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Marketing Ch. 16

Terms

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Advertising
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an indentified sponsor.
Advertising objective
A specific communication task to be accomplished with a specific target audience during a specific period of time.
Informative Advertising
telling the market about the new product, suggesting new uses for the product, information the market of a price change, explaining how the product works, describing available services, correcting false impressions, reducing consumer's fears, building a company image
Advertising Agency
A marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs.
Sales promotion
Short term incentives to encourage the purchase or sale of a product or service.
Sample
A small amount of a product offered to consumers for trial.
Coupon
Certificate that gives buyers a saving when they purchase a specified product.
Cash refund offer (rebate)
Offer to refund part of the purchase price of a product to consumers who send a "proof of purchase" to the manufacturer.
Price pack (cents off deal)
Reduced price that is marked by the producer directly on the label or package.
Advertising specialty
Useful article imprinted with an advertiser's name, given as a gift to consumers.
Patronage reward
Cash or other award for the regular use of a certain company's products of services.
Point-of-purchase (POP)
Display and demonstration that takes place at the point of purchase or sale.
Contests, sweepstakes, games
Promotional events that give consumers the chance to win something--such as cash, trips, or goods--by luck or through extra effort.
Discount
A straight reduction in price on purchases during a stated period of time.
Allowance
Promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer's products in some way.
Public relations
Building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Salesperson
An individual acting for a company by performing one or more of the following activities: prospecting, communicating, servicing, and information gathering.
Sales force management
The analysis, planning, implementation, and control of sales force activities. It includes setting and designing sale force strategy and recruiting, selecting, training, supervising, compensating, and evaluating the firm's salespeople.
Territorial sales force structure
A sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line.
Product sales force structure
A sales force organization under which salesperopl specialize in selling only a portion of the company's products or lines.
Customer sales force structure
A sales force organization under which salespeople specialize in selling only to certain customers or industries.
Outside sales force (or field sales force)
Outside salespeople who travel to call on customers.
Inside sales force
Inside salespeople who conduct business from their offices via telephone or visits from prospective buyers.
Team selling
Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts.
Sales quota
A standard that states the amount a salesperson should sell and how sales should be divided among the company's products.
Selling process
The steps that the salesperson follows when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up.
Prospecting
The step in the selling process in which the salesperson identifies qualified potential customers.
Preapproach
The step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call.
Approach
The step in the selling process in which the salesperson meets the customer for the first time.
Presentation
The step in the selling process in which the salesperson tells the "product story" to the buyer, highlighting customer benefits.
Closing
The step in the selling process in which the salesperson asks the customer for an order.
Follow-up
The last step in the selling process, in which the salesperson follows up after the sale to ensure customer satisfaction and repeat business.
Direct marketing
Direct communications with carefully targetd individual consumers to obtain an immediate response.

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