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15 Cards in this Set
- Front
- Back
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A two-way link between buyer and seller that helps in monitoring service and anticipating future needs
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Communication
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There should be a minimum of effort on the part of the buyer in doing business with the seller
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Convenience
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All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use
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Retailing
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Selling brand-name merchandise at lower than regular prices
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Off-price retailing
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Combination of one or more of the communication tools used to inform, persuade, or remind prospective buyers
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promotional mix
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Process of conveying a message to others
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communication
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Most important step in the Channel of Communication process
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Response/Feedback loop
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The process of having the sender transform an idea into a set of symbols
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Encoding
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A short-term offer designed to arouse interest in buying a good or service
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Sales promotion
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Informing consumers in an effort to increase their level of awareness
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Intro Stage of Product Life Cycle
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Persuade the consumer to buy the product
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Growth Stage of Product Life Cycle
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maintain existing buyers; sales promotion, in the form of discounts, coupons, and events, is important in maintaining loyal buyers
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Maturity Stage of Product Life Cycle
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Period of phase-out for the product
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Decline Stage of Product Life Cycle
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Directing the promotional mix to channel members to encourage them to order & stock a product
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Push Strategy
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Directing the promotional mix at ultimate consumers to encourage them to ask the retailer for the product
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Pull Strategy
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