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Marketing final > Unit 8- Promotion > Flashcards

Unit 8- Promotion Flashcards

0
Q

what is the push strategy?

A

manufacturer convinces wholesalers, distributors, or retailers to sell its products
move products through the channel by convincing channel members to offer them
(use of company’s sales force & trade promotion activities to create consumer demand for a product)

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1
Q

what is the promotion mix?

A

the marketers “bag of tools” for communicating with customers/stakeholders

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2
Q

what is pull strategy?

A

creates demand for a product among consumers so that businesses agree to sell the product
move products through the channel by building desire among consumers, convincing retailers to respond to demand
(high spending on advertising & consumer promotion to build up consumer demand for a product)

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3
Q

what is the top down budget?

A

top management sets the overall amount the company will spend on promotional activities for the year

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4
Q

what is the bottom-up budget?

A

PLC: to allocate more money during the introduction stage of a new product than in later stages when the product is established

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5
Q

what are the types of advertising?

A

product advertising, institutional or corporate advertising, retail/local advertising, do-it-yourself advertising

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6
Q

what are the types of agencies?

A

limited service agency

full service agency

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7
Q

what are the main roles of the agencies?

A

account management
creative services
research/marketing services
media planning

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8
Q

what’s an advertising campaign

A

a coordinted, comprehensive plan that carries out promotion objectives & results in a serious of ads placed in media over a period of time

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9
Q

what is USP?

A

unique selling propostion- gives consumer a single reason why one product is better at solving the problem

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10
Q

advertising in traditional media?

A

television, radio, newspapers, magazines, ng, directories, out-of home media, place-based media

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11
Q

advertising with online ads?

A

text ad, banners, rich media, full page, interstitail/pop-up ads, map advertisement, social media

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12
Q

what are the 5m’s of advertising?

A 
mission- goals
money- budget
message
media- vehicles
measure- metrics
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13
Q

what is personal selling?

A

company representative interacts directly with prospective customer to communicate about a good/service

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14
Q

what is personal selling important?

A

when firm uses push strategy
b2b contexts & services
with inexperienced consumers who need hands-on assistance & complicated products such as electronics
products bought infrequently/ high involvement
Cost per contact is very high

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15
Q

what is transactional selling?

A

high pressure process that focuses on making an immediate sale w/no concern for developing long term customer relationshp

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16
Q

what is relationship selling?

A

process of building long-term customers by developing mutually satisfying, win-win relationships with customers

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17
Q

what are sales promotion?

A

programs designed to build interest in or encourage purchase of a product during a specified period of time
-deliver short-term sales results
target end: consumers, channel partners, employees

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18
Q

sales promotion toward trade?

A

discounts & deals

increasing industry visibility

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19
Q

sales promotion towards consumers ?

A

price based

attention getting

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20
Q

what is public relations?

A

publicity: unpaid communication about an organization that gets media exposure
responsible for preparing a crisis management plan

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21
Q

what is direct marketing?

A

allows organizations to target specific individuals
direct communication to a consumer or business recipient designed to generate a response in the form of -an order, a request for further info, a visit to a store or other place of business for purchase of a product

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22
Q

what are the types of direct marketing?

A

mail order, telemarketing, direct-response tv, mobile phone

23
Q

what is WOM?

A

word of mouth.. the act of consumers providing information to other consumers

24
Q

what is WOM marketing?

A

giving people a reason to talk about your products & services, & making it easier for that conversation to take place

25
Q

what is Organic WOM?

A

generated through day-to day customer experiences

26
Q

what is IMC?

A

Integrated Marketing Communications

provide an approach designed to deliver one consistent message to buyers through an organizations promotions

27
Q

what are the promotional mix elements?

A

advertising, consumer sales promotion, trade promotions, direct marketing, professional selling

28
Q

what are consumer sales promotions?

A

consist of short-term incentives such as coupons, contest, games, rebates, & mail in offers that supplement the advertising & sales efforts

29
Q

what is the communication process?

A

to encode or translate ideas into messages that can be correctly interpreted by buyers it illustrates how messages are sent & received

30
Q

what is vehicle?

A

the specific means, such as a particular magazine or specific television show, within a medium to reach a selected target market

31
Q

what is the AIDA model?

A

includes several different promotion objectives, including attention, interest, desire & action

32
Q

what is primary demand?

A

demand for a product category

33
Q

what is selective demand?

A

demand for a specific brand

34
Q

what is the affordable method?

A

a budgeting technique whereby companies spend what they think they can afford promoting a product

35
Q

what is competitive parity method?

A

a budgeting method whereby companies make sure their promotion budgets are comparable to their competitors

36
Q

what are objective & task method?

A

a budget based on a company’s promotion objectives & the costs of the activities n tasks necessary to accomplish those objectives

37
Q

what are the different types of sales promotions?

A

conventions, or meetings, with groups of professionals
sales contests
trade allowances
free merchandise

38
Q

what are public relations materials?

A

press releases
publicity
news conferences

39
Q

whats a press release?

A

news story written by an organization to promote a product, organization or person
can used for damage control purposes

40
Q

what salespeople do?

A

creating value for their firms customers
managing relationships
relaying customer & market information back to their organizations

41
Q

who are missionary salespeople?

A

missionary salesperson calls on people who make decisions about products but don’t actually buy them & while they call on individuals, the relationship is b2b

42
Q

who are trade salespeople?

A

someone who calls on retailers & helps them display, advertise & sell products to consumers

43
Q

who are prospectors?

A

whose primary function is to find prospects, or potential customers

44
Q

who are account managers?

A

responsible for ongoing business w/a customer who uses a product

45
Q

what’s the sales process?

A

approach, needs identification, presentation, objection handling, close, implement & provide customer service

46
Q

what is the sales cycle?

A

basic unit of measurement indicating how long it takes to close a sale

47
Q

what is lead management?

A

the process of identifying & qualifying leads in order to grow new business

48
Q

what is closed loop lead management systems?

A

information systems that are able to track leads all the way from the point at which the marketer identifies them to when they are closed

49
Q

what does marketing do for sales?

A

marketing shortens the sales cycle, mkt improves conversion ratios by scoring leads,

50
Q

what are conversion ratios?

A

measure how good a salesperson is at moving customers from one stage in the selling cycle to the next

51
Q

what are activity goals

A

number of sales calls of each type a representative has to be make in a certain period of time

52
Q

whats a win loss analysis

A

an “after the battle” review of how well a salesperson perfomed given the opportunities face

53
Q

what’s a bonus?

A

paid at the end of a period of time based on the total amount sold

54
Q

what’s commission

A

typically thought of as a payment for each sale

Marketing final (17 decks)

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