Marketing Chapter 17 Test- 12/11/15
List the 5 basic types of promotion
1. Personal selling 2.Advertising 3. Direct Marketing 4. Sales Promotion 5. Public relations
News Release
Announcement that is sent to the appropriate media outlets
Explain why companies should have an effective promotional mix
Because you want to try and spend your money on different ways to promote your company
incentives
Higher-priced products earned and given away through contests, rebates, and sweepstakes
Who is a Manufacturer? Who is a Wholesaler? Who is a Retailer?
Manufacturer- person who makes a product Wholesaler- mainly sells and buys in bulk and sells to businesses Retailer- store that sells the product
Trade Promotion activities are designed to get support for a product from the following:
Manufacturers Retailers Wholesalers
Sales Promotion
Represents all marketing activities - other then personal selling, advertising, and public relations that are used to stimulate purchasing and sales
Trade Promotions
Sales Promotion activities designed to get support for a product from manufacturers , wholesalers , and retailers
Consumer Promotion
Sales strategies that encourage customers and prospects to buy a product or service
What is the purpose of public relations?
To create a favorable image for a company Also they can enable an organization to influence a target audience
Explain the differences between trade promotions and consumer sales promotions.
Trade promotions are used by businesses which means it is more Business-to-Business selling Consumer sales promotions are targeted towards consumers (us)
Advertising
a form of non personal promotion in which companies pay to promote ideas, goods, or services in a variety of media outlets
Pull Policy
a process that directs promotion towards consumers
Product Promotion
a promotion method businesses use to convince consumers to select its products or services
Direct marketing
a type of advertising directed to a targeted group of prospects rather than to a mass audience
Public Relations
activities try to create a favorable image for a company ,its products, or its policies
Coupons
certificates that entitle customers to cash discounts on goods or services
Promotional Mix
combination of strategies and a cost effective allocation of resources a company uses to reach its promotional goals
What is a contest?
competitions based on demonstrated skills - requires skill
Product Placement
consumer promotion that involves using a brand-name product on an outside place
Promotion
decisions about advertising, personal selling, sales promotion, and publicity used to attract potential customers
What is a rebate?
discounts offered if the item is purchased during a certain time period
What is a sweepstake ?
game of chance
Publicity
involves bringing news or newsworthy info about an organization to the publics attention
Promotional tie-in
involves sales promotional arrangements between one or more retailers or manufacturers
What is the concept of product placement ?
it's a consumer promotion that involves using a brand name product in a movie , tv show , sporting event , or in a commercial for another product
Premiums
low- cost items given to consumers at a discount or for free
Push Policy
manufacturer uses a mix of personal selling, advertising, an buying discounts to promote a product to large retailers that sell its products
Institutional Promotion
promotion method used to create a favorable image for a business, helps it advocate for change , or take a stand on trade or community issues