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MK360 Ch.19 & 20 Quiz
Terms in this set (11)
Different aspects/types of advertising and when you should use each one in a product life cycle
Pull strategy- goal is to get consumers to pull the product theough the marketing channel by demanding it.
Push stratgey- designed to increase demand by motivating sellers to highlight the product, rather than the product of consumers.
Informative adveritising- used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.
Persuasive advertising- used to motivate consumers to take action. Generally occurs in the growth and early maturity stages of the product life cycle.
Reminder advertising- communication used to remind or prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage.
The steps taken in an advertising campaign
Identify the target audience
Set the advertising objectives
Determine the advertising budget
Convey the message
Evaluate and select media
What a unique selling proposition is
A strategy of differentiating a product by communicating its unique attributes; often becomes the common theme or slogan in the entire advertising campaign.
Assessments that monitor key indicators, such as daily or weekly sales volume, while the advertisement is running to shed light on any problems with the message or the medium.
efforts of two or more firms joining together to reach a specific target market
What public relations is and how it differs from sales promotions, personal selling, and advertising
The organizational function that manages the firms communications to achieve a variety of objectives, including building and maintaining a positive image, handling or heading off unfavorable stories or events, and maintaining positive relationships with the media.
Examples of different types of Sales promotions
Coupons, deals, premiums, contests, sweepstakes, samples, loyalty programs, point of purchase displays, rebates, product placement,
What the benefit of a trade show is
Major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry.
The different stages of personal selling and what each involves or requires
1. Generate and qualify leads- list your potential customers and assess their potential.
2. Preapproach and the use of CRM systems- preapproach occurs prior to meeting the customer for the first time. In this step, the salesperson must conduct additional research and develop plans for meeting with the consumer.
3. Sales presentation and overcoming reservations- once all the background information has been obtained and the objectives for the meeting are set, the salesperson is ready for the person to person meeting.
4. Closing the sale- obtaning a commitment from the consumer to make a purchase.
5. Follow Up- offers a prime opportunity for a salesperson to solidify the consumer relationship through great service quality (reliability, responsiveness, assurance, empathy, and tangibles)
The goal of a sales presentation and what effective salespeople know to anticipate and handle
Good salespeople know the types of reservations buyers are likely to raise. They know to relax and listen; then ask questions to clarify any reservations.
How are salespeople usually compensated
Salary + commission + bonuses
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