MGMT 321-Chapter 10 Flashcards
sales lead
people who receive a promotional impression and who give thought to buying the product
Prospects
Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase
Marketing Funnel
rule of thumb in marketing is that it takes a large number of people to be made aware of your product in order to find a purchaser. Relates promotional impressions to firm sales
Value proposition
small business owners unique selling points that will be used to differentiate their products and/or services from those of the competition
Segmentation
process of dividing the market into smaller portions of people who have common characteristics
target market
segment or segments selected for concentrated marketing efforts
Predetermined market segments
professionally compiled target audiences based on shared demographic, financial, shopping, and psycho graphic characteristics
Succinct message
key point in as few memorable words as possible
Promotional mix
how much of each message conveyance you will use to sell your product as well as your objective in using each one
mat release
news release that is typeset and thus may be photographically reproduced for inclusion in a newspaper
cognitive dissonance
doubt that occurs after a purchase has been made. an inconsistency between experience and belief
customer retention
techniques that focus on efforts to promote satisfaction with and interest in the firm
customer relationship management (CRM)
process of tracking the customer’s different contacts with the firm and using this data to help improve sales as well as the customer’s experience
customer vector
type of CRM report which segments by customer on purchases or dates of purchase
Structure of a press release
- Headline
- Opening paragraph
- Body
- Closing paragraph
