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| Communication by marketers that informs, persuades, and reminds potential buyrs of a product in order to influence an opinion or elicit a response |
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| One or more unique aspects of an organization that causes target consumers to patronize that firm rather than competitors |
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A plan for the optimal use of the elements of promotion:
Advertising
Public Relations
Personal Selling
Sales Promotion
Social Media |
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| The combination of promotional tools- including advertising, public relations, personal selling, sales promotion, and social media- used to reach the target market and fulfill the organizations overall goals |
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A model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message
Attention
Interest
Desire
Action |
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| Integrated Marketing Communications |
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| The careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every contact point at which a company meets the consumer |
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| Public information about a company, product, service, or issue appearing in the mass media as a news item |
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| Marketing activities (other than personal selling, advertising, and public relations) that simulate consumer buying and dealer effectiveness |
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| A specific communication task that a campaign should accomplish for a specific target audience during a specific period |
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| Unique Selling Proposition |
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| A desirable, exclusive and believable advertising appeal selected as a theme for a campaign |
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| The channel used to convey a message to the target market |
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| The series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the audience |
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| The combination of media to be used for a promotional campaign |
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| The cost of reaching one of the members of a target market |
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| The number of target consumers exposed to a commercial at least once during a specific period (usually 4 weeks) |
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| A series of related advertisements focusing on a common theme, slogan, and set of advertising appeals |
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| A public relations strategy that involves getting a product, service, or company name to appear in a movie, TV show, radio program, magazine, newspaper, video game, book, or commercial, etc |
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| The cooperative marketing efforts between a for-profit firm and a nonprofit organization |
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| A price reduction offered by manufacturers to intermediaries, such as wholesalers and retailers (given in exchange for doing something specific, such as giving a product space) |
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| Money offered to channel intermediares to encourage them to push products or to encourage other members of the channel to sell the products |
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| A sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships |
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| The steps a salesperson goes through in a particular organization to sell a product/service |
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| Lead Generation/Prospecting |
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| Identification of those firms and people most likely to buy a seller's offerings |
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| A form of lead generation in which the salesperson approaches potential buyers without any knowledge of the prospects needs or financial status |
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Determining
1. Recognized Need
2. Buying Power
3. Responsivity and accessability |
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| A determination of the customer's specific needs and wants and the range of options the customer has for satisfying them |
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| A formal written document or presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs |
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| A formal meeting in which the salesperson presents a sales proposal to a potential buyer |
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| The final step in the selling process in which the salesperson ensures that delivery schedules are met, goods or services perform as promised, and the buyer's employees are properly trained to use products |
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| That which is given up in exchange to acquire a good or service |
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| Return on Investment (ROI) |
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| Net profit after taxes divided by total assets |
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| A company's product sales as a percentage of total sales for that industry |
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| The quantity of a product that will be sold in the market at various prices for a specified period |
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| The quantity of a product that will be offered to the market by a supplier at various prices for a specifed period |
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| A situation in which consumer demand is sensitive to changes in price |
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| A situation in which an increase or a decrease in price will not significantly affect demand for the product |
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| A cost that changes with levels of output |
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| Does not change as output is increased or decreased (salaries) |
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| The change in total costs associated with a one-unit change in output |
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| A method of setting prices that occurs when a marginal revenue equals marginal cost |
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| The extra revenue associated with selling an extra unit of output or the change in total revenue with a one-unit change in output |
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| A method of determining what sales volume must be reached before total revenue equals total cost |
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| A basic long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle |
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| A pricing policty whereby a firm charges a relatively low price for a product initially as a way to reach the mass market |
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| Charging a price identical to or very close to the competition's price |
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| An agreement between two or more firms on the price they will charge for a product. Totes illegalz |
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| The practice of charging a low price for a product with the intent of driving competitors out of business or out of a market, totes illegalz |
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| Promotional (trade) allowance |
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| A payment to a dealer for promotiong the manufactuer's product |
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| Setting the price at a level that seems to the customer to be a good price compared to the prices of other options |
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| The general price level at which the company expects to sell the good or service |
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| Flexible (variable) Pricing |
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| A price tactic in which different customers pay different prices for essentially the same merchandise bought in equal quantities |
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| Leader (loss-leader) Pricing |
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| A price tactic in which a product is sold near or even below cost in the hope that shoppers will buy other items once they are in the store |
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| A price tactic that ties to get customers into a store through false or misleading price advertising and then uses high-pressure selling to persuade customers to buy more expensive merchandise |
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| Marketing two or more products in a single package for a special price |
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| An extra feww paid by the consumer for violating the terms of the purchase agreement |
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| Costs that are shared in the manufacturing and marketing of serveral products in a product line |
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| Customer Relationship Management |
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| A company-wide business strategy deisnged to optimize profitability, revenue, and customer satisfaciton by focusing on highly defined and precise customer groups |
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| A philosophy under which the company customizes its product or service offering based on data generated through interactions between the cumser and the company |
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| An informal process of collectiong customer data through customer comments and feedback on a product or service performance |
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| The process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization |
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| Delegation of authority to solve customer's problems quickly usually by the first person the customer notifies regarding the problem |
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| The point at which a customer and a company representative exchange information and develop learning relationships |
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| All possible areas of a business where customers communicate with that business |
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| Point of Sale Interactions |
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| Communications between customers and organizations that occur at the point of sale, normally in a store |
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| A central repository for data from various functional areas of the organization that are stored and inventoried on a centralized computer systel so that the information can be shared across all functional departments of the business |
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| A collection of data, especially one that can be accessed and manipulated by computer software |
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| A customer list that includes the names and addresses of individuals who have responded to an offer of somer kind |
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| A customer list developed by gathering names and addresses from phone directories and membership rosters, usually enhanced with information from public records such as census data, auto registries, birth announcements, business start-ups, and bankruptcies |
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| A data manipulation technique that projects the future value of the customer over a period of years using the assumption that marketing to repeat customers is more profitable thant marketing to first time buyers |
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| Developing a product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships |
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| A subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling |
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| Using consumers to develop and market products |
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| Websites that allow consumers to post, read, rate, and comment on opinions regarding all kinds of products and serices |
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| Websites that allow users to decide which content is promoted on a given website by voting that content up or down |
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| Websites that allow users to upload and distribute multimedia content like videos and photos |
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