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BUS 100 > Exam 3 > Flashcards

Exam 3 Flashcards

1
Q

human resource management (HRM)

A

set of organizational activities directed at attracting, developing, and maintaining an effective workforce

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2
Q

human capital

A

reflects the organization’s investment in attracting, retaining, and motivating an effective workforce

  • tangible indicator of the value of the people who comprise an organization
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3
Q

job analysis

A

systematic analysis of jobs within an organization

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4
Q

job description

A

description of a job, its working conditions, and the tools, materials, equipment, and information used to perform it

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5
Q

job specification

A

description of the skills, abilities, and other credentials and qualifications required by a job

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6
Q

replacement chart

A

list of each management position, who occupies it, how long that person will likely stay in the job, and who is qualified as a replacement

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7
Q

employee information system (skills inventory)

A

computerized system containing information on each employee’s education, skills, work experiences, and career aspirations

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8
Q

Title VII of the Civil Rights Act of 1964

A

forbids discrimination in all areas of the employment relationship

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9
Q

adverse impact

A

when minorities and women meet or pass the requirement for a job at a rate less than 80% of the rate of majority group members

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10
Q

Equal Employment Opportunity Commission (EEOC)

A

federal agency enforcing several discrimination related laws

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11
Q

Age Discrimination in Employment Act

A

outlaws discrimination against people older than 40 years

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12
Q

equal employment opportunity

A

legally mandated nondiscrimination in employment on the basis of race, creed, sex, or national origin

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13
Q

affirmative action

A

intentionally seeking and hiring employees from groups that are underrepresented in the organization

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14
Q

affirmative action plan

A

written statement of how the organization intends to actively recruit, hire, and develop members of relevant protected classes

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15
Q

Americans with Disabilities Act

A

forbids discrimination on the basis of disabilities and requires employers to provide reasonable accommodations for disabled employees

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16
Q

Civil Rights Act of 1991

A

amended the original Civil Rights Act, and other related laws, by making it easier to bring discrimination lawsuits and limiting the amount of punitive damages that can be awarded in those lawsuits

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17
Q

Fair Labor Standards Act

A

sets a minimum wage and requires the payment of overtime rates for work in excess of 40 hours per week

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18
Q

Equal Pay Act of 1963

A

requires that men and women be paid the same amount for doing the same job

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19
Q

Employee Retirement Income Security Act (ERISA) of 1974

A

ensures the financial security of pension funds by regulating how they can be invested

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20
Q

Family and Medical Leave Act (FMLA) of 1993

A

requires employers to provide up to 12 weeks of unpaid leave for family and medical emergencies

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21
Q

National Labor Relations Act (aka the Wagner Act)

A

sets up a procedure for employees to vote on whether to have a union

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22
Q

National Labor Relations Board (NLRB)

A

established by the Wagner Act to enforce its provisions

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23
Q

Labor-Management Relations Act (aka Taft-Hartley Act)

A

passed to limit union power

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24
Q

Occupational Safety and Health Act (OSHA) of 1970

A

federal law setting and enforcing guidelines for protecting workers from unsafe conditions and potential health hazards in the workplace

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25
Q

sexual harassment

A

making unwelcome sexual advances in the workplace

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26
Q

quid pro quo harassment

A

form of sexual harassment in which sexual favors are requested in return for job-related benefits

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27
Q

hostile work environment

A

Subtler form of sexual harassment deriving from off-color jokes, lewd comments, and so forth

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28
Q

employment at will

A

principle, increasingly modified by legislation and judicial decision, that organizations should be able to retain or dismiss employees at their discretion

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29
Q

Patriot Act

A

legislation that increased U.S. government’s power to investigate and prosecute suspected terrorists

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30
Q

recruiting

A

process of attracting qualified persons to apply for jobs an organization is seeking to fill

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31
Q

internal recruiting

A

considering present employees as candidates for openings

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32
Q

external recruiting

A

attracting persons outside the organization to apply for jobs

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33
Q

realistic job preview (RJP)

A

providing the applicant with a real picture of what performing the job that the organization is trying to fill would be like

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34
Q

compensation system

A

total package of rewards that organizations provide to individuals in return for their labor

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35
Q

wages

A

compensation in the form of money paid for time worked

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36
Q

salary

A

compensation in the form of money paid for discharging the responsibilities of a job

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37
Q

incentive program

A

special compensation program designed to motivate high performance

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38
Q

bonus

A

individual performance incentive in the form of a special payment made over and above the employee’s salary

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39
Q

merit salary system

A

individual incentive linking compensation to perfomance in non-sales jobs

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40
Q

pay for performance (variable pay)

A

individual incentive that rewards a manager for especially productive output

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41
Q

profit-sharing plan

A

incentive plan for distributing bonuses to employees when company profits rise above a certain level

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42
Q

gainsharing plan

A

incentive plan that rewards groups for productivity improvements

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43
Q

pay-for-knowledge plan

A

incentive plan to encourage employees to learn new skills or become proficient at different jobs

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44
Q

benefits

A

compensation other than wages and salaries

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45
Q

workers’ compensation insurance

A

legally required insurance for compensating workers injured on the job

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46
Q

cafeteria benefits plan

A

benefit plan that sets limits on benefits per employee, each of whom may choose from a variety of alternative benefits

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47
Q

training

A

usually refers to teaching operational or technical employees how to do the job for which they were hired

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48
Q

development

A

usually refers to teaching managers and professionals the skills needed for both present and future jobs

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49
Q

on-the-job training

A

training, sometimes informal, conducted while an employee is at work

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50
Q

vestibule training

A

off-the-job training conducted in a simulated environment

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51
Q

performance appraisal

A

evaluation of an employee’s job performance to determine the degree to which the employee is performing effectively

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52
Q

360-degree feedback

A

performance appraisal technique in which managers are evaluated by everyone around them-their boss, their peers, and their subordinates

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53
Q

workforce diversity

A

the range of workers’ attitudes, values, beliefs, and behaviors that differ by gender, race, age, ethnicity, physical ability, and other relevant characteristics

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54
Q

knowledge workers

A

employees who are of value because of the knowledge they possess

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55
Q

contingent worker

A

employee hired on something other than a full-time basis to supplement an organization’s permanent workforce

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56
Q

labor union

A

group of individuals working together to achieve shared job-related goals, such as higher pay, shorter working hours, more job security, greater benefits, or better working conditions

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57
Q

labor relations

A

process of dealing with employees who are represented by a union

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58
Q

collective bargaining

A

process by which labor and management negotiate conditions of employment for union-represented workers

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59
Q

cost-of-living adjustment (COLA)

A

labor contract clause tying future raises to changes in consumer purchasing power

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60
Q

wage reopener clause

A

clause allowing wage rates to be renegotiated at preset times during the life of a labor contract

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61
Q

strike

A

labor action in which employees temporarily walk off the job and refuse to work

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62
Q

picketing

A

labor action in which workers publicize their grievances at the entrance to an employer’s facility

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63
Q

boycott

A

labor action in which workers refuse to buy the products of a targeted employer

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64
Q

work slowdown

A

labor action in which workers perform jobs at a slower than normal pace

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65
Q

lockout

A

management tactic whereby workers are denied access to the employer’s workplace

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66
Q

strikebreaker

A

worker hired as a permanent or temporary replacement for a striking employee

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67
Q

mediation

A

method of resolving a labor dispute in which a third party suggests, but does not impose, a settlement

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68
Q

arbitration

A

method of resolving a labor dispute in which both parties agree to submit to the judgment of a neutral party

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69
Q

marketing

A

activities, a set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

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70
Q

value

A

relative comparison of a product’s benefits versus its costs

value = benefits/costs

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71
Q

utility

A

ability of a product to satisfy a human want or need

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72
Q

4 Kinds of Utility

A
  1. form
  2. time
  3. place
  4. possession
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73
Q

place utility

A

providing products where customers will want them

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74
Q

time utility

A

providing products when customers will want them

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75
Q

form utility

A

providing products with features that customers want

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76
Q

possession utility

A

transferring product ownership to customers by setting selling prices, setting terms for customer credit payments, and providing ownership documents

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77
Q

consumer goods

A

physical products purchased by consumers for personal use

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78
Q

industrial goods

A

physical products purchased by companies to produce other products

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79
Q

services

A

products having nonphysical features, such as information, expertise, or an activity that can be purchased

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80
Q

relationship marketing

A

marketing strategy that emphasizes building lasting relationships with customers and suppliers

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81
Q

customer relationship management (CRM)

A

organized methods that a firm uses to build better information connections with clients, so that stronger company-client relationships are developed

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82
Q

data warehousing

A

the collection, storage, and retrieval of data in electronic files

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83
Q

data mining

A

the application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information

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84
Q

political-legal environment

A

the relationship between business and government, usually in the form of government regulation of business

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85
Q

sociocultural environment

A

the customs, mores, values, and demographic characteristics of the society in which an organization functions

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86
Q

technological environment

A

all the ways by which firms create value for their constituents

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87
Q

economic environment

A

relevant conditions that exist in the economic system in which a company operates

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88
Q

competitive environment

A

the competitive system in which businesses compete

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89
Q

5 factors of external marketing environment

A
  1. political-legal environment
  2. sociocultural environment
  3. technological environment
  4. economic environment
  5. competitive environment
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90
Q

substitute product

A

product that is dissimilar from those of competitors, but that can fulfill the same need

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91
Q

brand competition

A

competitive marketing that appeals to consumer perceptions of benefits of products offered by particular companies

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92
Q

international competition

A

competitive marketing of domestic products against foreign products

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93
Q

marketing plan

A

detailed strategy for focusing marketing efforts on consumers’ needs and wants

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94
Q

marketing objectives

A

the things marketing intends to accomplish in its marketing plan

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95
Q

marketing strategy

A

all the marketing programs and activities that will be used to achieve the marketing goals

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96
Q

marketing manager

A

manager who plans and implements the marketing activities that result in the transfer of products from producer to consumer

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97
Q

marketing mix

A

combination of product, pricing, promotion, and place (distribution) strategies used to market products

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98
Q

product

A

good, service, or idea that is marketed to fill consumers’ needs and wants

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99
Q

product differentiation

A

creation of a product feature or product image that differs enough from existing products to attract customers

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100
Q

pricing

A

process of determining the beat price at which to sell a product

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101
Q

place (distribution)

A

part of the marketing mix concerned with getting products from producers to consumers

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102
Q

promotion

A

aspect of the marketing mix concerned with the most effective techniques for communicating information about products

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103
Q

advertising

A

any form of paid non personal communication used by an identified sponsor to persuade or info potential buyers about a product

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104
Q

personal selling

A

person-to-person sales

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105
Q

sales promotion

A

direct inducements such as premiums, coupons, and package inserts to tempt consumers to buy products

106
Q

public relations

A

communication efforts directed at building goodwill and favorable attitudes in the minds of the public toward the organization and its products

107
Q

integrated marketing strategy

A

strategy that blends together the Four Ps of marketing to ensure their compatibility with one another and with the company’s non marketing activities as well

108
Q

target market

A

the particular group of people or organizations on which a firm’s marketing efforts are focused

109
Q

market segmentation

A

process of dividing a market into categories of customer types, or “segments” having similar wants and needs and who can be expected to show interest in the same products

110
Q

product positioning

A

process of fixing, adapting, and communicating the nature of a product

111
Q

geographic variables

A

geographic units that may be considered in developing a segmentation strategy

112
Q

geographic segmentation

A

geographic units, from countries to neighborhoods, that may be considered in identifying different market segments in a segmentation strategy

113
Q

demographic segmentation

A

a segmentation strategy that uses demographic characteristics to identify different market segments

114
Q

demographic variables

A

characteristics of populations that may be considered in developing a segmentation strategy

115
Q

geo-demographic segmentation

A

using a combination of geographic and demographic traits for identifying different market segments in a segmentation strategy

116
Q

geo-demographic variables

A

combination of geographic and demographic traits used in developing a segmentation strategy

117
Q

psychographic segmentation

A

a segmentation strategy that uses psychographic characteristics to identify different market segments

118
Q

psychographic variables

A

consumer characteristics, such as lifestyles, opinions, interests, and attitudes, that may be considered in developing a segmentation strategy

119
Q

behavioral segmentation

A

a segmentation strategy that uses behavioral variables to identify different market segments

120
Q

behavioral variables

A

behavioral patterns displayed by groups of consumers and that are used in developing a segmentation strategy

121
Q

marketing research

A

the study of what customers need and want and how best to meet those needs and wants

122
Q

5 steps in the research process

A
  1. study the current situation
  2. select a research method
  3. collect data - secondary & primary
  4. analyze the data
  5. prepare a report
123
Q

secondary data

A

data that are already available from previous research

124
Q

primary data

A

new data that are collected from newly performed research

125
Q

observation

A

research method that obtains data by watching and recording consumer behavior

126
Q

survey

A

research method of collecting consumer data using questionnaires, telephone calls, and face-to-face interviews

127
Q

focus group

A

research method using a group of people from larger population who are asked their attitudes, opinions, and beliefs about a product in an open discussion

128
Q

experimentation

A

research method using a sample of potential consumers to obtain reactions to test versions of new products or variations of existing products

129
Q

4 basic methods of market research

A
  1. observation
  2. surveys
  3. focus group
  4. experimentation
130
Q

consumer behavior

A

study of the decision process by which people buy and consume products

131
Q

4 major influences on consumer behavior

A
  1. psychological influences
  2. personal influences
  3. social influences
  4. cultural influences
132
Q

psychological influences

A

include an individual’s motivations, perceptions, ability to learn, and attitudes that marketers use to study buying behavior

133
Q

personal influences

A

include lifestyles, personality, and economic status that marketers use to study buying behavior

134
Q

brand loyalty

A

pattern of repeated consumer purchasing based on satisfaction with a product’s performance

135
Q

5 stages of the consumer buying process

A
  1. problem or need recognition
  2. information seeking
  3. evaluation of alternatives
  4. purchase decision
  5. post-purchase evaluation
136
Q

evoked set (or consideration set)

A

group of products consumers will consider buying as a result of information search

137
Q

rational motives

A

reasons for purchasing a product that are based on a logical evaluation of product attributes

138
Q

emotional motives

A

reasons for purchasing a product that are based on nonobjective factors

139
Q

4 business-to-business (B2B) categories of business marketing

A
  1. services market
  2. industrial market
  3. reseller market
  4. institutional market
140
Q

services companies market

A

firms engaged in the business of providing services to the purchasing public

141
Q

industrial market

A

organizational market consisting of firms that buy goods that are either converted into products or used during production

142
Q

reseller market

A

organizational market consisting of intermediaries that buy and resell finished goods

143
Q

institutional market

A

organizational market consisting of such non-govermnental buyers of goods and services as hospitals, churches, museums, and charitable organizations

144
Q

social networking

A

network of communications that flow among people and organizations interacting through an online platform

145
Q

social networking media

A

websites or access channels, such as Facebook, Twitter, LinkedIn, and YouTube, to which consumers go for information and discussions

146
Q

viral marketing

A

type of marketing that relies on the Internet to spread information like a “virus” from person to person about products and ideas

147
Q

corporate blogs

A

comments and opinions published on the Web by or for an organization to promote its activities

148
Q

product features

A

tangible and intangible qualities that a company builds into its products

149
Q

value package

A

a product is marketed as a bundle of value-adding attributes, including reasonable cost

150
Q

consumer

A

person who purchases products for personal use

151
Q

industrial buyer

A

a company or other organization that buys products for use in producing other products (goods or services)

152
Q

convenience goods

A

inexpensive physical goods that are consumed rapidly and regularly

153
Q

convenience services

A

inexpensive services that are consumed rapidly and regularly

154
Q

shopping goods

A

moderately expensive, infrequently purchased services

155
Q

specialty goods

A

expensive, rarely purchased physical goods

156
Q

specialty services

A

expensive, rarely purchased services

157
Q

3 categories of consumer products

A
  1. convenience goods
  2. shopping goods
  3. specialty goods
158
Q

production items

A

goods or services that are used in the conversion (production) process to make other products

159
Q

expense items

A

industrial products purchased and consumed within a year by firms producing other products

160
Q

capital items

A

expensive, long-lasting, infrequently purchased industrial products, such as a building, or industrial services, such as a long-term agreement for data warehousing services

161
Q

3 categories of organizational products

A
  1. production items
  2. expense items
  3. capital items
162
Q

product mix

A

the group of products that a firm makes available for sale

163
Q

product line

A

group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways

164
Q

speed to market

A

strategy of introducing new products to respond quickly to customer or market changes

165
Q

7 step development process

A
  1. product ideas
  2. screening
  3. concept testing
  4. business analysis
  5. prototype development
  6. product testing and test marketing
  7. commercialization
166
Q

product life cycle (PLC)

A

series of stages in a product’s commercial life

167
Q

product extension

A

marketing an existing product globally instead of just domestically

168
Q

product adaptation

A

modifying an existing product for greater appeal in different countries

169
Q

reintroduction

A

reviving obsolete or older products for new markets

170
Q

branding

A

process of using symbols to communicate the qualities of a product made by a particular producer

171
Q

brand awareness

A

extent to which a brand name comes to mind when a consumer considers a particular product category

172
Q

product placement

A

promotional tactic for brand exposure in which characters in television, film, music, magazines, or video games use a real product with its brand visible to viewers

173
Q

national brands

A

brand-name product produced by, widely distributed by, and carrying the name of a manufacturer

174
Q

licensed brands

A

brand-name product for whose name the seller has purchased the right from an organization or individual

175
Q

private brand (or private label)

A

brand-name product that a wholesaler or retailer has commissioned from a manufacturer

176
Q

packaging

A

physical container in which a product is sold, advertised, or protected

177
Q

pricing

A

process of determining what a company will receive in exchange for its products

178
Q

pricing objectives

A

the goals that sellers hope to achieve in pricing products for sale

179
Q

market share (or market penetration)

A

company’s percentage of the total industry sales for a specific product type

180
Q

cost-oriented pricing

A

pricing that considers the firm’s desire to make a profit and its need to cover operating costs

181
Q

markup

A

amount added to an item’s purchase cost to sell it at a profit

182
Q

variable cost

A

cost that changes with the quantity of a product produced and sold

183
Q

fixed cost

A

cost that is incurred regardless of the quantity of a product produced and sold

184
Q

breakeven analysis

A

identifies the sales volume where total costs equal total revenues by assessing costs versus revenues at various sales volumes and showing, at any particular selling price, the amount of loss or profit for each volume of sales

185
Q

breakeven point

A

sales volume at which the seller’s total revenue form sales equals total costs (variable and fixed) with neither profit nor loss

186
Q

price skimming

A

setting an initially high price to cover new product costs and generate a profit

187
Q

penetration pricing

A

setting an initially low price to establish a new product in the market

188
Q

bundling strategy

A

grouping several products together to be sold as a single unit at a reduced price, rather than individually

189
Q

price lining

A

setting a limited number of prices for certain categories of products

190
Q

psychological pricing

A

pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices

191
Q

odd-even pricing

A

psychological pricing tactic based on the premise that customers prefer prices not stated in even dollar amounts

192
Q

discounts

A

price reduction offered as an incentive to purchase

193
Q

distribution mix

A

combination of distribution channels by which a firm gets its products to end users

194
Q

intermediary

A

individual or firm that helps to distribute a product

195
Q

wholesaler

A

intermediary who sells products to other businesses for resale to final consumers

196
Q

retailer

A

intermediary who sells products directly to consumers

197
Q

distribution channel

A

network of interdependent companies through which a product passes from producer to end user

198
Q

direct channel

A

distribution channel in which a product travels from producer to consumer without intermediaries

199
Q

sales agent

A

independent intermediary who generally deals in the related product lines of a few producers and forms long-term relationships to represent those producers and meet the needs of many customers

200
Q

broker

A

independent intermediary who matches numerous sellers and buyers as needed, often without knowing in advance who they will be

201
Q

4 distribution channels

A

Channel 1: direct distribution
Channel 2: retail distribution
Channel 3: wholesale distribution
Channel 4: distribution by agents or brokers

202
Q

intensive distribution

A

strategy by which a product is distributed through as many channels as possible

203
Q

exclusive distribution

A

strategy by which a manufacturer grants exclusive rights to distribute or sell a product to a limited number of wholesalers or retailers in a given geographic area

204
Q

selective distribution

A

strategy by which a company uses only wholesalers and retailers who give special attention in sales effort to specific products

205
Q

channel conflict

A

conflict arising when the members of a distribution channel disagree over the roles they should play or the rewards they should receive

206
Q

channel captain

A

channel member who is most powerful in determining the roles and rewards of other members

207
Q

merchant wholesalers

A

independent wholesaler who takes legal possession of goods produced by a variety of manufacturers and then resells them to other organizations

208
Q

full-service merchant wholesalers

A

merchant wholesaler that provides credit, marketing, and merchandising services in addition to traditional buying and selling services

209
Q

limited-function merchant wholesaler

A

merchant wholesaler that provides a limited range of services

210
Q

drop shippers

A

limited-function merchant wholesaler that receives customer orders, negotiates with producers, takes title to goods, and arranges for shipment to customers

211
Q

e-intermediary

A

Internet distribution channel member that assists in delivering products to customers or that collects information about various sellers to be presented to consumers, or they help deliver online products to buyers

212
Q

syndicated selling

A

e-commerce practice whereby a website offers other websites commissions for referring customers

213
Q

shopping agent (e-agent)

A

e-interediary (middleman) in the Internet distribution channel that assists users in finding products and prices but does not take possession of products

214
Q

3 types of e-intermediaries

A
  1. syndicated sellers
  2. shopping agents
  3. business-to-business (B2B) brokers
215
Q

department store

A

large product-line retailer characterized by organization into specialized department

216
Q

supermarket

A

large product-line retailer offering a variety of food and food-related items in specialized departments

217
Q

specialty store

A

retail store carrying on product line or category of related products

218
Q

bargain retailer

A

retailer carrying a wide range f products at bargain prices

219
Q

discount house

A

bargain retailer that generates large sales volume by offering goods at substantial price reductions

220
Q

catalog showroom

A

bargain retailer in which customers place orders for catalog items to be picked up at on-premises warehouses

221
Q

factory outlet

A

bargain retailer owned by the manufacturer whose products it sells

222
Q

wholesale club

A

bargain retailer offering large discounts on brand-name merchandise to customers who have paid annual membership fees

223
Q

convenience store

A

retail store offering easy accessibility, extended hours, and fast service

224
Q

3 types of brick-and-mortar retail outlets

A
  1. product-line retailers
    • department stores
    • supermarkets
    • specialty stores
  2. bargain retailers
    • discount houses
    • catalog showrooms
    • factory outlets
    • wholesale clubs
  3. convenience stores
225
Q

direct-response retailing

A

form of non-store retailing in which firms directly interact with customers to inform them of products and to receive sales orders

226
Q

mail order (catalog marketing)

A

form of non-store retailing in which customers place order catalog merchandise received through the mail

227
Q

telemarketing

A

form of non-store retailing in which the telephone is used to sell directly to consumers

228
Q

direct selling

A

form of non-store retailing typified by door-to-door sales

229
Q

online retailing

A

non-store retailing in which information about the seller’s products and services is connected to consumers’ computers, allowing consumers to receive the information and purchase the products in the home

230
Q

e-catalog

A

non-store retailing in which the Internet is used to display products

231
Q

electronic storefront

A

commercial website at which customers gather information about products and buying opportunities, place orders and pay for purchases

232
Q

cybermail

A

collection of virtual storefronts (business websites) representing a variety of products and product lines on the Internet

233
Q

video retailing

A

non-store retailing to consumers via home television

234
Q

physical distribution

A

activities needed to move a product efficiently from manufacturer to consumer

235
Q

warehousing

A

physical distribution operation concerned with the storage of goods

236
Q

private warehouse

A

warehouse owned by and providing storage for a single company

237
Q

promotion

A

aspect of the marketing mix concerned with the most effective techniques for communicating information about and selling a product

238
Q

positioning

A

process of establishing an identifiable product image in the minds of consumers

239
Q

pull strategy

A

promotional strategy designed to appeal directly to consumers who will demand a product from retailers

240
Q

push strategy

A

promotional strategy designed to encourage wholesalers or retailers to market products to consumers

241
Q

promotional mix

A

combination of tools used to promote a product

242
Q

advertising

A

promotional tool consisting of paid, non personal communication used by an identified sponsor to inform an audience about a product

243
Q

advertising media

A

variety of communication devices for carrying a seller’s message to potential customers

244
Q

media mix

A

combination of advertising media chosen to carry a message about a product

245
Q

personal selling

A

promotional tool in which a salesperson communicates one-on-one with potential customers

246
Q

retail selling

A

selling a consumer product for the buyer’s personal or household use

247
Q

industrial selling

A

selling products to other businesses, either for the purpose of manufacturing or for resale

248
Q

order processing

A

personal-selling task in which salespeople receive orders and see to their handling and delivery

249
Q

creative selling

A

personal-selling task in which salespeople try to persuade buyers to purchase products by providing information about their benefits

250
Q

missionary selling

A

personal-selling task in which salespeople promote their firms and products rather than try to close sales

251
Q

6 steps of the personal selling process

A
  1. prospecting and qualifying
  2. approaching
  3. presenting and demonstrating
  4. handling objections
  5. closing
  6. following up
252
Q

sales promotion

A

short-term promotional activity designed to encourage consumer buying, industrial sales, or cooperation from distributors

253
Q

coupon

A

sales-promotion technique in which a certificate is issued entitling the buyer to a reduced price

254
Q

premium

A

sales-promotion technique in which offers of free or reduced-price items are used to stimulate purchases

255
Q

loyalty programs

A

sales promotion technique in which frequent customers are rewarded for making repeat purchases

256
Q

point-of-sale (POS) display

A

sales-promotion technique in which product displays are located in certain areas to stimulate purchase or to provide information on a product

257
Q

trade show

A

sales-promotion technique in which various members of an industry gather to display , demonstrate, and sell products

258
Q

direct (or interactive) marketing

A

one-on-one non personal selling by non-store retailers and B2B sellers using direct contact with prospective customers, especially via the Internet

259
Q

publicity

A

promotional tool in which information about a company, a product, or an event is transmitted by the general mass media to attract public attention

260
Q

public relations

A

company-influenced information directed at building goodwill with the public or dealing with unfavorable events

BUS 100 (1 decks)

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