Vocabulary Terms Chpt 14
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| the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships | promotion mix | ||||
| any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor | advertising | ||||
| short-term incentives to encourage the purchase or sale of a product or service | sales promotion | ||||
| personal presentation by the firms sales force for the purpose of making sales and building customer relationships | personal selling | ||||
| building good relations with the company's various public's by maintaining a good image, avoiding bad rumors | public relations | ||||
| direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships | direct marketing | ||||
| carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products | integrated marketing communications | ||||
| the stages consumers pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction, and purchase | buyer-readiness stages | ||||
| channels through which two or more people communicate directly with each other, including face to face, on the phone, through mail or e-mail, or even through an internet chat | personal communication channel | ||||
| personal communication about a product between target buyers and neighbors, friends, family members, and associates. | word-of-mouth influence | ||||
| cultivating opinion leaders and getting them to spread information about a product or service to others in their communities | buzz marketing | ||||
| media that carries messages without personal contact or feedback, including major media, atmospheres, and events | nonpersonal communication channels | ||||
| setting the promotion budget at the level management thinks the company can afford. | affordable method | ||||
| setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price. | percent-of-sales method | ||||
| setting the promotion budget to match competitors outlays. | competitive-parity method | ||||
| developing the promotion budget by defining specific objectives, determining the tasks that must be performed to achieve these objectives, and estimating the cost of performing these tasks | objective-and-task method | ||||
| a 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 who in turn promote it ro final consumers | push strategy | ||||
| a promotion strategy that calls for spending a lot of advertising and consumer promotion in induce final consumers to buy the product, creating a demand vaccum that pulls the product through the channel | pull strategy |
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Created by:
trgresham
on 2009-04-25