Promotional Process in Marketing – Flashcards
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Promotion
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any communication method used by companies to inform, persuade or remind customers of their products
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Promotional mix
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combination of any one or more types of promotion including: sales promotion, public relations, advertising and personal selling
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Source
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message sender; person who encodes the message
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Receiver
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message destination; person who decodes the message
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Noise
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any type of distraction reducing communication process effectiveness
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Feedback
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receiver's response to the message
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Encoding
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source decides what it wants to say and translate the message so it will have the same meaning to the receiver
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message channels
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"carrier" of the message
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decoding
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translation of the message by the receiver in the communication process
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push-pull concept
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marketers rely on different promotional mixes to pull in consumers; consumer demand pulls product through the channels
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trade-oriented sales promotion
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activities geared toward gaining product support from manufacturers, wholesalers and retailers
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Slotting Allowances
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cash premium paid by manufactures to retailers for the costs of putting a new product on the shelves
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Buying Allowances
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price discounts given by the manufacturer to wholesalers and retailers to stimulate the purchase of a product
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Sales Incentives
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awards given to managers and employees who successfully meet or exceed a sales quota; sales contests
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Premium
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low costs items given to consumers at a discount or for free
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Coupons
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certificate allowing customers to receive cash discounts
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Coupon Plans
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continuous programs offering different premiums to customers by exchanging coupons, labels, tokens, etc.
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Traffic Builders
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low-cost premiums given to customers for attending special events
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Factory Packs
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free gifts placed inside product packages
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Incentives
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using contests, sweepstakes and rebates as vehicle for customers to win higher-priced products
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Contests
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type of incentives which require participants to demonstrate a skill
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Sweepstakes
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type of incentives which are games of chance
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Rebates
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cash discounts for customers who purchase a product
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Product samples
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free trial-size examples of a product distributed through the mail, at retail stores and door to door
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Promotional Tie-ins
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promotional arrangements made between one or more retailers or manufacturers
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Product placement
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placing products in highly viewed events
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Visual merchandising
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integrating physical elements in order to project an image to the customer
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Product Placement
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placing products in highly viewed events
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Visual Merchandising
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intergrating physical elements in order to project an image to the customer
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Public Relations
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often used by businesses to help portray positive company images by participating in public relation events
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Customer Advisory Boards
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panels of consumers who provide comments about products and businesses; help businesses to understand consumer preferences and trends
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Consumer affairs specialists
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people hired by businesses to handle customer complaints and act as consumer advocates
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Employee relations
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programs designed to motivate employees and foster good attitudes
