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155 Cards in this Set
- Front
- Back
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personal presentation by the firm's sales force for the purpose of making sales and building customer relationships
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personal selling
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individual representing a company to custoemrs by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building
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salesperson
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analysis, planning, implementation, and control of sales force activities. IT includes designing sales force strategy and structure and recruiting, selecting, training, supervising, compensating, and evaluating the firm's salespeople
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Sales force management
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a sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line
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territorial sales force structure
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a sales force organization under which salespeople specialize in selling only a portion of the company's products or lines
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product sales force structure
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a sales force organization under which salespeople specialize in selling only to certain customers or industries
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customer sales force structure
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outside salespeople who travel to call on customers in the field
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outside sales force
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inside salespeople who conduct business from their offices via telephone, the internet, or visits from prospective buyers
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inside sales force
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using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accoutns
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team selling
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standard that states the amount a salesperson shouild sell and how sales should be divided among the company's products
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sales quota
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steps that the salesperson follows when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up
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selling process
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step in the selling process in which the salesperson or company indentifies qualified potential customers
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prospecting
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step in the selling process in which the salesperson learns as much as possible about a prospective customer before makign a sales call
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preapproach
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step in the selling process in which the salesperson meets the customer for the first time
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approach
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step in selling process in which the salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems
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presentation
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step in the selling process in which the salesperson seeks out, clarifies, and overcomes customer objections to buying
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handling objections
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step in the selling process in which the salesperson asks the customer for an order
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closing
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last step in the selling process in which the salesperson follows up after the sale to ensure customer satisfaction and repeat business
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follow up
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short term incentives to encourage the purchase or sale of a product or service
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sales promotion
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sales promotion tools used to boost short-term customer buying and involvement or enhance long-term customer relationships
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consumer promotions
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creating a brand-marketing event or serving as a sole or participating sponsor of events created by others
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event marketing
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sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers
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trade promotions
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sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople
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business promotions
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direct connections with carefully targeted individual consuemrs to both obtain an immediate response and cultivate lasting customer relationships
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direct marketing
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organized collection of comprehensive data about individual customers or prospects, including geographic, demographic, psychographic, and behavioral data
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customer database
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direct marketing by sending an offer, announcment, reminder, or other item to a person at a particular address
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direct-mail marketing
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direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online
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catalog marketing
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using the telephone to sell directly to customers
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telephone marketing
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direct marketing via television, including direct response televsion advertising, and home shopping channels
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direct-response television marketing
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company efforts to market products and services and build customer relationships over the internet
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online marketing
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vast public-web of computer networks that connects users of all types all around the world to each other and to an amazingly large information repository
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internet
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to so called dot-coms, which operate only online without any brick and mortar market presence
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click only companies
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selling goods and services online to final consumers
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business-to-consumer online marketing
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traditional brick and mortar companies that have added online marketig to their operations
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click and mortar companies
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using B2B web sites, email, online product catalogs, online trading networks, and other online resources to reach new busienss customers, serve current customers more effectively, and obtain buying efficiencies and better prices
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busienss to business online marketing
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online exchangers of goods and information between final consumers
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consumer to consumer online marketing
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online exchanges in which consumers search out sellers, learn about their offers, and initiate purchases, sometimes even driving transaction terms
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consumer to busienss online marketing
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a web site designed to build customer goodwill, collect customer feedback, andsupplement other sales channels, rather than to sell the company's products directly
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corporate (or brand) web site
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a web site that engages consumers in interactions that will move them closer to a direct purchase or other marketing outcome
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marketing web site
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advertising that appears while consumers are surfing the web, including display ads, search-related ads, online classifieds, and other forms
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online advertising
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internet version of word-of-mouth marketing--web sites, videos, email messages, or other marketing events that are so infectious that customers will want to pass them along to friends
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viral marketing
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online social communities--blogs, social networking web sites, or even virtual worlds---where people socialize or exchange information and opinions
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online social networks
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unsolicited, unwanted commercial email messages
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spam
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firm that by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors
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global firm
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group of nations organized to work toward common goals in the regulaiton of international trade
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economic community
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internationl trade involving the direct or indirect exchange of goods for other goods instead of cash
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countertrade
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entering a foreign market by selling goods produced in the company's home country, often with little modification
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exporting
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entering foreign markets by joining with foreign companies to produce or market a product or service
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joint venturing
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method of entering a foreign market in which the company enters into an agreement with a licensee in the foreign market, offering the right ot use a manufacturing process, trademark, patent, trade secret, or other item of value for a fee or royalty
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licensing
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a joint venture in which a company contracts with manufatureres in a foreign market to produce the product or provide its service
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contract manufacturing
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joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the captial, the domestic firm exports management services rather than products
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management contracting
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a joint venture in which a company joins investors ina foreign market to craete a local business in which the company shares joint ownership and control
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joint ownership
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entering a foreing market by developing foreign-based assembly or manufacturing facilities
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direct investment
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international marketing strategy for using basically the same marketing strategy and mix in all the company's international markets
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standardized global marketing
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international marketing strategy for adjusting the marketing strategy and mix elements to each international target market, bearing more costs but hoping for a larger market share and returns
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adapted global marketing
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marketing a product in a foreign market without any chagne
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straight product extension
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adapting a product to meet local conditions or wants in foreign markets
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product adaption
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creating new products or services for foreign markets
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product invention
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global communications strategy of fully adapting advertising messages to local markets
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communication adaptation
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designing international channels that take into account the entire gobal supply chain and marketing channel, forgin and effective global value delivery network
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whole-channel view
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organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers
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consumerism
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an organized movement of concerned citizens and goverment agencies to protect and improve people's living environment
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environment
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mangement approach that involves developing strategies that both sustain the environment and produce profits for the company
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environmental sustainability
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marketing philosophy holding that a company's marketing should support the best long-run performance of the marketing system
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enlightened marketing
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philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer's point of view
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consumer-oriented marketing
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principle of enlightened marketing that holds that a company should put most of its resources into customer value-building marketing investments
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customer value marketing
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principle of enlightened marketing that requires that a company seek real product and marketing improvements
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innovative marketing
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principle of enlightened marketing that holds that a company should define its mission in broad social terms rather than narrow product terms
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sense of mission marketing
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principle of enlightened marketing that holds htat a company shuold make marketing decisions by considering consumer's wants, the company's requirements, consumers' long-run interests, and society's long-run interests
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societal marketing
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products taht have neither immediate appeal nor long-run benefits
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deficient products
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products that give high immediate satisfaction but may hurt consumers in the long run
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pleasing products
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products that have low appeal but may benefit consumers in the long run
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salutary products
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products that give both high immediate satisfaction and high long-run benefits
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desirable products
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______ - offers of a trial amount of a product. Some are free, some not. Door to door, mail, handed out at stores.
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samples
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____ - certificates that give buyers a saving when they purchase specified products. Promote early trial of a new brand. (Cellfire.com)
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Coupons
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___ -like coupons except that the price reduction occurs after the purchase rather than at the retail outlet. Ex. - Toro (snowblower company) offered this if snowfall in buyer's market was below average.
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Rebates (cash refunds)
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----- - offer consumers savings off hte regular price of a product. Producer marks the reduced prices directly on the label or package.
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PRICE PACKS
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_______ - goods offered either free or at low cost as an incentive to buy a product, ranging from toys included with kids' products to phone cards and DVDs. May come inside the package, outside the package, or through mail.
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Premiums
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__________ - useful articles imprinted with an advertiser's name, logo, or message that are given as gifts to consumers. (tshirts, pens, calendars, etc)
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Promotional products (advertising specialties)
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_________ _ displays and demonstrations that take place at point of sale.
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POP promotions
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______ - consumers submit an entry (jingle, guess, suggestion)
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contests
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________ -consumers to submit their names for a drawing
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sweepstakes
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_____ - presents consumers w/ something (bingo, missing letters ex - AMIGOS iPod giveaway)
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game
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information and ordering machines in stores. (ex - hotel and airline self service checkin, Kodak stands in Walgreens that let customers transfer memory card to machine, trade shows)
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kiosks
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WebSite
site's layout design |
context
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WebSite
text, pictures, sounds, and video that the Web site contains |
content
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WebSite
ways the site enables user-to-user communication |
Community
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WebSite
site's ability to tailor itself to different users or to allow users to personalize the site |
customization
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WebSite
ways the site enables site-to-user, user-to-site, or two-way communication |
communication
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WebSite
degree that the site is linked to other sites |
connection
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WebSite
site's capabilities to enable commercial transactions |
commerce
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Forms of online advertising
found on top, left, right, bottom of page |
banners
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Forms of online advertising
online display ads that appear between screen changes on a website, especially while a new screen is loading. Ex - visit www.marketwatch.com and you'll probably see a 10-second ad for Visa, Verizon, Dell, or another sponsor before the hompage loads |
Interstitials
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Forms of online advertising
display ads which incorporate animation, video, sound, and interactivity. Employ techinques such as float, fly, snapback--animations that jump out and sail over the web page before retreating to their original space. Ex - Chicago Board of Trade website |
Rich Media
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Forms of online advertising
Text-based ads and links appear alongside search engine results on sites such as Google and Yahoo. Ex - search HDTV on Google and first 3 results will be BestBuy, Circuit City, Amazon. Ex - Honda uses key word search ads to lure WEb surfers to sites to promote its Honda Element Models. |
Search-related ads
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Forms of online advertising
Companies gain name exposures on the internet by sponsoring special content on various web sites. Ex - David Sunflower Seeds sponsors ESPN Fantasy Baseball |
content sponsorships
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Forms of online advertising
work with other companies, online and offline to promote eachother. Ex - Amazon.com has over 900,000 affiliates who post Amazon.com banners on their websites. |
alliances and affiliate progams
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Forms of online advertising
internet version of word of mouth marketing. Ex - Burger king's Subservient Chicken |
Viral Marketing
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taxes on certain imported products designed to raise revenue or to protect domestic firms (Ex - China slaps a 25 percent tariff on US and other imported autos)
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tariffs
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Limits on the amount of foreign imports they will accept in certain product categories. Purpose of these is to conserve on foreign exchange and to protect local industry and employment.
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Quotas
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Biases against US company bids, restrictive product standards, or excessive regulations. Ex - US foreign policy makers have criticized China for protectionist regulations and othe actions that restrict access to several Chinese markets, including banking services.
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Nontariff trade barriers
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The ______ promotes world trade by reducing tariffs in other international trade barriers. The WTO oversees this, imposes trade sanctions, and mediates global disputes.
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GATT
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European Union is an example of an ___ _____
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economic community
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Country's ______ ______ shapes its product and service needs, income levels, employment levels.
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industrial structure
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In a ___ economy, vast majority of people engage in simple agriculture. They consume most of their output and barter the rest for simple goods and services. They offer few market opportunities.
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Subsistence
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These economies are rich in one or more natural resource, but poor in other ways. Good markets for large equipment, tools and supplies, and trucks.
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Raw Material exporting economy
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In this economy, manufacturing accounts for 10 to 20% of the country's economy. As manufaturing increases, country needs more imports of raw textile materials, steel and heavy machinery. Creates a new rich class and small but growing middle class.
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Industrializing economy
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These economies are major exporters of manufactured goods, services, and investment funds. They trade goods among themselves and also export them to other types of economies for raw materials. Large middle class.
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Industrial economy
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___ involves the direct exchange of goods or services (Ex - Azerbaijan imported wheat from Romania in exchange for crude oil, and Vietam exchanged rice for Philippine fertilizer and coconuts.
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Barter
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_____ - the seller sells a plant, equipment, or technology to another conutry and agrees to take payment in the resulting product.
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compensation
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_______ - seller receives full payment in cash but agrees to spend some of the money in the other country. Ex - Boeing sells aircraft to India and agrees to by Indian coffee, rice, castor oil and other goods and sell them elsewhere.
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Counter-purchase
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_____ exporting - working through independent international marketing intermediaries. Involves less investment b/c the firm doesn't require an overseas marketing organization or network.
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Indirect
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_______ exporting - handle their own exports.
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direct
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occurs when a company iether charges less than its costs or less than it charges in its homehome market. Ex - US southern shrimp alliance, which represents thousands of small shrimp operations in the southeastern US, recently complaine that six countires have been dumping excess supplies of farmed shirmp on the US market
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dumping
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deceptive ____ includes practices such as falely advertising factory or wholesale pries or a large price reduction from a phony high retail list price
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pricing
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deceptive ______ includes practices such as misrepresenting the product's features or performance or luring hte customers to sthe store for a bargain that is out of stock
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promotion
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deceptive _____ includes exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms.
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packaging
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_____ want people and organizations to operate with more care for the environement. Marketing goal should be to maximize life quality.
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environmentalism
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______ ______ - internal & today. Eliminating or minimizing waste before it is created. Ex - green marketing programs: designing and developing ecologically safer products, recyclable and biodegradable packaging, better pollution contorls, and more energy-efficient operations. (hybrid cars)
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Pollution Prevention
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______ ______ - external & today. Minimizing environmental impact throughout the entire product lifecycle. Ex - many companies are adopting DFE practices. Design produts that are easier to reuse, recover, and recycle (Xerox new equipment)
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Product stewardship
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______ _____ _____ - internal & tomorrow. Developing new sets of environmental skills and capabilities. Ex - Wal-Mart opened 2 experimental susperstores designed to test dozens of environmentally friendly and energy-efficient technologies.
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New Clean Technology
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_____ ____ - external and tomorrow. Serves as a guide to the future. Shows how the company's products, services, processes, and policies must evolve and what new technologies must be developed to get there.
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sustainability vision
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Englighetend Marketing's five principles
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1. consumer-oriented marketing
2. innovative marketing 3. value marketing 4. societal marketing 5. sense-of-mission marketing |
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Samsung's Wow Test are an example of ______ marketing
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innovative
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Under the ___ _____ concept, managers must look beyond what is legal and allowable and develop standards based on personal integrity, corporate consceience, and long-term consumer welfare.
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societal marketing
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To be truthful and forthright in our dealings with custoemrs and stakeholders
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honesty
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to accept the consequences of our marketing decisions and strategies
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responsibility
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to try to balance justly the needs of the buyer with the interests of the seller
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fairness
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to acknowledge the basic human dignity of all stakeholders
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respect
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to create transparency in our marketing operations
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openess
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to fulfill the economic, legal, philanthropic,and societal responsibilities that serve stakeholders in a strategic manner
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citizenship
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group customers with similar buying intentions or patterns (Amzon)
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collaborative filtering
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facilitates the sale of products and services by electronic means benefits both buyers and sellers
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e-commerce
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includes efforts that inform, communicate, promote, and sell products and services over the internet
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e-marketing
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What is the main purpose of a corporate Web site?
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build customer goodwill and relationships
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are online ads that pop up between screen changes on a Web site, especially while a new screen is loading.
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intersitials
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Display ads that use eye-catching techniques such as float, fly, and snapback are called ________.
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rich-media ads
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When companies work with each other online and offline to promote each other, they are creating ________.
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alliance and affilate programs
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type of identity theft that uses deceptive e-mails and fraudulent web sites to fool consumers into revealing their personal data
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phishing
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International trade growth is most visible in ________.
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developing countries
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A(n) ________ is a tax levied by a foreign government against certain imported products.
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tariff
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A(n) ________ is a limit on the amount of goods that an importing country will accept in certain product categories.
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quota
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A(n) ________ serves to limit the amount of foreign exchange and the exchange rate against other currencies.
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exchange control
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Economic communities are also known as _________.
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free trade zones
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Very few market opportunities are available in a(n) ________ economy.
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substinence
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Demographic characteristics, geographic characteristics, economic factors, sociocultural factors, and political and legal factors all help a company determine a ______ ________.
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market's potential
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_____ is a method of entering a foreign market that involves a company coming together with a foreign company to produce or market products or services.
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joint venturing
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_____ involves entering a foreign market by developing foreign-based assembly or manufacturing facilities.
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direct investment
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Changing promotions for each local market is known as ________.
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communication adaption
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adjusting or adapting to a specfic culture other than one's own and "one of the keys to success in international operations"
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acculturation
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Daimler Chrysler agreed to sell 30 trucks to Romania in exchange for 150 Romanian jeeps, which it then sold to Ecuador for bananas, which were in turn sold to a German supermarket chain for German currency. What is this an example of?
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countertrading
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When Boeing sells aircraft to India and agrees to buy Indian coffee, rice, and castor oil and to sell these products elsewhere, Boeing is engaging in ________.
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counterpurchasing
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_____ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.
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consumerism
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Companies emphasizing ________ are developing “green marketing” programs that develop ecologically safer products, recyclable and biodegradable packaging, more energy-efficient operations, and better pollution controls.
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pollution prevention
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Minimizing pollution from production and all environmental impacts throughout the full product life cycle is called ________.
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product stewardship
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