Study sets, textbooks, questions
Upgrade to remove ads
Terms in this set (34)
The function of informing, persuading, and influencing a purchase decision.
Messages designed to sell a particular good or service.
nonpersonal communication targeted at large numbers of potential buyers.
Innovative, low-cost marketing efforts designed to get consumers' attention in unusual ways.
A form of promotion where marketers pay placement fees to have their products featured in various media, from newspapers and magazines to television and movies.
A concept whereby marketers try to establish their products in the minds of customers by communicating to buyers the meaningful differences about the attributes price, quality, or use of a good or service.
Forms of selling such as advertising, sales promotion, direct marketing, and public relations.
Integrated marketing communications (IMC)
The coordination of all promotional activities- media advertising, direct mail, personal selling, sales promotion, and public relations- to produce a unified, customer-focused promotional strategy.
The combination of personal and non personal selling that marketers use to meet the needs of a firm's target customers and to effectively and efficiently communicate its message to them.
The most basic for of promotion: a direct person-to-person promotional presentation to a potential buyer.
Messages that promote concepts, ideas, or philosophies. It can also promote goodwill toward industries, companies, organizations, or government entities.
A pricing method that uses uneven amounts to make prices appear to be less than they really are.
A strategy that tries to reduce the emphasis on price competition by matching other firms' prices and by focusing their own marketing efforts on the product distribution, and promotional elements of the marketing mix.
Everyday low pricing (EDLP)
A strategy of maintaining continuous low prices instead of using short-term price-cutting tactics such as cents-off coupons, rebates, and special sales.
A strategy that sets an intentionally high price relative to the prices of competing products.
Penetration pricing: A strategy that sets a low price as a major marketing tactic.
A form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the political process.
The pricing-related technique used to calculate the minimum sales volume a product must generate at a certain price level to cover all costs.
Calculating total costs per unit and then adding markups to over overhead costs and generate profits.
Setting a relatively high price to develop and maintain an image of quality exclusiveness.
Pricing decisions that are based on market share, the percentage of a market controlled by a certain company or product.
Common goals that are included in the strategic plans of most firms
Forms of such as coupons, product samples, and rebates that support advertising and personal selling.
Promotion of a product by generating consumer demand for it, mainly through advertising and sales promotion appeals.
Allowances that marketers provide to share with channel partners the cost of local advertising of their firm's product or product line.
Personal selling to market an item to wholesalers and retailers in a company's distribution channels.
The nonpersonal stimulation of demand for a good, service, place, idea, event, person, or organization by unpaid placement of information in print or broadcast media.
An organization's communications and relationships with its various public audiences.
Promotional items that prominently display a firm's logo or business slogan.
Personal selling by telephone, which provides marketers with a high return on their expenses, an immediate response, and an opportunity for a personalized two-way conversation.
An indirect form of selling where the representative promotes goodwill for a company or provides technical or operational assistance to the customer.
A persuasive type of promotional presentation
A form of selling used mostly at the wholesale and retail levels; involves identifying customer needs, pointing out products that meet those needs, and completing orders.
Sales promotion geared to marketing intermediaries, not to final consumers.
Point-of-purchase (POP) advertising
Displays or demonstrations that promote products when and where consumers buy them, such as in retail stores.
Sets with similar terms
Introduction to Business - Chapter 13
business vocab chapter 13
WGU C201 Chapter 13 Vocab
Other sets by this creator
Self and Identity
Conducting Psychology Research
Research Methods in Social Psychology
Other Quizlet sets
Cost Control Chapter & - 9
MGT Chapter 13
chapter 2 micro