flashcard
1 / 135
Front
promotion
❮ prev
next ❯
1 / 135
Back
communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
❮ prev
next ❯
terms list
promotion
communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
promotional strategy
a plan for the optimal use of the elements of promotion: advertising, PR, personal selling, and sales promotion omotion: advertising,
competitive advantage
one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitiors
promotional mix
the combination of promotional tools--including advertising, PR, personal selling, and sales promotion--used to reach the target market and fulfill the organization's overall goals
advertising
impersonal, one-way mass communication about a product or organization that is paid for by a marketer
public relations
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance
publicity
public information about a company, product, service, or issue appearing in the mass media as a news item
sales promotion
marketing activities--other than personal selling, advertising, and public relations--that stimulate consumer buying and dealer effectiveness
personal selling
a purchase situation involving a personal paid-for communication between two people in an attempt to influence each other
communication
the process by which we exchange or share meanings through a common set of symbols
interpersonal communication
direct, face-to-face communication between two or more people
mass communication
the communication of a concept or message to large audiences
sender
the originator of the message in the communication process
encoding
the conversion of a sender's ideas and thoughts into a message, usually in the form of words or signs
channel
a medium of communication--such as a voice, radio, or newspaper--for transmitting a message
noise
anything that interferes with, distorts, or slows down the transmission of information
receiver
the person who decodes a message
decoding
interpretation of the language and symbols sent by the source through a channel
feedback
the receiver's response to a message
corporate blogs
blogs that are sponsored by a company or one of its brands and maintained by one or more of the company's employees
noncorporate blogs
independent blogs that are not associated with the marketing efforts of any particular company or brand
AIDA concept
a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action
push strategy
a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise
pull strategy
a marketing strategy that stimulates consumer demand to obtain product distribution
integrated marketing communications (IMC)
the careful coordination of all promotional messages for a product or a service to assure the consistency of messages at every contact point where a company meets the consumer
advertising response function
a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns
institutional advertising
a form of advertising designed to enhance a company's image rather than promote a particular product
product advertising
a form of advertising that touts the benefits of a specific good or service
advocacy advertising
a form of advertising in which an organization expresses its views on controversial issues or responds to media attacks
pioneering advertising
a form of advertising designed to stimulate primary demand for a new product or product category
competitive advertising
a form of advertising designed to influence demand for a specific brand
comparative advertising
a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes
advertising campaign
a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals
advertising objective
a specific communication task that a campaign should accomplish for a specified target audience during a specified period
advertising appeal
a reason for a person to buy a product
unique selling proposition
a desirable, exclusive, and believable advertising appeal selected as the theme of a campaign
medium
the channel used to convey a message to a target market
media planning
the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience
cooperative advertising
an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's bran
infomercial
a 30-minute or longer advertisement that looks more like a TV talk show than a sales pitch
advergaming
placing advertising messages in web-based or video games to advertise or promote a product, service, organization, or issue
media mix
the combination of media to be used for a promotional campaign
cost per contact
the cost of reaching one member of the target market
reach
the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks
frequency
the number of times an individual is exposed to a given message during a specific period
audience selectivity
the ability of an advertising medium to reach a precisely defined market
media schedule
designation of the media, the specific publications of programs, and the insertion dates of advertising
continuous media schedule
a media scheduling strategy in which advertising is run steadly throughout the advertising period; used for products in the latter stages of the product life cycle
flighted media schedule
a media scheduling strategy in which ads are run heavily every other month or every two weeks, to achieve a greater impact with an increased frequency and reach at those times
pulsing media schedule
a media scheduling strategy that uses continuous scheduling throughout the year coupled with a flighted schedule during the best sales periods
seasonal media schedule
a media scheduling strategy that runs advertising only during times of te year when the product is most likely to be used
product placement
a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the internet; or at special events
sponsorship
a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image
cause-related marketing
a type of sponsorship involving the association of a for-profit company and a nonprofit organization; through the sponsorship, the company's product or service is promoted, and money is raised for the nonprofit
crisis management
a coordinated effort to handle all the effects of unfavorable publicity or of another unexpected unfavorable event
consumer sales promotion
sales promotion activities targeting the ultimate consumer
trade sales promotion
sales promotion activities targeting a marketing channel member, such as a wholesaler or retailer
coupon
a certificate that entitles consumers to an immediate price reduction when they buy the product
rebate
a cash refund given for the purchase of a product during a specific period
premium
an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product
loyalty marketing program
a promotional program designed to build long-term, mutually beneficial relationships between a company and its key customers
frequent buying program
a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service
sampling
a promotional program that allows the consumer the opportunity to try a product or service for free
point-of-purchase display
a promotional display set up at the retailer's location to build traffic, advertise the product, or induce impulse buying
trade allowances
a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers
push money
money offered to channel intermediaries to encourage them to "push" products--that is, to encourage other members of the channel to sell the products
relationship/consultative selling
a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships
sales process/cycle
the set of steps a salesperson goes through in a particular organization to sell a particular product or service
lead generation
identification of those firms and people most likely to buy the seller's offerings
referral
a recommendation to a salesperson from a customer or business associate
networking
a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations
cold calling
a form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status
lead qualification
determination of a sales prospect's (1) recognized need (2) buying power (3) receptivity and accessibility
preapproach
a process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect
needs assessment
a determination of the customer's specific needs and wants and the range of options the customer has for satisfying them
sales proposal
a formal written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs
sales presentation
a formal meeting in which the salesperson presents a sales proposal to a prospective buyer
negotiation
the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement
follow-up
the final step of the selling process, in which the salesperson ensures that delivery schedules are met, that the goods or services perform as promised, and that the buyers' employees are properly trained to use the products
retailing
all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use
independent retailers
retailers owned by a single person or partnership and not operated as part of a larger retail institution
chain stores
stores owned and operated as a group by a single organization
franchise
the right to operate a business or to sell a product
gross margin
the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
department store
a store housing several departments under one roof
buyer
a department head who selects the merchandise for his or her department and may also be responsible for promotion and personnel
specialty store
a retail store specializing in a given type of merchandise
supermarket
a large, departmentalized, self-service retailer that specializes in food and some nonfood items
scrambled merchandising
the tendency to offer a wide variety of nontraditional goods and services under one roof
drugstore
a retail store that stocks pharmacy-related products and services as its main draw
convenience store
a miniature supermarket, carrying only a limited line of high-turnover convenience goods
discount store
a retailer that competes on the basis of low prices, high turnover, and high volume
full-line discount store
a retailer that offers consumers very limited service, and carries a broad assortment of well-known, nationally branded "hard goods"
mass merchandising
a retailing strategy using moderate to low prices on large quantities of merchandise and lower level of service to stimulate high turnover of products
supercenter
a retail store that combines groceries and general merchandise goods with a wide range of services
specialty discount store
a retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover
category killers
specialty discount stores that heavily dominate their narrow merchandise segment
warehouse membership clubs
limited-service merchant wholesalers that sell a limited selection of brand-name appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups
off-price retailer
a retailer that sells at prices 25% or more below traditional department store prices because it pays casha for its stock and usually doesn't ask for return privileges
factory outlet
an off-price retailer that is owned and operated by a manufacturer
nonstore retailing
shopping without visiting a store
automatic vending
the use of machines to offer goods for sale
direct retailing
the selling of products by representatives who work door-to-door, office-to-office, or at home parties
direct marketing
techniques used to get consumers to make a purchase from their home, office, or another nonretail setting
telemarketing
the use of the telephone to sell directly to consumers
online retailing
a type of shopping available to consumers with personal computers and access to the internet
franchisor
the originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product
franchisee
an individual or business that is granted the right to sell another party's product
retailing mix
a combination of the six P's--product, place, promotion, price, presentation, personnel--to sell goods and services to the ultimate consumer
product offering
the mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix
atmosphere
the overall impression conveyed by a store's physical layout, decor, and surroundings
global marketing
marketing that targets markets throughout the world
global vision
recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets
multinational corporation
a company that is heavily engaged in international trade, beyond exporting and importing
capital-intensive
using more capital than labor in the production process
global marketing standardization
production of uniform products that can be sold the same way all over the world
Mercosur
the largest Latin American trade agreement; includes Argentina, Bolvia, Brazil, Chile, Columbia, Ecuador, Paraguay, Peru, and Uruguay
Uruguay Round
an agreement to dramatically lower trade barriers worldwide; created the World Trade Organization
World Trade Organization
a trade organization that replaced the old General Agreement on Tariffs and Trade
General Agreement on Tariffs and Trade
a trade agreement that contained loopholes that enabled countries to avoid trade-barrier reduction agreements
North American Free Trade Agreement
an agreement between Canada, the United States, and Mexico that created the world's largest free trade zone
European Union
a free trade zone encompassing 27 European countries
World Bank
an international bank that offers low-interest loans, advice, and information to developing nations
International Monetary Fund
an international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation
exporting
selling domestically produced products to buyers in another country
buyer for export
an intermediary in the global market that assumes all ownership risks and sells globally for its own account
export broker
an intermediary who plays the traditional broker's role by brining buyer and seller together
export agent
an intermediary who acts like a manufacturer's agent for the exporter; lives in the foreign market
licensing
the legal process whereby a licensor agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge
contract manufacturing
private-label manufacturing by a foreign company
joint venture
when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity
direct foreign investment
active ownership of a foreign company or of overseas manufacturing or marketing facilities
floating exchange rates
prices of different currencies move up and down based on the demand for and the supply of each country
dumping
the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter
countertrade
a form of trade in which all or part of the payment for goods or services is in the form of other goods or services
more from user
similars
MKT 495 Exam #4 Chapter 14
102 items
en en
Chapter 17 Vocabulary
28 items
en en
MARK 3321-UTA-Online-Exam 2(Ch7-10)
205 items
en en
MKTG 240 Brown Test 6
87 items
en en
likely
Test 3
54 items
en en
Genetics Midterm Three
36 items
en en
AP Psychology Module 44: The Psychoanalytic Perspective
49 items
en en
Chem problems 16 & 17
24 items
en en