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