Mktg Final Exam

Front 1

consumer sales promotion

Back 1

sales and promo activities targeting ultimate consumer

Front 2

trade sales promo

Back 2

promo activities targeting a marketing channel member
->wholesales, retailers

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coupon

Back 3

certificate that entitles consumers to an immediate price reduction when they buy a product

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rebate

Back 4

cash refund given for the purchase of a product during a specific period

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premium

Back 5

an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product

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loyalty mktg program

Back 6

promo program designed to build long-term, mutually beneficial relationships between a company and its key customers

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frequent buyer program

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a promo program tin which loyal consumers are rewarded for making multiple purchases of a particular G/S

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sampling

Back 8

promo program allows consumer the opportunity to try a G/S for free

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point-of-purchase display (POP)

Back 9

promo display set up at the retailers location to build traffic, advertise the product, or induce impulse buying

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trade allowance

Back 10

price reduction offered by manufacturers to intermediaries such as wholesalers or retailers

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push money

Back 11

offered to a channel intermediary to encourage them to "push" products-- encourage other members of channel to sell products

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relationship selling (consultative selling)

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sales practice that involves building, maintaining and enhancing interactions with customers in order to develop long term satisfaction thru mutually beneficial partnerships

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sales process (sales cycle- 7 steps)

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1) generating leads
2) qualifying leads
3) approaching customer & probing leads
4) develop & propose solutions
5) handling objections
6) closing the sale
7) following up
7)

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lead generation (prospecting)

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identification of those firms and people most likely to buy sellers offerings

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referral

Back 15

recommendations to salesperson from a customer or business associate

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networking

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process of finding out about potential clients from friends, business contacts, coworkers, acquaintances and fellow members in professional and civic orgs

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cold calling

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form of lead generation in which salesperson approaches potential buyers without any prior knowledge of the prospects needs or financial status

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lead qualification

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determination of a sales prospects (1) recognized need, (2) buying power and, (3) receptivity and accessibilty

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preapproach

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describes the "homework" that must be done before he contacts a prospect

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needs assessment

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determination of customers specific needs and wants and the range of options the customer has for satisfying them

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sales proposal

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formal written document or professional presentation that outlines how the salespersons product/service will meet/exceed prospects needs

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sales presentation

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formal meeting in which the salesperson presents a sales proposal to a prospective buyer

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negotiation

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process during which both the salesperson and prospect offer special concessions in an attempt to arrive at a sales agreement

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follow up

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final step of selling process
1) sales person ensures that delivery schedules are met, that the Gs/Ss perform as promised, and that the buyers employees are properly trained to use the products

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sales promotion

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consists of marketing communication activities--other than PR, ads, and personal selling--in which short term incentive motivates consumers of distrib channel to purchase the G/S immediately**, by lowering price or adding value

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main objectives of sales promo

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1) increase trial purchases
2) " consumer inventory
3) repeat purchase
4) encourage brand switching to build brand loyalty

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advantages of personal selling

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1) detailed explanation or demonstration
2) variable sales message
3) directed at qualified prospects
4) controllable adjustable selling costs
5) effects at obtaining sale and gaining customer satisfaction