Entrepreneurship - Chapter 6
personal selling
Direct communication between a prospective buyer and a sales representative
channels of distribution
Routes that products and services take from the time they are produced to the time they are consumed
telemarketing
using the phone to market a product or service
advertising
A paid form of communication sent out by a business about a product or service
rebate
A refund offered to people who purchase a product
press release
A written statement meant to inform the media of an event or product
direct channel
Moves the product directly from the manufacturer to the consumer
public relations
The act of establishing a favorable relationship with customers and the general public
sales promotion
The act of offering an incentive to customers in order to increase sales
indirect channel
Uses intermediaries that move products between the manufacturer and the consumer
distribution
an important component of supply chain management that involves the locations and methods used to make products and services available to customers
physical distribution
includes transportation, storage, handling, and packaging of products within a channel of distribution
publicity
nonpaid form of communication that calls attention to a business through media coverage
visual marketing
Involves the use of visual media to promote and sell a product
emotional buying decisions
Purchase decisions based on the desire to have a specifi c product or service
rational buying decisions
Purchase decisions based on the logical reasoning of customers
supply chain management
the coordination of manufacturers, suppliers, and retailers working together to meet a customer need for a product or service