managing communications and relationships to achieve various objectives maintain positive image of retailer Social media media content distributed through social interactions Special event generates excitement and traffic can be costly distract customers from purchasing during the event Top of mind awareness highest level of awareness first come to mind 16 autocratic leader a manager who makes all decisions on his or her own and then announces them to employees Equal Employment Opportunity Commission a federal commission that was established for the purpose of taking legal action against employers that violate Title VII of the Civil Rights Act which prohibits discrimination in company personnel practices Extrinsic reward rewards provided by manager Incentive compensation plan straight commission to motivate employees Intrinsic reward rewards the employee personally gains Job analysis identifies essential activities and is used to determine the qualifications of potential employees Job description includes activities the employee needs to perform and the performance expectations expressed in quantitative terms guideline for recruiting training selecting evaluating On the job training employees are assigned a job given responsibilities and coached by supervisors Sexual harassment unwelcomed sexual advances requests for sexual favors and other verbal and physical contact Structured training program new employees acquire the basic skills and knowledge they d need to do their job Transformational leader get people to transcend their personal needs for the sake of the group and generate excitement 17 Americans with Disabilities Act protects people with disabilities from discrimination in employment