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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

Sales Force Structure




(Territorial)

salesperson assigned geographic region, sells company's full line of products/services to all customers in that territory

Sales Force Structure




(Product)

Numerous and complex products

Sales Force Structure




(Customer, Market)

Salespeople specialize in selling only to certain customers or industries




Whirlpool - team assigned to big retailers

Complex Sales Force Structure

Combines several types of orgs


-customer and territory


-product and territory


- product and customer


-territory, product, customer

motivating sales people

quotas


evaluations


salary


comission

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

Prospecting

identifying qualified potential customers


(people that value and appreciate what the company has to offer)

Preapproach

learning as much as possible about prospective customer before making a sales call



Approach

salesperson meets customer for the first time

Presentation

salesperson tells value story to buyer




shows how the company's offer can solve their problem and add value to their business

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

closing

salesperson asks the customer for an order

follow up

salesperson follows up after the sale to ensure customer satisfaction and repeat business

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

Consumer Promotion

sales promotion tools used to boost short term customer buying and involvement or to enhance long term relationships



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)

Business Promotion

sales promotion tools used to generate business leads, stimulate purchases, reward customers, motivate salespeople




(conventions, trade shows)

Ch 14






Digital and social media marketing

online marketing


(websites, online ads, email, online videos, blogs,)




social media marketing




mobile marketing

Ch 14






Traditional direct marketing

face to face selling


direct mail marketing


catalog marketing


telemarketing


direct responce tv marketing


kiosk marketing


online marketing

Ch 14






Direct Marketing

connecting directly with carefully targeted segments or individual consumers on a one to one interactive basis

Ch 14






Benefits from direct marketing

buyers - convenient, easy private




seller - builds customer relationships, low cost, efficient, fast

Ch 14




direct mail marketing

sending an offer announcement, reminder, or other item directly to a person at a particular address

Ch 14



catalog marketing

direct marketing through print, video, digital copies that are mailed to select customers, made available in stores, or presented online

Ch 14




Telemarketing

using telephone to directly sell to customers

Ch 14




Direct Response Television

direct marketing via television, including informercials, and interactive tv ads



Ch 14




Kiosk Marketing

Similar to old fashioned vending machines, but so much more




ex, redbox, airport check in, printing pictures...

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

Ch 14




Multichannel Marketing

using both traditional and digital marketing channels

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



Ch 14




Online Marketing

marketing via the internet company websites, online ads and promotions, email, online video, blogs

Ch 14




Online Marketing




Marketing Web Sites:

interact with consumers to move them closer to a direct purchase or other marketing outcome

Ch 14




Online Marketing




Branded Community Web Sites:

present brand content that engages consumers and creates customer community around a brand



Ch 14




Online advertising

appears while consumers are browsing online

Ch 14




E-mail marketing

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



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

Ch 14




Blogs and other online forums

online journals of narrowly defined topics, where people and companies can post their thoughts and other content

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

Ch 14




Social Media Marketing: Challenges

Still being experimented




difficult to measure results




largely user controlled

Ch 14




Social Media Marketing: Advantages

targeted and personal




interactive




immediate and timely




cost effective




engagement and social sharing capabilities

Ch 14




Mobile Marketing

promotional content delivered to consumers through their mobile devices




engage customers anywhere, anytime, during the buying and relationship-building process

Ch 15




Global Firms

operate in more than one country




gains advantages that are not available to domestic companies

Ch 15




Global Marketing Environment

Tariffs


Quotas


Exchange controls


World Trade Org


Free Trade Zones

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



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.


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.

Ch 15




Entering the Global Market




Joint Venturing

Joining with foreign companies to produce or market products or services


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.


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.


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.


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


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.


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


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.


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

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

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




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


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

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


Ch 16




Marketing Criticism



marketing and society




Materialism

1. The cultural effect ofcountless marketing efforts


2. Cultural of buying things


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


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


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


Ch 16




Marketing Criticism




marketing and society




Environmentalism

i. organized movement to protect and improve current and future livingenvironment



ii. pollution regulations

Ch 16




Business Action




Consumer Oriented Marketing

i. practices sustainable marketing, put themselves in the shoes of theconsumer, try to benefit society as well


Ch 16




Business Action




Customer Value Marketing

focus effects on products adding value to consumers

Ch 16




Business Action




Innovative Marketing

principle of sustainable marketing, companies focus on genuine marketingand products improvements


Ch 16




Business Action




Sense of Mission Marketing

sustainable marketing companies should have amission for a social good instead of talking about products


Ch 16




Business Action




Societal Marketing

consumer short term wants and own short termwants, and balance consumer and business long term interests


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




Ch 16




Ethics

proper and moralbehavior by companies when faced with controversial situations