Chapter 15 Flashcards

1
Q

public relations

A

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

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2
Q

publicity

A

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

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3
Q

product placement

A

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

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4
Q

sponsorship

A

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

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5
Q

cause related marketing

A

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

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6
Q

crisis management

A

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

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7
Q

sales promotion

A

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

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8
Q

consumer sales promotion

A

sales promotion activities targeting the ultimate consumer

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9
Q

trade sales promotion

A

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

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10
Q

coupon

A

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

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11
Q

rebate

A

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

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12
Q

premium

A

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

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13
Q

loyalty marketing program

A

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

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14
Q

frequent buyer program

A

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

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15
Q

sampling

A

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

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16
Q

point of purchase display

A

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

17
Q

trade allowance

A

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

18
Q

push money

A

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

19
Q

trade allowance

A

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

20
Q

push money

A

money given for pushing a manufacturers brand

21
Q

personal selling

A

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

22
Q

relationship selling(consultative selling)

A

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

23
Q

sales process or sales cycle

A

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
24
Q

lead generation(prospecting)

A

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

25
Q

networking

A

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

26
Q

referral

A

a recommendation from a customer or business associate

27
Q

lead qualification

A

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

28
Q

preapproach

A

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

29
Q

needs assessment

A

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

30
Q

sales proposal

A

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

31
Q

sales presentation

A

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

32
Q

negotiation

A

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

33
Q

follow up

A

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