Chapter 6 - Small Business Promotion

Question 1

What is an impressoin?

Answer 1

what it is called when someone notices a promotional effort.

Question 2

What is a sales lead?

Answer 2

people who receive a promotional impression and who give some thought to buying the product.

Question 3

What is a prospect?

Answer 3

Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase.

Question 4

What is a marketing funnel?

Answer 4

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.

Question 5

What is a value proposition?

Answer 5

Small business owners’ unique selling points that will be used to differentiate their products and/or services from those of the competition.

Question 6

What is word-of-mouth?

Answer 6

A means of spreading information about your business through the comments friends and customers make to other potential customers.

Question 7

What is segmentation?

Answer 7

The process of dividing the market into smaller portions of people who have common characteristics.

Question 8

What is a target market?

Answer 8

The segment or segments selected for concentrated marketing efforts.

Question 9

What is a predetermined market segment?

Answer 9

professionally compiled target audiences based on shared demographic, financial, shopping and psychographic characteristics.

Question 10

What is a succinct message?

Answer 10

Your key point in as few and as memorable words as possible.

Question 11

What is a promotional mix?

Answer 11

How much of each message conveyance you will use to sell your product as well as your objective in using each one.

Question 12

What is advertising?

Answer 12

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.

Question 13

What is a domain name?

Answer 13

The specific name of a internet site, consisting of a name followed by .com, .met, or a similar code.

Question 14

What is SEO?

Answer 14

techniques applied to web pages in order to obtain favorable placement on internet search page results.

Question 15

What are keywords and description tags?

Answer 15

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.

Question 16

What is viral marketing?

Answer 16

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.

Question 17

What is free ink?

Answer 17

mentions of your company or products in the media for which your firm did not pay.

Question 18

What is a sales promotion?

Answer 18

A form of communication that encourages the customer to act immediately, such as coupons, sales or contests.

Question 19

What are press relations?

Answer 19

activities used to establish and promote a favorable opinion by the media.

Question 20

What is a press release?

Answer 20

A written announcement intended to draw news media attention to a specific event.

Question 21

What is a press kit?

Answer 21

A type of sales kit sent to media outlets which is focused around a press release.

Question 22

What is trendiness?

Answer 22

a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.

Question 23

What is proximity?

Answer 23

A concept in public recognition which alludes to the impact level of the issue being discussed.

Question 24

What is personal selling?

Answer 24

the process of selling your products and service; includes prospect and evaluate, prepare, present, close, and follow-up

Question 25

What is cognitive dissonance?

Answer 25

doubt that occurs after a purchase has been made. An inconsistency between experience and belief.

Question 26

What is market penetration?

Answer 26

a strategy whose goal is growth based on selling more of the firm’s product or service to the existing customer base.

Question 27

What is product expansion?

Answer 27

selling existing cusomers a product or service they have never bought before.

Question 28

What is market expansion?

Answer 28

selling in areas or to groups previously not served by the business.

Question 29

What is diversification?

Answer 29

adding new products or services to the firm’s existing collection of offerings.