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