Understanding Business Chapter 16 Flashcards Preview

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Flashcards in Understanding Business Chapter 16 Deck (22):
1

Promotion Mix

The combination of promotional tools an organization uses.

2

Integrated Marketing Communication (IMC)

A technique that combines all the promotional tools into one comprehensive. unified promotional strategy.

3

Advertising

Paid. non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message.

4

Product Placement

Putting products into TV shows and movies where they will be seen.

5

Infomercial

A full-length TV program devoted exclusively to promoting goods or services.

6

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 relationships

7

Personal Selling

The face-to-face presentation and promotion of goods and services.

8

Prospecting

Researching potential buyers and choosing those most likely to buy

9

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.

10

Prospect

A person with the means to buy a product. the authority to buy. and the willingness to listen to a sales message.

11

Trial Close

A step in the selling process that consists of a question or statement that moves the selling process toward the actual close.

12

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.

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

Sales Promotion

The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities.

15

Sampling

A promotional tool in which a company lets consumers have a small sample of a product for no charge.

16

Word-of-Mouth Promotion

A promotional tool that involves people telling other people about products they've purchased.

17

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 commissions for directing friends to specific Web sites.

18

Blog

An online diary that looks like a web page but is easier to create and update by posting text. photos. or links to other sites.

19

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.

20

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.

21

Pull Strategy

Promotional strategy in which heavy advertising and sales promotion efforts are directed toward consumers so that they'll request the products from retailers.

22

Pick Economy

Customers who pick out their products from online outlets or who do online comparison shopping.