Mrkt 311
message research
Advertising research that tests consumer reactions to an advertisements creative message
reminder advertising
Advertising that reinforces previous promotional activity by keeping the name of a good, service, organization
Marketing Mix
Blending of the four strategy elements - product, distribution, promotions and price - to fit the needs and preferences of a specific target market
product
Bundle of physical, service and symbolic attributes designed to satisfy a customer's wants and needs
accessory equipment
Capital items, such as desktop computers and printers, that typically cost less and last for shorter periods than installations
industrial distributor
Channel intermediary that takes title to goods it handles and then distributes these goods to retailers
Total quality management
Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance
Integrated marketing communications
Coordination of all promotional activities to produce a unified, customer focused promotional message
line extension
Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line
Service Quality
Expected and perceived quality of a service offering
A Frito-Lay driver who covers a geographic route of grocery stores taking orders, restocking shelves, and removing products past the expiration date is classified as a field salesperson.
F
A salesperson assigned to answer the telephone and take orders or answer customers' questions is involved in outbound telemarketing.
F
If a product or service being sold requires relatively little special handling, marketers typically emphasize personal selling in their promotional mix.
F
Over-the- counter selling is a lower-cost alternative compared to telemarketing or online selling.
F
Personal selling is a less important component in the promotional mix when individual orders account for large amounts of revenue.
F
decline stage
Final stage of the product lifecycle, in which a decline in total industry sales occurs
Components, parts and materials
Finished business products of one producer that become part of the final products of another producer
introductory stage
First stage of the product life cycle, in which a firm works to stimulate sales of a new-market entry
Convenience products
Goods and services consumers want to purchase frequently, immediately and with minimal effort
homeshoring
Hiring workers to do jobs from their homes
business services
Intangible products firms buy to facilitate their production and operating processes
Services
Intangible tasks that satisfy the needs of consumer and business users
personal selling
Interpersonal influence process
sales quotas
Level of expected sales fora territory, product, customer, or salesperson against actual results
installations
Major capital investments
sales promotion
Marketing activities other than personal selling, advertising, guerrilla marketing, and public relations that stimulate consumer purchasing and dealer effectiveness
consultative selling
Meeting customer needs by listening to them understanding their problems and paying attention to details
benchmarking
Method of measuring quality by comparing performance against industry leaders.
Split runs
Methods of testing alternative ads by dividing cable TV audience or a publications subscribers in two, using two different ads
raw materials
Natural resources such as farm products, coal, copper or lumber
Service encounter
Point at which the customer and service provider interact.
Trade Show
Product exhibition organized by industry trade associations to showcase goods and services
Shopping products
Products consumers purchase after comparing competing offerings
persuasive advertising
Promotion that attempts to increase demand for an existing good, service, organization person, place
Nonpersonal selling
Promotion that includes advertising, product placement, sales promotion
relationship selling
Regular contacts between sales reps and customers for an extended period of time
supplies
Regular expenses a firm incurs in its daily operations
Field Selling
Sales presentations made at prospective customers' locations on a face-to-face basis
team selling
Selling situation in which several sales associates or other members of the organization are employed to help lead sales
bonus pack
Specially packaged item that gives the purchaser a larger quantity at the regular price
goods- service continuum
Spectrum along which goods and services fall according to their attributes, from pure good to pure service.
ISO 9001:2008
Standards developed by international organization for standardization in Switzerland to ensure consistent quality management
AIDA Concept
Steps through which an individual reaches a purchase decision
promotional mix
Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling
Field selling is more expensive than other selling options and often requires considerable technical expertise.
T
Network marketing is a form of field selling in customers' homes.
T
Over-the- counter personal selling efforts are frequently supplemented with other promotions such as special sales events, new product introductions, and direct-mail appeals.
T
Over-the- counter selling usually requires the customer to take the initiative and travel to the seller's place of business.
T
Personal selling is an important component of the promotional mix for a firm that markets to relatively few potential customers.
T
Personal selling is more costly and time consuming compared to other types of promotion.
T
expectancy theory
Theory that motivation depends on an individuals expectations of his or her ability to perform a job
retail advertising
advertising that uses stores to sell goods
product mix
assortment of product lines and individual product offering a company sells
MRO items
business supplies that include maintenance items, repair items, and operating supplies
push money
cash reward paid to retail salespeople for every unit of a product they sell
promotion
communication link between buyers and sellers
staples
convenience goods and services consumers constantly repelenish
direct marketing
direct communications other than personal sales contacts, between buyer and seller, designed to generate sales
point -of- purchase advertising
display or promotion placed near actual buying place
comparative advertising
emphasizes messages with direct or indirect promotional comparisons between brands
trade allowances
financial incentives offered to wholesalers and retailers that purchase or promote specific products
salary
fixed compensation payment made periodically to an employee
personal selling
interpersonal influence process involving a seller's promotional presentation conducted on a person-to-person basis
premium
item given free or at reduced cost with purchase of other products
marketing communications
messages dealing with buyers and sellers
product advertising
nonpersonal selling of a particular good or service
Advertising
paid, nonpersonal communication through various media about a business firm, not for profit organization
prospecting
personal selling function of identifying potential customers
business-to-consumer product
product destined for use by ultimate consumers
specialty products
product with unique characteristics that cause buyers to prize those particular brands
Emergency goods and services
products bought in response to unexpected and urgent needs
unsought products
products marketed to consumers who may not yet recognize a need for them
impulse goods and services
products purchased on the spur of the moment
product lifecycle
progression of a product through introduction, growth, maturity and decline
sweepstakes
promotion technique in which prize winners are selected by chance
informative advertising
promotion that seeks to develop initial demand for a good, service, organization, person, place
trade promotion
sales promotion that appeals to marketing intermediaries
growth stage
second stage of product life cycle, begins when firm realizes substantial profits from its investment in a product.
inside selling
selling by phone, mail and electronic commerce
advertising campaign
series of related ads that use a single theme
product line
series of related products offered by one company
Media scheduling
setting the timing and sequence for a series of advertisements
sender
source of the message
closing
stage of personal selling process where customer is asked to make a decision
cooperative advertising
strategy in which a retailer shares advertising costs with a manufacturer or wholesaler
goods
tangible products customers can see, hear, smell, taste...
maturity stage
third stage of the product life cylce, in which industry sales level out
interactive advertising
two way promotional messages transmitted through communication channels
Guerrilla Marketing
unconventional, innovative and low-cost marketing techniques designed to get consumer's attention in unusual ways