Business Dynamics Ch 16

Personal Selling

a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other Face to Face interaction The interaction is critical to your purchasing If you had a job as a sales person: prospecting... Follow up- You want loyalty and a relationship B2C selling process: approach, ask questions, make a presentation, close sale, follow up

Sales Promotion

a short-term inducement of value offered to arouse interest in buying a product or service Creating incentives to buy B2B- trade shows, sponsor events B2C- discounts, coupons, samples Even inside a company: sales training, sales aids, participation Word-of-mouth promotion: people tell others ab products they have purchase, negative word-of-mouth can b really bad Social networking: inexpensive way to get a lot of exposure and traffic, easy communication and connection with customers Podcasts and emails are popular Infulencers: celebrities promoting products, but lost the genuinity bc people think they are being paid than their just honest opinion

Integrated marketing Communication (IMC)

a strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences Create a positive brand image Meeting the needs of consumers

Advertising

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor What you say to others: Informing, persuading, reminding Biggest component: Digital Advertising Social media, website ads TV is turning more to streaming Product Placement: putting products into shows Infomercials Social media advertising: influencers This has lost the genuineness of the influencer now bc we assume they are getting paid (used to me more like PR but now its advertising)

Publicity

any unpaid form of nonpersonal presentation of ideas, goods, or services

In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information from current customers. This is an important part of the __________ step in personal selling.

follow-up

The first step in developing a typical promotion campaign is to

identify a target market

When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way. Creating a unified promotional message, where potential customers perceive the same message whether it is in a TV commercial, on a billboard, or in a blog, is called

integrated marketing communication.

It is the responsibility of the public relations department to

maintain close ties with the media, community leaders, government officials, and other corporate stakeholders.

What is one benefit of utilizing social media to deliver advertising messages?

An organization can test ads and promotions before bringing them to traditional media.

How do consumers benefit from advertising?

They receive valuable information, and advertising can even pay for the media that delivers the message.

Promotion Mix

a combination of promotional methods used to promote a specific product

Pull Strategy

a marketing strategy that stimulates consumer demand to obtain product distribution Heavy advertising and sales promotion effort are directed toward consumers so that they'll request the product from retailers Demand from the customer: Get the customer to come to you Target ground customer, to have them request the product Uber

Push Strategy

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise producers uses advertising to personal selling, sales promotion, and other promotional tools to convince wholesalers and retailers to stock and sell their merchandise Putting your product on shelf through wholesalers Doritos

While watching a TV show, Jed noticed the hero was drinking a Coors Light beer. Marketers would categorize this form of advertising as

product placement.

What is the first step in the B2B personal selling process?

prospect and qualify

After a section of the city was flooded, the community food pantry and its volunteers provided three meals daily to those affected. After local and regional media picked up the story, donations poured in from all over the area. The effort quickly turned into an important __________ campaign for the food pantry.

public relations

A promotional strategy in which the producer uses advertising, personal selling, sales promotion, and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise is referred to as a __________ strategy.

push

Marketing strategies to go to market

push and pull strategies

Cara received a free shampoo packet in the mail with a coupon last week. When Cara next went to the store, she took the shampoo coupon and used it to purchase this new hair product. While at the store, Cara also bought a particular brand of toothpaste because the tube came with a free toothbrush. Cara is taking advantage of

sales promotions

One of the best ways to reduce negative word of mouth is to

take care of consumer complaints quickly and effectively.

Promotion is one of the four Ps of marketing. The promotion mix is

the combination of promotional tools an organization uses.

Public Relations

the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance What others say about you Listen to the public, change policies and procedure, inform people Publicity: any information about an individual, product, organization that's distributed to the public that not paid, you can't control it Free Reaches people who wouldn't look at advertising More believable