Chapter 15 Flashcards
public relations
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance
publicity
public info about a company, product service or issue appearing in the mass media as a news item
product placement
a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the internet or at special events
sponsorship
a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image
cause related marketing
a type of sponsorship involving the association of a for profit company and a nonprofit organization; through the sponsorship, the company’s product or services is promoted, and money is raised for the nonprofit
crisis management
a coordinated effort to handle all the effects of unfavorable publicity or of another unexpected unfavorable event
sales promotion
marketing activities other than personal selling, advertising, and public relations that stimulate consumer buying and dealer effectiveness
consumer sales promotion
sales promotion activities targeting the ultimate consumer
trade sales promotion
sales promotion activities targeting a channel member, such as a wholesaler or retailer
coupon
a certificate that entitles consumers to an immediate price reduction when they buy the product
rebate
a cash refund given for the purchase of a product during a specific period
premium
an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product
loyalty marketing program
a promotional program designed to build long term, mutually beneficial relationships between a company and its key customers
frequent buyer program
a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service
sampling
a promotional program that allows the consumer the opportunity to try a product or service for free
point of purchase display
a promotional display set up at the retailer’s location to build traffic advertise the product, or induce impulse buying
trade allowance
a price reduction offered by manufacturers to intermediaries, such as wholesalers and retailers
push money
money offered to channel intermediaries to encourage them to push products that is, to encourage other members of the channel to sell the products
trade allowance
a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers
push money
money given for pushing a manufacturers brand
personal selling
a purchase situation involving a personal, paid for communication between two people in an attempt to influence each other
relationship selling(consultative selling)
a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long term satisfaction through mutually beneficial partnerships
sales process or sales cycle
The set of steps a salesperson goes through in a particular organization to sell a particular product or service.
- generating leads
- qualifying leads
- approaching the customer and probing needs
- developing and proposing solutions
- Handling objections
- Closing the sale
- Following up
lead generation(prospecting)
identification of those firms and people most likely to buy the seller’s offerings
networking
using friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations to identify potential clients
referral
a recommendation from a customer or business associate
lead qualification
determination of a sales prospect’s 1) recognized need, 2) buying power, and 3) receptivity and accessibility
preapproach
a process that describes the homework that must be done by a salesperson before he or she contacts a prospect
needs assessment
a determination of the customer’s specific needs and wants, and the range of options the customer has for satisfying them
sales proposal
a formal written document or professional presentation that outlines how the salesperson’s product or service will meet or exceed the prospect’s needs
sales presentation
a formal meeting in which he sales person presents a sales proposal to a prospective buyer
negotiation
the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement
follow up
the final step of the selling process, in which the salesperson ensures that delivery schedules are met, that the goods or services perform as promised, and the buyers’ employees are properly trained to use the products
