Shared Flashcard Set

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Marketing Ch 14
USF Marketing BUS 302 Barsky Ch 14
18
Marketing
Undergraduate 3
10/22/2014

Additional Marketing Flashcards

 


 

Cards

Term
Promotion mix (or marketing communications mix)
Definition
The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships. p 407
Term
Advertising
Definition
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. p 407
Term
Sales promotion
Definition
Short- term incentives to encourage the purchase or sale of a product or service. p 407
Term
Personal selling
Definition
Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships. p 407
Term
Public relations (PR)
Definition
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. p 407
Term
Direct marketing
Definition
Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships. p 407
Term
Integrated marketing communications (IMC)
Definition
Carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its products. p 409
Term
Buyer-readiness stages
Definition
The stages consumers normally pass through on their way to a purchase, including awareness, knowledge, liking, preference, conviction, and, finally, the actual purchase. p 414
Term
Personal communication channels
Definition
Channels through which two or more people communicate directly with each other, including face to face, on the phone, via mail or e- mail, or even through texting or an Internet chat. p 416
Term
Word- of- mouth influence
Definition
Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers. p 416
Term
Buzz marketing
Definition
Cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities. p 417
Term
Nonpersonal communication channels
Definition
Media that carry messages without personal contact or feedback, including major media, atmospheres, and events. p 417
Term
Affordable method
Definition
Setting the promotion budget at the level management thinks the company can afford. p 420
Term
Percentage- of- sales method
Definition
Setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price. p 417
Term
Competitive parity method
Definition
Setting the promotion budget to match competitors’ outlays. p 421
Term
Objective and task method
Definition
Developing the promotion budget by ( 1) defining specific promotion objectives, ( 2) determining the tasks needed to achieve these objectives, and ( 3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget. p 421
Term
Push strategy
Definition
A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members, which in turn promote it to final consumers. p 422
Term
Pull strategy
Definition
A promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that “ pulls” the product through the channel. p 423
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