question

promotion mix

answer

specific blend of promotional tools that the company uses to persuasively communicate customer value and build customer relationships

question

advertising

answer

any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor

question

sales promotion

answer

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

question

personal selling

answer

personal presentation by the firm's sales force for the purpose of making sales and building customer relationships

question

public relations

answer

building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events

question

direct marketing

answer

direct connections with carefully targeted individual customers to both obtain an immediate response and cultivate lasting customer relationships

question

integrated marketing communications

answer

carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products

question

push strategy

answer

a promotion strategy in which the sales force and trade promotion are used to push the product through channels.

question

pull strategy

answer

a promotion strategy in which a company spends a lot of money on consumer advertising and promotion to induce final customers to buy the product, creating a demand vacuum that pulls the product through the channel

question

advertising objective

answer

a specific communication task to be accomplished with a specific target audience during a specific period of time

question

advertising budget

answer

the dollars and other resources allocated to a product or a company advertising program

question

affordable method

answer

setting the promotion budget at the level management thinks the company can afford

question

percentage-of-sales method

answer

setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

question

competitive-parity method

answer

setting the promotion budget to match competitors' outlays

question

objective-and-task method

answer

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

question

advertising strategy

answer

the plan by which the company accomplishes its advertising objectives

question

madison & vine

answer

a term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching consumers with more engaging messages

question

creative concept

answer

the compelling big idea that will bring the advertising message strategy to life in a distinctive and memorable way

question

execution style

answer

the approach, style, tone, words, and format used for executing an advertising message

question

advertising media

answer

the vehicles through which advertising messages are delivered to their intended audiences

question

return on advertising investment

answer

the net return on advertising investment divided by the costs of the advertising investment

question

advertising agency

answer

a marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs

question

salesperson

answer

an individual representing a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

question

sales force management

answer

analyzing, planning, implementing, and controlling sales force activities

question

territorial sales force structure

answer

a sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line

question

product sales force structure

answer

a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines

question

customer sales force structure

answer

a sales force organization in which salespeople specialize in selling only to certain customers or indutries

question

outward salesforce

answer

salespeople who travel to call on customers in the field

question

inward salesforce

answer

salespeople who conduct business from their offices via telephone, the Internet, or visits from prospective buyers

question

team selling

answer

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

question

sales quota

answer

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

question

selling process

answer

the steps that salespeople follow when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up

question

prospecting

answer

the sales step in which a salesperson or company identifies qualified potential customers

question

preapproach

answer

the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call

question

approach

answer

the sales step in which a salesperson meets the customer for the first time

question

presentation

answer

the sales step in which a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems

question

handling objections

answer

the sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying

question

closing

answer

the sales step in which a salesperson asks the customer for an order

question

follow-up

answer

the sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business

question

consumer promotions

answer

sales promotion tools used to boost short-term customer buying and involvement or to enhance long-term customer relationships

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

sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers

question

business promotions

answer

sales promotions tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople

question

customer database

answer

an organized collection of comprehensive data about individual customers or prospects, including geographic, demographic, psychographic, and behavioral data

question

direct-mail marketing

answer

marketing that occurs by sending an offer, announcement, reminder, or other item directly to a person at a particular address

question

catalog marketing

answer

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

question

telemarketing

answer

using the telephone to sell directly to customers

question

direct response television marketing

answer

direct marketing via television, including direct-response television advertising and interactive television advertising

question

online marketing

answer

efforts to market products and services and build customer relationships over the internet

question

click-only companies

answer

the so-called dot-coms, which operate online only and have no brick-and-mortar market presence

question

click-and-mortar companies

answer

traditional brick-and-mortar companies that have added online marketing to their operations

question

business-to-consumer online marketing

answer

businesses selling goods and services online to final consumers

question

business-to-business online marketing

answer

businesses using online marketing to reach new business customers, serve current customers more effectively, and obtain buying efficiencies and better prices

question

consumer-to-consumer online marketing

answer

online exchanges of goods and information between final consumers

question

consumer-to-business online marketing

answer

online exchanges in which consumers search out sellers, learn about their offers, initiate purchases, and sometimes even drive transaction terms

question

corporate web site

answer

a web site designed to build customer goodwill, collect customer feedback, and supplement other sales channels rather than sell the company's products directly

question

marketing web site

answer

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

question

online advertising

answer

advertising that appears while consumers are browsing the Web, including display ads, search-related ads, online classifieds, and other forms

question

viral marketing

answer

the internet version of word-of-mouth marketing: a web site, video, e-mail message, or other marketing event that is so infectious that customers will seek it out or pass it along to friends

question

e-mail marketing

answer

sending highly targeted, tightly personalized, relationship-building marketing messages via e-mail

question

spam

answer

unsolicited, unwanted commercial e-mail messages

question

mobile marketing

answer

marketing to on-the-go consumers through mobile phones, smartphones, tablets, and other mobile communication devices

question

global firm

answer

a firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors

question

economic community

answer

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

question

exporting

answer

entering foreign markets by selling goods produced in the company's home country, often with little modification

question

joint venturing

answer

entering foreign markets by joining with foreign companies to produce or market a product or service

question

licensing

answer

entering foreign markets through developing an agreement with a licensee in the foreign market

question

contract manufacturing

answer

a joint venture in which a company contracts with manufacturers in a foreign market to produce the product or provide its service

question

management contracting

answer

a joint venture in which the 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 cooperative venture in which a company creates a local business with investors in a foreign market, who share ownership and control

question

direct investment

answer

entering a foreign market by developing foreign-based assembly or manufacturing facilities

question

standardized global marketing

answer

an international marketing strategy that basically uses the same marketing strategy and mix in all of the company's international markets

question

adapted global marketing

answer

an international marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces 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

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

a global communication strategy of 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

sustainable marketing

answer

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

question

consumerism

answer

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

question

environmentalism

answer

organized movement of concerned citizens and government agencies designed to protect and improve people's current and future living environment

question

environment sustainability

answer

a management approach that involves developing strategies that both sustain the environment and produce profits for the company

question

consumer-oriented marketing

answer

principle of sustainable marketing that holds a company should view and organize its marketing strategies from the consumer's point of view

question

customer-value marketing

answer

a company should put most of its resources into customer value building marketing investment

question

innovative marketing

answer

requires a company to see real product and marketing improvements

question

sense of mission marketing

answer

a company should define it's mission in broad social terms rather than narrow product terms

question

societal marketing

answer

a company should make marketing decisions by considering consumer's wants, requirements, long run interests

question

deficient products

answer

products that have neither immediate appeal nor long-term benefits

question

pleasing products

answer

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

question

salutary products

answer

products that have low immediate appeal but may benefit consumers in the long run

question

desirable products

answer

products that give both immediate satisfaction and high long-term benefits

Principles of Marketing Chapters 12-16 – Flashcards

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