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Management > Chapter 17 Packet Notes > Flashcards

Chapter 17 Packet Notes Flashcards

1
Q

Marketing communications that inform and persuade consumers.

  • Personal selling
  • Advertising
  • Sales promotional tools
A

Marketing Communications: Getting the Message Across

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2
Q
  • Source
  • Message
  • Channel
  • Receiver
A

Communication Process Components

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3
Q

The message sender.

A

Source

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4
Q

The content being sent.

A

Message

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5
Q

The path the message travels.

A

Channel

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6
Q

The recipient of the message.

A

Receiver

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7
Q
  • Nonpersonal advertising- advertising
  • Personal- personal selling
  • Special forms- sales promotion
A

Forms of Promotional Communication

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8
Q

A blend of nonpersonal, personal, and special forms for communication techniques aimed at a target market.

A

Promotional Mix

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9
Q
  • Geographical nature of target market
  • Size of promotional budget
  • Product’s characteristics
A

Makeup of the Promotional Mix is Determined by:

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10
Q
  • Allocating a percentage of sales.
  • Deciding how much can be spared.
  • Spending as much as the competition.
  • Determining what it takes to do the job.
A

How Much Should a Small Business Spend on Promotion?

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11
Q
  • WTDJ: What it takes to do the job
  • APS: A Percentage of sales
  • WCS: What can be spared
  • ACS: As much as the competition spends
A

Key Terms

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12
Q

A sales presentation (promotion) delivered in a one-on-one manner.

A

Personal Selling

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13
Q
  • Product knowledge
  • Well-prepared sales presentation
  • Ability to build good will
A

Personal Selling Requires:

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14
Q
  • Successfully educate customers about the product’s advantages, uses, and limitations.
  • Answer customer questions and counter customer objections.
A

Salespersons use Product Knowlege to:

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15
Q

Personal selling becomes order-taking when a salesperson lacks ____ ______.

A

Product Knowledge

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16
Q

A systematic process of continually looking for new customers.

A

Prospecting

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17
Q
  • Personal referrals
  • Impersonal referrals
  • Marketer-initiated contacts
  • Customer-initiated contacts
A

Prospecting Techniques

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18
Q

Salesperson initiates customer contact through referral by another party known to the customer.

A

Personal Referrals

19
Q

Information on potential new customers developed from public records and published sources.

A

Impersonal Referrals

20
Q

Market surveys are used to identify prospects.

A

Marketer-Initiated Contacts

21
Q

Potential customers are identified through their contacts with the firm.

A

Customer-Initiated Contacts

22
Q
  • Nonfinancial rewards
  • Financial rewards
A

Compensation for Salespeople

23
Q
  • Personal recognition of employees by the firm.
    • Plaques and “Employee of the Month” awards
    • Providing “perks” to superior performers
  • Personal satisfaction drawn by salespersons from doing their work well.
A

Nonfinancial Rewards

24
Q
  • Commissions
  • Straight salary
  • Combination of commissions and salary
A

Financial Rewards

25
Q
  • Compensation paid as precentage of sales productivity.
  • Strong sales motivator
A

Commissions

26
Q

Compensation paid regardless of sales made.

A

Straight Salary

27
Q

Balance of two compensation forms is adjusted to provide an increasing proportion of commission as salesperson gains experience.

A

Combination of Commissions and Salary

28
Q

The impersonal presentation of a business idea through mass media.

A

Advertising

29
Q
  • To sell by informing, persuading, and reminding.
  • To serve as complement to product quality and efficient service.
  • To properly reflect changes in customer needs and preferences.
A

Advertising Objectives

30
Q
  1. Product advertising
  2. Institutional advertising
A

Two Basic Types of Advertising

31
Q

The presentation of a business idea designed to make potential customers aware of a specific product or service and create a desire for it.

A

Product Advertising

32
Q

The presentation fo information about a particular firm, designed to enhance the firm’s image.

A

Institutional Advertising

33
Q
  • Frequency of advertising
  • Where to advertise
A

Advertising Decision Factors

34
Q

With regularity for effectiveness and continuity.

  • Introduction of new uses for established products.
  • Introduction of new products and services.
A

Frequency of Advertising

35
Q

Appropriate media mix determined by:

  • Geographical area for target market coverage
  • Customer type targeted by advertising campaign
  • Advertising media customarily used by industry
  • Type of business
  • Advertising on the World Wide Web (Internet)
A

Where to Advertise

36
Q
  • Sales promotion
  • Specialties
  • Trade show exhibits
  • Publicity
  • When to use sales promotion
A

Sales Promotional Tools

37
Q

An inclusive term for any promotional techniques that are neither personal selling or advertising.

  • Used in combination with personal selling and advertising.
A

Sales Promotion

38
Q

Tangible and enduring functional items of worth distributed personally to recipients that serve as reminders of the firm.

  • Pens, key chains, magnets, and clothing imprinted with the name, logo, or slogan of hte firm.
A

Specialties

39
Q
  • Provide hands-on experience with products.
  • Are less costly than personal selling.
A

Trade Show Exhibits

40
Q

Information about a firm and its products or services that appears as a news item, usually free of charge.

  • Provides visibility for the firm
  • Requires regular contacts with the news media
A

Publicity

41
Q
  • For manufacturers
  • For wholesalers
  • For retailers
A

When to use Sales Promotion

42
Q

To stimulate channel members- retailers and wholesalers- to market a firm’s products.

A

For Manufacturers

43
Q

To induce retailers to buy inventories earlier than they normally would.

A

For Wholesalers

44
Q

To persuade customers to make a purchase.

A

For Retailers

Management (33 decks)

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