Marketing Chapter 16 : Sales Promotion And Personal Selling

Front 1

Consumer Sales Promotion

Back 1

Sales promotion activities targeting the ultimate consumer.

Front 2

Trade Sales Promotion

Back 2

Sales promotion activities targeting a marketing channel member, such as a wholesaler or retailer.

Front 3

Coupon

Back 3

A certificate that entitles consumers to an immediate price reduction when they buy the products.

Front 4

Rebate

Back 4

A cash refund given for the purchases of a product during a specific period.

Front 5

Premium

Back 5

An extra item offered to the consumer, usually in exchange for some proof of purchases of the promoted product.

Front 6

Loyalty Marketing Program

Back 6

A promotional program designed to build long term, mutually beneficial relationships between a company and its key customers.

Front 7

Frequent Buyer Program

Back 7

A loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service.

Front 8

Sampling

Back 8

A promotional program that allows the consumer toe opportunity to try a product or service for free.

Front 9

Point-of-Purchase Display

Back 9

A promotional display set up at the retailer's location to build traffic, advertise the product, or induce impulse buying.

Front 10

Trade Allowance

Back 10

A price reduction offered by manufacturers to intermediates, such as wholesalers and retailers.

Front 11

Push Money

Back 11

Money offered to channel intermediaries to encourage them to "push" products - that is, to encourage other members of the channel to sell the product.

Front 12

Relationship Selling (Consultative selling)

Back 12

A sales practice that involves building, maintaining, and enhancing interactions with customer in order to develop long-term satisfaction through mutually beneficial partnerships.

Front 13

Sales Process (Sales Cycle)

Back 13

The set of steps a salesperson goes through in a particular organization to sell a particular product or service.

Front 14

Lead Generation (prospecting)

Back 14

Identification of those firms and people most likely to buy the seller's offerings.

Front 15

Referral

Back 15

A recommendation to a salesperson from a customer or business associate.

Front 16

Networking

Back 16

A process of finding out about potential client from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations.

Front 17

Cold Calling

Back 17

A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status.

Front 18

Lead Qualification

Back 18

Determination of a sales prospect's (1) recognized need, (2) buying power, and (3) receptivity and accessibility.

Front 19

Preapproach

Back 19

A process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect.

Front 20

Needs Assessment

Back 20

A determination of the customer's specific needs and wants and the range of options the customer has for satisfying them.

Front 21

Sales Proposal

Back 21

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.

Front 22

Sales Presentation

Back 22

A formal meeting in which the salesperson presents a sales proposal to a prospective buyer.

Front 23

Negotiation

Back 23

The process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement.

Front 24

Follow Up

Back 24

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.