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71 Cards in this Set
- Front
- Back
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features
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The qualities, both tangible and intangible, that a company builds into its products.
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advertising agency
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A firm that specializes in creating and placing advertisements in the media for clients.
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advertising campaign
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The arrangement of ads in selected media to reach target audiences.
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advertising medium:
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The specific communication device–television, radio, newspapers, direct mail, magazines, billboards–used to carry a firm's advertising message to potential customers.
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advertising
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Promotional tool consisting of paid, non-personal communication used by an identified sponsor to inform an audience about a product
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advocacy advertising
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Advertising that promotes a particular viewpoint or candidate.
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brand advertising:
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Advertising that promotes a specific brand-name product.
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brand awareness
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Extent to which a brand name comes to mind when the consumer considers a particular product category.
brand equity: Degree of consumers' |
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brand equity:
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Degree of consumers' loyalty to and awareness of a brand and its resultant market share.
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brand loyalty:
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Customers' recognition of, preference for, and insistence on buying a product with a certain brand name.
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branding
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Process of using symbols to communicate the qualities of a product made by a particular producer.
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capital items
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Expensive, long-lasting industrial goods that are used in producing other goods or services and have a long life.
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closing
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In personal sales, the process of asking the customer to buy the product
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co-operative advertising
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Advertising in which a manufacturer together with a retailer or a wholesaler advertise to reach customers.
comparative advertising: An advertising |
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comparative advertising
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An advertising strategy, appropriate to the growth stage of the product life cycle, in which the goal is to influence the customer to switch from a competitor's similar product to the firm's product by directly comparing the two products.
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Consumer Packaging and Labelling Act
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A federal law that provides comprehensive rules for packaging and labelling of consumer products.
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convenience goods/services
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Relatively inexpensive consumer goods or services that are bought and used rapidly and regularly, causing consumers to spend little time looking for them or comparing their prices.
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copyright
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Exclusive ownership rights granted to creators for the tangible expression of an idea.
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coupon
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A method of sales promotion featuring a certificate that entitles the bearer to stated savings off a product's regular price.
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creative selling
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In personal sales, the use of techniques designed to persuade a customer to buy a product when the benefits of the product are not readily apparent or the item is very expensive.
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direct mail
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Printed advertisements, such as flyers, mailed directly to consumers' homes or places of business.
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expense items
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Relatively inexpensive industrial goods that are consumed rapidly and regularly.
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global perspective
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Company's approach to directing its marketing toward worldwide rather than local or regional markets.
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industrial advertising
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Advertising by manufacturers designed to reach other manufacturers' professional purchasing agents and managers of firms buying raw materials or components.
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industrial selling
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Selling products to other businesses, either for manufacturing other products or for resale.
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informative advertising
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An advertising strategy, appropriate to the introduction stage of the product life cycle, in which the goal is to make potential customers aware that a product exists.
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institutional advertising
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Advertising that promotes a firm's long-term image, not a specific product.
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label
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That part of a product's packaging that identifies the product's name and contents and sometimes its benefits.
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licensed brands
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Selling the right to use a brand name, a celebrity's name, or some other well-known identification mark to another company to use on a product.
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media mix
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The combination of media through which a company chooses to advertise its products.
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missionary selling
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In personal sales, the indirect promotion of a product by offering technical assistance and/or promoting the company's image.
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national brands
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Products distributed by and carrying a name associated with the manufacturer
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order processing
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In personal sales, the receiving and follow-through on handling and delivery of an order by a salesperson.
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packaging
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The physical container in which a product is sold, including the label.
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patent
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Protects an invention or idea for a period of 20 years.
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personal selling
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Promotional tool in which a salesperson communicates one-on-one with potential customers.
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persuasive advertising
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An advertising strategy, appropriate to the growth stage of the product life cycle, in which the goal is to influence the customer to buy the firm's product rather than the similar product of a competitor.
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point-of-purchase (POP) display
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A method of sales promotion in which a product display is so located in a retail store as to encourage consumers to buy the product.
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premium
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A method of sales promotion in which some item is offered free or at a bargain price to customers in return for buying a specified product.
private brands |
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private brands
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Products promoted by and carrying a name associated with the retailer or wholesaler, not the manufacturer.
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product adaptation
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Product modified to have greater appeal in foreign markets.
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product advertising
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A variation on brand advertising that promotes a general type of product or service.
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product extension
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Existing, unmodified product that is marketed globally.
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product life cycle (PLC)
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The concept that the profit-producing life of any product goes through a cycle of introduction, growth, maturity (levelling off), and decline.
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product line
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A group of similar products intended for a similar group of buyers who will use them in a similar fashion.
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product mix
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The group of products a company has available for sale.
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product positioning
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The establishment of an easily identifiable image of a product in the minds of consumers.
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promotion
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Any technique designed to sell a product.
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promotional mix
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That portion of marketing concerned with choosing the best combination of advertising, personal selling, sales promotions, and publicity to sell a product.
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public relations
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Public-service announcements by the company designed to enhance the company's image.
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publicity
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Information about a company that is made available to consumers by the news media; it is not controlled by the company, but it does not cost the company any money.
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pull strategy
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A promotional strategy in which a company appeals directly to customers, who demand the product from retailers, which demand the product from wholesalers.
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push strategy
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A promotional strategy in which a company aggressively pushes its product through wholesalers and retailers, which persuade customers to buy it.
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qualifying
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In personal sales, the process of determining whether potential customers have the authority to buy and the ability to pay for a product.
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reintroduction:
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Process of reviving for new markets products that are obsolete in older ones.
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reminder advertising
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An advertising strategy, appropriate to the latter part of the maturity stage of the product life cycle, in which the goal is to keep the product's name in the minds of customers.
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retail advertising
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Advertising by retailers designed to reach end-users of a consumer product.
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retail selling
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Selling a consumer product for the buyer's own personal or household use.
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sales force management
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Setting goals at top levels of an organization; setting practical objectives for salespeople; organizing a sales force to meet those objectives; implementing and evaluating the success of a sales plan.
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sales promotion
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Short-term promotional activities designed to stimulate consumer buying or co-operation from distributors and other members of the trade.
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service package
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Identification of the tangible and intangible features that define the service.
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service process design
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Selecting the process, identifying worker requirements, and determining facilities requirements so that the service can be effectively provided.
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shopping goods/services
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Moderately expensive consumer goods or services that are purchased infrequently, causing consumers to spend some time comparing their prices.
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specialty goods/services
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Very expensive consumer goods or services that are purchased rarely, causing consumers to spend a great deal of time locating the exact item desired.
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speed to market
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Strategy of introducing new products to respond quickly to customer and/or market changes.
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technology
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The application of science that enables people to do entirely new things or to perform established tasks in a new and better way.
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trade advertising
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Advertising by manufacturers designed to reach potential wholesalers and retailers.
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trade shows
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A method of sales promotion in which members of a particular industry gather for displays and product demonstrations designed to sell products to customers.
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trademark
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The exclusive legal right to use a brand name.
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value package
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Product marketed as a bundle of value-adding attributes, including reasonable cost.
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word of mouth
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Opinions about the value of products passed among consumers in informal discussions.
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