question

personal selling

answer

personal presentations by the firm's sales force for the purpose of making sales and building customer relationships; interpersonal interactions

question

salesperson

answer

individual who represents a company to customers by performing one or more of the following: prospecting, communicating, selling, servicing, information gathering, relationship building

question

salespeople serve 2 masters

answer

seller and buyer; represent the company to customers; represent customers to the company

question

coordinating marketing and sales

answer

increase communication, joint objectives and reward systems, appoint high level marketing executive to oversee both

question

salestore management

answer

analyzing, planning, implementing, and controlling sales force activities

question

territorial sales force structure

answer

one product line to one industry with customers in many locations; assigns each sales person to an exclusive geographic territory in which that salesperson sells the company's full line; clearly defines each salesperson's job; increases salesperson's desire to build customer relationships; small travel expenses

question

product sales force structure

answer

numerous and complex products; salespeople specialize in selling only a portion of the company's products/lines

question

customer (market) sales force structure

answer

salespeople specialize in selling only to certain customers/ industries

question

complex sales force structure

answer

wide variety of products to many customers

question

outside sales force (field source force)

answer

salespeople who travel to call on customers in the field

question

inside sales force

answer

conduct business from their offices via telephone, online, and social media interactions, or visits from prospective buyers

question

team selling

answer

using teams of people from sales, marketing, engineering, finance, technical supports, and even upper management to service large, complex accounts

question

telemarketing and online selling

answer

less costly ways to sell to smaller, harder to reach cucstomers

question

recruiting and selecting salespeople

answer

intrinsic motivation, disciplined work style, ability to close a sale, build relationships with customers

question

goals of training salespeople

answer

building customer relationships, how to sell effectively and train in basis of selling process, how to identify with the company, its products, and its competitors

question

compensation

answer

fixed amount-salary, variable amount- commissions/bonus, expenses, fringe benefits

question

4 types compensation plans

answer

straight salary, straight commission, salary plus bonus, salary plus commission

question

supervision

answer

help salespeople "work smart;" call plan; time-and-duty analysis

question

motivation

answer

help salespeople "work hard"

question

sales force automation systems

answer

computerized, digitized sales force operations that let salespeople work more effectively anytime, anywhere

question

organizational climate

answer

the feeling that salespeople have about their opportunities, value, and rewards for a good performance

question

sales quotas

answer

standard that states the amount a salesperson should sell and how sales should be divided among the company's products

question

evaluating salespeople

answer

sales reports, call and expense reports, return on sales investment

question

technology drawbacks

answer

not cheap, some things can't be presented through the internet

question

selling process

answer

steps that salespeople follow when selling 1) prospecting and qualifying 2) pre-approach 3) approach 4) presentation and demonstration 5) handling objections 6) closing 7) follow-up

question

1) prospecting and qualifying

answer

salesperson/company identifies qualified potential customers; qualify leads- identify good and screen out bad

question

2) pre-approach

answer

salesperson learns as much as possible about a prospective customer before making a sales call; set call objectives, determine the best approach, thought to overall sales strategy

question

3) approach

answer

salesperson meets customer for the 1st time

question

4) presentation

answer

salesperson tells "value story" to the buyer, showing how the company's offer solves the customer's problems

question

5) handling objections

answer

salesperson seeks out, clarifies, and overcomes any customer objections to buying

question

6) closing

answer

salesperson asks customer for order

question

7) follow up

answer

salesperson follows up to ensure customer satisfaction and repeat business

question

sales promotion

answer

short-term incentives to encourage the purchase or sale of a product/service

question

rapid growth of sales promotion

answer

greater pressure to increase current sales, more competition, consumers more deal oriented, promotion clutter

question

consumer promotions

answer

used to boost short-term consumer buying and engagement or enhance long term customer relationships; samples, coupons, price backs, rebates, premiums, point-of-purchase, contests, event marketing

question

event marketing

answer

creating a brand marketing event or serving as a sole or participating sponsor of events created by others

question

trade promotions

answer

used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising

question

business promotion

answer

used to generate business leads, stimulate purchases, reward customers, and motivate salespeople; conventions and trade shows, sales contest

question

developing sales promotion program

answer

determine size of incentive, set conditions for participation, how to promote and distribute the promotion problem, length of promotion, evaluation

question

direct and digital marketing

answer

engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships

question

benefits of direct/digital marketing

answer

buyers: convenient, easy, private sellers: low cost, efficient, speedy, flexible

question

digital and social media marketing

answer

using web sites, social media, mobile apps, adds, online video, email, and blogs, anytime through digital devises

question

multichannel marketing

answer

marketing both through stores and other traditional offline channels and through digital, online, social media, and mobile channels

question

online marketing

answer

marketing via the internet using company websites, online ads and promotions, e-mail, online video, blogs

question

marketing web sites

answer

interacts with consumers to move them closer to a direct purchase or other marketing outcome

question

branded communications web site

answer

presents brand content that engages consumers and creates customer community around a brand

question

online advertising

answer

appears while consumers are borrowing online, including display ads, search-related ads, online classifieds, and other forms

question

e-mail marketing

answer

sending highly targeted, highly personalized, relationship-building marketing messages; spam, permission-based email marketing

question

viral marketing

answer

digital version of word-of-mouth marketing; videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends

question

blogs

answer

online journals where people and companies post their thoughts and other content, usually related to narrowly defined topics; fresh, personal, cheap, original; cluttered and difficult to control

question

social media

answer

independent and commercial online communities where people congregate, socialize, and exchange views and information

question

mobile marketing

answer

marketing messages, promotions, and other content delivered to on-the-go consumers through mobile phones, smartphones, tablets, and other devices

question

direct-mail

answer

occurs by sending an offer, announcement, reminder, or other item directly to a person

question

catalog

answer

direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online

question

digital catalogs

answer

eliminate print and mailing cots; unlimited amount of space; broader assortment of presentation formats; allow real-time merchandising: products and features can be added or removed as needed

question

paper catalogs

answer

emotional connections; drive online and mobile sales

question

outbound telemarketing

answer

to sell directly to consumers and businesses

question

inbound telemarketing

answer

toll-free numbers to receive orders from TV and print ads, direct mail, or catalogs

question

Direct Response Television Marketing (DRTV)

answer

direct marketing via television, including direct-response television advertising (infomercials) and interactive TV advertising

question

public policy issues in direct and digital marketing

answer

irritation, unfairness, deception, fraud

question

phishing

answer

uses deceptive emails and online sites to fool users

question

Which of the following is NOT an advantage of a territorial sales force structure? a. Accountability is clearly defined for each salesperson. b. Salespeople have the opportunity and incentive to build strong relationships with customers. c. Travel expenses can be minimized. d. Each salesperson’s job is clearly defined. e. Salespeople develop in-depth knowledge of a product line.

answer

e. Salespeople develop in-depth knowledge of a product line.

question

The salesperson meets the customer for the first time in the ________ step of the selling process. a. presentation b. prospecting c. preapproach d. qualifying e. approach

answer

e. approach

question

Which type of salesperson fits best with today’s relationship marketing focus and solutions approach? a. salesperson on salary and not on commission b. razzle-dazzle salesperson c. salesperson on commission and not on salary d. hard-sell salesperson e. problem-solver salesperson

answer

e. problem-solver salesperson

question

A salesperson should seek out hidden objections, ask the buyer to clarify any objections, take objections as opportunities to provide more information, and ________. a. move on to closing the sale b. compliment the buyer for bringing the objections up c. turn the objections into reasons for buying d. seek to minimize or play down the objections e. turn the objections into humor

answer

c. turn the objections into reasons for buying

question

Which of the following is NOT one of the four basic types of compensation plans (for salespeople)? a. salary plus bonus b. salary and commission c. straight salary d. commission plus bonus

answer

d. commission plus bonus

question

Financial services provider USAA sends materials about teaching teenagers how to drive safely to USAA customers who have children approaching driving eligibility age. USAA is using ________ information from a customer database to determine which customers should receive the materials. a, key contact b. demographic c. behavioral d. geographic e. psychographic

answer

b. demographic

question

Amazon.com was the first company to use ________, which is technology that sorts through customer purchasing patterns to create personalized site content. a. records management b. personalized marketing c. customer filtering d. collaborative filtering e. database marketing

answer

d. collaborative filtering

question

Why are historically online shops such as Zappos.com adding print catalogs to their marketing methods? a. to provide comparative information for customers b. to reduce the need for telemarketers c. to drive online sales d. to offer a wider array of merchandise e. to save production money spent online

answer

c. to drive online sales

question

________ are designed to engage consumers in interactions that will move them closer to a direct purchase or other marketing outcome. a. Corporate websites b. Affiliate programs c. Web communities d. Marketing websites e. Brand Web sites

answer

d. Marketing websites

question

Companies that use the Internet for direct marketing are required by law to post their privacy policies on their Web sites. True False

answer

False

question

Self-referencing criteria is a major obstacle in success in the international markets True False

answer

True

question

Developments in communication and transportation does not affect global business True False

answer

False

question

IMF's current basket of currencies (Special Drawing Rights - paper gold) does not include Japanese Yen. True False

answer

False

question

The major obstacle(s) in success in an international market is (are): Ethnocentrism Lack of Industry Self-referencing criteria Cultural Insensitivity Self-referencing criteria, Ethnocentrism, Cultural Insensitivity, and Lack of Industry

answer

Self-referencing criteria, Ethnocentrism, Cultural Insensitivity, and Lack of Industry

question

What factors help a company decide its mode of entry in an international market? International Environment, International Market, International Competition, and Company Characteristics International Market Company Characteristics International Environment International Competition

answer

International Environment, International Market, International Competition, and Company Characteristics

question

customer database

answer

organized collection of comprehensive data about individual customers or prospects; demographics, psychographics, buying behavior

question

global firm

answer

firm that, by operating in more than one country, gains advantages in its costs and reputation that are not available to purely domestic competitors

question

The International Trade system

answer

the government may charge tariffs, or duties, taxes on certain imported products designed to raise revenue or protect domestic firms

question

quotas

answer

limits on the amount of foreign imports they will accept; to conserve on foreign exchange and protect local industry and employment

question

exchange controls

answer

limit amount of foreign exchange and the exchange rate against other currencies

question

World Trade Organization

answer

replaced General Agreement on Tariffs and Trade and now oversees original provisions; imposes international trade sanctions and mediates global trade disputes

question

economic community

answer

group of nations organized to work toward common goals in the regulation of international trade

question

industrial structure

answer

shapes its product and service needs, income levels, and employment levels

question

subsistence economies

answer

simple agriculture, consume most of their output and barter, few market opportunities

question

raw material exporting economies

answer

rich in natural resources but poor in other ways; good markets for large equipment, tools, and supplies

question

emerging economies (industrializing)

answer

new rich class and growing middle class; demanding new types of imported goods -> raw textile materials, steel, heavy machinery

question

industrial economies

answer

major exporters of manufactured goods, services, and investment funds

question

exporting

answer

selling goods produced in the country's home country, often with little modification

question

indirect exporting

answer

working through independent international marketing intermediaries; less investment and less risk

question

direct exporting

answer

handle their own exports

question

joint venturing

answer

joining w foreign companies to produce or market a product or service

question

licesning

answer

developing an agreement with a license in the foreign market; little risk; firm has little control

question

contract manufacturing

answer

a company contracts with manufacturing in a foreign market to produce its product or provide its service; decreased control over manufacturing process and loss of potential profits; chance to start faster with little risk

question

manangement contracting

answer

domestic firm supplies the management know-how to a foreign company that supplies the capital; the domestic firm exports management services rather than products

question

joint ownership

answer

a company creates a local business with investors in a foreign market, who share ownership and control

question

direct investment

answer

developing a foreign based assembly or manufacturing facilities

question

standardized global marketing

answer

uses the same marketing strategy and mix in all of the company's international markets; greater brand power and reduced costs from economies of scale

question

adapted global marketing

answer

adjusts the marketing strategy and creates more costs but hopefully provides a larger market share and return

question

straight product extension

answer

marketing a product in a foreign market without making any changes to the product; costly in long run

question

product adaptation

answer

adapting a product to meet local conditions or wants in foreign markets

question

product invention

answer

creating new products or services for foreign markets

question

communication adaptation

answer

fully adapting advertising messages to local markets

question

whole-channel view

answer

designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network

question

megatrends

answer

Globalization and technology, hyper-competition, downward pressure on prices

question

business challenge

answer

maintain prices and profit, leadership in offering value

question

salient concepts

answer

balance of payment, trade surplus/deficit, protectionism

question

balance of payment

answer

system of annual record of a nation's financial transaction; adjustment in value of currency

question

current account

answer

(export-import) of goods and services + income

question

capital account

answer

(outflow-inflow) of direct investment + portfolio investment + short-term capital movement

question

reserve account

answer

(export-import) of Gold + change in foreign exchange reserve + change in liabilities to foreign central banks

question

Determinants of market entry strategy decision

answer

a) market characteristics b) country capabilities and characteristics c) industry structure and characteristics d) environment STEP

question

franchising

answer

fastest growing market entry strategy; franchisor provides standard package of products, systems, and management services; franchisee provides market knowledge, capital, personal involvement in management

question

major obstacles to success in International Marketing

answer

self-reference criterion: unconscious reference to one's own cultural values, experiences, and knowledge as a basic of decision, enthnocentrism: notion that one's own company, culture, or country know how to do things

question

ethics

answer

moral principles by which people decide issues of right and wrong, fairness and justice, unwritten rules of society

question

affluenza

answer

extreme form of materialism in which consumers overwork and accumulate debt to purchase more goods

question

false objective claims

answer

making an invalid claim

question

puffery

answer

exaggerated claim

question

consumer activism

answer

advocacy groups, boycotts , protests, websites

question

culture jamming

answer

disrupt corporate efforts to dominate our cultural landscape

question

misrepresenting consumer segments

answer

women and ethnic minorities are under represented in commercial ads and often misrepresented in stereotypical ways

question

green marketing

answer

educating consumers about the various specific environmental benefits and attributes of the advertised products or companies

question

greenwashing

answer

forms of spin in which green marketing is deceptively used to promote the perception that an organization's aims and policies are environmentally friendly

question

barriers to green purchasing

answer

too expensive, not sure they are better for environment, don't know enough, don't work as well

question

triple value proposition

answer

products that work well, last longer, cost less do good

question

sustainable marketing

answer

socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

question

planned obsolescence

answer

causing products to become more obsolete before they actually should need replacement

question

redlining

answer

drawing a red line around disadvantaged neighborhoods and avoiding placing stores there

question

3 problems of marketing's impact on other businesses

answer

1) acquisitions of competitors 2) marketing practices that create barriers to entry 3) unfair competitive marketing practices

question

consumerism

answer

organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

question

consumer advocates call for

answer

right to be well informed, right to be protected against questionable products/ practices, influence products/practices in a way that will improve "quality of life" to consume now in a way that will preserve the world for future generations

question

environmentalism

answer

movement designed to protect and improve people's current and future living environment

question

environmental sustainability

answer

involves developing strategies that sustain the environment and provide profits for the company

question

pollution prevention

answer

eliminating/reducing waste before it's created

question

product stewardship

answer

minimizing the environmental impact throughout the entire product life cycle

question

consumer-oriented marketing

answer

company should view and organize its marketing activities from the consumer's point of view

question

customer value marketing

answer

company should put most of its resources into customer-value-building

question

innovative marketing

answer

requires a company to seek real product and marketing improvements

question

sense-of-mission marketing

answer

company should define its mission in broad social terms rather than narrow product terms

question

societal marketing

answer

company should make decisions by considering consumers' wants, company's requirements, consumers long run interests, and society's long run interests

question

deficient products

answer

neither immediate appeal nor long run benefits

question

pleasing products

answer

give high immediate satisfaction but may hurt consumers in the long run

question

salutary products

answer

low immediate appeal but may benefit consumers in the long run

question

desirable products

answer

high immediate satisfaction and high long run benefitd

ch. 13-16 marketing – Flashcards

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