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72 Cards in this Set
- Front
- Back
Personal Selling |
Interpersonal interactions with customers and prospects to make sales and maintain relationships |
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Sales Force Structure (Territorial) |
salesperson assigned geographic region, sells company's full line of products/services to all customers in that territory |
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Sales Force Structure (Product) |
Numerous and complex products |
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Sales Force Structure (Customer, Market) |
Salespeople specialize in selling only to certain customers or industries Whirlpool - team assigned to big retailers |
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Complex Sales Force Structure |
Combines several types of orgs -customer and territory -product and territory - product and customer -territory, product, customer |
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motivating sales people |
quotas evaluations salary comission |
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Personal Selling Process |
goal = get new customers and obtain orders from them, maintain existing accounts 1. prospecting 2. pre-approach 3. approach 4. presentation and demonstration 5. handling objection 6. closing 7. follow-up |
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Prospecting |
identifying qualified potential customers (people that value and appreciate what the company has to offer) |
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Preapproach |
learning as much as possible about prospective customer before making a sales call |
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Approach |
salesperson meets customer for the first time |
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Presentation |
salesperson tells value story to buyer shows how the company's offer can solve their problem and add value to their business |
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handling objections |
salesperson seek out, clarifies, and overcomes any customer objections to buying turn objections into opportunity to provide more info and more reasons for buying |
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closing |
salesperson asks the customer for an order |
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follow up |
salesperson follows up after the sale to ensure customer satisfaction and repeat business |
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sales promotion |
short term incentives to encourage the purchase or sales of a product or service Offers a reason to buy the prouct now *consumer promotions - final customers *trade promotions - wholesalers, retailers *business promotions - business customers |
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Consumer Promotion |
sales promotion tools used to boost short term customer buying and involvement or to enhance long term relationships |
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Trade Promotion |
sales promotion tools used to persuade retailers and wholesalers to carry a brand, give it shelf space, promote it in advertising, and push it to customers (discounts, free good) (ex: Tide) |
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Business Promotion |
sales promotion tools used to generate business leads, stimulate purchases, reward customers, motivate salespeople (conventions, trade shows) |
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Ch 14 Digital and social media marketing |
online marketing (websites, online ads, email, online videos, blogs,) social media marketing mobile marketing |
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Ch 14 Traditional direct marketing |
face to face selling direct mail marketing catalog marketing telemarketing direct responce tv marketing kiosk marketing online marketing |
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Ch 14 Direct Marketing |
connecting directly with carefully targeted segments or individual consumers on a one to one interactive basis |
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Ch 14 Benefits from direct marketing |
buyers - convenient, easy private seller - builds customer relationships, low cost, efficient, fast |
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Ch 14 direct mail marketing |
sending an offer announcement, reminder, or other item directly to a person at a particular address |
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Ch 14 catalog marketing |
direct marketing through print, video, digital copies that are mailed to select customers, made available in stores, or presented online |
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Ch 14 Telemarketing |
using telephone to directly sell to customers |
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Ch 14 Direct Response Television |
direct marketing via television, including informercials, and interactive tv ads |
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Ch 14 Kiosk Marketing |
Similar to old fashioned vending machines, but so much more ex, redbox, airport check in, printing pictures... |
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Ch 14 Digital and Social Media Marketing |
using digital marketing tools to engage customers anywhere, anytime via their digital devices changed customer notions of convenience, speed, price, product info, service, brand interactions |
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Ch 14 Multichannel Marketing |
using both traditional and digital marketing channels |
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Ch 14 Internet |
online marketing click only companies - dotcos, operate only online, no brick and mortar market presence click and mortar companies - added online marketing to their operations |
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Ch 14 Online Marketing |
marketing via the internet company websites, online ads and promotions, email, online video, blogs |
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Ch 14 Online Marketing Marketing Web Sites: |
interact with consumers to move them closer to a direct purchase or other marketing outcome |
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Ch 14 Online Marketing Branded Community Web Sites: |
present brand content that engages consumers and creates customer community around a brand |
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Ch 14 Online advertising |
appears while consumers are browsing online |
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Ch 14 E-mail marketing |
sending highly targeted, highly personalized, relationship-building marketing messages via email |
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Ch 14 Online Videos: Viral Marketing: |
can engage millions of consumers Videos, ads, and other marketing content that customers seek out or pass along to friends |
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Ch 14 Blogs and other online forums |
online journals of narrowly defined topics, where people and companies can post their thoughts and other content |
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Ch 14 Social Media Marketing |
Independent and commercial online communities where people congregate, socialize, and exchange views and information marketers engage in social media by: *using existing ones *setting up their own |
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Ch 14 Social Media Marketing: Challenges |
Still being experimented difficult to measure results largely user controlled |
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Ch 14 Social Media Marketing: Advantages |
targeted and personal interactive immediate and timely cost effective engagement and social sharing capabilities |
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Ch 14 Mobile Marketing |
promotional content delivered to consumers through their mobile devices engage customers anywhere, anytime, during the buying and relationship-building process |
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Ch 15 Global Firms |
operate in more than one country gains advantages that are not available to domestic companies |
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Ch 15 Global Marketing Environment |
Tariffs Quotas Exchange controls World Trade Org Free Trade Zones |
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Ch 15 World Economies |
subsistence economies: agriculture Raw material exporting economies: rich in one or more natural resources but poor in many other ways Emerging economies: fast growth in manufacturing results in rapid overall growth Industrial economies: major exporters of manufactured goods, services, and investment funds |
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Ch 15 Culture |
Everycountry has its own norms in business and just their daily way of life.Companies must understand how culture affects consumer reactions in each of itsworld markets when designing a global marketing strategy. |
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Ch 15 Entering the Global Market Exporting |
Simplestway to enter a foreign market – The company may passively export its surplusesfrom time to time or it may make an active commitment to expand exports to aparticular market. |
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Ch 15 Entering the Global Market Joint Venturing |
Joining with foreign companies to produce or market products or services |
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Ch 15 Entering the Global Market Licensing |
Simpleway for a manufacturer to enter a foreign market. The company enters into anagreement with a licensee in a foreign market for a fee or royalty payments,the licensee buys the right to use the company’s manufacturing process,trademark, patent, trade secret or other item of value. For example, In Japan,Budweiser beer is brewed from Kirin breweries. |
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Ch 15 Entering the Global Market Contract Manufacturing |
wherethe company makes agreements with manufacturers in the foreign market toproduce its product or provide its service. Sears used this method in openingup department stores in Mexico and Spain, where it found qualified localmanufactures to produce many of the products it sells there. |
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Ch 15 Entering the Global Market Management Contracting |
Wheredomestic firms proved the management know-how to a foreign company thatsupplies the capital. This is used because management from the foreign countryknows the foreign markets better. |
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Ch 15 Entering the Global Market Jointownership |
consistof one company joining forces with foreign investors to create a local businessin which they share possession and control |
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Ch 15 Entering the Global Market Direct Investment |
Enteringa foreign market by developing foreign based assembly or manufacturing facilities.For example, Ford has made direct investment in several Asian countries,including India, China, and Thailand. |
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Ch 15 Deciding on a global marketing program |
Adapted global marketing costs more, buthopefully results in producing a larger market share and return since everyforeign market varies. Standardized global Mrkt: using the same mrkt worldwide Adapted global Mrkt: adjusting the mrkt strategy to each target market |
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Ch 15 DistributionChannels |
Whole– channel view – designing international channels that take into account theentire global supply chain and marketing channel, forging an effective globalvalue deliver network.- Firstin the whole channel view there is a international seller, then channelsbetween nations, then the channels within the nation, and finally the finaluser or buyer.Distribution channels vary dramatically aroundthe world, For example, in the U.S. Coca-Cola distributes products throughsophisticated retail channels. In less-developed countries it delivers cokeusing everything from push carts to deliver donkeys. |
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Ch 16 Sustainable Marketing |
socially and environmentally responsiblemarketing that meets the present needs of consumers and businesses while also preservingor enhancing When companies makeefforts to reduce their amount of packaging to help have a smaller impact onthe environment Mcdonalds does this by,reducing packaging, making decision to reduce calories of their food, and alsothe ronald Mcdonald house |
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Ch 16 Marketing Criticism High Cost of Distribution |
i. critics claim that their are too many intermediaries, intermediariescharge too much along the way. ii. this is counteracted by low-price stores like walmart and costco whichpressure companies to have competitive prices |
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Ch 16 Marketing Criticism High advertising andpromotion costs |
Marketing is criticized that they mark up prices in order to pay forexpensive ad campaigns and marketing efforts, to increase sales of the now higherpriced products 1. best example of this iswhen you see the price differences in brand name vs non-branded/store brandedproducts a. one a day vitamins vsthe walmart brand 2. critics argue that when marketers do this they are only addingphysiological value |
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Ch 16 Marketing Criticism Excessive Markups |
biggest criticism of this comes in the pharmaceutical industry 1. a pill that costs 5cents to make often costs $2 to the consumer 2. pharmaceutical companies argue that these markups have to help to coverfuture and past r&d |
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Ch 16 Marketing Criticism Deceptive Practices |
i.) marketers lead consumer to believe that they will receive more value than they really do 1. this happens when steep discounts to products that have artificially inflated prices ii.) high pressure selling occurs in industries such asautomobile and real-estate sales, tv infomercials 1. not effective in longrun because you don’t create a relationship with the customer iii.) unsafe products 1. critics claim that soft drink companies should be more upfront about the unhealthy effects of their products |
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Ch 16 Marketing Criticism marketing and society |
i. False wants 1. critics believe thatmarketers promote consumption and make consumers want to buy products that theyotherwise would not have 2. marketers argue that marketing to consumers is easier when marketing fora current need rather than making one up |
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Ch 16 Marketing Criticism marketing and society Materialism |
1. The cultural effect ofcountless marketing efforts 2. Cultural of buying things |
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Ch 16 Marketing Criticism marketing and society Too few social goods |
1. many times creatingprivate products causes need for public products a. example that theautomobile market spurred the need for gov’t to make roads and highways |
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Ch 16 Marketing Criticism marketing and society Cultural Pollution |
1. the idea that ourculture is becoming tainted by the fact that we are exposed to marketingefforts at every turn in our lives |
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Ch 16 Marketing Criticism marketing and society Sustainable Marketing |
i. consumerism- organized efforts to increase buyer power 1. the FDA and otherregulators ii. buyers rights 506 1. right not to buy aproduct 2. the right to expect theproduct to be safe iii. sellers rights 1. allowed to sellproducts as long as they do what they claim |
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Ch 16 Marketing Criticism marketing and society Environmentalism |
i. organized movement to protect and improve current and future livingenvironment
ii. pollution regulations |
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Ch 16 Business Action Consumer Oriented Marketing |
i. practices sustainable marketing, put themselves in the shoes of theconsumer, try to benefit society as well |
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Ch 16 Business Action Customer Value Marketing |
focus effects on products adding value to consumers |
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Ch 16 Business Action Innovative Marketing |
principle of sustainable marketing, companies focus on genuine marketingand products improvements |
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Ch 16 Business Action Sense of Mission Marketing |
sustainable marketing companies should have amission for a social good instead of talking about products |
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Ch 16 Business Action Societal Marketing |
consumer short term wants and own short termwants, and balance consumer and business long term interests |
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Ch 16 Business Action Societal Marketing Cont. |
Desirable Products - reliable car, house high immediate satisfaction high long term consumer benefit Pleasing Products - movie ticket, bar high immediate satisfaction low long term consumer benefit Deficient Products - face cleaner, teeth whiteners low immediate satisfaction low long term consumer benefit Salutary Products - seatbelts, air bags, insurance low immediate satisfaction high long term consumer benefit
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Ch 16 Ethics |
proper and moralbehavior by companies when faced with controversial situations |