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34 Cards in this Set

  • Front
  • Back
what are the 7 steps in the sales process?
1. preapproach
2. approach
3. demonstration
4. overcome objection
5. close sale
6. suggestive selling
7. follow-up
what are 4 disadvantages of personal selling?
1. time required
2. less control
3. cost per customer
4. money to train skilled salespeople
what are the 4 Ps of marketing?
1. product
2. promotion
3. place
4. price
what is marketing?
the process of developing, promoting, distributing goods, services to satisfy customer needs and wants
potential customers with shared needs who have the desire and ability to buy a product/service
target marketing
marketing to a very specific group
describes the group being marketed to
examples of demographic characteristics
gender, age, income, lifestyle, religion, personality
what are 2 ways entertainment is used in marketing?
1. products marketed
2. used to draw attention to other products
what's entertainment?
whatever people are willing to spend their money on and spare time (in viewing) rather than participate in
what's the difference between goods and services?
goods are products you can hold and touch, like objects, and services you can't hold and touch
what is a focus group?
a group of people who give their opinions on a product to help market it.
what was the name of the demographic group in the 60 minutes video?
echo boomers
how did scion promote the cars to its traget market?
they had a basketball game and breakdancing
what is the difference between target marketing and mass marketing?
target marketing it marketing to a specific group and mass marketing is marketing to everyone in general and not a specific group
provide an example of a service
an accountant filling your taxes
what are helicopter parents?
parents who are very overprotective of their kids
deinfition of market
ability to buy a product
what is the main purpose of all marketing activity?
to make money through increased awareness and increased sales
what is advertising?
PAID communication of information, created to sersuade the consumer about products, services offered
intended to reach a target market
the goal of advertising
to get you to buy the product/service
types of advertising
1. informative
2. emotional (aw and yuk factor)
3. both
what are other effective forms of advertising?
1. humor
2. scare tactics (financial, home security)
how do companies research consumers?
surveys, interviews, and focus groups
why do companies research consumers?
to see:
what they like or dislike
how they spend their money
what motivates them
what ads will have the most impact
info is used in creating ads
what does the NCAA stand for?
national collegiate athletic association
what is the ncaa?
governing body of college sports
market segment of college athletics
-graphic segmentation
--demographic segmentation
-product usage
-benefits derived
school gets % of the sales
5 advantages of personal selling
1. more information
2. flexible
3. use feedback
4. persuade
5. follow-up
disadvantages of personal selling (4)
1. cost per customer
2. time required
3. less control
4. skilled personnel
when were echo boomers born?
80's and early 90's
what are echo boomers activities like?
List 4 of the 7 functions of marketing
1. financing
2. pricing
3. distribution
4. promotion