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Unit 3 Exam
Chapters 13, 14, 15, 16, 17, 18
195
Marketing
12/04/2011

Additional Marketing Flashcards

 


 

Cards

Term
Promotion
Definition
Communications by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an option or elicit a response
Term
The Americans for Balanced Energy Choices have spent $1.3 million on billoard, newspaper, television, and radio ads to rally support for coal-fired electricity. The council has developed a(n) ________ that sets out how it will use all of the elemnts of the promotional mix to create a coordinated plan that will become an integral part of the organization's marketing stratey.
Definition
promotional strategy
Term
Promotional Strategy
Definition
A plan for the optimal use of the elements of promotion: advertising, public relations, and personal selling
Term
Competitive Advantage
Definition
one or more unique aspects of an organization that cause customers to patronize that firm rather that it's competitors
Term
Competitive advantage includes
Definition
high product quality
rapid delivery
low prices
excellent service
unique features
Term
Marketing Communication
Definition
the process by which we exchange or share meanings through a common set of symbols
Term
what are the 2 categories of communication?
Definition
Interpersonal communications- between 2 or more people

Mass Communications- use some channel to convey a message to a large group of people (billboard, commercial)
Term
As Senders we:

As receivers we:
Definition
Sender:
inform
persuade
remind

Receiver:
Develop messages
adapt messages
spot new communication opportunities
Term
Sender
Definition
marketer needs to identify who, what, and how to send message
Term
The Communication Process
Definition
Sender-Encoding Message- Message Channel-decoding message- receiver- feedback channel
Term
Encoding Message
Definition
Make conscious choices as to how to convey a message

Limited to which channels to use

Ex. Like to use music and printed infor and maybe a voiceover to make people cry
Term
Message Channel
Definition
Web
Television
Newspaper
Radio
Term
Decoding Message
Definition
Customer interprets commerical
react to the message
people decode differenty and marketers can't control it
Term
Receiver
Definition
People who recieve information

may not have been the target market but they receive it anyways
Term
Noise
Definition
Anything that distracts you from receiving the message

driving, working, being hungry, tired, bored, etc.
Term
The Marketing campaign for Purina One dog food uses posters in vet's offices, radio and television ads, and web site to promote benefits of the dog food. In terms of the communication process, Purina One used several different:
Definition
Channels (media)
Term
Corporate Blogs
Definition
Sponsored by a company or one of its brands and maintained by one or more of the company's employees
Term
Noncorporate Blogs
Definition
Independent and not associated with the marketing efforts of any particular company or brand

tend to believe more of these blogs b/c they're not associated with the company
Term
Goals of Promotion:
Definition
Informing:
PLC stages- introduction and early growth

Persuading:
PLC Stages- Maturity

Reminding:
PLC Stages- Growth and maturity
Term
When Heinz introduced ketchup globally, it first had to deal with the fact ketchup is not a household staple outside the United States. Heinz had to show foreign users how ketchup can be used. Globally, Heinz has had to rely primarly on ______ advertising to convince consumers to want the product
Definition
Informative
Term
Informative Promotion
Definition
Increases awareness
Explains how product works
Suggests new uses
Build Company Image
Term
Persuasive Promotion
Definition
Encouraging brand switching

change customers perceptions of product attributes

Influence immediate buying decision

persuade customers to call
Term
Reminder Promotion
Definition
Remind customer that product may be needed

remind customers where to buy product

maintain customer awareness
Term
The Promotional Mix
Definition
Combination of promotion tools used to reach the target market and fulfill the organization's overall goals
Term
Advertising
Definition
any form of impersonal (one-way) paid communication in which the sponsor or company is identified
Term
Traditional media includes
Definition
televison
radio
newspapers
magazines
books
direct mial
billboards
transit cards
Term
Newer Media consists of:
Definition
Internet
Banner Ads
Viral Marketing
E-Mail
Interactive Video
Term
Public Relation
Definition
The marketing function the evaluates public attitutdes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance

anything that a compnay does to communicate in negative or positive situations (event planning, writing press releases, going out and having dinner with big donors, etc)
Term
Functions of Public Relations
Definition
Maintain a positive image
educate the public about the company's objectives
introduce new products
suppor the sales effort
generate favorable publicity
Term
Sales Promotion
Definition
Marketing Activities- other than personal selling, advertising, and public relations- that advertise and make you want to buy now

End Comsumers- Free samples and contests

Company Employees: Premiums and trade shows

Trade Customers: Vacation Giveaways and coupons
Term
Personal Selling
Definition
A purchase situation involving a personal, paid-for communication between at least 2 people in an attempt to influence each other.

Traditional Selling: Transactional sale, as soon as they purchase, you forget about them)

Relationship Selling: remember customers and things they like/dislike
Term
Promotion of a brand like Bounce fabric softener includes advertising, sales promotion, and public relations. To successfully launch it's new product that attaches to the inside of the dryer and dispenses fabric softener, marketers of this brand need to coordinate all the promotional elements to assure consistency of the message at every contact point where a compnay needs the consumer. In other words, the marketers of BOunce would need to use:
Definition
Integrated Marketing Communications
Term
Integrated Marketing Communications
Definition
The careful coordination of all promotional messages to assure the consistency of messages at every contact point where a company meets the consumer

Ex. NW colors are Green and black (don't make online red and black just because you feel like it, it has to stay cnosistent)

Coca cola always uses red, never goes purple
Term
IMC popularity growth
Definition
Proliferation of thousands of media choices

Fragmentation of the mass market

Slash of advertising spending in favor of promotional techniques that generate immediate repsonse
Term
What other things impact promotion?
Definition
Nature of the product (find a sales person to tell about the benefits of certain product)

Stage in Product life cycle

Target market factors

Type of buying decision

Promotion Funds

Push or pulls strategy
Term
Type of Buying decision
Definition
Routine: (buying gum in the checkout line)
Advertising and sales promotion

Complex:(buying a new car, choosing which college to go to)
Advertising and public relations

Neither Routine nor Complex:
Personal Selling
Print Advertising
Term
Available promotional funds rely on:
Definition
trade-offs with funds available
number of people in target market
quality of communication needed
Relative costs of promotional elements (Expensive)
Term
Push Strategy
Definition
Manufacturer promotes to wholesaler
Wholesaler promotes to retailer
retailer promotes to consumer
consumer buys from retailer
Term
Pull Strategy
Definition
Manufacturer promotes to consumer
Consumer demands product from retailer
Retailer demands product from wholesaler
Wholesaler demands product from manufacturer
Term
The manufacturer of RObitussin Cough and cold medicin provides sturdy displays for retailers, such as Walgreen's, Kroger, and Wal-Mart, to help merchandise all the Robitussin products consumers might need for the cold and flu season. Robitussin is using a(n) _________ promotional Strategy
Definition
Push
Term
An ad for a prescription- onlyu antihistamine that does not make it's users sleepy like many other allergy medications was run in several health and fitness magazines. The ad said that if you were interested in learninmg more about the new product or trying it out, you should ask your physician. THe manufacturer of the drug was using a ___________ promotional strategy
Definition
pull
Term
The effects of advertising
Definition
In recent years, 30 companies spent over $1 Billion each

the advertising and marketing services employ approximately 750,000 people

ad budgets of some firms are almost $4 Billion annually

Term
Advertising and marketing Share
Definition
New brands with a small market share spend proportionally more for advertising and sales promotion than those with a large market share

(beyond a certain level of spending, diminishing returns set in--- new brands require a higher speed to reach a minimum level of exposure needed to affect purchase habits.
Term
The effects of advertising on consumers
Definition
The average U.S. citizen is exposed to hundreds of ads each day

adverising may change a consumer's negative attitude toward a product, or reinforce a positive attitude

Advertising can affect consumer raking of a brand's attributes
Term
Procter and Gamble has run ads that promote it's Children's Safe Drinking Water program in which it shows its employess teaching people around the world how to purify their water. The program was instituted because 5,000 children die every year from diseases caused by unsafe water. These ads are examples of ___________ advertising
Definition
institutional adverising
Term
Institutional Advertising
Definition
Enhances a company's image rather than promotes a particular product

Corporate identity
Advocacy Advertising
Term
Advocacy Advertising
Definition
Something they feel strongly about in the world

ex. Breast Cancer awareness, habitat for humanity, project red
Term
Product Advertising
Definition
Touts the benefits of a specific good or service

Pioneering
competitive
comparative
Term
Instead of sending artfully arranged flower bouquets, an entrepreneur has developed fresh fruit boquets and is marketing them under the name Edible ARrangements. The premium fruit is cut to mimic flowers, arranged in a basket, and carefuly delivered to the recipients home. One of the problems is convincing people that it is not a novelty product, but an attractive way to show how you feel about someone. Edible Arrangements will be using __________ advertising to promote it's fruit bouquets
Definition
Pioneering
Term
Verison Runds Ads that have a map floating over cellphone user's heads showing where they have 3G netowrk capabilities, and the red coloring on the map shows that verison's coverage is most everywher in teh US. The ads also show an unfortunate AT&T customer with a blue-shaded map showing much less 3G network coverage throughout the U.S. Verison is using ________ advertising
Definition
Comparative (takes your product and compares it to your competitor)
Term
Pioneering
Definition
Stimulates primary demand for new product category

used in the PLC introductory stage
Term
Competitive
Definition
Influences demand for brand in the growth phase of the PLC

Often uses emotional appeal
Term
Comparative
Definition
Compares two or more competing brands, product attributes

used if growth is sluggish or if competition is strong
Term
Monitored Media
Definition
If it's important that you nkow how many people saw your add you use this

Counted by some outside entity

Neilson Ratings is the way to monitor who watched show, gender, ethnicity, age

ARbitron

Subscriptions- can tell how many were sold at retail store
Term
Unmonitored Media
Definition
Not an entity that tells everyone how many coupons are being redeemed, for example

Not really important to have a count
Term
Major Advertising Media
Definition
Newspapers
Magazines
Radio
Television
Outdoor Media
Yellow Pages
Internet
Alternative (i.e. videogame, cell phones, etc.)
Term
Advantages and disadvantages of Newspapers
Definition
Advantages:
Geographic-selectivity
short-term advertiser commitments
news value and immediacy
year-round readership
High individual market coverage
Co-op and local tie-in availability
Short lead time

Disadvantages:
Limited demographic selectivity
limited color
low pass-along rate
may be expensive

Term
Cooperative Advertising
Definition
an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand
Term
Advantages and disadvantages of magazines
Definition
Advantages:
Good reproduction
demographic selectivity
regional/local selectivity
long advertising life
high pass-along rate

Disadvantages:
Long-term advertiser commitments
slow audience build-up
limited demonstration capabilities
lack of urgency
long lead time
Term
Advantages and disadvantages of the radio
Definition
Advantages:
Low cost
immediacy of message
short notice scheduling
no seasonal audience change
highly portable
short term advertiser commitments
entertainment carryover

Disadvantages:
No visual treatment
short advertising life
high frequency to generate comprehension and retention
background distractions
commercial clutter
Term
Advantages and disadvantages of Television
Definition
Advantages:
Wide, diverse audience
low cost per thousand
creative opportunities for demonstration
immediacy of messages
entertainment carryover
demographic selectivity with cable

Disadvantages:
Short life of message
consumer skepticism
high campaign cost
little demographic selectivity with stations
long-term advertiser commitments
long lead times for production
commercial clutter
Term
TV Advertising: is less more?
Definition
The number of ads in TV shows is a long standing complaint of viewers and advertisers

tests are being conducted to feature shorter commerical pods

a significant trend to affect television advertising is the rise in popularity of digital video recorders (DVRs) such as TiVo
Term
Advantages and disadvantages of Outdoor media
Definition
Advantages:
repetition
moderate cost flexibility
geographic selectivity

Disadvantages:
Short message
lack of demographic selectivity
high noise level
Term
Advantages and disadvantages of internet
Definition
Advantages:
fast growing
ability to reach narrow target audience
short lead time
moderate cost

Disadvantages:
Difficult to measure ad effectiveness and ROI
ad exposure relies on "click through" from banner ads
not all consumers have access to internet
Term
Alternative advertising
Definition
Videogame advertising
cell phones

newest advertising media
useful for reaching youth market
over 4 billion cell phone users in the world
Growing area
Term
All of the following are true regarding stealth marketing EXCEPT:

-It is also known as guerrilla marketing

-It is any unconventional way of performing marketing promotion

-Usually done on a low budget

-The target audience is unaware they have been marketed to

-Doesn't generate buzz
Definition
-DOESN'T GENERATE BUZZ
Term
Public Relations
Definition
The elements in the promotional mix that:
evaluate public attitudes
identify issues of public concern
Execute programs to gain public acceptance
Term
Functions of public relations
Definition
Press relations
Product Publicity
Corporate COmmunication
Public Affairs
Lobbying
Employee and Investor Relations
Crisis Managment
Term
Press Relations
Definition
Need to talk to the press

provide answers to the press if asking different things
Press conference or interviews
Not only negative, but positive too
Term
Product Publicity
Definition
Outside company events

good if good, and awful if bad

if good news story, it's better than any advertising you could make

bad publicity is awful because it's outside the company; otuside your control

managing publicity is PR responsibility
Term
Corporate Communication
Definition
If something inside company; history of company; talk to press; talk to other schools

make sure internal people know everything

get e-mail to let know what's going on, on campus every week
Term
Public Affairs
Definition
How we impact our community; relationship with community

make sure the community is aware of it

if company is going to expand operations, make sure town is aware of it

if impact traffic patterns; make sure people know
Term
Lobbying
Definition
Mostly seen/ talked about as a bad thing but it can be good too

Talk to legislature on behalf of company so they have our side of the story

nature of lobbying itself is to present the information
Term
Employee and Investor Relations
Definition
Make sure employees are happy

bearcat bookstore; NW employees got 20% off holiday shopping day

the little things; free t-shirt, etc.

investment in employees
Term
Crisis Management
Definition
When things to bad

handling bad situations
BP oil spill; BAD handling of public relations

people really watch what people say during crisis situations

Penn State-current coach is talking to pres and maybe he shouldn't if PR was actually controlling it

having a situation controlled as part of PR managers positions
Term
Stormbreakers, a spy movie, details the story of Alex Rider who, after the death of his uncle, is recruited as a M16 spy. Armed with a special set of gadgets, Rider's mission is to save millions of lives. In James Bond fashion, the Cross pen serves as one of the key gadgets in the film. The maker of Cross pen paid to have it's pen featured in this movie. This is an example of:
Definition
Product Placement
Term
Is product placement and advertising synonnomous terms?
Definition
NO. Product placement is NOT advertising. It is a product of public relations
Term
Public Relations Tools
Definition
New product publicity
product placement
consumer education
sponsorship
web sites
Term
Example of consumer education
Definition
Corporations are teaching public school students about personal finance

people under age 25 are a fast growing group for credit card debt increases and bankruptcy

it is appropriate to use educational materials with corporate identity/

how should financial literacy be taught

balancing financial with educational
Term
A news story on the bonuses received by executives of a bank that received bailout money from the Federal government is an example of:
Definition
Publicity
Term
Managing unfavorable publicity
Definition
crisis managment

(a coordinated effort to handle the effects of unfavorable publicity or an unfavorable event)
Term
Public relations
Definition
originates with the company

new product publicity
product placement
consumer education
sponsorship
web sites
Term
Publicity
Definition
may or may not originate with the company
Term
Advertising vs sales promotion
Definition
Advertising: reason to buy

sales promotion: incentive to buy (cyber monday)
Term
what is the goal of sales promotion?
Definition
drive immediate purchase and influence behavior

very time sensitive
Term
Sales promotion influences _________ NOT _________!
Definition
Sales Promotion influenes BEHAVIOR not ATTITUDE!
Term
Tools for consumer sales promotion
Definition
Coupons
rebates
premiums
Loyalty marketing programs
contests and sweepstakes
sampling
point of purchase promotion
Online Sales Promotion
Term
Coupons
Definition
Are redeemed at the time of purchase

a certificate that entitles consumers to an immediate price reduction
Term
Rebates
Definition
ARe redeemed after purchase

a cash refund given for the purchase of a product during a specific period
Term
Premiums
Definition
An extra item offered to the consumer, usually in exchange for some proof of purchase

buying something and getting something else free to go with it
Term
Loyalty Marketing Programs
Definition
A promotional program designed to build long-term, mutually beneficial relationships between a company and key custmoers

(frequent buyer program- a loyalty program in whic loyal consumers are rewarded for making multiple purchases
Term
Contests and Sweepstakes
Definition
Contests: Promotions that require skill or ability to compete for prizes

sweepstakes: promotions that depend on chance or luck, with free participation
Term
Sampling
Definition
A promotional program that allows the consumer the opportunity to try product or service for free

methods of sampling include:
Direct mail
door to door delivery
packaging with another product
retail store demonstration
Term
Point of purchase promotion
Definition
Build traffic
advertise the product
induce impulse buying (cool display for a product)
Push promotion
Term
Online Sales Promotion
Definition
Free merchandise
sweepstakes
free shipping with purchases
coupons
Term
All of the following statments describe an advantage of personal selling over other forms of promotion EXCEPT:

-Personal selling is less expensive on a per contact basis
Person selling is better for providing customers with detailed demonstrations of products

it is easier to vary the message according to what the customer needs to know with personal selling

it is easier to direct the marketing effort to directly to qualified prospects with personal selling
Definition
PERSONAL SELLING IS LESS EXPENSIVE ON A PER CONTACT BASIS
Term
Personal Selling is more important if:
Definition
Product is a high value
product is custom made
there are a few customers
product is technically complez
customers are concentrated
Term
Advertising and sales promotions are more important if:
Definition
Product has a low value
product is standardized
There are many customers
product is simple to understand
Customers are geographically dispersed
Term
Relationship (consultative) selling
Definition
A sales practice that involves building, maintainting, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerhips
Term
Traditional Sales Vs Relationship Sales
Definition
Traditional Sales:
Initial Sales
Repeat Sales

Relationship Sales:
Initial Sales
Repeat Sales
Successive Sales
Term
Needs Assessment
Definition
a determination of a customer's specific needs and wants and the range of options a customer has for satisfying them
Term
A consulatative Salesperson must know everything about:
Definition
product or service
customers
compeition
industry
Term
Cold Calling
Definition
A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospect's needs or financial status
Term
Handling objectives
Definition
view objectives as requests for information

anticipate specific objections

investigate the objection with the customer

be aware of competitor's products

stay calm

use the objection to close the sale

Term
Closing the sale
Definition
Look for customer signals

keep an open mind

negotiate

tailor to each market
Term
_________ is communications by marketers that inform, persuade, and remind potential buyers of a product in order to influence an opinion or elicit a response
Definition
promotion
Term
2. Communication to large audiences, usually through a medium such as television or a newspaper, is called ____________ communication.
Definition
mass
Term
3. The __________ is the originator of the message in the communication process
Definition
sender
Term
4. __________ is any form of impersonal (one way) paid communication in which the sponsor or company is identified
Definition
advertising
Term
5. A manufacturer using the __________ promotional strategy focuses its promotional efforts on the consumer
Definition
pull
Term
6. _________ is any form of impersonal, sponsor-paid, one-way mass communication
Definition
Advertising
Term
Unlike advertising that establishes or maintains a company's identity, ________ advertising touts the benefits of a specific good or service
Definition
product
Term
8. _________ is the collaboration and sharing of online content between the sender and the receiver-- the brand and the consumer
Definition
social media marketing
Term
9. Public information about a company, good, or service appearing in mass media as a news item is:
Definition
Publicity
Term
Which public relations tool involves a company spending money to support an issue, cause, or event that is consistent with corporate objectives?
Definition
sponsorship
Term
11. A plan for the optimal use of advertising, personal selling, sales promotion, and public relations is called a :

Definition
promotional strategy
Term
The two major categories of communications are:
Definition
mass and interpersonal.
Term
Anything that interferes with, distorts, or slows the transmission of information in the communication process is referred to as:
Definition
Noise
Term
The marketing funcion that evaluates public attitudes, identifies areas within the organization that are of the public interest, and executes a program of action to gain public understanding is:
Definition
public relations
Term
__________ is the careful coordination of all promotional activities to product a consistent, unified message that is customer focused
Definition
integrated marketing communications
Term
___________ advertising is designed to enhance a company's image rather than promote a particular product
Definition
institutional
Term
Which form of advertising involves an organization expressing it's views on controversial issues or repsponding to media attacks?
Definition
advocacy
Term
Ads on shopping carts at grocery store and in video games are examples of;
Definition
Alternative media
Term
Placing advertising messages in web-based or video games to advertise or promote a product, service, organization, or issue is known as:
Definition
Advergaming
Term
Which of the following is a public relations strategy that involves getting a product, service, or company name to appear in a movie or television show?
Definition
product placement
Term
________ is the process by which we exchange or share meanings through a common set of symbols. People also assign meaning to feelings, ideas, and attitudes
Definition
Communication
Term
Interpersonal communication is:
Definition
direct face-to-face communication between two or more people
Term
The person who decodes a message in the communication process is called the
Definition
receiver
Term
what are the three basic tasks of promotion?
Definition
informing, persuading, and reminding
Term
The use of aggressive personal selling and trade advertising by a manufacturer to convince a wholesaler or retailer to carry and sell it's merchandise is known as a ______ strategy
Definition
Push
Term
what type of advertising is used to stimulate demand for new product or product category?
Definition
pioneering
Term
which form of advertising is designed to influence demand for a specific brand?
Definition
competitive advertising
Term
___________ advertising compares two or more specifically names or shown competing brands on one or more specific attributes
Definition
comparative
Term
Which type of advertising is used to stimulate demand for a new product or product category?
Definition
Pioneering
Term
Which form of advertising is deesigned to influence demand for a specific brand?
Definition
competitive advertising
Term
____________advertising is an arrangement under which a manufacturer pays a percentage of the advertising cost for an ad that a retailer places for the manufacturer's brand
Definition
cooperative
Term
__________ is used by public relations specialists to handle the effects of unfavorable publicity
Definition
crisis managment
Term
_________ is the marketing communication acitivites in which a short-term incentive is offered to induce the purchase of a particular good or service
Definition
sales promotion
Term
A certificate that entitels consumer to an immediate price reduction when they buy the product is called
Definition
coupon
Term
__________ are promotional exhibits set up at the retailer's location to build traffic, advertise the product, or induce impulse buying. They are targeted to consumer
Definition
point of purchse displays
Term
____________ is direct communication between a sales representative and one or more prospecive buyers for the purpose of making a sale
Definition
personal selling
Term
RElationship selling:
Definition
emphasises a win-win outomc
Term
_______ is a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow memebers in professional or civic organizations
Definition
networking
Term
during the preapproach, the salesperson would:
Definition
learn as much as possible about the prospect's organization and it's buyers
Term
A ___________ is a written document or a professional presentation that oulines how a company's product will meet or exceed the client's needs
Definition
sales proposal
Term
When a salesperson asks for the sale, he or she is:
Definition
closing a sale
Term
Salespeople ensure that delivery schedules are met, that the good or service performs as promised, that buyers are trained in the use of the product. All of these functions are part of _________, the final step in the selling process
Definition
Follow up
Term
___________ is the marketing communication activities in which a short-term incentive is offered to induce the purchase of a particular good or service
Definition
sales promotion
Term
A(n) _________ is an extra item offered to the consumer, usually in exchange for some proof that the promoted product has been purchased
Definition
premium
Term
Which sales promotion tool allows the consumer the opportunity to try a product or service for free?/
Definition
sampling
Term
_________ is direct communicatino between a sales representative and one or more prospective buyers for the purpose of making a sale
Definition
personal selling
Term
the set of stops a salesperson goes through to sell a particular product is called th:
Definition
sales process
Term
________ involves of determining which sales prospects have a recognized need, buying power, and receptivity and accessibility
Definition
lead qualification
Term
A _______ is a written document or professional presnetation that outlines how a company's product will meed or exceed the client's needs
Definition
sales proposal
Term
When a salesperson asks for the sale, he or she si:
Definition
closing the sale
Term
___________ is the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement
Definition
Negotiation
Term
Sales people ensure that delivery schedules are met, that the good or service performed are as promised, and that buyers are trained in the use of the product. All of these functions are part of _______, the final step in trhe selling process
Definition
follow up
Term
________ is maketing communication activities in whicha short-term incentive is offered to induce the purchase ofa particular good or service
Definition
sales promotion
Term
Which type of consumer sales promotion rewards loyal customers for making multiple purchases of a particular good or service?
Definition
frequent buyer program
Term
_____ is direct communication between sales representative and one or more prospective buyers for the purpose of making a sale
Definition
personal selling
Term
__________ is the sales practice that involves, building, maintaining, and enhancing interactions with customers in order to develop long-term satisfcation through mutually beneficial partnerships
Definition
relationship selling
Term
_______, or prospecting, is the identification of those firms and people most liekly to buy the seller's offerings
Definition
lead generation
Term
The ___________ is a process that describes the homework that must be done by a salesperson before he or she contacts a prospect
Definition
pre-approach
Term
As part of the needs assessment, the consultative salesperson must learn everything there is to know about:
Definition
the prodcut her or she is selling
the customer and their needs
the competition
the industry in which he or she is selling
Term
A _______ is a written document or professional presentation that oulines how a company's product will meet or exceed the client's needs
Definition
sales proposal
Term
Which of the following is the lack of al lthe items a customer needs to receive full satisfaction from a product or products
Definition
discrepancy of assortment
Term
Which of the following intermediaries sell mainly to consumer?
Definition
retailers
Term
The three basic functions channel intermediaries perform are:
Definition
transactional, logistical, and facilitating
Term
__________ is the efficient and cost-effective forward and reverse flow and storage of goods, services, and related information, into, through, and out of channel member companies
Definition
logistics
Term
Which level of distribution intensity is the most restrictive and entails establishing only one or a few dealers within a given geographic area?
Definition
exclusive
Term
The capacity of a particular marketing channel member to control or influence the behavior of other channel members is known as:
Definition
channel power
Term
Which of the following is a key principle of supply chain managment that means multiple firms work together to perform tasks as a single unified system, rather than as several individual companies acting in isolation?
Definition
system's approach
Term
which of the following assists supply chain members in achieving measurement integration by assessing the costs associated with each supply chain activity?
Definition
activity-based costing
Term
_____ is the direct electronic transimssion, from computer to computer, of standard business forms between two organizations. When this technique is used, orders can become vitually paperless, and information about the order is vailable in both firms
Definition
electrona data interchange
Term
__________ are standar measures that can be used repeatedly to assess performance on a supply-chain process
Definition
metrics
Term
A discrepancy of ________ is the difference between the amount of product produced and the amount an end user wants to buy
Definition
quantity
Term
A ______ is an institution that buys goods from manufacturers, take title to these goods, and resells them to a business, government agencies, and/or other wholesalers or retailers
Definition
merchant wholesaler
Term
Agents and brokers:
Definition
do not take title to merchandise
Term
One configuration of a marketing channel entails producers selling to consumers with no intermediaries involved. this is called a
Definition
direct channel
Term
_______ is distribution aimed at maximum market coverage. It is used for many convenience goods and supplies that need to be available in every outlet where the potential customer might want to buy them
Definition
intensive distribution
Term
a channel leader is also called a
Definition
channel captain
Term
The connected chain of all the business entitles, both internal and external to the compnay, that perform or support he logistics function is known as the:
Definition
supply chain
Term
The standards set by measuring the best, quickest, and the most efficient work practices are called
Definition
benchmarks
Term
Which of the following technology is an automatic identification method that works with scanned bar codes to id products?
Definition
ratio frequency identification RFID
Term
Which of the following is the inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer?
Definition
Material requirement planning MRP
Term
A _______ discrepancy is created when a product is produced but a consumer is not ready to purchase it
Definition
temporal
Term
When an intermediary in the channel of distribution owns the merchanide and controls the term of the sale, this is referred to as
Definition
taking title
Term
_________ are wholesaling intermediaries who facilitate the sales of a product from producer to the end user by representing retailer, wholesalers, or manufacturers, and providing little input as to the term of the sale
Definition
agents and brokers
Term
____________ describes the processs of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption
Definition
logistics
Term
_______ distribution is achieved by screening dealers to estimate all but a few in any single geographic area. Shopping goods adn some specialty products that consumers are willing to search for are sold this way
Definition
selective
Term
A situation that occurs when one marketing channel member intentionally affects another members behavior is called
Definition
channel control
Term
__________ coordinates and integrates all of the activities erformed by channel emmbers intoa seamless process, from the source to the point of consumption resulting in enhanced customer and economic value
Definition
supply chain management
Term
All of the following activity groups are related closely to internal operations integration success except
Definition
standardication of work process across work groups
Term
All of the following are logistics components if the supply chain except
Definition
trade promotions
Term
Because supply chain management is concerned with the performance of all firms in the system simultaneously, any performance measurement system used to evaluate a supply chain must address both the chain itself and all of the processes and firms that added together compose it. One method used is called the:
Definition
balanced scorecard approach