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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
Samples of a product given out to encourage trial and purchase
free samples
26
Items offered free or at a minimal cost as a bonus for purchasing a product
premiums
27
Sales promotion methods in which individuals compete for prizes based on their analytical or creative skills
consumer contests
28
Sales promotion methods in which individuals compete for prizes based primarily on chance
consumer games
29
A sales promotion in which entrants submit their names for inclusion in a drawing for prizes
consumer sweepstakes
30
Methods intended to persuade wholesalers and retailers to carry a producer's products and market them aggressively
trade sales promotion methods
31
A temporary price reduction to resellers for purchasing specified quantities of a product
buying allowance
32
A sum of money given to a reseller for each unit bought after an initial promotion deal is over
buy-back allowance
33
A manufacturer's reward to retailers based on the number of pieces
scan-back allowance
34
A manufacturer's agreement to pay resellers certain amounts of money for providing special promotional efforts, such as setting up and maintaing a display
merchandise allowance
35
An arrangement in which a manufacturer agrees to pay a certain amount of a retailer's media costs for advertising the manufacture's products
cooperative advertising
36
Advertisements that promote a product and identify the names of participating retailers that sell the product
dealer listings
37
A manufacture's reward given to resellers that purchase a stated quantity of products
free merchandise
38
A gift, often part of a display, given to a retailer that purchases a specified quantity of merchandise
dealer loader
39
Extra compensation to salespeople for pushing a line of goods
premium money (push money)
40
A sales promotion method used to motivate distributors, retailers, and seas personnel through recognition of outstanding achievements
sales contest
41
The value paid for a product in a marketing exchange
price
42
The trading of products
barter
43
Emphasizing price as an issue and matching or beating competitors' prices
price competition
44
Emphasizing factors other than price to distinguish a product from competing brands
\*nonprice competition
45
A graph of the quantity of products expected to be sold at various prices if other factors remain constant
demand curve
46
A measure of the sensitivity of demand to changes in price
price elasticity of demand
47
Costs that do not vary with changes in the number of units produced or sold
fixed costs
48
The fixed cost per unit produced
average fixed cost
49
Costs that vary directly with changes in the number of units produced or sold
variable cost
50
The variable cost per unit produced
average variable cost
51
The sum of average fixed and average variable costs times the quantity produced
total cost
52
The sum of the average fixed cost and the average variable cost
average total cost
53
The extra cost incurred by producing one more unit of a product
marginal cost (MC)
54
The change in total revenue resulting from the sale of an additional unit of a product
marginal revenue (MR)
55
The point at which the costs of producing a product equal he revenue made from selling the product
break-even point
56
A price developed in the buyer's mind through experience with the product
internal reference price
57
A comparison price provided by others
external reference price
58
Concerned about price and quality of a product
value conscious
59
striving to pay low prices
price conscious
60
Drawn to products that signify prominence and status
prestige sensitive
61
Employing price differentials that injure competition by giving one or more buyers a competitive advantage
price discrimination
62
A reduction off the list price a producer gives to an intermediary for performing certain functions
trade (functional) discount
63
deductions from the list price for purchasing in large quantities
quality discounts
64
Quantity discounts aggregated over a stated time period
cumulative discounts
65
One-time price reductions based on the number of units purchased, the dollar value of the order, or the product mix purchased
noncumulative discounts
66
A price reduction given to buyers for prompt payment or cash payment
cash discount
67
A price reduction given to buyers for purchasing goods or services out of season
seasonal discount
68
A concession in price to achieve a desired goal
allowance
69
Reductions for transportation and other costs related to the physical distance between buyer and seller
geographic pricing
70
The price of merchandise at the factory before shipment
\*F.O.B factory
71
A price indicating the producer is absorbing shipping costs
\*F.O.B destination
72
Charging all customers the same price, regardless of geographic location
uniform geographic pricing
73
Pricing based on transportation costs within major geographic zones
Zone pricing
74
Geographic pricing that combines factory price and freight charges from the bas point nearest the buyer
base-point pricing
75
Absorption of all or part of actual freight costs by the seller
freight absorption pricing
76
Prices charged in sales between an organization's unit
transfer pricing
77

Principles of Marketing 15-21 (3 decks)

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