Bait-and-switch advertising

Advertising one product (the "bait") at a very attractive price, then informing the customer that the advertised product is either unavailable or of poor quality, convincing the customer to purchase a different, more expensive product.

Advantage consumers receive from using a product.

emotional or rational reasons a customer decides to make a purchase.

deceptive advertising

Advertising that misleads consumers, either by making unjustified claims regarding a product's composition.

channel of distribution is straight from manufacturer to consumer.

false statements of fact

Advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive.

indirect distribution

/middlemen (wholesaler, retailer) involved in channels of distribution

business firms operating between manufacturer & the customer/buyer that aide in the movement of product (middlemen); o performs Marketing functions better than manufacturer is capable of.

the sale of an article, goods or merchandise which one has bought with an intention to sell it to another person.

a business that buys consumer goods or services from wholesalers or directly from manufacturers and resells them to the ultimate consumer.

the sales procedure in which the sales person shows the customer the benefits of the product’s features; includes the sales dialogue and product demonstration

guidelines for selling. How will products be sold?

: ability to determine customers’ needs, wants, and buying motives; to open and close sales; to question customers

selling activity policies

guidelines for sales people. What is required of the sales employees? What laws apply?

terms of sale policies

determining conditions that apply to each type of sale? (Think airline tickets, e-Bay, close-outs)

process or activity of using goods and services for personal use.

buys from the manufacturer and sells products to buyers who are purchasing them for reasons other than personal or family use (business use, resale, production);sell to other businesses, not directly to consumers

usefulness; capable of satisfying wants and needs.

a desire for something that may or may not be required.

something required or essential that is lacking.

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SEM Unit 2 Vocab

Term	Definition
Bait-and-switch advertising	Advertising one product (the "bait") at a very attractive price, then informing the customer that the advertised product is either unavailable or of poor quality, convincing the customer to purchase a different, more expensive product.
benefit	Advantage consumers receive from using a product.
buying motive	emotional or rational reasons a customer decides to make a purchase.
deceptive advertising	Advertising that misleads consumers, either by making unjustified claims regarding a product's composition.
direct distribution	channel of distribution is straight from manufacturer to consumer.
false statements of fact	Advertising that appears to be based on facts which are, in fact, scientifically untrue, is deceptive.
indirect distribution	/middlemen (wholesaler, retailer) involved in channels of distribution
intermediaries	business firms operating between manufacturer & the customer/buyer that aide in the movement of product (middlemen); o performs Marketing functions better than manufacturer is capable of.
resale	the sale of an article, goods or merchandise which one has bought with an intention to sell it to another person.
retailer	a business that buys consumer goods or services from wholesalers or directly from manufacturers and resells them to the ultimate consumer.
sales presentation	the sales procedure in which the sales person shows the customer the benefits of the product’s features; includes the sales dialogue and product demonstration
selling policies	guidelines for selling. How will products be sold?
selling skills	: ability to determine customers’ needs, wants, and buying motives; to open and close sales; to question customers
selling activity policies	guidelines for sales people. What is required of the sales employees? What laws apply?
terms of sale policies	determining conditions that apply to each type of sale? (Think airline tickets, e-Bay, close-outs)
ultimate consumption	process or activity of using goods and services for personal use.
wholesaler	buys from the manufacturer and sells products to buyers who are purchasing them for reasons other than personal or family use (business use, resale, production);sell to other businesses, not directly to consumers
utility	usefulness; capable of satisfying wants and needs.
want	a desire for something that may or may not be required.
need	something required or essential that is lacking.

Created by: jaredhenderson

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