Marketing Flashcards
Sampling Plan
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
Actions that a consumer does to indicate that they are ready to purchase
Buying Signals
Signature
Name of the adertiser 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
Samantic Diffirenctial 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
External Audiance
Individuals or groups outside of an organization at whom its communications and promotional efforts are aimed
Promotional Mix
The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy
Product Knowledge
Information about a good or service that can include its application, function, features, and use.
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
Word-of-mouth channels
Oral or written recommendation by a satisfies customer to the prospective customers of a good or service
Feature Benifit 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
Greeting Aproach
When a salesperson first interacts with a consumer by welcoming a customer to the store and states they are available for questions
Clientelle
All of the clients of a business
Non-response error
Occurs when selected subjects fail to respond to a questionnaire. This can happen due to defective questionnaire wording and format, interviewer errors and/or inputting errors.
Exploratory research study
A study into a problem that provides details where a small amount of information exists. It may use a variety of methods such as trial studies, interviews, group discussions, experiments, or other tactics for the purpose of gaining information
Trial close
An initial effort by a salesperson to close a sale.
Channel-member relationships
Refers to the interconnectedness of members within a channel of distribution
Suggestion Selling
Selling additional goods or services to a customer
Promotional Plan
An outline of the marketing tools, strategies and resources that a company intends to use to promote product or service
Internal audience
Individuals or groups within an organization.
Data collection instrument
To gather information, marketers can use surveys, interviews, observations, federal and state government agencies, research companies, business publications and trade association publications
Merchandise Aproach
When a salesperson first interacts with a consumer by making a comment or asks a question about a product that a consumer is showing interest in
Selling process
The step-by-step process in which a salesperson advises a customer about products that suit his/her needs, leading through the decision to make a purchase
Distibution
The function of moving a selling goods from producer to consumer
Marketing information management
The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business
Product Bundling
Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices
Advertising
A form of paid, nonpersonal promotion in which a company promotes an idea, good or service through a variety of media
Standard
Used generally as an example or model to compare or measure the quality or performance of a practice or procedure
Data collection method
The systematic process of gathering information
Customer “Buzz”
Develops from a viral marketing technique used to get consumers talking about a product.
Pre-Approach
Observing a consumer prior to interaction
Product service management
The process of creating and changing the information about a company’s catalog of offerings
Service approach
When a salesperson first interacts with a consumer by offering assistance, often in the form of an open-ended question like “How may I help you?”
Advertising elements
The items found in an advertisement include Headline, Copy, Illustration and Signage.
Channels of distibution
Refers to the path a product takes from producer to the final consumer.
Marketing
The process of creating, communicating, delivering and exchanging offerings that have value for customers to generate profits for a business
Which close
When a salesperson encourages a consumer to select between two products to close a sale
Advertising media
The physical means of carrying a promotional message in words, speech and/or pictures; for example billboards, radio, newspapers, TV, magazines and the internet
Sample design
The part of the research plan that specifies how and how many respondents will be selected for a study
Primary research
Gathering data for the first time for a specific product, service and/or business
Feature
A feature is a distinctive characteristic of a good or service that sets it apart from similar items
Direct close
When a salesperson specifically asks for the purchase
Market planning
The market planning process typically result in a marketing strategy that can be used to enhance sales for the business producing it
statistics
Numbers that represent a fact or presents a view of a situation.
mark up pricing
The practice of adding a constant percentage to the price of an item to determine its selling price.
promotional mix
The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy
illustration
A photograph, drawing or other graphic that is used in a promotional message.
Direct market channels
Advertising that sends a promotional message to a targeted group of prospects and customer rather that a mass audience
This type of pricing includes the variable costs associated with goods, as well as portion of the fixed costs of operating the business
cost-plus pricing
secondary research
Data that has been previously collected for non-marketing activity and is available for a business’ use
