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67 Cards in this Set
- Front
- Back
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trying to get someone to buy something
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selling
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anything that connotes an economic exchange
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selling
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identifying and satisfying customer needs profitably
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selling
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someone that has already bought your product that you want to nurture so that they keep coming back
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customer
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someone that has not purchased your product that requires information about your product
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prospect
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more customer-focused; means creating conditions by which the buyer is convinced to make a purchase without outside persuasion
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marketing
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essentially convincing the customer why the product will benefit them and why they *want* to buy it
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marketing
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a big picture, long-term view of moving people toward making their own decision
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marketing
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day-to-day, shorter-term concept of moving goods and services
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selling
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_____ is strategy, while _____ is tactics
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marketing; selling
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founded the first advertising agency in 1841
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Volney B. Palmer
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described himself as a "newspaper agent"; the advantages of his services were savings of cost and time in trying to contact a variety of publishers
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Volney B. Palmer
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primary owner of Lord and Thomas in Chicago
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Albert Lasker
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the head of J. Walter Thompson, which remains one of the biggest ad agencies even today; when he was the head of it, it was the biggest ad agency in the world
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Stanley Resor
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formed Young & Rubicam, which is still around today; he claimed that more people read ads by Young & Rubicam than any other agency
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Raymond Rubicam
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established the Chicago school of advertising (the largest agency outside of New York); brought a lot of American advertising icons into the fray (Tony the Tiger, Jolly Green Giant, Pillsbury Doughnoy)
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Leo Burnett
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brought a lot of American advertising icons into the fray (Tony the Tiger, Jolly Green Giant, Pillsbury Doughnoy)
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Leo Burnett
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invented free sampling by coupon and developed copy research
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Claude Hopkins
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known as "the Picasso of Madison Avenue," his goal was to raise advertising into an art by making them more slick and improving how they looked
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Bill Bernbach
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a specific combination of visual and verbal elements that help to achieve recognition of a consumer product/brand and differentiation from other brands
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brand identity
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components of this are the name, logos, symbols, slogans, color, package configuration, and product configuration
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brand identity
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the father of radio; transmitted across the Atlantic in 1901
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Guglielmo Marconi
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installed a transmitter in his Philadelphia department store and broadcast a radio show
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John Wanamaker
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Who was the first advertiser on radio?
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the first advertiser on radio was a record retailer in Pennsylvania, who provided discs for Dr. Frank Conrad, a Westinghouse engineer who had been experimenting
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founder of RCA; used airwaves to sell what he called a "radio music box"
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David Sarnoff
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founder of CBS; son of a cigar maker that bought a controlling interest in the new network CBS and eventually turned a profit; thought television would not outperform radio
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William Paley
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head of Ted Bates & Company; doodled what came to be the first "real" television commercial; transformed advertising overnight from low-keyed salesmanship into high-powered persuasion
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Rosser Reeves
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credited for the first TV advertising for a presidential campaign
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Rosser Reeves
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Which political campaign was the first time a candidate used television?
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the 1952 Eisenhower campaign
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What are the five product life cycles?
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(1.) introduction, (2.) growth, (3.) maturity, (4.) saturation, and (5.) decline
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What stages in the product life cycle are radio, television, cable, newspapers, and new media/internet?
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radio: mature at the point of saturation, television: mature at the point of saturation, cable: growth, newspapers: decline, new media: introduction and growth
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What are the three types of "true" sales personalities?
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(1.) the persuasive, (2.) the problem solver, (3.) the persistent
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What are the two types of faux sales personalities?
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(4.) the passive charmer, (5.) the technician
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What are 3 things expected of new salespeople?
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(1.) develop/find new businesses, (2.) maximizing revenues, (3.) retaining current business
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What are the 4 stages of selling?
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(1.) the novice, (2.) the learner, (3.) the competent, (4.) the professional
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What are 6 things that motivate people to sell?
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(1.) money, (2.) security, (3.) achievement, (4.) recognition, (5.) acceptance by others, (6.) self-acceptance
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What are the seven steps of the sales process?
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(1.) prospecting, (2.) qualifying, (3.) needs analysis, (4.) presentation, (5.) answering objections, (6.) closing, (7.) relationship management
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means walking into a prospect’s place of business unannounced – cold – without an appointment in order to see if they would be interested in advertising in your chosen medium
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cold calling
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simply an expression of your prospect’s concern about advertising (such as saying “your rates are too high!” or “I only buy newspaper”) – on the surface something that seems to be a reason for the prospect to not buy what you are selling
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objection
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What is the different between objections and conditions?
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objections can be overcome; conditions cannot
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a valid reason for not buying (such as having spent the entire budget) and is a reason for the salesperson to walk away
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condition
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means walking into a prospect’s place of business unannounced – cold – without an appointment in order to see if they would be interested in advertising in your chosen medium
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cold calling
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simply an expression of your prospect’s concern about advertising (such as saying “your rates are too high!” or “I only buy newspaper”) – on the surface something that seems to be a reason for the prospect to not buy what you are selling
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objection
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What is the different between objections and conditions?
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objections can be overcome; conditions cannot
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a valid reason for not buying (such as having spent the entire budget) and is a reason for the salesperson to walk away
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condition
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relates to consumer retention; first postulated by the nineteenth-century economist Vilfredo Pareto, it suggests that 80% of your business comes from 20% of your customers
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the 80:20 rule
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information that gets deep into the means and motives of the consumer
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qualitative data
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goes into activities, interests, whether you are a heavy or light media user, social activity, purchase patterns, business, politics, and demographics of age/sex/income/occupation/education;
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qualitative data
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in selling electronic media, is qualitative or quantitative data more valuable?
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qualitative data
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a type of information that adds depth or quality to audience figures
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qualitative data
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the numbers side of research; measure quantity; sheer numbers
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quantitative data
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the estimated percentage of the population that is listening to or viewing an advertisement or a program
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rating
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the four networks signed letters of intent to support a new ratings service proposed by Statistical, Research Inc. called
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SMART
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the basic measure of television and radio audience measurement
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diaries
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What are the pros of diaries?
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ability to record large amounts of information at one time, thus reducing the cost of collection; also reflects individual viewing behavior and gathers demographic data
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What are the cons of diaries?
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reliance on people; a respondent may lie about viewing, fail to complete the entries, or fail to return the diary to Nielsen; also prone to inaccurate entries and illegible handwriting; also one person usually reports the viewing of others and there may be a different rate of accuracy in doing so (housewives inaccurate reporting the viewing of their husbands); participants may end up making reports up if they wait to fill them out at the end of the week
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What are some of the pros of people meters?
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ability to record exact times that the set was turned on and off and the exact channels to which it was tuned; also eliminate human reporting error and provide fast turnaround of results
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What are some of the cons of people meters?
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there is no way to tell if anyone is actually watching the metered set; there is no demographic information available
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when media makes an active effort to exclude people who do not fit a desired profile; signaling makes it abundantly clear that “this is not for everyone.”
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signaling
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"Beavis and Butt-head" and "The Howard Stern Show" are examples of
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signaling
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the capacity to aim media content and ads at a particular individuals; like signaling, except it simply excludes people outside the target audience in the first place
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tailoring
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allows people to listen to radio stations and watch programs that parade their self-images and clusters of concerns, allowing people to receive offers from marketers that complement their lifestyles; trying to get a narrow audience
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tailoring
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designed to monitor, audit, and accredit the ratings services, making sure that the ratings were “valid, reliable, effective, and viable”
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Broadcast Ratings Council (BRC)
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the SEES formula
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Situation, Exploration, Explicit, Summary
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the PAPA presentation
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Promise, Amplification, Proof, Action
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the SKOAPP system
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Skills, Knowledge, Opportunities, Attitude, Preparation, Persistence
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Four types of compensation plans
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(1.) salary only (2.) salary + bonus, (3.) straight commission, (4.) salary + commission
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