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