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24 Cards in this Set

  • Front
  • Back
Consumer Sales Promotion
Sales promotion activities targeting the ultimate consumer.
Trade Sales Promotion
Sales promotion activities targeting a marketing channel member, such as a wholesaler or retailer.
Coupon
A certificate that entitles consumers to an immediate price reduction when they buy the products.
Rebate
A cash refund given for the purchases of a product during a specific period.
Premium
An extra item offered to the consumer, usually in exchange for some proof of purchases of the promoted product.
Loyalty Marketing Program
A promotional program designed to build long term, mutually beneficial relationships between a company and its key customers.
Frequent Buyer Program
A loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service.
Sampling
A promotional program that allows the consumer toe opportunity to try a product or service for free.
Point-of-Purchase Display
A promotional display set up at the retailer's location to build traffic, advertise the product, or induce impulse buying.
Trade Allowance
A price reduction offered by manufacturers to intermediates, such as wholesalers and retailers.
Push Money
Money offered to channel intermediaries to encourage them to "push" products - that is, to encourage other members of the channel to sell the product.
Relationship Selling (Consultative selling)
A sales practice that involves building, maintaining, and enhancing interactions with customer in order to develop long-term satisfaction through mutually beneficial partnerships.
Sales Process (Sales Cycle)
The set of steps a salesperson goes through in a particular organization to sell a particular product or service.
Lead Generation (prospecting)
Identification of those firms and people most likely to buy the seller's offerings.
Referral
A recommendation to a salesperson from a customer or business associate.
Networking
A process of finding out about potential client from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations.
Cold Calling
A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status.
Lead Qualification
Determination of a sales prospect's (1) recognized need, (2) buying power, and (3) receptivity and accessibility.
Preapproach
A process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect.
Needs Assessment
A determination of the customer's specific needs and wants and the range of options the customer has for satisfying them.
Sales Proposal
A formal written document or professional presentation that outlines how the sale person's product or service will meet or exceed the prospect's needs.
Sales Presentation
A formal meeting in which the salesperson presents a sales proposal to a prospective buyer.
Negotiation
The process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement.
Follow Up
The final step of the selling process, in which the salesperson ensures that delivery schedules are met, that the goods or services perform as promised, and that the buyers' employees are properly trained to use the products.