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25 Cards in this Set
- Front
- Back
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Retail Promotion
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Any communication by a retailer that informs, persuades, and/or reminds the target market about any aspect of that firm.
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Advertising
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Paid, nonpersonal communication transmitted through out-of-store mass media by an identified sponsor.
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Cooperative Advertising
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Occurs when manufacturers or wholesalers and their retailers, or two or more retailers, share the costs of retail advertising.
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Vertical Cooperative Advertising Agreement
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Enables a manufacturer and a retailer or a wholesaler and a retailer to share an ad.
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Horizontal Cooperative Advertising Agreement
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Enables two or more retailers (most often small, situated together, or franchisees of the same company) to share an ad.
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Public Relations
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Any communication that fosters a favorable image for the retailer among its publics (consumers, investors, government, channel members, employees, and the general public).
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Publicity
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-- Any nonpersonal form of public relations whereby messages are transmitted by mass media, the time or space provided by the media is not paid for, and there is no identified commercial sponsor.
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Personal Selling
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-- Oral communication with one or more prospective customers to make sales.
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Order-Taking Salesperson
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Engages in routine clerical and sales functions, such as setting up displays, placing inventory on shelves, answering simple questions, filling orders, and ringing up sales.
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Order-Getting Salesperson
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Actively involved with informing and persuading customers, and in closing sales. This is a true "sales" employee.
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PMs
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Promotional money, push money, or prize money that a manufacturer provides for retail salespeople selling that manufacturer's brand.
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Canned Sales Presentation
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Memorized, repetitive speech given to all customers interested in a particular item
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Need-Satisfaction Approach
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Sales technique based on the principle that each customer has a different set of wants; thus, a sales presentation should be geared to the demands of the individual customer.
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Sales Promotion
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Encompasses the paid communication activities other than advertising, public relations, and personal selling that stimulate consumer purchases and dealer effectiveness.
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Word of Mouth (WOM)
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Occurs when one consumer talks to others.
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All-You-Can-Afford Method
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Promotional budgeting procedure in which a retailer first allots funds for each element of the strategy mix except promotion. The funds that are left go to the promotional budget.
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Incremental Method
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Promotional budgeting procedure by which a percentage is either added to or subtracted from one year's budget to determine the next year's.
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Competitive Parity Method
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Promotional budgeting procedure by which a retailer's budget is raised or lowered based competitors' actions.
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Percentage-of-Sales Method
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-- Promotional budgeting method in which a retailer ties its budget to revenue.
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Objective-and-Task Method
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Promotional budgeting procedure by which a retailer clearly defines its promotional goals and prepares a budget to satisfy them.
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Hierarchy of Effects
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Sequence of steps a consumer goes through in reacting to retail communications, which leads him or her from awareness to knowledge to liking to preference to conviction to purchase.
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Reach
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Number of distinct people exposed to a retailer's promotional efforts during a specified period.
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Frequency
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Average number of times each person who is reached by a message is exposed to a retailer's promotion efforts in a specific period.
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Massed Promotion Effort
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-- Used by retailers that promote mostly in one or two seasons
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Distributed Promotion Effort
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Used by retailers that promote throughout the year.
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