Term
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Definition
| The internal response that customers have to all aspects of an organization and its offering |
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Term
| Customer Relationship Management (CRM) |
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Definition
| The process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the orqanization and its offerings so that buyers will choose them in the marketplace. |
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Term
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Definition
| The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. |
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Term
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Definition
| The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces. |
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Term
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Definition
| The trade of things of value between buyer and seller so that each is better off after the trade |
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Term
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Definition
| People with both the desire and the ability to buy a specific offering |
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Term
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Definition
| An organization that focuses its efforts on (1) Continuously collecting information about customers' needs, (2) sharing this information across departments, and (3) using it to create customer value |
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Term
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Definition
| The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large. |
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Term
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Definition
| The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals. |
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Term
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Definition
| The marketing manager's controllable factors -- product, price, promotion, and place -- that can be used to solve a marketing problem. |
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Term
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Definition
| A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. |
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Term
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Definition
| Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use of for resale. |
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Term
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Definition
| Linkw the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits. |
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Term
| Societal marketing concept |
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Definition
| The view that organizations should satisfy the needs of consumers in a way that provides for society's well-being |
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Term
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Definition
| One or more specific groups of potential consumers toward which an organization directs its marketing program. |
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Term
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Definition
| The people who use the goods and services purchased for a household. Also called consumers, buyers or customers. |
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Term
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Definition
| The benefits or customer value received by users of the product |
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Term
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Definition
| The clear, broad, underlying industry or market sector of an organization's offering. |
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Term
| Business Portfolio Analysis |
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Definition
| A technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) as though they were a collection of separate investments. |
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Term
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Definition
| A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation |
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Term
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Definition
| The fundamental, passionate, and enduring principles of an organization that guide its conduct over time. |
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Term
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Definition
| The level in an organization where top management directs overall strategy for the entire organization |
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Term
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Definition
| A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals. |
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Term
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Definition
| A tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products |
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Term
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Definition
| The level in an organization where groups of specialists actually create value for the organization |
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Term
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Definition
| Statements of an accomplishment if a task to be achieved, often by a specific time. also called "Objectives" |
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Term
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Definition
| Involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action. |
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Term
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Definition
| The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself/ |
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Term
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Definition
| The visual computer display of the essential information related to achieving a marketing objective. |
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Term
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Definition
| A measure of the quantitative value or trend of a marketing activity or result. |
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Term
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Definition
| A road map for the marketing activities of an organization for a specified future time period, such as one year or five years |
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Term
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Definition
| The means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it. |
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Term
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Definition
| Detailed day-to-day operational decisions essential to the overall success of marketing strategies |
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Term
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Definition
| A statement of the organization's function in society, often identifying its customers, markets, products, and technologies. Often used interchangeably with "vision" |
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Term
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Definition
| Statements of an accomplishment of a task to b achieved, often by a specific time. Also called "goals" |
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Term
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Definition
| The set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization. |
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Term
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Definition
| Those characteristics of a product that make it superior to competitive substitutes. |
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Term
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Definition
| The money left after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings |
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Term
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Definition
| The money left after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings |
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Term
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Definition
| Taking stock of where the firm or product hes been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. |
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Term
| Strategic Business Unit (SBU) |
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Definition
| A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers |
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Term
| Strategic Marketing Process |
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Definition
| The approach whereby an organization allocates its marketing mix resources to reach its target markets |
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Term
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Definition
| An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals |
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Term
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Definition
| An acronym describing an organization's appraisal of its internal Strengths Weaknesses and its external Opportunities and Threats |
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Term
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Definition
| A list of firms believed to be qualified to supply a given time |
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Term
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Definition
| The marketing of goods and services to companies, governments, pr not-for-profit organizations for use in the creation of goods and services that they can produce and market to others. |
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Term
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Definition
| Consists of three types of organizations buy that assist in providing other products for resale. Also called "B2B products", or "industrial products" |
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Term
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Definition
| The group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision. |
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Term
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Definition
| The demand for industrial products and services is driven by, or derived from, demand for consumer products and services |
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Term
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Definition
| Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products and services. also called "B2B exchanges" or "e-hubs" |
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Term
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Definition
| Standards for registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization (ISO) |
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Term
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Definition
| An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself. |
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Term
| North American Industry Classification System (NAICS) |
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Definition
| Provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) |
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Term
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Definition
| Those manufacturers, wholesalers. retailers, and government agencies that buy goods and services for their own use or for resale. |
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Term
| Organizational buying behavior |
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Definition
| The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers |
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Term
| Organizational buying criteria |
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Definition
| The objective attributes of the supplier's products and services and the capabilities of the supplier itself |
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Term
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Definition
| An industrial buying practice in which two organizations agree to purchase each others' products and services |
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Term
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Definition
| In an e-marketplace, it is an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other. |
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Term
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Definition
| The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers |
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Term
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Definition
| A relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer |
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Term
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Definition
| In an e-marketplace, it is an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other. |
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Term
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Definition
| A systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs |
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Term
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Definition
| A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. |
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Term
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Definition
| A consumer's subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people |
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Term
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Definition
| A favorable attitude toward and consistent purchase of a single brand over time |
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Term
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Definition
| The feeling of post-purchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives |
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Term
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Definition
| The group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware in the product class |
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Term
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Definition
| The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions |
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Term
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Definition
| The process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers |
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Term
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Definition
| Factors that represent both the objective attributes of a brand and the subjective ones a consumer uses to compare different products and brands |
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Term
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Definition
| The distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors. |
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Term
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Definition
| The personal, social, and economic significance of the purchase to the consumer |
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Term
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Definition
| Those behaviors that result from (1) repeated experience and (2) reasoning |
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Term
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Definition
| A mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them |
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Term
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Definition
| The energizing force that stimulates behavior to satisfy a need |
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Term
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Definition
| Individuals who exert direct or indirect social influence over others |
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Term
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Definition
| The anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences. |
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Term
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Definition
| The process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world |
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Term
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Definition
| A person's consistent behaviors or responses to recurring situations |
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Term
| Purchase decision process |
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Definition
| The 5 stages a buyer passes through in making choices about which products and services to buy: (1) problem recognition (2) information search (3) alternative evaluation (4) purchase decision and (5) post-purchase behavior |
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Term
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Definition
| People to whom an individual looks as a basis for self-appraisal |
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Term
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Definition
| The way people see themselves and the way they believe others see them |
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Term
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Definition
| The 5 aspects of the purchase situation that impacts the consumer's purchase decision process: (1) the purchase task (2) social surroundings (3) physical surroundings (4) temporal effects and (5) antecedent states |
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Term
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Definition
| The relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped |
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Term
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Definition
| Subgroups within the larger, or national, culture with unique values, ideas, and attitudes |
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Term
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Definition
| Seeing or hearing messages without being aware of them |
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Term
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Definition
| The influencing of people during conversations |
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Term
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Definition
| A list of firms believed to be qualified to supply a given item |
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Term
|
Definition
| The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others |
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Term
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Definition
| The generation of children born between 1946 and 1964 |
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Term
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Definition
| Business practices or conditions that make it difficult for new firms to enter the market |
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Term
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Definition
| A family formed by merging two previously separated units into a single household |
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Term
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Definition
| The alternative firms that could provide a product to satisfy a specific markets' needs |
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Term
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Definition
| A grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with insitiutions |
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Term
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Definition
| The set of values, ideas, and attitudes that are learned and shared among the members of a group |
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Term
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Definition
| Describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation |
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Term
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Definition
| The money that remains after paying for taxes and necessities |
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Term
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Definition
| Pertains to the income, expenditures, and resources that affect the cost of running a business and household |
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Term
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Definition
| Any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services |
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Term
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Definition
| The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
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Term
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Definition
| Includes the 15% of the population born between 1965 and 1975 |
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Term
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Definition
| Includes the 72 million Americans born between 1977 and 1994 |
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Term
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Definition
| The total amount of money made in one year by a person, household, or family unit. Also known as "money income" by the census bureau |
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Term
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Definition
| Information--and communication-- based on electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings |
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Term
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Definition
| Combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races |
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Term
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Definition
| Restrictions state and federal laws place on business with regard to the conduct of its activities |
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Term
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Definition
| An alternative to government control where an industry attempts to police itself |
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Term
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Definition
| The demographic characteristics of the population and its values |
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Term
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Definition
| Inventions or innovations from applied science or engineering research |
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Term
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Definition
| The concern for obtaining the best quality, features, and performance of a product to reduce purchasing costs |
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Term
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Definition
| In a decision, the restrictions placed on potential solutions to a problem |
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Term
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Definition
| The facts and figures related to the problem that are divided into two main parts: secondary data and primary data |
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Term
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Definition
| In a decision, the restrictions placed on potential solutions to a problem |
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Term
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Definition
| The extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions |
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Term
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Definition
| A conscious choice from among 2 or more alternatives |
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Term
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Definition
| Involves operating computer networks that can store and process data |
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Term
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Definition
| The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions |
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Term
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Definition
| Criteria or standards used in evaluating proposed solutions to the problem |
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Term
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Definition
| Facts and figures obtained by watching, either mechanically or in person, how people actually behave |
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Term
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Definition
| Facts and figures that are newly collected for the project |
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Term
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Definition
| Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors |
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Term
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Definition
| The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its won marketing efforts. Also called a "company forecast" |
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Term
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Definition
| Facts and figures that have already been recorded before the project at hand |
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Term
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Definition
| A concept that suggests 80% of a firm's sales are obtained from 20% of its customers |
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Term
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Definition
| A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization |
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Term
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Definition
| The relatively homogeneous groups of prospective buyers that result from the market segmentation process |
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Term
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Definition
| A means of displaying or graphing in 2D the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand to develop marketing actions to move its product or brand to an ideal position |
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Term
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Definition
| A marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products |
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Term
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Definition
| The place a product occupies in consumers' minds on important attributes relative to competitive products |
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Term
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Definition
| Changing the place a product occupies in a consumers' mind relative to competitive products |
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Term
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Definition
| The quantity consumed or patronage (store visits) during a specific period. also called "frequency marketing" |
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Term
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Definition
| occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products |
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Term
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Definition
| The legal concept of "let the buyer beware" that was pervasive in the American business culture prior to the 1960s |
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Term
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Definition
| A formal statement of ethical principles and rules of conduct |
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Term
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Definition
| A law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed to choose, and to be heard |
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Term
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Definition
| The clandestine collection of trade secrets for proprietary information about a company's competitors |
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Term
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Definition
| the moral principles and values that govern the actions and decisions of an individual or group. |
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Term
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Definition
| marketing efforts to produce, promote, and reclaim environmentally sensitive products |
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Term
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Definition
| society's values and standards that are enforceable in the courts |
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Term
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Definition
| a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome |
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Term
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Definition
| a systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility |
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Term
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Definition
| the idea that organizations are part of a larger society and are accountable to that society for their actions |
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Term
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Definition
| conducting business in a way that protects the natural environment while making economic progress |
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Term
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Definition
| the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long term growth |
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Term
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Definition
| a personal moral philosophy tht focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behavior |
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Term
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Definition
| employees who report unethical or illegal actions of their employers |
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Term
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Definition
| the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors |
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Term
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Definition
| the difference between the monetary value of a nation's exports and imports |
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Term
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Definition
| the largest but poorest socioeconomic group of people in the world |
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Term
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Definition
| the tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products |
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Term
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Definition
| the practice of using barter rather that money for making global sales |
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Term
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Definition
| the study of similarities and differences among consumers in two or more nations or societies |
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Term
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Definition
| things that represent ideas and concepts |
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Term
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Definition
| the price of one country's currency expressed in terms of another country's currency |
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Term
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Definition
| what is considered normal and expected about the way people do things in a specific country |
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Term
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Definition
| a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division |
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Term
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Definition
| when a firm sells a product in a foreign country below its domestic price or below its actual cost |
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Term
| Economic Espionage Act(1996) |
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Definition
| A law that makes the theft off trade secrets by foreign entities a federal crime in the United States |
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Term
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Definition
| a global market-entry strategy in which a company produces goods in one country and sells them in another country |
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Term
| Foreign Corrupt Practices Act(1977) |
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Definition
| A law, amended by the international Anti-dumping and fair competition Act (1998), that makes it a crime for US corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country |
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Term
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Definition
| A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs |
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Term
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Definition
| Exists when firms originate, produce, and market their products and services worldwide. |
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Term
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Definition
| consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services. |
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Term
| global marketing strategy |
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Definition
| transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when culture differ |
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Term
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Definition
| a situation where products are sold through unauthorized channels of distribution |
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Term
| gross domestic product (GDP) |
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Definition
| the monetary value of all goods and services produced in a country during one year |
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Term
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Definition
| a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company |
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Term
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Definition
| the practice of offering small, collateral-free loans to individuals who otherwise would no have access to the capital necessary to begin small business or other income-generating activities |
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Term
| multidomestic marketing strategy |
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Definition
| multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business |
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Term
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Definition
| the practice of shielding one or more industries within a county's economy from foreign competition through the use of tariffs or quotas |
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Term
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Definition
| a restriction placed on the amount of a product allowed to enter or leave a country |
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Term
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Definition
| a field of study that examines the correspondence between symbols and their role in the assignment of meaning for people |
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Term
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Definition
| Agreements among two or more independent firms to cooperate for the purpose of achieving common goals |
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Term
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Definition
| Government taxes on goods or services entering a country that primarily serve to raise prices on imports |
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Term
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Definition
| a society's personally or socially preferable modes of conduct or states of existence that tend to persist over time |
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Term
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Definition
| A permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions |
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Term
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Definition
| The variety of different product items a store carries |
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Term
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Definition
| an approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category. |
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Term
| central business district |
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Definition
| the oldest retail setting, usually located in the community's downtown area. |
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Term
| community shopping center |
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Definition
| a retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute drive |
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Term
|
Definition
| the store carries a large assortment of each product item. |
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Term
|
Definition
| distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet |
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Term
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Definition
| a form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location. |
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Term
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Definition
| competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy. |
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Term
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Definition
| the degree of service provided to the customer from three types of retailers: self-, limited-, and full service |
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Term
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Definition
| describes how many different types of products a store carries and in what assortment |
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Term
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Definition
| retailers that utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing. |
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Term
|
Definition
| selling brand-name merchandise at lower than regular prices |
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Term
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Definition
| a huge shopping strip with multiple anchor (or national) stores |
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Term
| regional shopping centers |
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Definition
| consist of 50 to 150 stores that typically attract customers who live or work within a 5- to 10- mile range, often containing two or three anchor stores. |
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Term
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Definition
| the process of growth and decline that retail outlets, like products, experience. consists of the early growth, accelerated development, maturity, and decline stages. |
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Term
| retail positioning matrix |
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Definition
| a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige |
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Term
|
Definition
| all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. |
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Term
|
Definition
| the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise |
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Term
|
Definition
| offering several unrelated product lines in a single store |
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Term
|
Definition
| A cluster of neighborhood stores to serve people who are within a 5- to 10- minute drive |
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Term
|
Definition
| using the telephone to interact with and sell directly to consumers |
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Term
|
Definition
| a concept that describes how new forms of retail outlets enter the market |
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Term
|
Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor. |
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| all-you-can-afford budgeting |
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Definition
| allocating funds to promotion only after all other budget items are covered |
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Definition
| the means (a salesperson, advertising media, or public relations tools) of conveying a message to receiver during the communication process. |
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Definition
| the process of conveying a message to others that requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding. |
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Term
| competitive parity budgeting |
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Definition
| allocating funds to promotion by matching the competitor's absolute level of spending or the proportion per point of market share. |
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Definition
| the process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process |
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Definition
| a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. |
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Definition
| the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to putchase and complete the transaction. |
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Definition
| the process of having the sender transform an idea into a set of symbols during the communication process |
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Definition
| in the feedback loop, the sender's interpretation of the response, which indicates whether the message was decoded and understood as intended during the communication process. |
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Definition
| a mutually shared understanding and knowledge that the sender and receiver apply to the message so that it can be communicated effectively during the communication process. |
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Definition
| the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product). the stages include awareness, interest, evaluation, trial, and adoption. |
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Term
| integrated marketing communications |
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Definition
| teh concept of designing marketing communications programs that coordinate all promotional activities-advertising, personal selling, sales promotion, public relations, and direct marketing - to provide a consistent message across all audiences. |
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Definition
| the result of a direct marketing offer designed tp generate interest in a product or service and a request for additional information. |
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Definition
| the information sent by a source to a receiver during the communication process |
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Definition
| extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process |
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Term
| objective and task budgeting |
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Definition
| allocating funds to promotion whereby the company: (1) determines its promotion objectives ; (2) outlines the tasks to accomplish these objectives; and (3) determines the promotion cost of performing these tasks |
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Term
| percentage of sales budgeting |
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Definition
| allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold. |
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Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
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Definition
| the combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them o try it, and (3) remind them later about the benefits they enjoyed by using the product |
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Definition
| a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockolders, suppliers, employees, and other publics about a company and its products or services |
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Definition
| a nonpersonal, indirectly paid presentation of an organization, good, or service |
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Definition
| directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product |
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Definition
| directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product |
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Definition
| consumers who read, hear, or see the message sent by a source during the communication process |
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Term
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Definition
| in the feedback loop, the impact the message had on the receiver's knowledge, attitudes, or behaviors during the communication process |
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Definition
| a short-term inducement of value offered to arouse interest in buying a good or service |
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Definition
| a company or person who has information to convey during the communication process |
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Definition
| the outcome of a direct marketing offer designed to motivate people to visit a business |
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Term
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Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor |
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Term
| consumer-oriented sales promotion |
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Definition
| sales tools used to support a company's advertising and personal selling directed to ultimate consumers |
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Term
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Definition
| advertising programs by which a manufacturer pays a percentage of the retailer's local advertising expense for advertising the manufacturer's products |
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Definition
| the cost of reaching 1,000 individuals or households with the advertising message in a given medium |
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Definition
| the average number of times a person in the target audience is exposed to a message or an advertisement |
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Definition
| an advertising agency that provides the most complete range of services, including market research, media selection, copy development, artwork, and production |
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Definition
| a reference number used by advertisers that is obtained by multiplying reach (expressed as a percentage of the total market) by frequency |
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Definition
| program-length (30 minute) advertisements that take an educational approach to communication with potential customers |
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Definition
| consist of the company's own advertising staff, who may provide full services or a limited range of services |
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Term
| institutional advertisements |
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Definition
| advertisements designed to build goodwill or an image for an organization rather than promote a specific good or service |
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Definition
| advertising agencies that specialize in one aspect of the advertising process, such as providing creative services to develop the advertising copy, buying previously unpurchased media space, or providing Internet service |
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Term
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Definition
| tests conducted after an advertisement has been shown to the target audience to determine whether it accomplished its intended purpose |
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Term
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Definition
| tests conducted before an advertisement is placed in any medium to determine whether it communicates the intended message or to select among alternative versions of the advertisement |
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Definition
| advertisements that focus on selling a good or service and which take three forms: (1) pioneering (informational) (2) competitive (persuasive) and (3) reminder |
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Definition
| a consumer sales promotion tool that uses a brand name product in a movie, television show, video game, or a commercial for another product |
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Term
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Definition
| methods of obtaining nonpersonal presentation of an organization, good, or service without direct cost, such as new releases, news conferences, and public service announcements |
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Term
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Definition
| the percentage of households in a market that are tuned to a particular TV show or radio station |
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Definition
| the number of different people or households exposed to an advertisements |
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Term
| trade-oriented sales promotions |
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Definition
| sales tools used to support a company's advertising and personal selling distributors, or retailers |
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Term
| account management policies |
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Definition
| specifies whom sales people should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out |
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Term
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Definition
| a need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information |
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Definition
| a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution |
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Definition
| the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis |
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Term
| formula selling presentation |
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Definition
| a presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect |
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Definition
| the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships |
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Term
| need-satisfaction presentation |
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Definition
| a presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers |
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Term
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Definition
| sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service |
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Definition
| processes routine orders or reorders for products that were already sold by the company |
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Definition
| the practice whereby buyers and sellers combine their expertise and resources to create customized solutions, commit to joint planning, and share customer, competitive, and company information for their mutual benefit, and ultimately the customer |
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Term
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Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
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Term
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Definition
| sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting (2) preapproach (3) approach (4) presentation (5) close and (6) follow-up |
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Definition
| the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time |
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Definition
| planning the selling program and implementing and evaluating the personal selling effort of the firm |
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Definition
| a statement describing what is to be achieved and where and how the selling effort of sales people is to be deployed |
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Definition
| specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period. |
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Definition
| the use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient |
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Term
| stimulus-response presentation |
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Definition
| a presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy |
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Term
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Definition
| the practice of using an entire team of professionals in selling to and servicing major customers |
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Term
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Definition
| a formula-based method for determining the size of a salesforce that integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size |
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