UMaine Marketing exam 5

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integrated marketing communications
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represents promotion, encompasses a variety of communication disciplines: advertising, personal selling, sales promotion, public relations, direct and online marketing to provide clarity, consistency, and max communicative impact
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communication process
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1. sender 2. transmitter encodes message 3. communication channel (medium) 4. receiver
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sender
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clearly identified by intended audience
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transmitter encodes message
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external agency receives info and transforms it for use as role here
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encoding
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converting senders ideas into a message Ex. yellow signs and shelf tags
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communication channel (medium)
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medium print, broadcast, and internet that carries message
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receiver
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person who reads, hears, or sees and processes info contained in advertisement
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decoding
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refers to process by which the receiver interprets the sender’s message
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noise
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any interference that stems from competing messages, a lack of clarity in the message, or a flow in the medium
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feedback loop
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allows receiver to communicate with the sender and thereby informs sender whether message was received and decoded properly
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AIDA model (think, feel, do)
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1. awareness 2. interest 3. desire 4. action
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brand awareness
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a potential customer’s ability to recognize or recall that the brand name is a particular type of retailer of product/service
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aided recall
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when consumers indicate they know the brand when the name is presented to them
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top of mind awareness
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highest level of awareness, occurs when consumers mention a specific brand name first when they are asked about a product or service Ex. harley davidson
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interest
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consumer must be persuaded that the product is worth it
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desire
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making the customer go from “i like it” to “i want it”
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the laggard effect
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a delayed response to a marketing communications campaign, generally takes several exposures to an ad before consumer processes message
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advertisement
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entails placement of announcements and persuasive messages in time or space purchased in any of mass media by firms, non profits, govt agencies, and individuals who seek to inform and persuade members at a target market
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public relations (PR)
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organizational function that manages firm’s communications to achieve a variety of objectives: positive image, handling gossip, and relationship w media
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personal selling
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2 way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision: face to face, phone, internet, and video conference
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direct marketing
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communicates directly with target customers to generate a response or transaction
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online marketing
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1. websites 2. blog 3. social media
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objective and task method
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determines budget required to undertake specific tasks to accomplish communication budgets
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rule of thumb method
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uses prior sales and communication objectives to determine the present communication budget
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frequency
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of exposure, how often audience is exposed to a communication within a specific period of time
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reach
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describes % of target population exposed to communication
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gross rating points (GRP)
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(reach x frequency)
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web based media
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paid search, display ads, email, sponsorships
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web tracking software
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measures how much time viewers spend on particular web pages, number of pages they view, how many times users close banner ads, which website they came from, etc
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social shopping
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use of internet to communicate about product preferences with other shoppers
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search engine marketing
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Ex. google AdWords, allows advertisers to show up in sponsored links section
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impressions
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number of times ad appears in front of user
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click through rate (CTR)
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number of times user clicks on ad ————————————– number of impressions
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relevance
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describes how useful an ad message is to the consumer during the search
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return on market investment (ROMI)
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gross margin marketing expenditure (—————————————-) x 100 marketing expenditure
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steps in planning and executing an ad campaign
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1. identify target audience 2. set advertising objectives 3. determine the advertising budget 4. convey the message 5. evaluate and select media 6. create advertisements 7. assess impact
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advertising plan
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a subsection of the firm’s overall marketing plan that explicitly analyzes the marketing and advertising situation, identifies the objectives of the advertising campaign, clarifies a specific strategy for accomplishing those objectives, and indicates how the firm can determine whether the campaign was successful
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pull strategy
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the goal is to get customers to pull the product into the marketing channel by demanding it
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push strategies
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designed to increase demand by focusing on wholesalers, retailers, or salespeople, attempts to motivate the seller to highlight the product, rather than the products of competitors, and thereby push the product to consumers
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informative advertising
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a communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase
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persuasive advertising
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to motivate consumers to take action in growth and maturity stages of product life cycle
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reminder advertising
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a communication used to remind or prompt re-purchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle
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product focused advertisements
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inform, persuade or remind consumers about a specific product or service
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institutional advertisements
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inform, persuade or remind consumers about issues related to places, politics, or an industry
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public service advertising (PSA)
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focus on public welfare, generally they are sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups
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social marketing
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the application of marketing principles to a social issue to bring about attitudinal and behavioral change among the general public or a specific population segment
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the message
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provides target audience with reasons to respond in the desired way, starts by finding key benefits of product or service, and communicate problem solving ability clearly in a compelling fashion
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unique selling proposition (USP)
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the value proposition that differentiates a product by establishing its unique benefits (often common theme or slogan) ex. redbull…gives you wings
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the appeal
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to portray products or services and persuade consumers to purchase them
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informational appeals
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help consumers make purchase decisions by offering factual info that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides
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emotional appeal
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aims to satisfy consumers emotional desires rather than their utilitarian needs
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media planning
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refers to the process of evaluating and selecting the media mix
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media mix
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the combo of the media used and the frequency of advertising in each medium that will deliver a clear, consistent, compelling message to the intended audience
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media buy
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the actual purchase of airtime or print pages is generally the largest expense in the advertising budget
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mass media
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channels include outdoor/billboards, newspapers, magazines, radio, and television and are ideal for reaching large numbers of anonymous audience members
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niche media
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channels are more focused and generally used to reach narrower segments, often with unique demographic characteristics or interests
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advertising schedule
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specifies the timing and duration of advertising 1. continuous 2. flighting 3. pulsing
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continuous schedule
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runs steadily throughout the year and is suited to products and services that are consumed continually at relatively steady rates and require a steady level or persuasive and reminder advertising Ex. tide detergent
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flighting
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advertising schedule implemented in spurts, w periods of heavy advertising followed by periods of no advertising Ex. suntan lotion
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pulsing
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combines continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods Ex. airlines, hotels, and car rental companies
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headline
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large type in an ad that is designed to draw attention
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subhead
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a smaller headline, provides more info about the product it’s selling
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body copy
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represents the main text portion of the ad, used to build on interest generated by the visual and headlines, explains in more depth what headline and subheads introduced, arouses desire for the product, and provides enough info to move target consumer to action
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brand elements
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identifies the sponsor of the ad, typically through a logo and a unique selling proposition
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pretesting
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refers to assessments performed before an ad campaign is implemented to ensure that the various elements are working in an integrated fashion and doing what they re intended to do
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tracking
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includes monitoring key indicators, such as daily or weekly sales volume, while the advertisement is running to shed light on any problems with the message or the medium
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posttesting
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the evaluation of the campaigns impact after it has been implemented
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cause related marketing
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commercial activity in which businesses and charities form a partnership to market and make, product, or service for their mutual benefit
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event sponsorship
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occurs when corporations support various activities usually in the cultural or sports and entertainment sectors
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sales promotions
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special incentives or excitement building programs that encourage consumers to purchase a particular product or service: coupons, rebates, contests, free samples (typically used in conjunction w other advertising or personal selling programs)
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premium
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offers an item for free or at a bargain price to reward some type of behavior such as buying, sampling, or testing
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contest
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refers to a brand sponsored competition that requires some form of skill or effort
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sweepstakes
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do not require the entrant to complete a task other than buying a ticket or filling out a form
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loyalty programs
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specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time
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point of purchase (POP) displays
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mercy displays located at checkout counter
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rebates
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type of price reduction in which a portion of the purchase price is returned by the seller to the buyer in the form of cash
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product placement
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they have to pay their product included in nontraditional situations, such as in a scene in a movie or television programs
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cross promoting
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when 2 or more firms join to reach a specific target market
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relationship selling
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refers to a sales philosophy and process that emphasizes a commitment to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to all parties
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personal selling process
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1. generate and qualify leads (potential customers) 2. preapproach 3. sales presentation and overcoming reservations 4. closing the sale 5. follow up
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inbound marketing
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salespeople curate blogs to draw in customers and generate leads
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trade shows
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major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry, they offer an excellent forum for finding leads
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cold calls
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a method of prospecting in which salespeople telephone or go to see potential customers without appointments
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telemarketing
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like a cold call, but always happens through the phone
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roleplaying
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salesperson acts out a simulated buying situation while a colleague or manager acts as the buyer
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closing the sale
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obtaining a commitment from the customer to make a purchase
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follow up (service quality dimensions)
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1. reliability 2. responsiveness 3. assurance 4. empathy
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sales management
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involves planning, direction, and control of personal selling activities, including recruiting, selecting, training, motivating, compensating, and evaluating, as they apply to the sales force
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company sales force
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comprises people who are employees of the selling company
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independent agents (aka manufacturer’s representatives or reps)
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salespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer, they are compensated by commissions and don’t take ownership or physical possession of the march
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salesperson duties
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order getting, order taking, and sales support
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order getter
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a salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale
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order taker
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a salesperson whose primary responsibility is to process routine orders, reorders, or rebuys for products
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sales support personnel
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enhance and help with the overall selling effort
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selling teams
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combine sales specialists whose primary duties are order getting, order taking, or sales support but who work together to service important accounts
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salary
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a fixed sum of money paid at regular intervals
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commission
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money paid as a percentage of the sales volume or profitability
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bonus
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a payment made at management’s discretion when the sales person attains certain goals (usually only given periodically like the end of the year)
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sales contest
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short term incentive designed to elicit a specific response from the sales force with financial incentives like cash, a car, or a trip.

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