Chapter 6 - Small Business Promotion Flashcards
What is an impressoin?
what it is called when someone notices a promotional effort.
What is a sales lead?
people who receive a promotional impression and who give some thought to buying the product.
What is a prospect?
Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase.
What is a marketing funnel?
The rule of thumb in marketing is that it takes a large number of people to be made aware of your product in order to find a purchaser.
What is a value proposition?
Small business owners’ unique selling points that will be used to differentiate their products and/or services from those of the competition.
What is word-of-mouth?
A means of spreading information about your business through the comments friends and customers make to other potential customers.
What is segmentation?
The process of dividing the market into smaller portions of people who have common characteristics.
What is a target market?
The segment or segments selected for concentrated marketing efforts.
What is a predetermined market segment?
professionally compiled target audiences based on shared demographic, financial, shopping and psychographic characteristics.
What is a succinct message?
Your key point in as few and as memorable words as possible.
What is a promotional mix?
How much of each message conveyance you will use to sell your product as well as your objective in using each one.
What is advertising?
Advertising is often used to support the corporate identity and value propositions that are established through public relations efforts. Part of conveying your message to your customers, advertising outlets include newspapers, magazines, billboards, television, and internet banner ads, to name a few.
What is a domain name?
The specific name of a internet site, consisting of a name followed by .com, .met, or a similar code.
What is SEO?
techniques applied to web pages in order to obtain favorable placement on internet search page results.
What are keywords and description tags?
Terms included in the hidden portion of a web page called the document head which are used by search engines such as yahoo and google to describe your website and evaluate its focus and category placement.
What is viral marketing?
Any electronic equivalent of word of mouth advertising in which the advertisers message spreads quickly and widely via e-mail, website, blogs, and other online tools.
What is free ink?
mentions of your company or products in the media for which your firm did not pay.
What is a sales promotion?
A form of communication that encourages the customer to act immediately, such as coupons, sales or contests.
What are press relations?
activities used to establish and promote a favorable opinion by the media.
What is a press release?
A written announcement intended to draw news media attention to a specific event.
What is a press kit?
A type of sales kit sent to media outlets which is focused around a press release.
What is trendiness?
a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.
What is proximity?
A concept in public recognition which alludes to the impact level of the issue being discussed.
What is personal selling?
the process of selling your products and service; includes prospect and evaluate, prepare, present, close, and follow-up
What is cognitive dissonance?
doubt that occurs after a purchase has been made. An inconsistency between experience and belief.
What is market penetration?
a strategy whose goal is growth based on selling more of the firm’s product or service to the existing customer base.
What is product expansion?
selling existing cusomers a product or service they have never bought before.
What is market expansion?
selling in areas or to groups previously not served by the business.
What is diversification?
adding new products or services to the firm’s existing collection of offerings.
