Term
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Definition
| Setting the price based on buyer's perceptions of value rather than on the seller's cost. |
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Term
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Definition
| A marketing services firm that assists companies in planning, preparing, implementing, and evaluating any or all or portions of their advertising programs. |
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Term
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Definition
| Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. |
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Term
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Definition
| Setting the promotion budget at the level management thinks the company can afford. |
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Term
| Competitive-parity method |
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Definition
| Setting the promotion budget to match competitors' outlays. |
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Term
| Integrated Marketing Communications |
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Definition
| The concept under which a company carefully integrates and coordinates all communication channels to deliver a clear, consistent, and compelling message about the organization and/or its products. |
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Term
| Objective-and-task method |
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Definition
| Developing the promotion budget by [1] defining specific objectives, [2] determining the tasks that must be performed to achieve these objectives, and [3] estimating the costs of performing these tasks. |
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Term
| Percentage-of-sales method |
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Definition
| Setting the promotion budget at a certain percentage of current or forecasted net sales. |
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Term
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Definition
| A marketing services firm that assists companies in planning, preparing, implementing, and evaluating any or all or portions of their public relations programs. |
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Term
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Definition
| Building good relations with the company's various publics by obtaining favorable publicity, building a good corporate image, and handling or heading off unfavorable rumors, stories, and events. |
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Term
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Definition
| A promotion strategy that calls for spending a lot on advertising and consumer promotion to build up consumer demand for a product for direct and reseller sales. |
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Term
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Definition
| A promotion strategy that calls for using the sales force, resellers, and trade promotion to drive the product through channels of distribution to the consumer. |
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