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40 Cards in this Set
- Front
- Back
Encourage consumers to buy a specific product
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Coupons strive to achieve what objectives?
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7 General Steps of the Personal Selling Process
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- Prospecting
- Preapproach - Approach - Making the Presentation - Overcoming Objections - Closing the sale - Following up |
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prospecting
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Developing a list of potential customers.
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preapproach
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Before contacting prospects:
- Identify key decision makers - Review account histories and problems - Contact other clients for information - Assess credit histories and problems - Prepare sales presentations - Identify product needs - Obtain relevant literature |
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approach
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The manner in which a salesperson contacts a potential customer.
Kinds of ____ - Referral - Cold Canvassing - Repeat Contact |
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Making the presentation
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- Must attract and hold the prospect’s attention
- Stimulate interest in and spark a desire for the product. - Use influencing tactics matched to prospects: 1) Information exchange 2) Recommendations 3) Threats 4) Promises, ingratiation and inspirational appeals |
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Overcoming Objectives
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- Anticipate and counter them before the prospect raises them
- Handle them as they arise |
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Closing the sale
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The stage in the personal selling process when the salesperson asks the prospect to buy the product.
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following up
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The stage in the personal selling process where the salesperson determines whether the order was delivered on time and installed properly, if installation was required, or the customer has any problems or questions.
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rebate
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A sales promotion technique in which a consumer receives a specified amount of money for making a single product purchase.
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premium
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At item offered free or at a minimal cost as a bonus for purchasing a product.
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sweepstakes
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A sales promotion in which entrants submit their names for inclusion in a drawing for prizes.
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free sample
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A sample of a product given out to encourage trial and purchase.
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money refund
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A sales promotion technique that offers consumers a specified amount of money when they mail in a proof of purchase, usually for multiple product purchases.
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What & how is cooperative advertising used?
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An arrangement in which a manufacturer agrees to pay a certain amount of a retailer's media costs for advertising the manufacturer's product.
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straight salary compensation
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Plan paying salespeople a specific amount per time period, regardless of selling effort.
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straight commission compensation
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Plan playing salespeople according to the amount of their sales in a given time period.
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combination compensation
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Plan paying salespeople a fixed salary plus a commission based on sales volume.
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Motivate distributors, retailers, and sales personnel by recognizing outstanding achievements.
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The purpose of the sales contest is designed to motivate who?
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Elastic demand
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A change of price results causes an opposite change in total revenue: an increase in price will decrease total revenue.
ex: buying a vehicle |
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Inelastic demand
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Results in a change in the same direction as a total revenue: an increase in the price will increase total revenue.
ex: buying electricity |
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Demand curve
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A graph of the quantity of products expected to be sold at various prices if other factors remain constant.
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Break-even point
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The point at which the costs of producing a product equal the revenue made from selling the product.
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price
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The value paid for a product in a marketing exchange.
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price competition
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Emphasizing price as an issue and matching or beating competitor's prices.
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nonprice competition
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Emphasizing factors other than price to distinguish a product from competing brands.
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internal reference price
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A price developed in the buyer's mind through experience with the product.
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external reference price
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A comparison price provided by others.
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value conscious
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Concerned about a price and quality of a product.
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price conscious
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Striving to pay low prices.
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prestige sensitive
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Drawn to products that signify prominence and status.
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purpose of temporary price cut
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- To gain market share
- Use sales, rebates, and special discounts to raise cash quickly. |
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corporate (organizational) culture
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A set of values, beliefs, goals, norms, and rituals that members of an organization share.
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strategic philanthropy
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The synergistic use of organizational core competencies and resources to address key stakeholders' interest and achieve both organizational and social benefits.
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green marketing
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The specific development, pricing, promotion, and distribution of products that do not harm the natural environment.
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cause-related marketing
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The practice of linking products to a particular social cause on an ongoing or short term basis.
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social responsibility
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An organization's obligation to maximize its positive impact and minimize its negative impact on society.
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marketing ethics
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Principles and standards that define acceptable marketing conduct as determined by various stakeholders.
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consumerism
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Organized efforts by individuals, groups, and or organizations to protect consumers' rights.
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For the following electrolytes and conditions, say whether there is an increase or decrease in chronic kidney disease
1) Volume 2) K+ 3) Mg2+ 4) Phosphate 5) Acid/Base Disorder 6) Vitamin D 7) PTH 8) EPO 9) Hemoglobin |
1) Volume = overloaded volume due to protein loss that causes a decrease in ONCOTIC Pressure
2) K+ = HYPER b/c more aldosterone 3) Mg2+ = at the TAL, Na/K/2Cl is NOT working so there is a high potential gradient that pushes both Mg and Ca2+ back in 4) Phosphate = hyperphosphatemia (not really sure why. Maybe cause it's never being filtered so you can't excrete it?) 5) Acid/Base Disorder = not filtering so you can't reabsorb HCO3- or secrete H+ so METABOLIC ACIDOSIS 6) Vitamin D = levels go down. Page 289 First Aid. -High phosphate levels would negatively feedback Vitamin D levels. When Vitamin D levels are low, then HYPOcalcemic, so increase PTH secretion (how you get hyperparathyroidism). 7) PTH = up 8) EPO = down b/c kidney failing 9) Hemoglobin = low b/c no EPO |