Term
| The promotional mix consists of what 4 promotion types? |
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Definition
Advertising
personal selling
Publicity
Sales promotion |
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Term
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Definition
| Informing, persuading, and influencing a consumer's decision to buy |
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Term
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Definition
| Any paid form of nonpersonal presentation of a product or products. Paid for!!!!!! |
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Term
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Definition
| The personal presentation of products. |
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Term
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Definition
| Any unpaid form of nonpersonal presentation of products...... UNPAID!!!!!!! |
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Term
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Definition
| Actives other then the other three promotional mix categories |
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Term
| A CONSUMER RESPONSE MODEL: |
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Definition
THE AIDA MODEL
A=awareness
I= interest
D= desire
A= action |
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Term
| The promotion Effectiveness chart |
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Definition
| Has to do with AIDA model look in notes for chart |
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Term
| Two basic Promotional strategies are.... |
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Definition
Push Strategy
Pull Strategy |
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Term
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Definition
| Concentrate promotion on the next level of distribution |
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Term
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Definition
| Stimulate the ultimate consumer interest so that consumers demand the product. |
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Term
| Name the two broad categories of advertisement |
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Definition
Product Advertising
and
Institutional Advertising |
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Term
| Product Advertising is... |
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Definition
| The non-personal selling of a particular good or service. |
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Term
| Institutional advertising is... |
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Definition
| Promotes a concept, an idea, a philosophy of the goodwill of an industry, company, organization, person, geographical location, or government agency |
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Term
| Advertisement in relation to the product life cycle |
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Definition
Informative advertising
Persuasive Advertising
Reminder Advertising
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Term
| Informative advertising is... |
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Definition
| Seeks to develop initial demand for a product. |
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Term
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Definition
| Attempts to increase demand for a product that already exists |
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Term
| Reminder Advertising is... |
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Definition
| Strives to reinforce previous promotional activity |
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Term
| Comparative Advertising is... |
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Definition
Direct or an indirect comparison to the competitor.
(apple v.s. PC) |
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Term
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Definition
| Setting the timing and sequence for a series of advertisements. |
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Term
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Definition
| The number of different people or households exposed to an advertisement at least once during a certain time period. |
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Term
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Definition
| The number of times an individual person or household is exposed to an advertisement during a certain time period. |
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Term
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Definition
Reach times (x) Frequency
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Term
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Definition
| Marketing activities other than personal selling, advertising,and publicity. Accounts for double promotional dollar outlays of advertising. |
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Term
| The two major categories of Principle Methods of sales promotion are... |
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Definition
Consumer-oriented Promotions
Trade Promotions |
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Term
| Consumer-oriented Promotions is... |
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Definition
| Take the form of coupons, rebates, samples, contests, point of purchase promotions, and sweepstakes. |
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Term
| Consumer-oriented Promotions is... |
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Definition
| Take the form of coupons, rebates, samples, contests, point of purchase promotions, and sweepstakes. |
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Term
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Definition
| Include trade allowances, point of purchase promotions, trade shows, deal incentives, contests, and training programs |
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Term
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Definition
Order getters
Ordertakers
Supporting Salespeople
Missionary salespeople
Technical specialists
Customer service reps
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Term
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Definition
Pursuing orders
(ex. door to door) |
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Term
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Definition
| Take orders (usually by phone) |
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Term
| Supporting sales people are... |
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Definition
Mission sales people
Technical specialists
customer service reps |
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Term
| Missionary salespeople are... |
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Definition
(merchandisers or dealers)
they support ordergetters |
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Term
| Technical specialists are... |
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Definition
| Specialist on product details |
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Term
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Definition
| People that handle problems for the company |
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Term
New-product pricing strategies are...
(4) |
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Definition
Market-skimming
Market-Penetration Pricing
Market-Competitive Strategy
Introductory Price dealing |
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Term
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Definition
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Term
| Market-penetration Pricing is... |
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Definition
| Pricing product law competitively to other products coming in. |
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Term
| Introductory Price dealing |
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Definition
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Term
| basic pricing policy of your company (2) |
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Definition
Fixed (one-price) policy
A flexible price policy |
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Term
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Definition
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Term
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Definition
| Sales people have the ability to nogotiate |
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Term
| product-mix pricing strategies |
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Definition
product line Pricing (price Lining)
Optional- Product Pricing
captive-product price
By-Product Pricing
Product bundle Princing |
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Term
Product Line Pricing (price Lining)
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Definition
| A noticeable difference in quality... helped out by the difference in price to differentiate |
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Term
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Definition
| Add ons (heated seats in a car) |
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Term
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Definition
Have to keep buying supplies because the initial purchase is dependent on it to be able to work
(ex printer and printer ink) |
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Term
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Definition
get a product out waste of another during production.
(ex. lumber and sawdust) |
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Term
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Definition
bundle products together for resale
(ex. comcast packages) |
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Term
| Discount and Allowance Pricing |
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Definition
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Term
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Definition
discount due to a larger number of the same items the person in purchasing
(ex. bid day stuff) |
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Term
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Definition
| getting rid of inventory that does not sell during that season. |
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Term
| Functional discount (trade discount) |
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Definition
discount goes to the middle men for a function that the retailer does.
(ex. butcher) |
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Term
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Definition
| middle men get money for helping promote product |
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Term
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Definition
| selling a product for two or more prices even though the difference in prices is not based on the difference in costs |
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Term
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Definition
| different customers pay different prices for the same product |
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Term
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Definition
| price goes up to try and sell out. making it more exclusive. ex. concert |
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Term
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Definition
| different customers pay different prices due to time for the same product. ex. flights |
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Term
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Definition
Odd even pricing
adaption level pricing
prestige pricing
customary pricing
reference pricing |
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Term
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Definition
odd cents= higher sales in marketers thinking....
ex. $1.99 |
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Term
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Definition
Perceived v.s. notable differences in quality due to price.
150 x 155 ! 250 |
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Term
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Definition
| Pricing your product high (attach a value to that product) |
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Term
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Definition
customers are sensitive to the price increase.
Ex. candy quantity example vs price |
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Term
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Definition
| price to make a reference off of |
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Term
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Definition
1. Leader Pricing
2. bait pricing |
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Term
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Definition
| price several products low to try to get people into their store |
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Term
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Definition
| listing the leader pricing products as a loss |
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Term
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Definition
bait with an item that is low in price in turn the customer buys the higher quality model
ex. tv |
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Term
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Definition
promote product but they do not have it in stock
(this is illegal) |
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Term
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Definition
| price adjustments based on where customers are located geographically |
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Term
| FOB (free on board) origin pricing |
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Definition
| ship from wear house and the customer pay that shipping amount.... all of it |
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Term
| Uniformed delivered pricing |
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Definition
| all customers pay the same shipping amount no matter the location |
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Term
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Definition
| prices for the shipping verys on the zone the product is being shipped to |
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Term
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Definition
| pick a city as a point and based on how far away you are from that point you pay that amount |
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Term
| Freight-absorption pricing |
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Definition
Manufacturer takes up the cost of the shipping
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