Card Set Information

2012-06-11 18:42:04
Ch16 Terms

Business Ch16 Terms
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  1. Advertising
    Paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the advertising message. Part of promotion mix. P. 432.
  2. Blog
    An online diary (Web log) that looks like a Web page but is easier to create and update by posting text, photos, or links to other sites.
  3. Infomercial
    A full-length TV program devoted exclusively to promoting goods or services.
  4. Integrated marketing communication (IMC)
    A technique that combines all the promotional tools into one comprehensive, unified promotional strategy.
  5. Interactive promotion
    Promotion process that allows marketers to go beyond a monologue, where sellers try to persuade buyers to buy things, to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationship.
  6. Personal selling
    The face-to-face presentation and promotion of goods and services. Part of promotion mix.
  7. Pick economy
    Customers who pick out their products from online outlets or who do online comparison shopping.
  8. Podcasting
    A means of distributing audio and video programs via the internet that lets users subscribe to a number of files, also known as feeds, and then hear or view the material at the time they choose.
  9. Product placement
    Putting products into TV shows and movies where they will be seen.
  10. Promotion mix
    The combination of promotional tools an organization uses. Advertising, personal selling, public relations, and sales promotion.
  11. Prospect
    A person with the means to buy a product, the authority to buy, and willingness to listen to a sales message.
  12. Prospecting
    Researching potential buyers and choosing those most likely to buy.
  13. Publicity
    Any information about an individual, product, or organization that's distributed to the public through the media and that's not paid for or controlled by the seller.
  14. Public relations (PR)
    The management function that evaluates public attitudes, changes policies and procedures in response to the public's requests, and executes a program of action and information to earn public understanding and acceptance.
  15. Pull strategy
    Promotional strategy in which heavy advertising and sales promotion efforts are directed towards consumers so that they'll request the products from retailers.
  16. Push strategy
    Promotional strategy in which the producer uses advertising, personal selling, sales promotion, and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise.
  17. Qualifying
    In the selling process, making sure that people have a need for the product, the authority to buy, and the willingness to listen to a sales message.
  18. Sales promotion
    The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities. Coupons, sampling, contests, lotteries, catalogs.
  19. Sampling
    A promotional tool in which a company lets consumers have a small sample of a product for no charge.
  20. Trial close
    A step in the selling process that consists of a question or statement that moves the selling process towards the actual close.
  21. Viral marketing
    The term now used to describe everything from paying customers to say positive things on the internet to setting up multilevel selling schemes whereby consumers get commission for directing friends to specific Web sites.
  22. Work-of-mouth promotion
    A promotional tool that involves people telling other people about products they've purchased.
  23. Selling Process Steps
    • 1. Prospect and qualify- prospecting, qualifying, prospects.
    • 2. Preapproach- learn about customers and their needs.
    • 3. Approach- first impression
    • 4. Make a presentation- match benefits with needs.
    • 5. Answer objections- resolve doubts the customer might have.
    • 6. Close the sale- trial close
    • 7. Follow up- customer complaints, answer questions, establishing relationships.