Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
111 Cards in this Set
- Front
- Back
|
advertising
|
any paid form of nonpersonal communication about an organization, a good, a service, or an idea by an identified sponsor
|
|
|
product advertisments
|
pioneering, competitive, and reminder focused advertisments on selling a good or service
|
|
|
institutional advertisements
|
objective is to build goodwill or an image for an organization rather than promote a specific good or service
|
|
|
reach
|
the number of different people or households exposed to an advertisement
|
|
|
rating
|
the percentage of households in a market that are tuned to a particular TV show or radio station
|
|
|
frequency
|
the average number of times a person in the target audience is exposed to a message or advertisement
|
|
|
gross rating points
|
reach is multiplied by frequency, an advertiser will obtain a commonly used reference number
|
|
|
cost per thousand
|
refers to the cost of reaching 1000 individuals or households with the advertising message in a given medium
|
|
|
infomercials
|
are program-length advertisments that take an educational approach to communication with potential customers
|
|
|
pretests
|
conducted before the advertisements are placed in any medium
|
|
|
full-service agency
|
provides the most complete range of services, including market research, media selection, copy development, artwork and production
|
|
|
limited-service agency
|
specializein one aspect of the advertising process
|
|
|
in-house agencies
|
made up of the company's own advertising staff; may provide full services or a limited range of services
|
|
|
posttests
|
advertisements may go through these after it has been shown to the target audience to determine whether it accomplished its intended purpose
|
|
|
customer-oriented sales promotion
|
are sales tools used to support a company's advertising and personal selling
|
|
|
product placement
|
involves the use of a brand-name product in a movie, television show, video, or commercial for another product
|
|
|
cooperative advertising
|
encouraging both better quality and greater quantity in the local advertising efforts of resellers
|
|
|
publicity tools
|
are available to the public relations director; methods of obtaining nonpersonal presentation of an organization, good, or serivce without direct cost
|
|
|
personal selling
|
involves the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
|
|
|
sales management
|
involves planning the selling program and implementing and controlling the personal selling effort of the firm
|
|
|
relationship selling
|
the practice of building ties to customers based on a saleperson's attention and commitmentto customer needs over time
|
|
|
partnership selling
|
buyers and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customers, competitive, and company information for their mutual benefit
|
|
|
order taker
|
processes routine orders or reorders for products that were already sold by the company
|
|
|
order getter
|
sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customer to buy, closes sales, and follows up on customers'use of a product or service
|
|
|
missionary salepeople
|
do no directly solicit orders buy rather concentrate on performing promotional activities and introducing new products
|
|
|
sales engineer
|
is a salesperson who specializes in identifying, analyzing, and solving customer problems and brings know-how and technical expertise to the selling situation buy often does not actually sell products and services
|
|
|
team selling
|
the practice of using an entire team of professionals in selling to and servicing major customers
|
|
|
personal selling process
|
consists of six stages--prospecting, preapproach, approach, presentation, close, follow-up
|
|
|
stimulus-response presentation
|
asuumes that given the appropriate stimulus by a saleperson, the prospect will buy
|
|
|
formula selling presentation
|
is based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prespect
|
|
|
retailing
|
includes all activities involved in selling, renting and providing goods and services to ultimate customers for personal, family or household use
|
|
|
form of ownership
|
distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet
|
|
|
level of service
|
is used to describe the degree of service provided to the customer
|
|
|
merchanside line
|
describes how many different types of products a store carries and in what assortment
|
|
|
depth of product line
|
means that the store carries a large assortment of each item
|
|
|
breadth of product line
|
refers to the variety of different items a store carries
|
|
|
scrambled merchandising
|
offering several unrelated product lines in a single store
|
|
|
hypermarket
|
large stores based on a simple concept: offer consumers everything in a single outlet; successful in Europe
|
|
|
intertype competition
|
competition between very dissimilar types of retail outlets
|
|
|
telemarketing
|
involves using the telephone to interact with and sell directly to consumers
|
|
|
retail positioning matrix
|
a matrix developed by the MAC Group Inc.; positions outlets on two dimensions, breadth of product line and value added
|
|
|
retailing mix
|
includes activities related to managing the store and the merchandise in the store
|
|
|
shrinkage
|
breakage and theft of merchandise by customers and employees
|
|
|
off-price retailing
|
involves selling brand-name merchandise at lower than regular prices
|
|
|
central business district
|
the oldest retail setting, the communities downtown area
|
|
|
regional shopping centers
|
consist of 50 to 150 stores that typically attract customers who live or work within a 5-to-10 mile range
|
|
|
community shopping center
|
typically has one primary store and often about 20 to 40 smaller outlets
|
|
|
strip location
|
to serve people who are within a 5-to-10-minute drive
|
|
|
power center
|
a huge shopping strip with multiple anchor (or national) stores
|
|
|
category management
|
assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category
|
|
|
wheel of retailing
|
describes how new forms of retail outlets enter the market
|
|
|
retail life cycle
|
the process of growth and decline that retail outlets, like products, experience
|
|
|
multichannel reatilers
|
utilize and intergrate a combination of tradional store formats such as catalogs, television, and online retailing
|
|
|
promotional mix
|
the combination of one or more types of communication tools
|
|
|
integrated marketing communications
|
designing marketing communications programs that coordinate all promotional activities-advertising, personal selling, sales promotion, public relations, and direct marketing-to provide a consistent message across all audiences
|
|
|
communication
|
the process of conveying a message to others and requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding
|
|
|
source
|
may be a company or person who has information to convey
|
|
|
message
|
information sent by a source
|
|
|
encoding
|
the process of having the sender transform an idea into a set of symbols
|
|
|
decoding
|
the process of having the receiver take a set of symbols, the message, and trandform them back to an idea
|
|
|
field of experience
|
a similar understanding and knowledge they apply to the message
|
|
|
response
|
the impact the message had on the receiver's knowledge attitudes or behaviors
|
|
|
feedback
|
the sender's interpretation of the response and indicated whether the message was decoded and understood as intended
|
|
|
noise
|
includes extraneous factors that can work against effectivev communication by distorting a message or the feedback received
|
|
|
advertising
|
any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor
|
|
|
personal selling
|
defined as the two-way flow of communication between a buyer and a seller, designed to influence a person's or group's purchase decision
|
|
|
public relations
|
a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services
|
|
|
publicity
|
a nonpersonal, indirectly paid presentation of an organization, good, or service
|
|
|
sales promotion
|
a short-term inducement of value offered to arouse interest in buying a good or service
|
|
|
direct marketing
|
uses direct communication with consumers to generate a response in the form of an order, a request for futher information, or a visit to a retail outlet
|
|
|
push strategy
|
directing the promotinoal mix to channel members to gain their cooperation in ordering and stocking the product
|
|
|
pull strategy
|
directing the promotional mix at ultimate consumers to encourage them to ask the reatiler for the product
|
|
|
hierarchy of effects
|
the sequence of stages a prospecitve buyer goes through from initail awareness of a product to eventual action
|
|
|
awareness
|
the consumer's ability to recognize and remember the product or brand name
|
|
|
interest
|
an increase in the consumer's desire to learn about some of the features of the product or brand
|
|
|
evaluation
|
the consumer's appraisal of the product or brand on oimportant attributes
|
|
|
trial
|
the consumer's actual first purchase and use of the product or brand
|
|
|
adoption
|
through a favorable experience on the first trial, the consumer's repeated purchase and use of the product or brand
|
|
|
percentage of sales budgeting
|
funds are allocated to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold
|
|
|
competitive parity budgeting
|
matching the competitors absolute level of spending or the proportion per point of market share
|
|
|
all-you-can-afford budgeting
|
money is allocated to promotion only after all other budget items are covered
|
|
|
objective and task budgeting
|
whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives and determiens the promotion cost of performing these tasks
|
|
|
direct orders
|
the result of offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction
|
|
|
lead generation
|
the result of an offer designed to generate interest in a product or service and a request of additional information
|
|
|
traffic generation
|
the outcome of an offer designed to motivate people to visit a business
|
|
|
trade-oriented sales promotions
|
sales tools used to support a company's advertising and personal selling directed to wholesalers, retailers, or distributors
|
|
|
need-satisfaction presentation
|
emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers
|
|
|
adaptive selling
|
involves adusting the presentation to fit the selling situation
|
|
|
consultative selling
|
focuses on problem identification where the salesperson serves as an expert on problem recognition and resolution
|
|
|
sales plan
|
a statement describing what is to be achived and where and how the selling effort of salespeople is to be deployed
|
|
|
major account management
|
the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships
|
|
|
workload method
|
formula based method that integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size
|
|
|
account management policies
|
specify who salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out
|
|
|
emotional intelligence
|
the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis
|
|
|
sales quota
|
contains specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated period of time
|
|
|
salesforce automation
|
the use of technology to make the sales function more effective and efficient
|
|
|
ethics
|
the moral principles and values that govern the actions and decisions of an individual or group
|
|
|
laws
|
society's values and standards that are enforceable in the courts
|
|
|
caveat emptor
|
let the buyers beware
|
|
|
consumer bill of rights
|
codified the ethics of exhange between buyers and sellers
|
|
|
economic espionage
|
the clandestine collection of trade secrets or propriety information about a company's competitors
|
|
|
code of ethics
|
a formal statement of ethical principles and rules of conduct
|
|
|
whisle-blowers
|
employeese who report unethical or illegal actions of their employers
|
|
|
moral idealism
|
a personal moral philosophy that considers individual rights or duties as universal, regardless of the outcome
|
|
|
utilitarianism
|
a personal moral philosophy that focuses on "the greatest good for that greatest number" by assessing the costs and benefits of the consequences of ethical behavior
|
|
|
social responsibility
|
means that organizations are part of a larger society and are accountable to that society for their actions
|
|
|
green marketing
|
marketing efforts to produce, promote, and reclaim environmentally sensitive products
|
|
|
ISO 14000
|
consists of worldwide standards for enviromenatal quality and green marketing practices
|
|
|
cause marketing
|
occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products
|
|
|
social audit
|
a systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility
|
|
|
sustainable development
|
involves conducting business in a way that protects the natural environment while making economic progress
|
