Chapter 13 Marketing (FINAL REVIEW) Export Flashcards
What is event marketing?
Creating a brand-marketing event or serving as a sole or participating sponsor of events created by others
What are contests, sweepstakes, and games?
Give consumers the chance to win something
What are point-of-purchase (POP) promotions?
Displays and demonstrations that take place at the point of sale
What are advertising specialties?
Useful articles imprinted with an advertiser’s name, logo, or message that are given as gifts to consumers
What are premiums?
Goods offered either free or at low cost as an incentive to buy a product
What do price packs (cents-off deals) do?
Offers consumers savings off the regular price of a product
What are rebates (cash refunds)?
Price reduction occurs after the purchase. Customer sends proof of purchase to the manufacturer, which then refunds part of the purchase price by mail
What are coupons?
Certificates that save buyers money when they purchase specified products
What are samples?
Offers of a trial amount of a product. Most effective and expensive
What is the goal in relationship marketing?
To develop customer loyalty and retention over time
What is the goal in transaction-oriented marketing?
To make a sale or a deal as quickly and efficiently as possible
What are the steps in the selling process?
Prospect and Qualifying, Preapproach, Approach, Presentation and Demonstration, Handling Objections, Closing, Follow-Up
What does value selling require?
Listening to customers, understanding customers’ needs, coordinating the company’s efforts to create lasting relationships based on customer value
What are the functions of value selling?
Demonstrating and delivering superior customer value capturing a return on that value that is fair for both the customer and the company
What are the major steps in sales force management?
Designing sales strategy and structure, recruiting and selecting, training, compensating, supervising, evaluating
What functions are within sales force management?
Analyzing, planning, implementing, and controlling sales force activities
What is a salesperson?
Represents a company to customers by prospecting and communicating, selling and servicing, gathering information and building relationships
What is personal selling?
Personal presentations by a sales force to engage customers, make sales, and build customer relationships
