final exam definitions Flashcards
Agency
Marketing services firm that assists companies in planning, preparing, implementing, evaluating their advertising programs.
Execution style
Style, tone, approach, format used to present an ad
Personal selling process
Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships
Consumer promotions (13) (2 components)
Sales promotion tools used to boost
short-term customer buying and
engagement or enhance long-term
customer relationships.
Trade promotions (13)
Sales promotion tools used to persuade
resellers to carry a brand, give it shelf
space, promote it in advertising, and
push it to consumers.
Push promotion (13)
A promotion strategy that calls
for using the sales force and trade
promotion to push the product through
channels. The producer promotes the
product to channel members who in
turn promote it to final consumers
Pull promotion (13)
A promotion strategy that calls for
spending a lot on consumer advertising
and promotion to induce final
consumers to buy the product, creating
a demand vacuum that “pulls” the
product through the channel.
Segmentation (5)
Dividing a market into distinct groups of buyers who have different needs, characteristics, behaviors and who might require separate marketing strategies
Value proposition (5)
Set of benefits a company promises to deliver to customers to satisfy needs
Targeting (5)
Selecting one or more segments and developing solutions (products/services) to meet those needs
Marketing information system
People and procedures that assess info needs, develop needed info, and help decision makers use info to generate actionable insights
Marketing research
Systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization
Advertising (12)
Paid form of nonpersonal presentational and promotion of ideas, goods, or services by an identified sponsor
Brand
A name, term, sign, symbol, or design or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
Image differentiation
Company or brand image should convey a product’s distinct benefits or positioning.
Positioning
Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target customers
Market offering (1)
Some combination of products, services, information or experiences offered to satisfy a need or want
Exchange (1)
The act of obtaining a desired object
from someone by offering something
in return