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Principles of Marketing 15-21 > Chapters 19-21 > Flashcards

Chapters 19-21 Flashcards

1
Q

Paid personal communication that attempts to inform customers and persuade them to buy products in an exchange situation

A

*personal selling

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2
Q

Developing a database of potential customers

A

*Prospecting

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3
Q

The manner in which a salesperson contacts a potential customer

A

approach

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4
Q

The stage in the personal selling process when the salesperson asks the prospect to buy the product

A

*closing

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5
Q

Salespeople who sell to new customers and increase sale to current customers

A

order getters

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6
Q

Salespeople who primarily seek repeat sales

A

*order takers

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7
Q

Sales staff members who facilitate selling but usually are not involved solely with making sales

A

support personnel

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8
Q

Support salespeople, usually employed by a manufacturer who assist the producer’s customers in selling their own customers

A

missionary salespeople

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9
Q

Salespeople involved mainly in helping a prodder’s customers promote a product

A

trade salespeople

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10
Q

Support salespeople who give technical assistance to a firm’s current customers

A

Technical salespeople

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11
Q

The use of a team of experts from all functional areas of a firm, led by a salesperson, to conduct the personal selling process

A

Team selling

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12
Q

The building of mutually beneficial long-term associations with a customer through regular communications over prolonged periods of time

A

relationship selling

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13
Q

Developing a list of qualified applicants for sales positions

A

recruiting

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14
Q

Paying salesperson a specific amount per time period, regardless of selling effort

A

straight salary compensation plan

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15
Q

Paying salesperson according to the amount of their sales in a given time period

A

straight commission compensation plan

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16
Q

Paying salespeople a fixed salary plus a commission based on sales volume

A

combination compensation plan

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17
Q

An activity and/or material intended to induce resellers or salespeople to sell a product or consumers to buy it

A

sales promotion

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18
Q

Sales promotion techniques that encourage consumers to patronize specific stores or try particular products

A

consumer sales promotion

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19
Q

Written price reductions used to encourage consumers to buy a specific product

A

coupons

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20
Q

Promotions that allow buyers to pay less than the regular price to encourage purchase

A

cents-off offers

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21
Q

Sales promotion techniques that offer consumers a specified amount of money when they mail in a proof of purchase, usually for multiple product purchases

A

money refunds

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22
Q

Sales promotion techniques in which a consumer receives a specified amount of money for making a single product purchase

A

rebates

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23
Q

Signs, window displays, display racks, and similar devices used to attract customers

A

point-of-purchase (POP) materials

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24
Q

Sales promotion methods a manufacturer uses temporally to encourage trial use and purchase of a product or to show how a product works

A

demonstrations

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25
Q

Samples of a product given out to encourage trial and purchase

A

free samples

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26
Q

Items offered free or at a minimal cost as a bonus for purchasing a product

A

premiums

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27
Q

Sales promotion methods in which individuals compete for prizes based on their analytical or creative skills

A

consumer contests

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28
Q

Sales promotion methods in which individuals compete for prizes based primarily on chance

A

consumer games

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29
Q

A sales promotion in which entrants submit their names for inclusion in a drawing for prizes

A

consumer sweepstakes

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30
Q

Methods intended to persuade wholesalers and retailers to carry a producer’s products and market them aggressively

A

trade sales promotion methods

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31
Q

A temporary price reduction to resellers for purchasing specified quantities of a product

A

buying allowance

32
Q

A sum of money given to a reseller for each unit bought after an initial promotion deal is over

A

buy-back allowance

33
Q

A manufacturer’s reward to retailers based on the number of pieces

A

scan-back allowance

34
Q

A manufacturer’s agreement to pay resellers certain amounts of money for providing special promotional efforts, such as setting up and maintaing a display

A

merchandise allowance

35
Q

An arrangement in which a manufacturer agrees to pay a certain amount of a retailer’s media costs for advertising the manufacture’s products

A

cooperative advertising

36
Q

Advertisements that promote a product and identify the names of participating retailers that sell the product

A

dealer listings

37
Q

A manufacture’s reward given to resellers that purchase a stated quantity of products

A

free merchandise

38
Q

A gift, often part of a display, given to a retailer that purchases a specified quantity of merchandise

A

dealer loader

39
Q

Extra compensation to salespeople for pushing a line of goods

A

premium money (push money)

40
Q

A sales promotion method used to motivate distributors, retailers, and seas personnel through recognition of outstanding achievements

A

sales contest

41
Q

The value paid for a product in a marketing exchange

A

price

42
Q

The trading of products

A

barter

43
Q

Emphasizing price as an issue and matching or beating competitors’ prices

A

price competition

44
Q

Emphasizing factors other than price to distinguish a product from competing brands

A

*nonprice competition

45
Q

A graph of the quantity of products expected to be sold at various prices if other factors remain constant

A

demand curve

46
Q

A measure of the sensitivity of demand to changes in price

A

price elasticity of demand

47
Q

Costs that do not vary with changes in the number of units produced or sold

A

fixed costs

48
Q

The fixed cost per unit produced

A

average fixed cost

49
Q

Costs that vary directly with changes in the number of units produced or sold

A

variable cost

50
Q

The variable cost per unit produced

A

average variable cost

51
Q

The sum of average fixed and average variable costs times the quantity produced

A

total cost

52
Q

The sum of the average fixed cost and the average variable cost

A

average total cost

53
Q

The extra cost incurred by producing one more unit of a product

A

marginal cost (MC)

54
Q

The change in total revenue resulting from the sale of an additional unit of a product

A

marginal revenue (MR)

55
Q

The point at which the costs of producing a product equal he revenue made from selling the product

A

break-even point

56
Q

A price developed in the buyer’s mind through experience with the product

A

internal reference price

57
Q

A comparison price provided by others

A

external reference price

58
Q

Concerned about price and quality of a product

A

value conscious

59
Q

striving to pay low prices

A

price conscious

60
Q

Drawn to products that signify prominence and status

A

prestige sensitive

61
Q

Employing price differentials that injure competition by giving one or more buyers a competitive advantage

A

price discrimination

62
Q

A reduction off the list price a producer gives to an intermediary for performing certain functions

A

trade (functional) discount

63
Q

deductions from the list price for purchasing in large quantities

A

quality discounts

64
Q

Quantity discounts aggregated over a stated time period

A

cumulative discounts

65
Q

One-time price reductions based on the number of units purchased, the dollar value of the order, or the product mix purchased

A

noncumulative discounts

66
Q

A price reduction given to buyers for prompt payment or cash payment

A

cash discount

67
Q

A price reduction given to buyers for purchasing goods or services out of season

A

seasonal discount

68
Q

A concession in price to achieve a desired goal

A

allowance

69
Q

Reductions for transportation and other costs related to the physical distance between buyer and seller

A

geographic pricing

70
Q

The price of merchandise at the factory before shipment

A

*F.O.B factory

71
Q

A price indicating the producer is absorbing shipping costs

A

*F.O.B destination

72
Q

Charging all customers the same price, regardless of geographic location

A

uniform geographic pricing

73
Q

Pricing based on transportation costs within major geographic zones

A

Zone pricing

74
Q

Geographic pricing that combines factory price and freight charges from the bas point nearest the buyer

A

base-point pricing

75
Q

Absorption of all or part of actual freight costs by the seller

A

freight absorption pricing

76
Q

Prices charged in sales between an organization’s unit

A

transfer pricing

77
Q
A

Principles of Marketing 15-21 (3 decks)

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