Final Exam

Front 1

Personal Selling

Back 1

Personal presentations by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships.

Front 2

Salesperson

Back 2

An individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building.

Front 3

Sales force managment

Back 3

Analyzing, planning, implementing, and controlling sales force activities.

Front 4

Territorial sales force strucure

Back 4

A sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line.

Front 5

Product sales force structures

Back 5

A sales force organization in which salespeople specialize in selling only a portion of the company's products or lines.

Front 6

Customer sales force structure

Back 6

A sales force organization in which salespeople specialize in selling only to certain customers or industries.

Front 7

Outside sales force

Back 7

Salespeople who travel to call on customers in the field.

Front 8

Inside sales force

Back 8

Salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers.

Front 9

Team selling

Back 9

Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts.

Front 10

Sales quota

Back 10

A standard that states the amount a salesperson should sell and how sales should be divided among the company's products.

Front 11

Social selling

Back 11

Using online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance.

Front 12

Selling process

Back 12

The steps that salespeople follow when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up.

Front 13

Prospecting

Back 13

The sales step in which a salesperson or company identifies qualified potential customers.

Front 14

Preapproach

Back 14

The sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call.

Front 15

Approach

Back 15

The sales step in which a salesperson meets the customer for the first time.

Front 16

Presentation

Back 16

The sales step in which a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems.

Front 17

Handling objections

Back 17

The sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying.

Front 18

Closing

Back 18

The sales step in which a salesperson asks the customer for an order

Front 19

Follow-up

Back 19

The sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business.

Front 20

Sales promotion

Back 20

Short-term incentive to encourage the purchase or sale of a product or a service.

Front 21

Consumer promotions

Back 21

Sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customer relationships.

Front 22

Even marketing

Back 22

Creating a brand-marketing event or serving as a sole or participating sponsor of events created by others

Front 23

Trade promotions

Back 23

Sales promotion tools used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising

Front 24

Business promotions

Back 24

Sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople.

Front 25

Direct and digital marketing

Back 25

Engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.

Front 26

Digital and social media marketing

Back 26

Using digital marketing tools such as web sites, social media, mobile apps and ads, online video, e-mail, and blogs tat engage consumers anywhere, anytime va their digital devices.

Front 27

Multichannel marketing

Back 27

Marketing both through stores and other traditional offline channels and through digital, online, social media, and mobile channels.

Front 28

Online marketing

Back 28

Marketing via the internet using company web sites, online ads and promotions, email, online video, and blogs.

Front 29

Marketing web site

Back 29

A web site that engages consumers to move them closer to a direct purchase or other marketing outcome.

Front 30

Branded community website

Back 30

A web site that presents brand content that engages consumers and creates customer community around a brand

Front 31

Online advertising

Back 31

Advertising that appears while consumers are browsing online, including display ads, search-related ads, online classifieds, and other forms

Front 32

Email marketing

Back 32

Sending highly targeted, highly personalized, relationship-building marketing messages via email

Front 33

viral marketing

Back 33

The digital version of word-of-mouth marketing; videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends

Front 34

Blogs

Back 34

Online journals where people and companies post their thought and other content, usually related to narrowly defined topics.

Front 35

social media

Back 35

Independent and commercial online communities where people congregate, socialize, and exchange views and information

Front 36

Mobile marketing

Back 36

marketing messages, promotions, and other content delivered to on-the-go consumers through mobile phones, smartphones, tablets, and other mobile devices.

Front 37

Direct-mail marketing

Back 37

Marketing that occurs by sending an offer, announcement, reminder, or other item directly to a person at a particular address.

Front 38

Catalog marketing

Back 38

Direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online.

Front 39

Telemarketing

Back 39

Using the telephone to sell directly to customers

Front 40

Direct response television marketing

Back 40

Direct marketing via television, including direct response television advertising (infomercials) and interactive television advertising.

Front 41

Competitive advantage

Back 41

An advantage over competitors gained by offering consumers greater value.

Front 42

Competitor analysis

Back 42

Identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid

Front 43

Competitive marketing strategies

Back 43

Strategies that strongly position the company against competitors and vice it the greatest possible competitive advantage.

Front 44

Strategic group

Back 44

A group of firms in an industry following the same or a similar strategy.

Front 45

Benchmarking

Back 45

Comparing the company's products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance.

Front 46

Customer value analysis

Back 46

An analysis conducted to determine what benefits the target customers value and how they rate the relative value of various competitors' offers.

Front 47

Market leader

Back 47

The firm in an industry with the largest market share

Front 48

Market challenger

Back 48

A runner-up firm that is fighting hard to increase its market share in an industry

Front 49

Market follower

Back 49

A runner-up firm that wants to hold its share in an industry without rocking the boat

Front 50

Market nicher

Back 50

A firm that serves small segments that the other firms in an industry overlook or ignore.

Front 51

Competitor-centered company

Back 51

A company whose moves are mainly based on competitors' actions and reactions

Front 52

Customer-centered company

Back 52

A company that focuses on customer developments in designing its marketing strategies and delivering superior value to its target customers.

Front 53

Market-centered company

Back 53

A company that pays balanced attention to both customers and competitors in designing its marketing strategies.

Front 54

Global firm

Back 54

A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

Front 55

Economic community

Back 55

a group of nations organized to work toward common goals in the regulation of international trade.

Front 56

Exporting

Back 56

Entering foreign markets by selling goods produced in the company's home country, often with little modification

Front 57

Joint venturing

Back 57

Entering foreign markets by joining with foreign companies to produce or market a product or service

Front 58

Licensing

Back 58

Entering foreign markets through developing an agreement with a licensee in the foreign market

Front 59

contract manufacturing

Back 59

a joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service.

Front 60

Joint ownership

Back 60

A cooperative venture in which a company creates a local business with investors in a foreign market, who share ownership and control

Front 61

direct investment

Back 61

Entering a foreign market by developing foreign-based assembly or manufacturing facilities

Front 62

Standardized global marketing

Back 62

An international marketing strategy that basically uses the same marketing strategy and mix in all of the company's international markets.

Front 63

Adapted global marketing

Back 63

An international marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return.

Front 64

Straight product extension

Back 64

Marketing a product in a foreign market without making any changes to the product.

Front 65

Product adaptation

Back 65

Adapting a product to meet local conditions or wants in foreign markets

Front 66

Product invention

Back 66

creating new products or services for foreign markets.

Front 67

communication adaptation

Back 67

a global communication strategy of fully adapting advertising messages to local markets.

Front 68

whole-channel view

Back 68

Designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network.

Front 69

sustainable marketing

Back 69

Socially and environmentally responsible marketing that meets the present needs of consumer and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Front 70

consumerism

Back 70

An organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

Front 71

Environmentalism

Back 71

An organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment

Front 72

Environmental stability

Back 72

A management approach that involves developing strategies that both sustain the environment and produce profits for the company

Front 73

consumer-oriented marketing

Back 73

A company should view and organize its marketing activities from the consumer's point of view

Front 74

Customer value marketing

Back 74

A company should put most of its resources into customer value-building marketing investments.

Front 75

Innovative marketing

Back 75

A company should seek real product and marketing improvements

Front 76

Sense-of-mission marketing

Back 76

A company should define its mission in broad social terms rather than narrow product terms.

Front 77

Societal marketing

Back 77

A company should make marketing decisions by considering consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.

Front 78

Deficient products

Back 78

Products that have neither immediate appeal nor long-run benefits.

Front 79

Pleasing products

Back 79

Products that give high immediate satisfaction but may hurt consumers in the long run

Front 80

Salutary products

Back 80

Products that have low immediate appeal buy may benefit consumers in the long run

Front 81

Desirable products

Back 81

Products that give both high immediate satisfaction and high long run benefits.