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Marketing Ch 19

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QuestionAnswer
Promotion Any form of communication a business or organization uses to inform, persuade, or remind people about its products and improve its public image
Product Promotion Promotion used by a business to convince potential customers to buy products from it instead of from a competitor
Institutional Promotion Promotion used to create a favorable image for a business or organization
Advertising The nonpersonal presentation and promotion of ideas, goods, and services by an identified sponsor
Publicity Creating demand for a business or product by placing news about it in publications or on radio, television, or stage
Sales Promotion The use of marketing devices, such as displays, premiums, and contests to stimulate purchases
Slotting Allowance A cash premium paid by the manufacturer to a retail chain for the costs involved in placing a new product on its shelves
Sales Incentives Awards given to managers and employees who successfully meet or exceed their company's set sales quota for a particular product or line of products
Licensing A business arrangement whereby organizations license for a fee their logo, trademark, trade characters, names and likeness, or personal endorsements to a business to be used in promoting the business's products
Promotional Tie-ins Sales promotional arrangements between one or more retailers or manufacturers which combine their resources to do a promotion that creates additional sales for each partner
Premiums Prizes or rewards offered to a customer as an added inducement to make a purchase
Incentives Products that are more expensive than premiums that are earned and given through contests, or as sweepstakes awards
Promotional Mix The combination of different types of promotion a business uses to persuade customers to buy its products
Created by: Stephen.P
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