Chapter 10 Key Terms & Definitions Flashcards
Advertising
A paid, controlled message through a non-personal medium. Types of advertising include publicity, public relations, product placement, sponsorship, and sales promotion
Audio business card
A smaller version of a CD that allows the user to create their own audio business card
Bait and switch
Providing a consumer with an attractive offer to obtain him or her as a client but being unable to provide the product or service at the indicated price
Business card
A marketing tool that provides contact information, a logo, and other relevant information about the company, products and/or services of the company and/or the individual
Call script
A written document that outlines or scripts a telephone conversation, allowing the user to remain focused on the purpose and objectives of the call
Classified advertisement
A print advertisement placed in the Classified section of a newspaper
Cold call
A call made to a cold or potentially unfriendly new client or referral source who does not know the caller
Database marketing
Database Marketing is the function of warehousing potential and existing client information in an electronic medium that allows the user to assemble and list these clients in groups that can be marketed to
Flyer
A stand-alone marketing piece, usually on an 8.5 x 11 inch paper
Marketing
Presenting products or services to potential customers in a fashion that positively promotes the product or service and makes customers eager to buy or use the product or service
Mission statement
A mission statement is a plan for companies and people to accomplish the goals they set. It is designed to shape the company or individual’s identity and is typically based on a vision, goal, or ethics
Mortgage agent
An individual who is remunerated for trading in mortgages or dealing in mortgages in Ontario, as an employee or otherwise. Mortgage agents are restricted in their abilities by MBLAA and its Regulations and must be supervised by a licensed mortgage agent. Mortgage agents must be licensed.
Networking
Build or expanding one’s social network or sphere of influence by initiating mutually advantageous new relationships with people
Niche marketing
Marketing to a specific audience or target demographic
Referral
A client or customer who has been advised by a third party to use the product or service of another
Post-purchase cognitive dissonance
Commonly referred to as buyer’s remorse, this refers to the emotional state a buyer is in after completing what is typically a large purchase and who is no longer in an emotionally charged state
Pre-purchase research
The research done by a potential purchaser of a more expensive item. This may include online research as well as contacting past clients, calling service providers, etc.
Testimonial
An endorsement in writing, verbally or electronically by a client
Unaddressed admail
Bulk, unaddressed advertising that is delivered in bulk to a certain area by Canada Post
Video business card
A visual presentation of a sales person on CD
Vision statement
A vision statement is something that the business or mortgage agent aspires to become. It should illustrate the core belief of the business or mortgage agent and effectively communicate that to the reader
Warm call
A call made to a warm or potentially friendly new client or referral source who may know the caller or may have been referred to the client by a third party
