Chapter 15

Question 1

public relations

Answer 1

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

Question 2

publicity

Answer 2

public info about a company, product service or issue appearing in the mass media as a news item

Question 3

product placement

Answer 3

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

Question 4

sponsorship

Answer 4

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

Question 5

cause related marketing

Answer 5

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

Question 6

crisis management

Answer 6

a coordinated effort to handle all the effects of unfavorable publicity or of another unexpected unfavorable event

Question 7

sales promotion

Answer 7

marketing activities other than personal selling, advertising, and public relations that stimulate consumer buying and dealer effectiveness

Question 8

consumer sales promotion

Answer 8

sales promotion activities targeting the ultimate consumer

Question 9

trade sales promotion

Answer 9

sales promotion activities targeting a channel member, such as a wholesaler or retailer

Question 10

coupon

Answer 10

a certificate that entitles consumers to an immediate price reduction when they buy the product

Question 11

rebate

Answer 11

a cash refund given for the purchase of a product during a specific period

Question 12

premium

Answer 12

an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product

Question 13

loyalty marketing program

Answer 13

a promotional program designed to build long term, mutually beneficial relationships between a company and its key customers

Question 14

frequent buyer program

Answer 14

a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service

Question 15

sampling

Answer 15

a promotional program that allows the consumer the opportunity to try a product or service for free

Question 16

point of purchase display

Answer 16

a promotional display set up at the retailer’s location to build traffic advertise the product, or induce impulse buying

Question 17

trade allowance

Answer 17

a price reduction offered by manufacturers to intermediaries, such as wholesalers and retailers

Question 18

push money

Answer 18

money offered to channel intermediaries to encourage them to push products that is, to encourage other members of the channel to sell the products

Question 19

trade allowance

Answer 19

a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers

Question 20

push money

Answer 20

money given for pushing a manufacturers brand

Question 21

personal selling

Answer 21

a purchase situation involving a personal, paid for communication between two people in an attempt to influence each other

Question 22

relationship selling(consultative selling)

Answer 22

a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long term satisfaction through mutually beneficial partnerships

Question 23

sales process or sales cycle

Answer 23

The set of steps a salesperson goes through in a particular organization to sell a particular product or service.

1. generating leads
2. qualifying leads
3. approaching the customer and probing needs
4. developing and proposing solutions
5. Handling objections
6. Closing the sale
7. Following up

Question 24

lead generation(prospecting)

Answer 24

identification of those firms and people most likely to buy the seller’s offerings

Question 25

networking

Answer 25

using friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations to identify potential clients

Question 26

referral

Answer 26

a recommendation from a customer or business associate

Question 27

lead qualification

Answer 27

determination of a sales prospect’s 1) recognized need, 2) buying power, and 3) receptivity and accessibility

Question 28

preapproach

Answer 28

a process that describes the homework that must be done by a salesperson before he or she contacts a prospect

Question 29

needs assessment

Answer 29

a determination of the customer’s specific needs and wants, and the range of options the customer has for satisfying them

Question 30

sales proposal

Answer 30

a formal written document or professional presentation that outlines how the salesperson’s product or service will meet or exceed the prospect’s needs

Question 31

sales presentation

Answer 31

a formal meeting in which he sales person presents a sales proposal to a prospective buyer

Question 32

negotiation

Answer 32

the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement

Question 33

follow up

Answer 33

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