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43 Cards in this Set

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  • Back
Marketers coordinate all promotional activites - advertising, sales promotion, personal sales presentations, and public relations to execute a unifeid, customer focused promotional strategy
Integrated Marketing Communications
Communication link bewteen buyer and seller that performs the function of informing, persuading, and influencing a purchase decision
Combination of personal and nonpersonal selling techniques designed to achieve promotional objectives
Promotional mix
Interpersonal promotional process invoving a sellers face to face presentation to a prospective buyer
Personal Selling
Consists of advertising, sales promotion, direct marketing, and public relations, advertising is the best form of this
Nonpersonal selling
Marketers attempt to establish their won places in the minds of customers, idea is to communicate to prospective purchasers meaningful distinctions about the attributes, rpice, quality, or use of a good or service
A growing number of marketers pay placement fees to have thier products showcased in movies and TV shows
Product Placement
Innovative, low cost marketing efforts designed to get cosnumers attention in unusual ways, represents and increasingly popular promotional tactic that marketers, especially those with limited promotional budgets
Guerilla marketing
Paid nonpersonal communication delivered through various media and designed to inform, persuade, or remind members of a particular audience
Consists of messages designed to sell a particular good or service
Product advertising
Invovles messages that promote cocnepts, ideas, philosophies, or goodwill for industries, companies, organizations, or government entities.
Institutional advertising
Promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process about such issues as the homeless, drug abuse, hunger, smoking, etc.
Advocacy Advertising
Involes providing funds for sporting a cultural event in exchange for a direct association with the event
Form of broadcast direct marketing, also called direct response television
Nonpersoanl marketing activities other than advertising, personal, selling, and public relations that stimulate consumer purchasing and dealer effectiveness
Sales Promotion
Sometimes called specialty advertising or advertising specialties involves the gift of useful merchandise carrying the name, logo, or slogan of a profit seeking bsuiness or a non for profit organization
Promotional Products
Sales promotion geared to marketing intemtearies rather than to consumers, marketers use trade promotion to encourage retailers to stock new products, continue carrying existing ones, and promoteboth new and existing products effectively to consumers
Trade Promotion
Consists of displays or demonstrations that promote products when and where consumers buy them, such as in retail stores
Point-of-purchase (POP) advertising
Is most often related to retail and wholesale firms, the salesperson identifies customer needs, points out merchandise to meet them, and processes the order
Order processesing
A persuasive type of promotional presentation, promotes a good or serice whose benefits are not readily apparent or whose purchase decision requires a close analysis of alternatives
Craetive Selling
An indirect form of selling in which the reps promotes goodwill for a company or provides technical or operation assistance to the customer
Missionary Selling
Personal selling conducted entirely by telephone, provides a firm with a high return on thier expedentures, an immediate respionse, and an opportunity for a two way conversation.
Salesperson builds a mutually benefical relationship with a customer through regular contacts over an extended period
Relationship selling
Means meeting cusotmers needs by listening to them, understanding, and caring about their problems, paying attention to details, suggesting alutions, and following through after the sale
Consultative Selling
Joins salesperople with specialist from other functional areas of the firm to coplete the selling process. Complements relationship and consultative selling
Team Selling
Incorporates a broad range of tools, from email, telecommunications devices such as pagers and cell phones, and ntoebook computers to increasingly sophisticated software systems that autom,ate the sales process
Sales Force Automation (SFA)
Refers to an orhanizations nonpaid communications with its various public audiences, such as customers, vendors, news media, employees, stock holders, the government, and the general public
Public relations
Stimulation of demand for a good, service, place, idea, person, or organization by disseminating news or obtaining favorable unpaid media presentations
Relies on personal selling to market a product to wholesalers and retailers in a companys distribtuion channels, marketers promote the product to memebers of the marketing channel not to endusers
Pushing strategy
Marketers share the cost of local advertising of thier firms product or line with channel partners
Cooperative advertising allowances
Attempts to promote a product by generating consumer demand for it, primarily through advertising and sales promotion appeals
Pulling strategy
Exaggerated claims of a products superiority or useof doubtful, subjective, or vague statements, is legal because it doesn't imply a guarentee, but raises ethical questions
Exchange value of a good or service
Pergaps the most common objectives included in teh strategic plans of most firms, marketers know that profits are the revenue the company brings in, minis its expenses
Profitability objectives
Bases pricing decisions on market share - the percentage of a market controlled by a certain compamny or product
Volume Objectives
Establishes a relatively high price to develop and maintain an image of quality and esclusiveness, marketers set such objectives because they recognize the role of price in communicating an overall image for the firm and its products
Pretige Pricing
Practice of adding a percentage of speicif amounts (markup) to the base costs of a product to cover overhead costs and generate profits
Cost based pricing
Pricing technique used to determine the minimum sales volume a prodct must generate at a certain price level to cover all costs.
Breakeven Analysis
A strategy that sets an intentiionally high price relative to the prices of competing products, comes form the expression "skimming the cream", often works for the introlduction of a distinctive good or service with little or no competition, although can be used at other stages in the product life cycle
Skimming Pricing
A strategy that sets a low price as a major marketing weapon, once the new product achieves some market recognition through consumer trail purchases stimulated by its low price, marketers may increae the price to the level of competing products
Penetration Pricing
Strategy devoted to maintaing continuous low prices rather than relying on short term price cutting tactics such as cents off coupons, rabates, and special sales
Everyday Low pricing (EDLP)
Startegy in which companies try to reduce the emphasis on proce competition by matching other firms prices and ocncentrating thier own marketing mix efforts on the product, distribtuion, and promotional elements of the marketing mix
Competitive Pricing
Commonly used because many retailers believe that cosnumers favor uneven amounts or amount that sound less than they really are (like .99 instead of 1.00)
Odd pricing