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64 Cards in this Set
- Front
- Back
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recognition
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means knowing who your customers are.
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relationships
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means keeping in contact with them over time.
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rewards
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make relationships more valuable in consumers' minds.
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data warehouse
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holds all of the customer data.
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geocoding
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the process of adding geographic codes to each customer record so that customer addresses can be plotted on a map.
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lifetime value
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a figure that represents the profit revenue of a customer throughout the lifetime of a relationship.
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RFM analysis
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RFM refers to the use of the terms recency, frequency, and monetary, which are used to predict customer behaviors.
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data mining
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the program used to develop a profile of the company's best customers. (1) building profiles of customer segments, (2) preparing models that predict future purchase behaviors based on past purchases.
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trawling
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the process of searching the database for a specific piece of information for marketing purposes.
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permission marketing
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a program in which promotional information is only sent to consumers who give the company permission to do so.
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empowerment
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means consumers believe they have power throughout the relationship and not just at the beginning when they agreed to join the program.
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reciprocity
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a sense of obligation toward the company.
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frequency program (loyalty program)
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when a company offers free merchandise or services for a series of purchases; encourages customers to make repeat purchases.
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Goals of Frequency Programs
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- Develop customer loyalty
-Matching or preempting the competition. - Higher income individuals tend to join loyalty or frequency programs |
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customer relationship management
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companies use databases to customize products and communications to customers that would result in higher sales and profits.
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share of customer
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refers to the percentage of expenditures a customer makes with one particular firm compared to total expenditures in that product's category.
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direct response marketing
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vending products to customers without the use of other channel members.
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response list
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consists of customers who have made purchases or responded to direct mail offers in the past.
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compiled list
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provides information about consumers who meet a specific demographic profile.
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digital direct to press
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a software program that instructs the computer to send a tailor-made message.
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package insert programs (PIPs)
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are materials placed in order fullfillment packages, such as when a record club includes direct response order forms for jewelery, customized checks, or CD players in a package of CDs or tapes.
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ride-alongs
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materials that are placed with another company's catalog or direct-mail piece such as the additional marketing materials packaged with a record club's catalog.
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statement stuffers
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direct mail offers placed inside of a statement, or bill.
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card pack
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a deck of 20-50 business reply cards placed in a plastic pack.
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sales promotions
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consist of all of the incentives offered to customers and channel members to encourage product purchases.
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consumer promotions
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are the incentives that are directly offered to a firm's customers or potential customers.
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trade promotions
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consist of the expenditures or incentives used by manufacturers and other members of the marketing channel to purchase goods for eventual sale.
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franchise-building promotions
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designed to increase awareness of and loyalty to a brand. (premiums, contests, sweepstakes, sampling, and bonus packs)
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sales-building promotions
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focus on immediate sales, rather than brand equity or loyalty, through discounts, prizes, or other enticements.
(coupons, refunds, rebates, price-offs) |
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freestanding inserts (FSIs)
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sheets of coupons distributed in newspapers, primarily on Sundays.
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cross-ruffing
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the placement of two promotional materials together. (a coupon for french onion dip placed on a package of potato chips)
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premiums
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prizes, gifts, or other special offers consumers receive when purchasing products.
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promotion-prone consumers
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regularly respond to coupons, price-off plans, and premiums, which means they are not brand loyal and primarily purchase on-deal items.
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brand loyal consumer
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purchases only one particular brand and does not substitute, regardless of any deal being offered.
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price-sensitive consumer
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price remains the primary, if not only, criterion used in making a purchase decision.
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trade promotions
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incentives members of the trade channel use to entice another member to purchase goods for eventual resale.
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trade allowance
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provide financial incentives to other channel members to motivate them to make purchases
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slotting fees
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funds charged by retailers to stock new products.
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exit fees
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monies paid to remove an item from a retailer's inventory.
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spiff money
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rewards given as contest prizes to brokers, retail salespeople, retail stores, wholesalers, or agents.
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public relations department
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a unit in the firm that manages publicity and other communications with every group that is in contact with the company.
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hit
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the mention of a company's name in a news story.
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social responsibility
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the obligation an organization has to be ethical, accountable, and reactive to the needs of society.
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cause-related marketing
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a program whereby a firm ties a marketing program to a charity in order to generate goodwill.
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green marketing
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the development and promotion of products that are environmentally safe.
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damage control
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reacting to negative events caused by a company error, consumer grievances, or unjustified or exaggerated negative press.
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cross promotion
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a marketing event that ties together companies and activities around a specific theme.
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message evaluation techniques
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examine the message and the physical design of the advertisement, coupon, or direct marketing piece.
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respondent behavior evaluations
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address visible customer actions, including store visits, inquiries, or actual purchases.
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concept testing
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examines the proposed content of an advertisement and the impact that content may have on potential customers.
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copytests
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designed to elicit responses to the main message of the ad as well as the format used to present the message.
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portfolio test
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a display of a set of print ads, one of which is the ad being evaluated.
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theater test
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a display of a set of television ads, including the one being evaluated.
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mall intercept technique
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this approach involves stopping shoppers.
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recall test
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involves asking an individual to recall what ads he or she viewed in a given setting or time period.
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day-after recall (DAR) test
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most common and often used to evaluate TV ads.
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unaided recall
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the subjects are asked to name or recall the ads they saw or heard the previous evening without being given any prompts or memory jogs.
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aided recall
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consumers are prompted by being told the product category
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recognition test
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a format in which individuals are given copies of an ad and asked if they recognize it or have seen it before.
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warmth monitor
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an alternative method developed to measure emotions. (joystick)
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psychogalvanometer
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measures a person's perspiration levels.
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pupillometric meter
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measures the dilation of a person's pupil
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psychophysiology
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brain image measurement processes.
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positioning advertising copytesting
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created to evaluate television ads.
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