Cluster Vocab Flashcards
Sampling plans
A course of action that obtains data or observations from a group
Marketing strategies
Identifies a target market and coordinated marketing mix selections to create sales.
Marketing plan
A formal document that specifies a company’s activities for a determined amount of time
Buying signals
Actions that a consumer does to indicate that they are ready to purchase
Signature
Name of the advertiser and/or logo that is the identification for a business in a promotional message
Market identification
The process of a marketer in identifying the most profitable areas to offer a new product or service
Product life cycle
The stages that a product goes through in its life: Introduction, Growth, Maturity and Decline
Semantic differential scale
A method used to measure satisfaction on a scale and the responent is asked to circle a number where 0 is neutral and one moves outwards from it towards the extremes of goodness and badness
Professional development
Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/or advancement
Slogan
A catchy phrase or words that identify a product or business
External audience
Individuals or groups outside of an organization at whom its communications and promotional efforts are aimed
Personal selling
Any form of direct contact between a salesperson and customer to fulfill their wants and needs
Emotional motive
A feeling expressed by a consumer through association with a product
Product knowledge
Information about a good or service that can include its application, function, features, and use.
Bias
Inaccuracy in data due to the characteristics of the process employed in the creation, collection, manipulation, and presentation of data, or due to faulty sample design
Error
A wrong action that can not be attributed to a lack of knowledge.
Selling policy
Decisions of a business regarding forms of payment, returns and exchanges, sales quotas, sales commission and legal and ethical issues
Casual research study
A study into an issue or topic that looks at the effect of one thing or variable on another
Headline
A phrase in an advertisement that grabs the consumer’s attention, creates interest and encourages them to read a promotional message
Word-of-mouth channels
Oral or written recommendation by a satisfies customer to the prospective customers of a good or service
Pricing
The value placed on a good or service
Feature benefit selling
Selling technique in which the seller matches a feature with an advantage or benefit that the customer wants or thinks is desirable
Product mix
All of the different products and/or services a company makes or sells
Product life cycle
The stages that a product goes through in its life: Introduction, Growth, Maturity and Decline