Vocab FBLA (Advertising) Flashcards
Brand Equity
The value a company generates with a recognizable product name.
Integrated Marketing Communications
Unifying a brand’s messaging to make it consistent among all media used to reach its target audience.
Media-Buying Service
An organization that specializes in buying time and space on radio and television.
Media Class
Type of media, such as television, radio, billboards, newspaper, or magazines. (Broad)
Pre-approach
The initial step where preparation is done BEFORE the salesman approaches.
Lead Time
The time it takes to complete a specific process.
Stagflation
A stagnant economy combined with high inflation.
Bait and Switch
Luring a customer and then upselling on an another product.
GDP (Gross Domestic Product)
Total value of goods and services within produced in a country.
NDP (Net Domestic Product)
Basically GDP minus the depreciation of capital goods.
Uncertainty Avoidance
The amount a culture can tolerate uncertainty.
Deal Loader
Offering a premium to a retailer for wondering a certain number of products.
POP Opportunity
When customers buy something near the point of purchase.
Trade Allowance
A discount given to wholesalers or retailers as a producer in exchange for them promoting and selling their products.
Stocking Allowance
A DISCOUNT for retailers to display a product the way we want.
