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Marketing Final Chapters 14-17 & 20
Terms in this set (37)
Promotion mix (marketing communications mix)
The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor
Personal presentation by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships
Building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events
Direct and digital marketing
Engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships
Creating, inspiring, and sharing brand messages and conversations with and among consumers across a fluid mix of paid, owned, earned, and shared channels
Integrated marketing communications (IMC)
Integrating and coordinating the company's many communications channels to deliver a clear, consistent, and competing message
The stages consumers normally pass through on their way to a purchase: awareness, knowledge, liking, preference, conviction, and purchase.
Personal communication channels
Channels through which two or more people communicate directly with each other
Personal communications about a product between target buyers and neighbors, friends, family, and associates
Nonpersonal communication channels
Media that carry messages without personal contact or feedback (events)
Setting the promotion budget to match competitors' outlays
Developing the promotion budget by 1) defining specific promotion objectives 2) determining the tasks needed to achieve these objectives and 3) estimating the costs of performing these tasks.
A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members who in turn promote it to final consumers.
A promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel.
Madison & Vine
A term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages.
Return on advertising investment
The net return on advertising investment divided by the costs of the advertising investment.
Territorial sales force structure
A sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line
Product sales force structure
A sales force organization in which salespeople specialize in selling only a portion of the company's products or lines
Customer (or market) sales force structure
A sales force organization in which salespeople specialize in selling only to certain customers or industries
Outside sales force (field sales force)
Salespeople who travel to call on customers in the field
Inside sales force
Salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from perspective buyers
Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts
A standard that states the amount a salesperson should sell and how sales should be divided among the company's products
Using online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance
The steps that salespeople follow when selling: prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up
Short-term incentives to encourage the purchase or sale of a product or a service
Sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customer relationships
Sales promotion tools used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising
Sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople
Marketing both through stores and other traditional offline channels and through digital, online, social media, and mobile channels
The digital version of word-of-mouth marketing: videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends
A company should view and organize its marketing activities from the consumer's point of view
Customer value marketing
A company should put most of its resources into customer value-building marketing investments
A company should seek real product and marketing improvements
A company should define its mission in broad social terms rather than narrow product terms
A company should make marketing decisions by considering consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.
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