Shared Flashcard Set

Details

chapters 14-17,19
test 4
96
Marketing
05/02/2008

Additional Marketing Flashcards

 


 

Cards

Term
Advertising
Definition
Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor
Term
Affordable method
Definition
Setting the promotion budget at the level management thinks the company can afford
Term
Competitive-parity method
Definition
Setting the promotion budget to match competitors’ outlays
Term
Decoding
Definition
the process by which the receiver assigns meaning to the symbols encoded by the sender-a consumer reads the HP copier ad and interprets the words and illustrations it contains.
Term
Encoding
Definition
The process of putting through into symbolic form- HP’s advertising agency assembles words and illustrations into an advertisement that will convey the intended message
Term
Emotional appeal
Definition
attempt to stir up either negative or positive emotions that can motivate purchase such as love, pride, joy, and humor. Example: 85% of people like humorous ads;”safety and security”, after 9/11; Superbowl Ads
Term
Frequency
Definition
A measure of how many times the average person in the target market is exposed to the message
Term
Impact
Definition

The qualitative value of a message exposure through a given medium; Example: the same magazine in one magazine (Newsweek) may be more believable in another (national enquirer)

Term
Integrated marketing communications (IMC)-
Definition
Carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.
Term
Media
Definition
The communication channels through which the message moves from sender to receiver—in this case,the specific magazines that HP selects.
Term
Message
Definition

The set of symbols that the sender transmits—the actul HP coper ad.

Term
Noise
Definition
The unplanned static or distortion during the communication process,which results in the reciever’s getting a different message than the one the sender sent-the consumer is distracted wile reading the magazine and misses the HP ad or its key points
Term
Nonpersonal communication channels
Definition
Media that carry messages without personal contact or feedback,including major media,atmospheres, and events.
Term
Objective-and-task method
Definition
developing the budget by 1.)defining specific objectives;2.)determining the tasks that must be performed to achieve these objectives; 3.) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.
Term
Percentage-of-sales method
Definition
Setting the promotion budget at a certain percentage of current or forecasted sales as a percentage of the unit sales price
Term
Personal communication channels
Definition

channels through which two or more people communicate directly with each other,including face to face, on the phone,through mail or e-mail,or even through an Internet “chat”.

Term

Promotion mix (marketing communications mix)-

Definition
The specific blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships.
Term

Public relations (PR)

Definition
Building good relations with the company’s various publics by obtaining favorable publicity, building a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Term
Rational appeal
Definition
relate to the audience’s self-interest; They show that the product will produce the desired benefits. Examples: messages showing a product’s quality, economy, value, or performance; Tylenol run ads that inform customers about pain relievers and why Tylenol is the best choice
Term
Reach
Definition
A measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time
Term
Sales promotion
Definition

Short-term incentives to encourage the purchase or sale of a product or service

Term

Word-of-mouth (WOM)

Definition
Personal communication about a product between target buyers and neighbors, friends, family members, and associates.
Term
Advertising agency
Definition

A marketing services firm that assists companies in planning, preparing, implementing, and evaluating all r portions of their advertising programs

Term
Advertising budget
Definition
The dollars and other resources allocated to a product or company advertising program
Term
Advertising media
Definition
The vehicles through which advertising messages are delivered to their intended audiences
Term
Advertising objective
Definition
A specific communication task to be accomplished with a specific target audience during a specific period of time
Term
Advertising strategy
Definition
The strategy by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media
Term
Continuity
Definition
scheduling ads evenly within a given period
Term
Creative concept
Definition
The compelling “big idea” that will bring the advertising message strategy to life in a distinctive and memorable way
Term
Communication effects  (of advertising)-
Definition
a way of evaluating a type of advertising result which tells whether the ads and media are communicating the ad message well.
Term
Execution style
Definition
The approach, style, tone, words, and format used for executing an advertising message.
Term

Madison & Vine

Definition
A term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching consumers with more engaging messages
Term
Pulsing
Definition
scheduling ads unevenly over a given time period
Term
Sales and profits effects (of advertising)-
Definition
A way of evaluating advertising effectiveness by comparing past sales and profits with past expenditures or through past experiments
Term
Advertising specialties
Definition
AKA promotional products; Useful articles imprinted with an advertiser’s name, logo, or message that are given as gifts to consumers; Example: Tshirts,pens,coffee mugs,calenders,key rings,etc; US marketers spent more than 18 billion last year on these
Term
Allowance
Definition
offered by manufacturer’s in return for the retailer’s agreement to feature the manufacturer’s products in some way. It compensates retailers for advertising the product. A display allowance compensates them for using special displays
Term
Business promotion tools
Definition
sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople.
Term

Cash refund offer (rebate)

Definition

similar to coupons; the price reduction occurs after the purchase rather than at the retail outlet; consumer sends a “proof of purchase” to the manufacturer who then refunds part of the purchase price by mail

Term
Closing
Definition
The step in the selling process in which the salesperson asks the customer for an order
Term
Commission
Definition
a fee for services rendered based on a percentage of an amount received or collected or agreed to be paid (as distinguished from a salary)
Term
Consumer promotion tools
Definition
Sales promotion tool used to urge short-term customer buying or to enhance long-term customer relationships
Term
Coupon
Definition
certificates that give buyers a saving when they purchase specified products
Term
Discount
Definition
a straight reduction in price on purchases during a stated period of time
Term
Handling objections
Definition
The step in the selling process in which the salesperson seeks out, clarifies and overcomes customer objections to buying
Term
Inside sales force
Definition
Inside salespeople who conduct business from their offices via telephone, the Internet, or visits from prospective buyers
Term
Outside sales force (or field sales force)
Definition

Outside salespeople who travel to call on customers in the field

Term
Personal selling
Definition
Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships
Term
Point-of-purchase (POP) promotion
Definition

displays and demonstrations that take place at the point of sale; Example: isle displays, promotional signs, free food sampling

Term
Premium
Definition
goods offered either free or at low cost as an incentive to buy a product, ranging from toys included with kids’ products to phone cards and DVDs. Premiums come either in the package, outside the package, or through the mail; Example: a free toy car inside apple jacks; pop up tent by mailing in 2 upc symbols from cereal box along with a check for 9.99
Term
Product sales force
Definition
A sales force organization under which salespeople specialize in selling only portion of the company’s products or lines
Term
Prospecting
Definition
The step in the selling process in which the salesperson identifies qualified potential customers
Term
Sample
Definition

offers of a trial amount of a product; the most effective but most expensive way to introduce a new product or to create new excitement for an existing one

Term
Qualifying
Definition
how to identify the good ones and screen out the poor ones; qualifications are based on financial ability, volume of business, special needs, location, and possibilities for growth
Term
Sales force management
Definition
The analysis, planning, implementation, and control of sales force activities. It includes designing sales force strategy and structure and recruiting, selecting, training, supervising, compensating, and evaluating the firm’s salespeople
Term
Sales promotion
Definition
short-term incentives to encourage the purchase or sale of a product or service; reasons to buy NOW not just reasons to buy, as in advertising promotions
Term

Sales quota

Definition
A standard that states the amount a salesperson should sell and how sales should be divided among the company’s products
Term
Salesperson
Definition

An individual representing a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

Term
Selling process
Definition
The steps that the salesperson follows when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing,and follow-up
Term
Team selling
Definition
Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts
Term
Territorial sales force structure
Definition
A sales force organization that assigns each salesperson to an exclusive geographic territory in which that sales person sells the company’s full line
Term
Brick-and-mortar companies
Definition
A traditional streetside business that deals with its customers face to face in an office or store that the business owns or rents. Web based businesses usually have lower costs and greater flexibility than these. . Example: local grocery store and the corner bank
Term
Business-to-business (B2B) online marketing
Definition
Using B2B Web sites, e-mail, online product catalogs, online trading networks, and other online resources to reach new business customers serve current customers more effectively, and obtain buying efficiencies and better places
Term
Business-to-consumer (B2C) online marketing
Definition

Selling goods and services online to final consumers

Term
Catalog marketing
Definition
Direct marketing through print, video, or electronic catalogs that are mailed to select customers, made available in stores, or presented online.
Term
Click-and-mortar companies
Definition
Traditional brick-and-mortar companies that have added online marketing to their operations
Term

Click-only companies-

Definition
The so-called dot-coms, which operate only online without any brick-and-mortar market presence
Term
Consumer-to-business (C2B) online marketing
Definition
Online exchanges in which consumers search out sellers, learn about their offers, and initiate purchases, sometimes even driving transaction terms
Term
Consumer-to-consumer (C2C) online marketing
Definition
Online exchanges of goods and information between final consumers
Term
Corporate web site
Definition
A website designed to build customer goodwill and to supplement other sales channels, rather than to sell the company’s products directly
Term
Direct-mail marketing
Definition
Direct marketing by sending an offer, announcement, reminder, or other item to a person at a particular address
Term
Direct marketing
Definition

Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.

Term
Direct-response television marketing
Definition
Direct marketing via television, including direct-response television advertising (or infomercials) and home shopping channels
Term
Internet
Definition
A vast public web of computer networks that connects users of all types all around the world to each other and to an amazingly large “information repository”
Term
Kiosk marketing
Definition
information and ordering machines which are placed in stores, airports, and other locations; also used by business marketers; Example: in-store kiosks for Kodak allowing customers to print pictures from their digital cameras using a memory stick
Term
Marketing web site
Definition

A website that engages consumers in interactions that will move them closer to a direct purchase or other marketing outcome

Term
Online advertising
Definition
Advertising that appears while consumers are surfing the web, including display ads (banners, interstitials, pop-ups),search related ads, online classifieds, and other forms.
Term
Online marketing
Definition
Company efforts to market products and services and build customer relationships over the Internet
Term
Spam
Definition
Unsolicited, unwanted commercial e-mail messages
Term
Phishing
Definition
a type of identity theft that uses deceptive emails and fraudulent websites to fool users into divulging their personal data
Term

Telephone marketing (Telemarketing)

Definition
Using the telephone to sell directly to customers
Term
Viral marketing
Definition
The internet version of word of mouth marketing—websites-mail messages, or other marketing events that are so infectious that customers will want to pass them along to friend
Term
Adapted marketing mix
Definition
An international marketing strategy for adjusting the marketing mix elements to each international target market, bearing more costs but hoping for a larger market share and return
Term
Communication adaptation
Definition
A global communication strategy of fully adapting advertising messages to local markets
Term
Contract manufacturing
Definition
a joint venture in which a company contracts with manufacturers in a foreign market to produce the product or provide its service
Term
Direct investment
Definition

Entering a foreign market by developing foreign based assembly or manufacturing facilities

Term
Economic community
Definition
A group of nations organized to work toward common goals in the regulation of international trade
Term
Exporting
Definition
Entering a foreign market by selling goods produced in the company’s home country,often with little modification
Term
Embargo
Definition
the prohibition of commerce and trade with a certain country, in order to isolate it and to put its government into a difficult internal situation;A government order prohibiting the entry or departure of commercial vessels or goods at its ports.
Term
Global firm
Definition

A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors

Term
Joint ownership
Definition
A joint venture in which a company joins investors in a foreign market to create a local business in which the company shares joint ownership and control
Term
Joint venturing
Definition
Entering foreign markets by joining with foreign companies to produce or market a product or service
Term
Licensing
Definition
A method of entering a foreign market in which the company enters into an agreement with a licensee in the foreign market, offering the right to use a manufacturing process,trademark,patent,trade secret or other item of value for a fee or royalty.
Term
Product adaptation
Definition

Adapting a product to meet local conditions or wants in foreign markets

Term
Quota
Definition
Limits on the amount of foreign imports that they will accept in certain product categories
Term
Standardized marketing mix
Definition
An international marketing strategy for using basically the same product,advertising,distribution channels, and other elements of the marketing mix in all the company’s international markets
Term
Tariff
Definition
taxes on certain imported products designed to raise revenue or to protect domestic firms