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Chapter 14
one to one
41
Marketing
Undergraduate 2
12/10/2012

Additional Marketing Flashcards

 


 

Cards

Term
slotting allowance
Definition
fee paid to put product on retailer shelf
Term
merchandise allowance
Definition
incentive to get retailers to support product
Term
case allowance
Definition
discount for items purchased during particular period of time
Term
co-op advertising
Definition
manufacturer and retailer work together on an advertisement that is mutually beneficial
Term
Trade shows
Definition
industry level, buyers, and sellers come together
Term
promotional products
Definition
branded items companies give away for free (stress balls, pens)
Term
point of purchase display
Definition
provide all info at the time of decision (very simple or elaborate)
Term
incentive program
Definition
aimed at a company's own sales force
Term
push money
Definition
used to motivate sales force to sell a particular product
Term
Direct Marketing
Definition
any direct communication to a consumer or business recipient designed to generate a response
Term
3 types of responses
Definition
order
request for more info
visiting business
Term
4 forms of direct marketing INSERT GRAPH
Definition
[image]
Term
2 mail order types
Definition
catalog-2/3 order from them
direct mail
Term
Telemarketing
Definition
more effective ofr business custoers because they have to pick up the phone
Term
Direct response tv
Definition
short commercials, infomercials, and home shopping channels
Term
M-commercd
Definition
promotional and other e-commerce activities transmitted over mobile devices
Term
Personal Selling
Definition
more expensive on a cost per contact basis
Term
6 types of sales jobs INSERTGRAPHHERE
Definition
[image]
Term
order taker
Definition
waits for customer to initiate transaction
Term
technical specialist
Definition
assist or support the selling effort
Term
missionary salespeople
Definition
stimulate clienty to buy (pharm drug rep)
Term
new business salespeopl
Definition
broad term for someone who creates new customers
Term
Order getter
Definition
directly responsible for particlar client
Term
team selling
Definition
cross functional team brings in experts from different areas to sell product
Term
Transactional Selling
Definition
high pressure
form of personal selling that focuses on making an immediate sale, very little concern for relationship
Term
relationship selling
Definition
process of building long term customers by developing mutually satisfying relationships
1. secure
2. develop
3. maintain
Term
7 steps in creative selling process INSERTGRAPHERE
Definition
[image]
Term
Step 1: Prospect and qualify
Definition
prospect-develop list of potential customers
qualify-determine how likely a lead will become customer
Term
Step 2: Preapproach
Definition
do research before interview or meeting
Term
Step 3: Approach
Definition
contact the prospect and find common ground
Term
Step 4: Sales presentation
Definition
laying out benefits and added value of a firms product/service
Term
Step 5: handle objections
Definition
anticipate why a prospect is reluctant to make a commitment and responding with additional information o persuzusive argyments
Term
Step 6: Close sale
Definition
last objection close-ask if they're ready to buy and address concerns
assumptive close-act as if purchase is inevitable (what color do you want?)
standing room only-lose opportunity of you don't act today
Term
Step 7: Follow Up
Definition
arrange for delivery and payment
Term
4 steps of salesforce management INSERTGRPAHIC HERE
Definition
[image]
Term
Step 2: sales force strategy
Definition
establish size of force find those who specialize,
Term
straight commission plan
Definition
percentage of sales (does not encourage non selling activities)
Term
commission with draw plan
Definition
helps out on bad months
Term
commission plus base plan
Definition
small salary in addition to percentage of sales
Term
straigh salary plan
Definition
paid set amount regardless of performance
Term
quota bonus plan
Definition
paid salary but receive bonuses when exceeding certain levels
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